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As geopolitical risk increases, gold prices are on the verge of a record high.
Gold extended gains on Tuesday, boosted by demand for safe-haven assets after the 'U.S. The?capture' of Venezuela's President fueled global tensions. Investors awaited U.S. Payroll data to gain insight into the Federal Reserve interest rate policy. By 01:40 pm, spot gold had risen 0.8% to $4,485.39 an ounce. ET (1840 GMT), following a nearly 3-percent gain in the previous day, prices are now closer to the record high $4,549.71 set on December 24. U.S. Gold Futures for February Delivery settled?1% higher, at $4496.010. Jim Wyckoff is a senior analyst with Kitco Metals. He said that precious metals traders are more concerned about the future than bond and stock traders. The weekend U.S. attack on Venezuela has also fueled the demand for safe havens like gold and silver. After the U.S. had seized Maduro and taken him to New York at the weekend, the ousted Venezuelan president pleaded 'not guilty' to charges of narcotics. The gold price, which is considered to be a safe haven by many, rose 64.4% in the last year. This was its best performance since 1979. The market participants will also be looking at Friday's U.S. employment report. It is expected to show that 60,000 new jobs were added in December, a slight decrease from the 64,000 created in November. According to LSEG, traders are pricing in at least two Federal Reserve rate reductions this year. Tom Barkin, the Richmond Fed president, said that future rate changes need to be "finely-tuned" in order to balance both unemployment and inflation risks. Low interest rates tend to be beneficial for non-yielding metals. Morgan Stanley predicted that gold prices would surge to $4800 by the fourth quarter of this calendar year. They cited falling interest rates, changes in Federal Reserve leadership, and central bank and funds purchases. Spot silver, whose all-time record high was $83.62 per ounce on December 29, gained 5.4%, to $80.68. Silver's annual gain was 147% in 2025. This was due to a rise in industrial demand and investor interest. Palladium was 5.9% higher, at $1,821.68 an ounce. Spot platinum rose 7.2% to $2,435.20. (Reporting and editing by Joe Bavier, Vijay Kishore, and Anmol Choubey from Bengaluru)
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Futures prices for soybeans and grains are rising as China purchases more US supplies
Chicago Board of Trade Soybean futures rose slightly on Tuesday, as China purchased more U.S. soybeans. The corn and wheat futures both rose slightly as the agricultural markets continued to gain after recovering?on Monday? from recent multi-week?lows. Traders were watching closely the?Chinese?demand for U.S. soybeans after Washington announced in late October Beijing's agreement to purchase supplies as part a truce between the two countries in their trade war. Three traders said that China's stockpiler Sinograin bought 10 U.S. soy cargoes this week, totaling around 600,000 tons. U.S. Department?Agriculture confirmed later that exporters had sold 336,000 metric tonnes of U.S. soya beans to China for delivery in 2025/2026. Traders said China's total U.S. soya purchases have risen to 10 million tons in the time since the trade truce. This is more than 80% of the 12 million metric tonnes that U.S. Treasury secretary Scott Bessent had previously stated China would buy by the end?of February. Jim Gerlach of A/C Trading, Indiana, stated that some traders feared Beijing would stop buying after the U.S. captured Venezuela's president, a Chinese strategic partner. Gerlach stated that "the fact that they purchased beans despite the goings on is supportive." The most active CBOT soybean contracts were up a cent to $10.63 per bushel at 11:30 am CST (1730 GMT). The benchmark contract reached its lowest level in October on Friday. CBOT Corn rose by 2 cents to $4.46-1/2 per bushel. CBOT Wheat gained 1/2 cent to $5.13 per bushel. On Friday, wheat reached its lowest level since October. Corn hit a 2-week low on Monday and then turned higher. Gerlach stated that the fear of dry weather damaging corn crops in Argentina was a factor in driving prices. Analysts kept an eye out for dryness in the U.S. wheat belts. Josh Lawrence, an advisor consultant at IKON Commodities, said that "pockets of dryness" in the U.S. Plains supported wheat. The gains were still limited due to the abundance of supplies from major exporting nations. Grain traders also watched investor flows, which are linked to changes in commodity indexes and were looking forward to the crop data that the U.S. Department of Agriculture is due to release next Monday.
