Gold

Gold prices hit a two-week high, trading around $2,698 per ounce, thanks to expectations of a Fed rate cut and heightened geopolitical tensions. Investor confidence is supported by continued gold purchases by central banks. The gold price is on track for its best performance since 2010, up 31% year-to-date.

Oil

Oil prices rose moderately amid expectations of demand growth in China due to monetary policy easing in 2025. Brent is trading at $72.29 a barrel, while WTI is trading at $68.68. China increased oil imports in November by 14% year-on-year, the first time in seven months. However, rising US oil and fuel inventories are limiting the upside potential for prices.