Commodity Prices Today, February 13, 2025: CPO and Gold Rise, Coal Corrects

Gold prices were observed to rise slightly and move close to record highs as the market digested the latest US inflation data and statements from Federal Reserve Chairman Jerome Powell.

Quoting Bloomberg on Thursday (13/2/2025), the price of gold on the spot market edged up 0.2% to US$2,902.78 per ounce. Previously, the price of gold peaked at US$2,942 per ounce. Meanwhile, the price of comex gold futures recorded a slight decline to US$2,925 per ounce.

US inflation increased broadly earlier this year, further weakening the chances of a Fed rate cut this year, at the same time as the Trump administration continues to implement tariffs.

Meanwhile, US President Donald Trump called for interest rate cuts as Powell continued his second day of testimony before the House Financial Services Committee.

Powell stated that the US central bank will make decisions on interest rates over time. He added that the US inflation figures announced on Wednesday (12/2/2025) show that the US is close to reaching its goal.

He told US senators that the Fed will be patient before further easing monetary policy. Policy makers held rates steady at the first meeting of the year, January 2025, as they wanted to see further progress in moderating inflation.

Gold prices have surged higher this year, setting consecutive records and potentially testing US$3,000 per ounce. The surge has been supported by growing demand for safe haven assets as US President Donald Trump launches a series of aggressive moves on trade, including planned levies on steel and aluminum imports.

Traders are trying to read the potential implications for the US economy and monetary policy if the White House's stance on trade and immigration reignites inflation and impacts growth. In his testimony, Powell said it would be unwise to speculate on tariff policy.

The recent rise in gold prices has been accompanied by an influx of bullion-backed exchange-traded funds. Global holdings have increased 1.2% so far this year, reaching the highest level since November 2024, according to Bloomberg calculations.

Coal Price

Meanwhile, based on data from Bar Chart, the February 2025 contract coal price at ICE Newcastle fell 0.24% to US$104.50 per metric ton. Meanwhile, the price of coal for the March 2025 contract rose 0.75% to US$ 107.50 per metric ton.

Quoting Bloomberg, US Energy Secretary Chris Wright said that Uncle Sam's country must stop closing coal-fired power plants. He said the fuel source will be critical to the US power system in the coming decade.

“We are on a path to continue to shrink our electricity generated from coal. This makes electricity more expensive and our grid less stable,” Wright said.

Wright's remarks come as demand for electricity rises to meet the needs of power-hungry data centers, new factories and the overall electrification of the economy.

President Donald Trump has called for more stable sources while criticizing renewable energy as unreliable. Although gas-fired power plants are expected to supply most of the need, Trump last month suggested fossil fuels as a power source for data centers.

However, Wright acknowledges that a revival of the fuel source is unlikely. Coal-fired power plants have struggled in the face of low prices from natural gas and to a lesser extent renewable energy-and have faced regulatory pushback for being a dirty fossil fuel.

Coal accounts for about 15% of electricity generation in the US today, down from half in 2000, according to the US Energy Information Administration.

“The best thing we can hope for in the short term is to stop coal plant closures...No one wins with that action,” Wright said.

CPO Price

Meanwhile, the price of palm oil or CPO futures at the close of trading on Wednesday (12/2/2025) February 2025 contract strengthened 46 points to 4,874 ringgit per ton on the Malaysia Derivatives Exchange. Then, the March 2025 contract also rose 37 points at 4,726 ringgit per ton.

According to Bernama, CPO prices are expected to remain stable this year, ranging between 4,000 and 5,000 ringgit per metric ton.

MIDF Amanah Investment Bank Bhd's research arm, MIDF Research, said that for this month, stability will be driven by stock replenishment activities ahead of Ramadan, along with slower palm oil production and lower levels of closing stocks.

“CPO prices for delivery ended the month at 4,600 ringgit per metric ton, with an average price of 4,673 ringgit per metric ton or -8.7% month to month [MtM] and +23.5% year on year [YoY] due to concerns over rising supply risks before Ramadan,” MIDF Research said in a note.

In line with MIDF, CIMB Securities Sdn Bhd expects CPO prices to remain strong, given the low stock levels of palm oil in major producing and consuming countries.

“We maintain our average CPO price forecast of 4,200 ringgit per metric ton for 2025 and project that growers will report better earnings in Q4/2024, supported by higher CPO prices and increased production from Indonesia,” it added.

Meanwhile, Hong Leong Investment Bank Bhd Research maintained its 2025 and 2026 CPO price assumptions of 4,000 ringgit per metric ton and 3,800 ringgit per metric ton respectively and its 'neutral' stance on the sector.

“We maintain our view that CPO prices will remain at elevated levels in the near term, possibly until the end of Q1/2025, due to weak near-term production outlook, and CPO price strength will subside thereafter,” it added.

Source : https://www.msn.com/id-id/berita/other/harga-komoditas-hari-ini-13-februari-2025-cpo-dan-emas-naik-batu-bara-terkoreksi/ar-AA1yVMcO