Brazilian President Luiz Inacio Lula da Silva announced an agreement allowing Brazil to utilize Uruguay's surplus beef export quota for China, a move that could help Brazilian exporters avoid steep tariffs in a critical market.
Diesel prices in Europe and the United States have surged to all-time highs as conflicts disrupt exports from key producers like Russia and Saudi Arabia, straining global refining capacity and pointing to further price increases.
U.S. President Donald Trump reportedly declined to offer direct military assistance to Yemeni President Rashad al-Alimi during a recent phone call concerning advances by Iran-backed Houthi forces near a key global shipping lane.
Agricultural commodity prices rose Monday, with soybeans and corn leading gains as traders anticipated a key meeting between U.S. and Chinese leaders that could boost export demand. Wheat prices also advanced amid renewed geopolitical tensions in the Black Sea region.
UBS projects significant upside for silver, forecasting a price of $80 per ounce by September 2027, as the metal is expected to track a supportive gold market and benefit from robust industrial demand.
The investment firm revised its long-term gold price target downward due to shifting interest rate expectations but believes the metal's resilience is underpinned by central banks diversifying away from the U.S. dollar.
Silver prices are facing near-term pressure from U.S. interest rate policy and a strong dollar, creating a complex outlook that contrasts with a supportive medium-term thesis based on structural supply deficits and robust industrial demand.
After a week dominated by central bank decisions, investors are now turning their attention to high-level diplomacy, including a key U.S.-China summit, as geopolitical conflicts and volatile energy prices continue to shape market sentiment.
Iran-backed Houthi fighters are pushing to seize strategic mountains in Yemen, aiming to secure control over the crucial Bab al-Mandab Strait. The advance comes as reports suggest the U.S. called off airstrikes against the group, escalating risks to global oil supply routes.
