Financial Analyst/Content Writer, RADEX MARKETS
Lawrence J. came from a strong technical and engineering background before pivoting into a more financial role later on in his career. Always interested in international finance, Lawrence is experienced in both traditional markets as well as the emerging crypto markets. He now serves as the financial writer for RADEX MARKETS.
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Uncertainty is back on the menu. The inauguration is now only three days away and many traders appear to have rebalanced their risk appetite. Gold finally saw some decent inflows this week, which pushed the precious metal to $2,725 an ounce during yesterday’s session, the highest valuation seen for over a month. The incoming president is nothing if not unpredictable and his first days in office could make for volatile trading conditions.
Cryptocurrency markets also made a move over the past few days, which saw bitcoin prices breach $100k once again and push as high as $102k in the early hours of this morning. Crypto markets obviously do not qualify as safe-haven assets, rather the optimism stems from the expectation that the new regime will be far more accommodating to the technology itself, especially in terms of regulatory clarity. For traders and developers alike, the previous four years have been somewhat difficult to navigate and many will be hoping to see an end of the quagmire. In a recent interview, Blackrock’s ETF chief, Samara Cohen, predicted that cryptocurrency deregulation would propel bitcoin to another historic year. Time will tell.
Oil prices took another step higher on Wednesday, as US crude inventories fell to their lowest level since 2022. Import-export dynamics continue to be the main driver behind the price action, but once again the incoming Trump presidency could throw an additional spanner in the works in the form of tariffs or sanctions. Futures for Brent crude and WTI rose to $82 and $80 a barrel respectively.
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