Commodities
Oil Shock Intensifies Pressure for Rate Hikes Amid Hawkish Market Sentiment
Silver prices held steady while gold retreated in Tuesday's U.S. morning session, with spot gold trading around $4,293.97 per ounce, down 0.11%, and spot silver at $63.84, up 0.97% on the day.
The current market positioning is largely driven by interest-rate repricing following last week's inflation data for both producers and consumers, which failed to provide sufficient evidence to dispel expectations of a Fed rate hike.
A fresh round of oil-price shocks has further reinforced the market's hawkish stance, with Brent crude surging above $105 per barrel and West Texas Intermediate (WTI) holding steady above $100.