Trump’s post shows he would rather increase supply than limit it, adding to concerns about an oversupply issue in the global market
Gold is fresh from posting its best annual performance since 1979, hitting a series of record highs throughout last year with support from central-bank buying and inflows to bullion-backed exchange-traded funds.
Spot gold climbed about 1.1% on Tuesday to trade above $4,495 an ounce, after gaining 2.7% in the previous session following the US capture of Venezuelan leader Nicolás Maduro injected fresh geopolitical uncertainty into markets.
India is the world's third-largest consumer and importer of oil and the largest buyer of Russian seaborne crude, taking advantage of discounts on Russian oil as Europe and the U.S. shun those barrels over Russia's invasion of Ukraine.
The silver's ascent has been structurally supported by governmental measures at both ends of the global supply chain, says analyst.
Analysts say that increased geopolitical tensions across many global flashpoints have bolstered gold status as preferred safe-haven investments.
Benchmark prices surged as much as 1.5% to a record $13,187 a ton on the London Metal Exchange, following a gain of more than 4% on Monday
Federal Reserve Bank of Minneapolis President Neel Kashkari said on Monday that interest rates may be close to a neutral level for the US economy, leaving it up to incoming data to guide the central bank’s actions.
“The company had several interactions with trading companies, financial investors and potential partnerships on the development for the field,” Mendonça said. “We are evaluating several options.”
State producer Saudi Aramco reduced the price of its Arab Light grade for customers in Asia to a 30-cent premium to the regional benchmark for February, according to a price list seen by Bloomberg.
Expanding on his criticism, Sinha questioned the underlying motive behind the action, linking it to Venezuela's natural resources. "The reason he has settled on is taking claim to the oil reserves of Venezuela," Sinha said.
President Donald Trump said the US plans to “run” Venezuela after ousting Maduro over the weekend, leaving the future governance of the South American nation uncertain.
Elevated prices are keeping casual buyers away, concerned about overpaying, whereas buying in dips offer opportunities for investors seeking safe havens.
The US attack against Venezuela has further fueled the prices of an already favourable environment for white metal, buoyed by industrial demand and expectations of further rate cuts by the US later this month.
Analysts expect precious metal prices to rise in the wake of the large-scale US military action against Venezuela on Saturday, as heightened geopolitical uncertainty boosts demand for safe-haven assets.
Gold and silver prices are expected to see sharp swings in the coming week as investors track key US economic data and assess rising geopolitical uncertainty following the US military operation that captured Venezuelan President Nicolas Maduro
Commodity cycles reward patience more than prediction. The recent rally in gold, silver, and copper have already spoken about it. Crude oil has been silent, but in markets, long silences often precede the loudest moves.
Markets are likely to open sharply on edge Monday after US forces captured Venezuelan President Nicolás Maduro and his wife, charging them with drug trafficking following a major military operation on Saturday.
Aluminum prices have been lifted by structural supply constraints, including caps on smelting capacity in China and reduced output in Europe due to persistently high-power costs
As silver’s role in solar and electronics deepens, India’s import reliance on China climbs past 40%, echoing concerns once reserved for rare earths
On MCX, gold futures for February delivery climbed Rs 948, or 0.7 per cent, to Rs 1,36,752 per 10 grams in a business turnover of 15,639 lots
Analysts predict gold prices to consolidate in the range of $4,320 (Rs 1,34,000) and $4420 (Rs 1,37,000) after this sharp rally and sell-off this week.
Silver rates across India’s major cities showed remarkable uniformity, with only marginal differences due to local taxes, jeweller margins, and logistics costs
Trump administration stepped up a campaign against Venezuela’s oil exports by sanctioning companies based in Hong Kong and mainland China, along with vessels accused of evading curbs.
Gold gained 0.7% to $4,348.42 an ounce at 8:00 a.m. in Singapore.
