A segment of a crucially important pipeline was returned to work by Colonial Pipeline Co. in the U.S. It took the company a day more than expected to fix the mentioned part of the pipeline that provides the US Northeast with fuel.

Precious metals prices rose as the dollar weakened and U.S. bond yields dropped. Investors assessed the prospects for less aggressive interest rate hikes by the Fed after optimistic non-farm payrolls data had been released.

Central banks continue their fight with inflation, as most countries haven’t reached peak interest rates yet. However, in 2023 at least, monetary tightening is expected to pause — and probably the current policy may even completely reverse.

According to the reports, the price of WTI crude oil futures rose after falling 8% last week and currently are $75 per barrel.

Analysts at Brown Brothers Harriman & Co. (BBH) continue holding a bullish view on the prospects for the U.S. dollar.

There has been a significant fall in gas prices in Europe and the United States, which have reached the level of last winter. Gas prices in Europe have almost halved since mid-December. A similar fall in prices has been observed in the U.S.

The gold price grew shortly before the release of inflation data from China, Japan, and the US. The risk profile remains stable because China opens its borders after three years of travel restrictions.

According to the Energy Information Administration (EIA), US crude inventories showed a week-on-week increase of 0.72mb (forecast: -1.5mb) to almost 419mb.

Chief economist at Euro Pacific Capital is bullish on gold. In his view, gold will climb in the coming year. Now he is even more bullish that demand for the yellow metal will rise.

Many countries began to introduce stricter entry rules for visitors from China to provide epidemiological safety. However, European health officials consider these measures excessive and unjustified.