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As geopolitical risk increases, gold prices are on the verge of a record high.
Gold extended gains on Tuesday due to the demand for safe-haven assets after 'the U.S. The capture of Venezuelan president fuelled global tensions. Investors awaited U.S. employment data to gain insight into Federal Reserve interest rate policy. By 11:50 am, spot gold had risen 0.9% to $4,488.10 an ounce. After a near 3% increase in the previous session at 1650 GMT, prices are now closer to the record high price of $4,497.11 set on December 24. U.S. Gold Futures for February Delivery advanced by?1% to $4496. Jim Wyckoff is a senior analyst with Kitco Metals. He said that precious metals traders are more concerned about the future than bond and stock traders. The weekend U.S. attack on Venezuela fueled the demand for safe havens like gold and silver. After the U.S. had seized Maduro and taken him to New York at the weekend, the ousted Venezuelan president pleaded not guilt?on Monday? to narcotics? charges. The gold price, which is considered to be a safe haven by many, rose 64.4% in the last year. This was its best performance since 1979. The market participants will also be watching Friday's U.S. employment report. It is expected to show that 60,000 new jobs were added in December. This is a slight decrease from the 64,000 jobs added the previous month. According to LSEG, traders are pricing in at least two Federal Reserve rate reductions this year. Richmond Fed President Tom Barkin said that future rate changes need to be "finely-tuned" in order to balance both unemployment and inflation risks. Low interest rates tend to be beneficial for non-yielding metals. Morgan Stanley predicted that gold prices would surge to $4800 by the fourth quarter of this calendar year. They cited falling interest rates, changes in Federal Reserve leadership, and central bank and funds purchases. Spot silver, whose all-time record high was $83.62 per ounce on December 29, gained 5.3% to $80.57. Silver's annual gain was 147% in 2025. This was due to a rise in industrial demand and investor interest. Palladium was 6.3% higher, at $1,815 an ounce. Spot platinum rose 6.5% to $2,417.70. (Reporting and editing by Joe Bavier, Vijay Kishore and Anmol Choubey from Bengaluru)
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Investors await economic data to see if stocks will rise and the dollar inch up.
Investors focused on the key data that will be released later this week to help gauge the outlook of the Federal Reserve policy. Prices of oil are falling. Investors were monitoring developments in . Maria Corina Machado has promised to return to her country as soon as possible, hailing U.S. president Donald Trump for overthrowing her opponent, Nicolas Maduro. She also declared that her movement was ready to win an election free of corruption. Trump's administration will meet with executives of oil companies this week to discuss increasing production in Venezuela. There's a lot of retooling needed to prepare these downstream producers for this crude oil. It is possible - and will probably be. Mark Malek is chief investment officer of Siebert Financial. He said that the biggest questions are how long it will take to invest, how much, and by whom. Stock Indices Climb Investors?bet Washington that it would allow U.S. companies access to Venezuelan oil reserves. The Dow Jones Industrial Average rose by?173.14 or 0.35% to 49,150.32. The?S&P 500 rose by 27.19 or 0.39% to 6,929.24. And the Nasdaq Composite grew 110.14 or 0.47% to 23,505.95. The MSCI index of global stocks rose 5.53 points or 0.54% to 1,033.55. The pan-European STOXX 600 rose by 0.66%. Investors remain confident in economic prospects despite the escalating tensions on geopolitical fronts. The dollar index (which measures the greenback in relation to a basket?of currencies including the yen, the euro and others) rose by 0.18%, reaching 98.56. U.S. ECONOMIC DATA TO SET MARKET TONE Markets were buoyed by the expectation of interest rate reductions in the United States. Traders focused on the U.S. employment report due Friday. This will affect market expectations on monetary policy. According to LSEG, financial markets are pricing two Fed rate reductions this year. The yield on the benchmark U.S. 10 year notes increased 2 basis points to 4.185% from 4.163% on Monday. U.S. crude dropped 0.27%, to $58.16 per barrel. Brent fell to $61.65 a barrel, down by 0.18%. Gold prices rose on Tuesday as demand for safe-haven assets boosted the price. Gold spot was up 0.9% to $4,486.12 an ounce at 11:54 am?ET (1654 GMT) after nearly 3% gains in the previous session. Nickel soared more than 9% and copper jumped to a new all-time peak, as concerns about supply fueled a rally early in the year for industrial metals.
