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Commodities
Gold attempts to reclaim US$5,000; CPI in focus
Gold prices rebounded towards the US$5,000 level during Friday's Asian deals, recovering part of the sharp 3.2% decline in the previous session as investors turned their attention to the pivotal United States consumer price index (CPI) release. By 3:30 pm AEDT (4:30 am GMT), spot gold was trading 1.3% higher at $4,987.76 per ounce. The precious metal continues to find support at lower levels amid persistent geopolitical tensions and expectations that the U.S. Federal Reserve will begin cutting interest rates later this year. Despite an upside surprise in January’s nonfarm payrolls report, markets are still pricing in at least two Fed rate cuts in 2026, according to the CME Group FedWatch Tool. The upcoming CPI report is therefore seen as crucial in determining whether the Fed will validate market expectations for easing or adopt a more hawkish stance should inflationary pressures reaccelerate. Markets are expecting U.S. core annual CPI to ease slightly to 2.5% in January from 2.6% in December. Core monthly CPI is forecast to rise 0.3%, compared with a 0.2% increase in the previous month. Headline annual inflation is also projected to moderate to 2.5% from 2.7%. As noted by ANZ analysts, “an unexpected rise in inf
Commodities
Oil heads for weekly fall amid easing US-Iran tensions
Oil prices edged lower during Friday’s Asian session and were on track for a second consecutive weekly decline, as easing geopolitical tensions involving Iran and growing concerns about global oversupply weighed on sentiment. By 3:15 pm AEDT (4:15 am GMT), Brent crude futures were down 9 cents, or 0.1%, at US$67.43 per barrel, while U.S. West Texas Intermediate (WTI) crude slipped 15 cents, or 0.2%, to US$62.71 per barrel. In the previous session, both crude benchmarks had fallen sharply, with Brent dropping 2.7% and WTI losing 2.8%. For the week, Brent is set to decline about 0.8%, while WTI is poised to fall roughly 1.1%. Earlier in the week, prices had found support on concerns that the United States could take military action against Iran over its nuclear programme. However, comments on Thursday from U.S. President Donald Trump indicating that a deal with Iran could be reached within the next month helped to ease fears of supply disruption and drove prices lower. Beyond geopolitics, the market has been pressured by a more subdued demand outlook. The International Energy Agency (IEA) said in its monthly report that global oil demand growth this year is expected to be weaker than previously forecast, while overall
Commodities
Markets: Gold prices tick lower as CPI looms
Gold prices edged lower during Thursday's Asian trade as traders assessed the implications of robust United States labour market data and shifted attention to upcoming inflation figures. By 4 pm AEDT (5 am GMT), spot gold was down 0.4% at US$5,067.57 per ounce. Despite the pullback from Wednesday’s eight-day high of $5,119, downside pressure has been tempered by fresh weakness in the U.S. dollar. The greenback has come under renewed selling interest, partly reflecting continued downside momentum in USD/JPY. The yen has strengthened following Japanese Prime Minister Sanae Takaichi’s decisive victory in snap elections and speculation about potential foreign exchange intervention, weighing on the broader dollar. This softer tone in the U.S. currency has offset some of the headwinds facing gold after the latest U.S. employment report. Data released on Wednesday (Thursday AEDT) showed that U.S. nonfarm payrolls increased by 130,000 in January, well above estimates of 70,000. The unemployment rate unexpectedly eased to 4.3% from 4.4% in December 2025. The stronger-than-expected jobs figures prompted markets to reassess the outlook for U.S. monetary policy. According to the CME Group FedWatch Tool, traders have large
Commodities
Oil climbs as US-Iran tensions persist
Oil prices moved higher during Thursday's Asian deals as investors monitored escalating tensions between the United States and Iran, offsetting the impact of a sharp rise in U.S. crude inventories. By 3:30 pm AEDT (4:30 am GMT), Brent crude futures were up 36 cents, or 0.5%, at US$69.76, while U.S. West Texas Intermediate crude gained 40 cents, or 0.6%, to US$65.02. The Wall Street Journal reported that Trump administration officials have discussed whether to seize additional tankers transporting Iranian oil but have so far refrained, citing concerns about likely retaliation from Tehran and possible disruption to global oil markets. U.S. President Donald Trump said after talks with Israeli Prime Minister Benjamin Netanyahu on Wednesday that there was no “definitive” agreement on how to proceed with Iran, though he stressed that negotiations would continue. Earlier in the week, Trump said he was considering deploying a second aircraft carrier to the Middle East if a deal with Iran is not reached, even as Washington and Tehran prepared to resume discussions. U.S. and Iranian diplomats held indirect talks in Oman last week, though details of the next round — including timing and location — have yet to be announced.
