WTI Remains Under $85.50 Amid Concerns Over Inflation
WTI Remains Under $85.50 Amid Concerns Over Inflation Western Texas Intermediate (WTI), the benchmark for U.S. crude oil, lingered around $85.00 per barrel on Friday, reflecting a subdued trading environment amid inflationary concerns. The price of WTI dipped slightly as expectations for imminent U.S. interest rate cuts diminished due to persistently high inflation rates. This […]
Worst Quarter for Metals Cap since 2008 due to Global Recession
Worst Quarter for Metals Cap since 2008 due to Global Recession Base metals experienced their greatest quarterly decline since the global financial crisis of 2008 as worries about a worldwide recession increased and China’s economy very slowly recovered. Although the decrease has been accentuated by price spikes that month as a result of Russia’s invasion […]
Oil declines 2% as fuel supplies and output rise in U.S.A
Oil declines 2% as fuel supplies and output rise in U.S.A On Wednesday, oil prices fell by around 2% as concerns about a shortage of crude oil were somewhat offset by an increase in gasoline and distillate stocks in the United States and concerns about weaker global economic growth. Brent futures for August delivery decreased […]
Over the past 24 hours, crude oil prices increased while gold prices decreased
Over the past 24 hours, crude oil prices increased while gold prices decreased Over the past 24 hours, gold prices have been trending marginally lower as crude oil prices managed to end the day positively. An increase in the US dollar, which resulted from risk aversion as the tech-heavy Nasdaq 100 fell more than 3 […]
UAE claims it has no spare capacity, oil prices jump by 1%
UAE claims it has no spare capacity, oil prices jump by 1% The energy minister of the United Arab Emirates stated that the country is producing near capacity, defying expectations that this could assist boost supply in a tight market. As a result, oil prices increased by nearly 1% in early Asian trade on Tuesday. […]
Gold prices increase as ban on new Russian imports
Gold prices increase as ban on new Russian imports Gold prices rose on Monday as speculation grew that some Western countries could formally forbid the import of the metal from Russia in response to that country’s invasion of Ukraine. By 0231 GMT, spot gold increased 0.5 percent to $1,835.58 per ounce. At $1,836.30, U.S. gold […]
As the commodity markets drop, gold and silver decline
As the commodity markets drop, gold and silver decline As the metals markets are participants in a general erosion of the commodity markets driven by crude oil, gold and silver prices are slightly lower in lunchtime U.S. trade on Thursday. Fears of a U.S. and worldwide economic crisis as well as predictions of decreased demand […]
As US administration strives for lower gasoline cost, oil prices are falling
As US administration strives for lower gasoline cost, oil prices are falling Oil prices fell sharply in early trade on Wednesday, despite US President Joe Biden’s efforts to lower increasing fuel costs, which included pressure on large US corporations to help drivers during the country’s peak summer demand. At 00:31 GMT, US West Texas Intermediate […]
Prior to the European open, gold and silver are trading lower
Prior to the European open, gold and silver are trading lower Gold prices have retraced ahead of the European open after a strong day on Thursday (-0.62%). It has a similar effect as silver (-0.28%), albeit to a smaller amount. Copper is trading flat in the rest of the commodities complex, but spot WTI is […]
Gold rises as the dollar falls in anticipation of the Fed’s decision
Gold rises as the dollar falls in anticipation of the Fed’s decision The dollar index fell 0.2 percent on the day after hitting a near two-decade high the day before, while benchmark US 10-year Treasury yields also fell from multi-year highs. According to Saxo Bank analyst Ole Hansen, gold is trapped between “those focusing on […]
Investors expect a major Fed rate hike; gold is higher on lower yields
Investors expect a major Fed rate hike; gold is higher on lower yields Weaker Treasury yields raised gold prices from near one-month lows on Wednesday, ahead of a possible aggressive interest rate hike by the US Federal Reserve to combat inflation amid rising fears of an oncoming recession. As of 0229 GMT, spot gold was […]
Despite growing hawkish Fed bets, XAU/USD remains steady near $1,880
Despite growing hawkish Fed bets, XAU/USD remains steady near $1,880 Despite rising predictions on the Federal Reserve (Fed) taking an extreme hawkish posture this week, gold price (XAU/USD) is bouncing in a small range of $1,868.92-1,879.25 in the early Asian session. Following the announcement of the US Consumer Price Index (CPI) on Friday, the precious […]
Beijing’s COVID warning and inflation fears resulted fallen in prices of Oil
Beijing’s COVID warning and inflation fears resulted fallen in prices of Oil On Monday, oil prices fell more than $2 as a flare-up in COVID-19 cases in Beijing dampened prospects for a quick increase in China’s fuel demand, while concerns about global inflation and economic development weighed on the market. By 0033 GMT, Brent crude […]
XAU/USD is at a crossroads, and US inflation is the key
XAU/USD is at a crossroads, and US inflation is the key Gold Price found strong bids just below $1,842 and mounted a nice return to close a stormy Thursday with minor losses at $1,848. The shiny metal remained turbulent, but stayed within its usual price range of $1,850. Financial markets were dominated by risk-off flows. […]
XAU/USD closes in to the golden ratio of 61.8 percent
XAU/USD closes into the golden ratio of 61.8 percent In Asia, the price is attempting to break below the 50% mean reversion line, exposing the 61.8 percent Fibo target of $1,850 once more. Following a move into the 50 percent mean reversion level of the hourly bullish impulse highlighted in earlier trading, the gold price […]
On constrained supply, oil rises 1%, with US crude hitting a 13-week high
On constrained supply, oil rises 1%, with US crude hitting a 13-week high On Tuesday, oil prices rose by around 1%, with U.S. crude settling at a 13-week high due to supply concerns, including the likelihood of no nuclear deal with Iran and forecasts for demand growth in China, which is reducing pandemic lockdowns. According […]
Oil falls after breaking through $120 as inflation and GDP concerns in the United States bite
Oil falls after breaking through $120 as inflation and GDP concerns in the United States bite In Monday’s session, oil rose to near three-month highs above $120 a barrel before falling on profit-taking and concerns about the impact on the US economy of record fuel prices in a country already grappling with 40-year high inflation. […]
US jobs report indicates more rate hikes are on the way, gold prices are rising
US jobs report indicates more rate hikes are on the way, gold prices are rising Even as the US jobs report suggested additional interest rate hikes this year, gold was up in Asia on Monday morning, putting pressure on non-yielding bullion. By 10:26 p.m. ET, gold futures were up 0.32 percent to $1856.20. (2:26 AM […]