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Why is Somaliland strategically important?
Israeli Foreign Minister Gideon Saar, met with the President of Somaliland Tuesday. This was 10 days after Israel officially recognised the breakaway region of?the Horn of Africa' as a sovereign and independent state. Somalia has protested the move, saying that it is a threat to its sovereignty. A Somaliland source and regional diplomat have said other countries are preparing to follow their lead and'recognise Somaliland. U.S. U.S. Why is the location of Somaliland strategic? Somaliland is located at the intersection of the Indian Ocean, Red Sea and the Arabian Sea. Its Berbera Port provides access to the busiest shipping routes in the world. Analysts believe that Israel's recognition of Somaliland is a response to the Houthi militia's attacks on ships plying these routes. This could lead to an agreement for military cooperation between Israel and Somaliland. Somaliland has, however, denied that recognition would allow Israel to set up military bases or resettle?Palestinians in Gaza. What other countries could?recognise Somaliland? Ethiopia, Africa's most populous landlocked country, also has its eyes on Somaliland. In 2024, it announced a memorandum to lease a region around the Berbera Port in exchange for Addis Ababa recognizing the region's independent status. This deal provoked an angry response in Somalia and brought the Mogadishu Government closer to Egypt. Egypt has been at odds with Ethiopia over Addis Ababa’s construction of?a vast dam on the Nile River for years. Eritrea is another Ethiopian foe. Turkey maintains close ties to both Ethiopia and Somalia. It trains Somalia's security force and provides development assistance as a way of gaining a foothold along the main global shipping route. Ethiopia agreed to work with Somalia in December 2024 after talks were mediated by Turkey. However, it now appears to be preparing to recognize Somaliland. India has 'denied' talk on X about it also preparing for recognition of Somaliland. However, some analysts say that India should do this to counter Chinese influence in the Horn of Africa and specifically Djibouti as well as Kenya?and Tanzania. United Arab Emirates has carved out its own sphere in the region. The Abraham Accords, mediated by the United States, normalised Israel's relations in 2020. The Berbera Port is run by Dubai's state-owned company DP World. It also runs Berbera Airport and a Free Trade Zone between the airport and port. (Written by Silvia Aloisi and William Maclean)
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As geopolitical risk increases, gold prices are on the verge of a record high.
Gold extended its gains on Tuesday, boosted by demand for safe-haven assets after the?U.S. The capture of Venezuela's President sparked global tensions. Investors awaited U.S. Payroll data to gain insight into the Federal Reserve interest rate policy. By 09:55 am, spot gold had risen 0.9% to $4,488.10 an ounce. After a near 3% rise in the previous session (1455 GMT), prices are now a little closer to the December 24 record high of $4,497.11. U.S. Gold futures for?delivery in February rose 1.1% to $4498.70. Jim Wyckoff is a senior analyst with Kitco Metals. He said that precious metals traders are more concerned about the future than bond and stock traders. The weekend U.S. attack on Venezuela has also fueled the demand for gold, silver and other safe havens. After the U.S. took him to New York at the weekend, the ousted Venezuelan president Nicolas Maduro plead not guilty Monday?to charges of narcotics. The gold price, which is considered to be a safe haven by many, rose 64.4% in the past year. This was its best performance since 1979. The market participants will also be looking at Friday's U.S. employment report. It is expected to show that 60,000 new jobs were added in December. This represents a slight decrease from the 64,000 added the month before. According to?LSEG, traders are pricing in at least two Federal Reserve rate reductions this year. Richmond Fed President Tom Barkin said that future rate changes need to be "fine-tuned"?to balance unemployment and inflation risks. Low interest rates tend to be beneficial for non-yielding metals. Morgan Stanley predicted that gold prices would?surge? to $4,800 in the fourth quarter this year. They cited falling 'interest rates', changes of leadership at the Federal Reserve, and central bank and funds purchases. Spot silver, which reached an all-time peak of $83.62 per ounce on December 29, increased 4.8% to $80.18. Silver's annual gain was 147% in 2025. This is due to a rise in industrial and investor demand. Palladium was 5.2% higher, at $1,795.68 an ounce. Spot platinum traded up 5.2% to $2,388.50. (Reporting and editing by Joe Bavier in Bengaluru, Anmol Choubey)
