💥Gold and Oil Down After Trade Agreement Between the U.S. and Japan
A recent trade agreement between the United States and Japan has caused significant movements in the commodities market.
Gold, traditionally a safe-haven asset, experienced a decline of 0.1%, trading at $3,428.69 per ounce. This drop is attributed to an increase in investors' risk appetite and the strengthening of the U.S. dollar following the pact. On the other hand, silver defied this trend, rising by 0.3% to $39.39 per ounce and reaching its highest price in 14 years, driven by strong supply and demand fundamentals.
Meanwhile, Brent oil prices fell for the fourth consecutive day, hovering around $68 per barrel. Concerns about tariffs and their potential impact on fuel demand continue to exert pressure on crude, despite a trade agreement between the U.S. and the Philippines. Market attention is now focused on the upcoming trade negotiations between the United States, China, and the European Union, which could determine the future direction of these important markets.