Commodities
Gold steady above US$5,000; key labour data ahead
Gold prices held steady above the US$5,000 mark during Wednesday's Asian deals, though gains remained capped as investors turned cautious ahead of the delayed release of the United States nonfarm payrolls (NFP) report. By 3:15 pm AEDT (4:15 am GMT), spot gold was up 0.7% at US$5,058.81 per ounce. The precious metal appears to be positioning for a more sustained move higher, with traders awaiting the January jobs report, which was postponed due to a four-day government shutdown that concluded last week. ANZ analysts commented in a note to clients: "With speculative positioning now largely washed out of the market, traders are looking for the next catalyst for another run higher. “Weak economic data in the U.S. prompted some buying. This lifted U.S. Treasuries as the softer U.S. data reinforced the case for Fed cuts.” In addition to the monthly payrolls data, markets will also receive the final benchmark revision to the annual NFP figures on Wednesday (Thursday AEDT). The revision is expected to draw particular scrutiny as investors weigh the balance between employment trends and inflation pressures. Attention will then shift to the U.S. consumer price index (CPI) report due on Friday (Saturday AEDT). Markets ar

Commodities
Oil gains as US–Iran talks underpin market
Oil prices traded higher during Wednesday's Asian deals as continued United States–Iran negotiations and broader geopolitical uncertainty provided support, while traders awaited clearer direction from official U.S. inventory data. By 3 pm AEDT (4 am GMT), Brent crude futures rose 55 cents or 0.8% to US$69.35 per barrel, while U.S. West Texas Intermediate crude added 56 cents or 0.9% to $64.52. Market sentiment was underpinned by developments surrounding Iran’s nuclear discussions with Washington. Iran’s foreign ministry spokesperson said on Tuesday that talks with the U.S. had enabled Tehran to assess Washington’s seriousness and had revealed sufficient common ground to continue diplomatic efforts. Diplomats from both countries met in Oman last week in an attempt to revive negotiations, after U.S. President Donald Trump deployed a naval flotilla to the region. ANZ analysts commented in a note to clients: "Hopes of a peaceful resolution were dashed later in the session after Axios reported that the U.S. might send a second aircraft carrier to the Middle East if talks fail. This comes after the U.S. Department of Transportation issued a maritime advisory that warned American-flagged ships should stay as far away as possi
Commodities
Gold prices rangebound ahead of US retail sales data
Gold prices edged lower during Tuesday's Asian trade, consolidating just below recent highs as investors awaited the release of United States retail sales data for fresh direction on the Federal Reserve’s policy outlook. By 3:55 pm AEDT (4:55 am GMT), spot gold was down 0.5% at US$5,031.10 per ounce. The precious metal has paused after a strong rebound in recent sessions, with traders locking in profits ahead of several high-impact U.S. economic releases. Market focus is firmly on December retail sales, with expectations pointing to a moderation in consumer spending. A softer reading would reinforce signs of slowing economic momentum and add to concerns about a cooling labour market. Attention will then shift to the delayed nonfarm payrolls (NFP) report due on Wednesday (Thursday AEDT). The closely watched employment data is expected to provide further clarity on the health of the U.S. jobs market. White House economic adviser Kevin Hassett told CNBC on Monday that U.S. job gains could slow in the months ahead, citing weaker labour force growth and rising productivity. Such signals have strengthened expectations that the Federal Reserve could begin easing monetary policy in June. Markets are increasingly position
Commodities
Oil eases; Hormuz tensions keep supply in focus
Oil prices edged lower during Tuesday's Asian trade as investors assessed the risk of supply disruptions stemming from heightened United States-Iran tensions, following fresh maritime guidance related to the Strait of Hormuz. By 3:15 pm AEDT (4:15 am GMT), Brent crude futures were down 12 cents, or 0.2%, at US$68.92 per barrel. U.S. West Texas Intermediate crude slipped 14 cents, or 0.2%, to $64.22 per barrel. The modest pullback followed gains of more than 1% in the previous session. On Monday, the U.S. Department of Transportation’s Maritime Administration advised U.S.-flagged commercial vessels to keep as far away as possible from Iranian territorial waters when transiting the Strait of Hormuz. The agency also instructed vessels to verbally decline permission to board if approached by Iranian forces. The warning kept market attention firmly on the strategic waterway, through which roughly 20% of global oil consumption passes. The Strait of Hormuz, located between Oman and Iran, remains a critical artery for global energy flows, and any escalation in the region is widely seen as a significant risk to supply. Iran, along with fellow OPEC producers Saudi Arabia, the United Arab Emirates, Kuwait and Iraq, exports the
Commodities
Gold trades above US$5,000 ahead of US data
Gold hovered above the US$5,000 level during Monday's Asian deals as investors positioned for a pivotal week dominated by key United States economic data and evolving expectations for Federal Reserve policy. By 3:55 pm AEDT (4:55 am GMT), spot gold was trading 1% higher at US$5,015.29 per ounce. The precious metal’s rebound has been underpinned by renewed reflationary trades following Japan’s snap election. The ruling Liberal Democratic Party’s majority victory has strengthened expectations of debt-funded fiscal stimulus, lifting broader risk appetite and reinforcing inflationary narratives that tend to favour gold as a hedge. Dovish sentiment surrounding the Federal Reserve has also resurfaced. After softer U.S. labour market data last week, markets continued to price in the first Fed interest rate cut of the year in June. Expectations for monetary easing have strengthened despite mixed views among investors regarding the policy stance of Fed Chair nominee Kevin Warsh. Attention now turns squarely to the delayed January nonfarm payrolls report, due on Wednesday, followed by the consumer price index data on Friday. Both releases were postponed and are expected to play a critical role in shaping near-term Fed expe