0857 GMT - Oil prices slip in early trade as the market braces for U.S. President-elect Donald Trump's first policy moves after his inauguration later Monday. Brent crude and WTI are both down 0.4% at $80.44 and $77.07 a barrel, respectively. Last week's crude rally seems to have run out of steam, with traders now waiting to see the impact of Trump's expected blitz of executive orders--from domestic oil production to trade tariffs and sanctions. "Trump has promised he will work to end the Russia-Ukraine war quickly, which could involve relaxing some curbs to enable an accord," ANZ Research analysts say in a note. Meanwhile, traders are also keeping a close eye on the cold snap across Texas's key shale-oil-producing Permian Basin. "Extreme cold could disrupt oil flow and hinder millions of barrels from entering the market," the analysts say. (giulia.petroni@wsj.com)
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Gold's Haven Appeal Beams Bright Ahead of Trump's Inauguration -- Market Talk
0700 GMT - Gold's risks seem skewed to the upside ahead of Trump's inauguration, as investors brace for policy shifts with economic implications, says Pepperstone research strategist Ahmad Assiri. Trump's executive orders are likely to set the tone for gold in the weeks ahead, he adds. Gold is already up 3% YTD, above the $2,700 mark, amid political and trade uncertainties. If Trump enacts tariffs that disrupt trade flows and amplify economic volatility, gold's role as a safe asset will be reinforced, Assiri says. Recent U.S. inflationary pressure adds to gold's appeal, as the metal has historically served as a reliable hedge against inflation as well. A call between Trump and China's Xi over the weekend temporarily eased risk premiums in Asia markets, but the potential for a trade war underscores gold's enduring haven demand, he says. (fabiana.negrinochoa@wsj.com)
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Iron Ore Falls; Fundamentals Appear Resilient -- Market Talk
0240 GMT - Iron ore falls in early Asian trade. Prices have recently rallied as market sentiment improves following strong Chinese trade data, ANZ Research analysts write in a note. However, the ferrous metal's fundamentals remain resilient, Nanhua Futures analysts say in a note. They note that short-term prices appear overvalued from a technical perspective, and a correction is expected in the near-term. The most-traded iron-ore contract on the Dalian Commodity Exchange is down 0.4% at CNY772.5 a ton.(amanda.lee@wsj.com)
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(END) Dow Jones Newswires
01-20-25 1111ET