Gold price (XAU/USD) extends its losses on Friday, plunges nearly 10% to sink below $4,900 after US President Donald Trump revealed his pick for Fed Chair, while a hot inflation reading in the US justified the Federal Reserve’s (Fed) decision on Wednesday to keep rates steady.

United States Baker Hughes US Oil Rig Count below forecasts (412): Actual (411)

TD Securities' Ryan McKay highlights a shift in oil market fundamentals, suggesting a potential pull-back in prices. The report indicates that a loosening of near-term fundamentals could reduce crude oil prices by at least $2-3/bbl, while geopolitical risks may also impact market dynamics.

Silver (XAG/USD) comes under intense selling pressure on Friday, posting a sharp correction after reaching a record high the previous day.

Bob Savage, Head of Markets Macro Strategy at BNY, notes a significant correction in Gold prices, driven by the nomination of Kevin Warsh as the next Fed chair, which has strengthened the U.S. Dollar. Gold fell sharply, with a 5.9% drop, while Silver and Platinum saw declines of over 10%.

Gold (XAU/USD) comes under intense selling pressure on Friday, giving back all the gains registered earlier this week as extreme volatility triggers broad-based liquidation of leveraged positions. Meanwhile, traders also lock in profits at elevated price levels.

Gold’s (XAU/USD) rally came to an abrupt halt on Thursday. The precious metal dropped nearly 10% in less than 24 hours and is trading around $5,080 at the time of writing, with the $5,000 psychological level at a short distance.

Silver prices (XAG/USD) fell on Friday, according to FXStreet data. Silver trades at $100.67 per troy ounce, down 13.63% from the $116.56 it cost on Thursday.

Rabobank's report notes that Gold has seen a significant retracement, ending its record-breaking streak. The precious metal is currently down about 8% from its peak, influenced by market reactions to potential changes in US monetary policy.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $64.00 during the early European trading hours on Friday. The WTI price falls after hitting its highest since late September as oversupply concerns weigh on the price. 

Gold prices fell in India on Friday, according to data compiled by FXStreet.

Gold price (XAU/USD) holds positive ground around $5,405 during the early Asian session on Friday. The precious metal hit a record high near $5,600 before paring gains due to profit-taking in the previous session.

Gold (XAU/USD) trims some of its earlier losses on Thursday as traders book profits following the Federal Reserve’s (Fed) monetary policy decision, which barely moved the needle as the yellow metal seems poised to record its best month since the 1980s.

Gold (XAU/USD) plummets more than 3% on Thursday amid the lack of a catalyst that has pushed Silver’s down, cooper prices retreating, and six of the Mag 7 equities getting hammered during the North American session. XAU/USD trades at $5266 after reaching a record high near $5,600.

West Texas Intermediate (WTI) Crude Oil extends its advance on Thursday, climbing to its highest level in four months as geopolitical risk premiums linked to rising US-Iran tensions underpin prices.

Silver (XAG/USD) is retreating sharply and trades around $109.40 on Thursday at the time of writing, posting a 6.50% decline on the day, after reaching a fresh all-time high at $121.66.

Brent crude has surpassed $70 per barrel for the first time since September, driven by rising tensions with Iran and broader geopolitical risks.

Another day, another all-time high for Gold (XAU/USD), which has been breaking records for nine consecutive days, showing a dizzying 20% rally in less than two weeks. The pair remains bid on Thursday, as the US Dollar seems unable to perform any significant recovery.

Gold (XAU/USD) adds another leg to its relentless rally on Thursday, building on the previous day’s solid gains of 3.87% as increased volatility and ongoing safe-haven demand continue to drive strong inflows into Bullion.

Gold prices surged to an all-time high above $5,500/oz, driven by US dollar weakness and expectations of further monetary easing from the Federal Reserve. The precious metal extended its rally, marking significant gains in recent sessions, notes UOB Global Economics & Markets Research.

Silver prices (XAG/USD) broadly unchanged on Thursday, according to FXStreet data. Silver trades at $116.51 per troy ounce, broadly unchanged 0.04% from the $116.47 it cost on Wednesday.

Deutsche Bank's report notes that Brent Oil prices have increased due to rising geopolitical tensions, particularly concerning Iran. The report mentions that Brent is trading at its highest since late-September, with a notable rise of 1.23% and further gains observed in the following morning.

West Texas Intermediate (WTI) Oil prices extends its gains for the third successive session, trading around $64.00 per barrel during the early European hours on Thursday.

Gold prices rose in India on Thursday, according to data compiled by FXStreet.

West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $63.60 during the Asian trading hours on Thursday. The WTI price rises to its highest since late September as crude oil inventories drop and geopolitical tensions in Iran escalate. 

Gold price (XAU/USD) surges to a fresh record high of $5,579 before retreating to around $5,500 in early Asian trading on Thursday. The rally of the precious metal is bolstered by strong safe-haven demand amidst persistent geopolitical tensions, economic uncertainty, and a weaker US Dollar (USD).

Gold price retreats during the North American session as the Federal Reserve keeps rates steady while also revealed that the labor market stabilized, which warrants maintaining the Fed funds rate higher for longer.

Gold price (XAU/USD) rallies and refreshes all-time highs past the $5,300 figure on Wednesday, following the Greenback’s fall on Tuesday as US President Donald Trump said the value of the Dollar was "great" when asked in Iowa. XAU/USD trades at around $5,290, up more than 2%.

United States EIA Crude Oil Stocks Change fell from previous 3.602M to -2.296M in January 23

Bob Savage, BNY's Head of Markets Macro Strategy, notes that Oil and gasoline inventories are crucial as the market anticipates potential price breakouts. U.S. Secretary of State Marco Rubio's warning to Venezuela adds to the geopolitical risks surrounding Oil.