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Nickel surges after new mine disruptions and copper reaches record highs
The price of copper soared on Tuesday, as concerns about supply fueled a rally in the early part of the year. Nickel also reached a 15-month high above $18,000 per metric ton due to?Indonesia’s mine production curbs. In official open-outcry trading on the?London Metal Exchange, benchmark three-month copper was up 1.8% to $13,225 per ton. It had earlier jumped by as much as a whopping 3.1% to $13,387.50. Red metal prices have already increased by 6.6% since 2026. On Monday, they crossed $13,000, after a 42.2% increase last year. Ewa Mannthey, ING analyst, said that "Copper's?"move above $13,000" is driven by a growing discrepancy between a structurally tight supply of copper and a accelerating demand for it from?electrification projects and data centres. "Years underinvestment and mine disruptions continue to leave the market with little cushion." A strike at Capstone Copper’s Mantoverde gold and copper mine in northern Chile?has re-invigorated supply concerns. Meanwhile, Chinese copper producer Tongling Nonferrous reported a delay to the?launch of its Ecuadorian mine's second phase. LME Copper Stocks Inventory levels on the Comex exchange have dropped to their lowest level since November 17. The price of copper is expected to rise due to the possibility of a U.S. tariff on the metal, resulting in a shortage of supplies outside the United States. Nickel jumped 6.1% to $18,045 per ton. This is the highest price since October 7, 2024, due to?Indonesia’s plans to reduce output. Miners can refer to the previously approved quotas for 2026 until March 31, while new quotas will be reviewed. Manthey stated that "Indonesia’s tightening of its grip on production, via slower...approvals and planned quota reductions in 2026, has proven to be?highly efficient at raising prices in the short-term." "But with an expected surplus of a significant amount in 2026, the rally is unlikely to continue unless either supply curbs are deepened or demand improves meaningfully." Aluminium increased by 0.8%, reaching $3,111 per ton. Zinc was up 1.5%, at $3,241.50, after hitting its highest level since October 2024. Lead climbed 1.2%, to $2,048. The price of tin rose by 4.6%, to $44,400. It had previously risen as high as 7.4% and reached its highest level since march 2022. (Reporting and editing by Janane Vekatraman, Joe Bavier and Lewis Jackson; Additional reporting and editing by Lewis Jackson and Dylan Duan)
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Venezuelan international bonds continue rallying after Maduro's capture
Venezuela's sovereign international bonds gained?more than 2 cents Tuesday, continuing a rally that began in the previous session. This was fuelled by the optimism of investors following the capture by the U.S. over the weekend of President Nicolas Maduro. Tradeweb data shows that the defaulted 2034 notes accounted for some of the largest gains. They added 2.5 cents to the bid price at 43.01 cents per dollar. Some bonds rose close to 10 cents on Monday. Petroleos de Venezuela bonds also rose in value, with the 2031 bond up by 2 cents and now bid at 42.60cents. Several of the 'bonds are trading at their highest level since Donald?Trump began his first term in January 2017. This marked the beginning of a sharp increase of U.S. sanction regime against Caracas, which saw Venezuela go into sovereign default. Since Trump began his second term, in January 2025, many bonds have nearly tripled in price. Fuelled by Hope For a regime change in Venezuela that would pave the way for a future debt restructuring. Jared Lou, portfolio director at William Blair Investment Management said: "We believe the outlook for debt restructuring could shift significantly, as expectations have improved for the ultimate?recovery of Venezuelan debt." Venezuelan bond values could rise if a credible, structured political transition takes place. This would allow U.S. oil companies to resume operations and enable sovereign debt restructuring. (Reporting and editing by Karin Strohecker; Andrew Heavens, Libby George)
Shareholder rights could be weakened by the new Trump order that reins in proxy advisors
Corporate governance analysts and lawyers said that a new White House directive aimed at reining in proxy advisory firms is a major step in a Republican effort to weaken investors' role and give more power to CEOs. U.S.?President Donald Trump last week told the U.S. Securities and Exchange Commission and others agencies to increase oversight over proxy advisers Institutional?Shareholder?Services and?Glass, Lewis & Co, who help mutual fund companies and big institutional investors decide on how to vote in corporate elections.
