Other news

On Thursday, European Central Bank President Christine Lagarde said that inflation across all indicators remains too high for now. Policymakers will not relent in their efforts to return price growth to target levels.

According to the Energy Information Administration’s (EIA’s) weekly report, the U.S. has stopped selling oil from the Strategic Petroleum Reserve (SPR). As of January 13, the SPR crude balance remained the same as a week earlier. It was 371.6 million barrels.

According to a recent report from Moody's Investors Service, aggregate upstream spending will gradually increase by about 10-15% in the coming year. Nevertheless, overall spending will remain below 2016-2019 levels.

The consumption of gas in the U.S. exceeded expectations. Nevertheless, this is not enough to increase prices from a 19-month low.

According to analysts at Bank of America, investors' portfolios will hold gold securities for the next 3 years.

Today, on January 20, gold prices are fluctuating around their highest levels for the past nine months. The precious metal has been rising for nearly five weeks in a row.

Economists at the ANZ bank see good prospects for the yellow metal market in the coming year. Experts believe that the deteriorating economic outlook will strengthen demand for gold as a safe-haven asset.

MKS PAMP Group analysts suppose that palladium will be within the $1500-2500 range with a 50% chance.

The rise in price for WTI oil could be more than 1% for the week, as it has already gained more than $81 per barrel.

Analysts at MKS PAMP Group, a Swiss precious metals trading company, assessed the platinum outlook for 2023. A rise in platinum prices above $1,350 per ounce is 30% probable.