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Silver Price Forecast: XAG/USD eases from record highs, bulls defend $53.00 support
Silver (XAG/USD) is taking a breather on Friday, snapping a two-day winning streak after refreshing a new all-time high near $54.86 on Thursday. At the time of writing, the white metal is trading around $53.20, down over 1.80% on the day and easing from the intraday high of $53.68.
Fxstreet
Fri, Oct 17
WTI recovers after multi-month low, geopolitical easing, Fed rate cut hopes lift Oil
West Texas Intermediate (WTI) US Oil rebounds on Friday to around $57.00 after reaching a new low since May earlier in the day at $56.15. The market is attempting to stabilize after a volatile week marked by mixed signals between geopolitical easing and supply excess.
Copper: Chinese companies want to increase metal exports – Commerzbank
According to Bloomberg reports, Chinese smelters are taking advantage of the current high world market prices and want to increase their exports, which is likely to have contributed to the recent decline in Copper and Zinc prices, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.Fxstreet
Fri, Oct 17
IEA likely overestimates supply surplus in oil market – Commerzbank
The IEA expects a massive oversupply of 4 million barrels per day on the Oil market next year. However, the IEA's assumptions regarding supply are extremely ambitious, Commerzbank's commodity analyst Carsten Fritsch notes.Fxstreet
Fri, Oct 17
WTI slumps to near $56.50 as Trump and Putin summit looms
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $56.50 during the early European trading hours on Friday. The WTI remains on the defensive amid uncertainty over global energy supplies and a bigger-than-forecast crude inventory build.Silver Price Forecast: XAG/USD remains close to $54.50 near record highs
Silver price (XAG/USD) extends its three-day rally, trading around $54.30 per troy ounce during the Asian hours on Friday. The price of the grey metal remains close to the record high of $54.86, reached in the previous session amid increased safe-haven demand.Fxstreet
Fri, Oct 17
Crude oil price today: WTI price bearish at European opening
West Texas Intermediate (WTI) Oil price falls on Friday, early in the European session. WTI trades at $56.79 per barrel, down from Thursday’s close at $56.94.Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $60.68 after its previous daily close at $60.86.WTI falls to near $56.50 as oversupply concerns rise ahead of upcoming Trump-Putin meet
West Texas Intermediate (WTI) Oil price extended its losses and recorded a fresh five-month low of $56.52 during the Asian hours on Friday, currently trading around $56.70 per barrel. Crude Oil prices depreciate amid rising concerns over global energy supplies.Featured Tools
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