They are able to influence their clients because they hold important positions in Fortune 500 companies around the world.
Trump's order said the proxy firms often use their power "to advance and prioritize radical politically-motivated agendas," including supporting environmental and social issues at the expense of shareholder returns. The directive is at the core of a debate which has divided U.S. shareholders and European investors: How much should climate change or diversity in the workforce factor into investment decisions?
More than Money
"This is more than just fiduciary duty." Sarah Wilson, CEO at British proxy adviser Minerva Analytics, said that this is a geopolitical "warfare" through the financial markets. She said that Minerva’s clients are primarily based in Europe and the United Kingdom. They want to maintain their Russell 3000 investments, but they worry about Trump’s?order, and similar actions taken by Republican-led state.
Wilson explained that "our clients are not rabid socialists, but they do want to get good returns in the long run with a risk-adjusted return."
Trump's order directs, among other things the SEC to "revise?or repeal all rules" relating to shareholder proposals. This has investor activists worried that one of their main tools to pressurize companies could be taken from them.
Shareholders are often seen as being more accountable when they support proxy measures that call for limits on CEO compensation or voting for board directors. The agencies could reduce shareholder power if they follow Trump's orders. This would make it more difficult for investors to influence companies via proxy campaigns. Sanford Lewis, an attorney representing shareholder activists, stated that the order is based on premise issues such as diversity or the environment do not relate to financial performance.
Lewis stated that the White House is "trying their view on investors".
Take Politics Away
U.S. trade groups have praised the order as it will remove politics from business decisions and protect profits. Charles Crain is the managing vice president of the National Association of Manufacturers and said that Trump's plans will protect against the firms' excessive influence. He also addressed issues such as what he called the "investment advisors' over-reliance" on these entities.
Michael Littenberg of Ropes and Gray said that the order was part of a larger debate about?how investors can be protected while markets are robust.
He said, "We're in the middle of what will likely be a once-in a generation governance recalibration." Unnamed White House officials said that the order was meant to increase investors' focus on maximising returns.
"The only thing this executive order interferes with is the monopolistic ?practices of foreign-owned proxy advisors that seek to advance radical politically-motivated agendas," the official said.
PUNCHING BAGS
In 2020, Deutsche Boerse will buy the majority of Institutional Shareholder Services, a top proxy advisor. Glass Lewis is owned and operated by Canadian private equity firm Peloton capital, headed by Stephen Smith. Trump and his appointees began to reduce shareholder influence as soon as they took office. They have given boards greater control over annual meeting ballots, and put new filing requirements for index fund managers BlackRock or Vanguard, if management exerts pressure. Top CEOs such as Elon Musk, Jamie Dimon and other top executives have targeted proxy advisers. They also received support from pension fund and Democratic leaders. The firms took steps to reduce environmental shareholder resolutions in response to a larger backlash against their support for ESG investing. These shifts didn't spare them from ongoing scrutiny, even before Trump’s order. They also faced criticism from Republican-led states.
Dan Crowley is a partner at the Washington law firm K&L Gates. He said that Trump's executive order has continued to reduce shareholder engagement.
The order "perpetuates a fiction that investors are either concerned about ESG on the one hand, or about pecuniary return on the other. In reality, most large investors are concerned about ESG because of their potential impact on long-term risk-adjusted financial returns."
(source: Reuters)