What Does the Current Market Hold Amid Fluctuating Gold and Oil Prices?

January 24, 2025 10:05 AM PST | By Team Kalkine Media

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What Does the Current Market Hold Amid Fluctuating Gold and Oil Prices? — Image source: Shutterstock

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Highlights

Stocks showed minimal movement as earnings reports and political updates unfolded.

Gold prices rose after President Trump's call for lower interest rates, weakening the US dollar.

Oil prices marked a decline, experiencing their first drop in a month.

Stocks displayed little change in late morning trading as market participants navigated a flurry of earnings reports. This week’s reports weighed against political developments, including President Donald Trump’s recent speech at the World Economic Forum. The S&P 500 and Nasdaq remained flat, while the Dow Jones experienced a slight decline, influenced by profit-taking as the week drew to a close.

Gold Prices Benefit from Dollar Weakness

Gold saw an increase following a call from President Trump for lower interest rates. His remarks triggered a weakening of the US dollar, which benefited the precious metal. As the dollar fell, gold prices rallied, approaching their all-time high. This rise was further supported by market sentiment surrounding potential shifts in monetary policy and their impact on the currency markets.

Oil Prices Continue Downward Trajectory

The oil market experienced a downward movement, marking its first weekly decline in a month. Oil prices extended their rout amid ongoing concerns surrounding global supply and demand dynamics. The continued pressure on oil reflected broader market trends, with economic factors contributing to volatility in the energy sector.

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