On the back of the Fed Minutes, sellers of XAU/USD are targeting $1,848
On the back of the Fed Minutes, sellers of XAU/USD are targeting $1,848 During Wednesday’s Asian session, the gold price (XAU/USD) posts its first daily loss in five days, dropping to an intraday low of roughly $1,860. The recent weakness of the metal could be linked to the US dollar’s recovery from a monthly low […]
Gold prices fall as the dollar tries to recover
Gold prices fall as the dollar tries to recover Gold prices fell marginally on Tuesday as the dollar recovered slightly after a recent dip, impacting on demand for greenback-priced gold. After reaching to its highest level since May 9 of $1,865.29 on Monday, spot gold dipped 0.2 percent to $1,850.40 per ounce at 0240 GMT. […]
Oil rises as traders consider a tight fuel market and poor global growth
Oil rises as traders consider a tight fuel market and poor global growth Investors evaluated tight product markets against concerns about slowing global growth as oil prices increased at the start of the week. Following four weeks of advances, West Texas Intermediate rose beyond $111 a barrel, the longest such run since February. Prices of […]
In the idle markets, XAU/USD remains protective at $1,800
In the idle markets, XAU/USD remains protective at $1,800 As global markets battle for clear directions to extend the previous optimism, gold (XAU/USD) prices drop from intraday highs, being range-bound near $1,813-18. During a sluggish Asian session on Wednesday, the precious metal maintained its previous day’s fall from the 200-DMA. The current Fed speak is […]
Oil prices starting to fall as EU tries for Russia import ban
Oil prices starting to fall as EU tries for Russia import ban Oil prices fell in early Asian trade on Tuesday as the European Union’s efforts to establish a ban on Russian oil imports, which would reduce global supply, were met with opposition from Hungary. At 0004 GMT, Brent crude prices were down 35 cents, […]
Gold is rising from three-month lows as bond rates in the United States fall
Gold is rising from three-month lows as bond rates in the United States fall Lower U.S. Treasury rates maintained demand for zero-yield metal afloat above the important psychological support level of roughly $1,800 per ounce on Monday, lifting gold from a more than three-month low reached the previous session. As of 0227 GMT, spot gold […]
As oil stocks rise, Wall Street is turning away from big tech
As oil stocks rise, Wall Street is turning away from big tech On Wall Street, big tech stocks were all the rage, with speculators buying them up to absurdly high levels. For example, the legendary quintuple of Facebook (now Meta), Amazon, Apple, Netflix, and Google (now Alphabet) took up about a fifth of the S&P […]
Gold drops as investors consider US Inflation data
Gold drops as investors consider US Inflation data In Asia on Thursday morning, gold was down. Investors are analyzing the US consumer price index (CPI), which showed that inflation is still strong but has peaked in April, alleviating fears about the Federal Reserve raising interest rates more aggressively. By 11:12 p.m. ET, gold futures had […]
Gold rates are approaching their lowest in three months, while silver prices are also down
Gold rates are approaching their lowest in three months, while silver prices are also down Gold prices in plummeted to near three-month lows ahead of the release of monthly US inflation statistics, which experts believe would have an influence on the Federal Reserve’s monetary policy stance. Later in the day, at 6 p.m., the US […]
Crude Oil Prices May Fall Further Following Saudi Price Cut
Crude Oil Prices May Fall Further Following Saudi Price Cut Following a significant overnight decrease, WTI crude oil prices were expected to fall further in Asia-Pacific trade. Bloomberg reported that the European Union is modifying its stance on a potential embargo on Russian oil, which appeared to trigger the most of the selling. Hungary’s objections […]
Oil falls due to global economic fears, ahead of the EU decision on Russia’s oil ban
Oil falls due to global economic fears, ahead of the EU decision on Russia’s oil ban Oil prices fell on Monday, along with Asian stock markets, on worries of a worldwide recession reducing oil consumption, with investors eyeing European Union discussions on a Russian oil embargo, which is likely to constrain global supply. By 0153 […]
Supply fears continue, oil prices climb, despite stock market declines
Supply fears continue, oil prices climb, despite stock market declines Crude prices rose for the third day in a row on Friday, shrugging aside concerns about global economic growth as fears about tighter supply supported prices ahead of an imminent European Union ban on Russian oil. Brent futures were up 84 cents, or 0.8 percent, […]
Opec+ expects a minor increase in oil production as demand dented by China Covid-19 rules
Opec+ expects a minor increase in oil production as demand dented by China Covid-19 rules Opec+ members are anticipated to agree on a small rise in oil output on Thursday (May 5), boosted by threats to demand due to coronavirus restrictions in China. Russia’s invasion of Ukraine has further heightened supply fears, which have been […]
Gold falls as rates rise ahead of the Fed’s rate hike decision
Gold falls as rates rise ahead of the Fed’s rate hike decision Gold prices dropped on Wednesday as increased US Treasury rates and the Federal Reserve’s anticipated interest rate rise announcement dampened demand for zero-yield metal. As of 0217 GMT, spot gold was down 0.3 percent at $1,862.48 per ounce. Gold futures in the United […]
Gold and silver prices have fallen by more than 2% due to high volatility
Gold and silver prices have fallen by more than 2% due to high volatility The precious metal market has been hammered by a perfect storm of market volatility, rising bond rates, and a strong US currency, sending gold and silver prices substantially lower. Gold’s reluctance to break over $1,920 an ounce has been highlighted by […]
Germany: It’s ‘realistic’ to stop using Russian oil by the end of the summer
Germany: It’s ‘realistic’ to stop using Russian oil by the end of the summer Germany claims to be making extra effort to disassociate itself off Russian fossil resources, , estimating that it will be completely independent on Russian crude oil imports by late summer. According to Economy and Climate Minister Robert Habeck, Europe’s largest economy […]
Oil prices are falling as China’s economic slowdown has a negative impact on demand
Oil prices are falling as China’s economic slowdown has a negative impact on demand Oil prices fell on Friday as China’s COVID-19 lockdowns weighed on the outlook for petroleum demand; though supply disruption fears fueled by Western sanctions limiting Russia’s crude and product exports. By 0040 GMT, Brent crude futures had fallen 4 cents to […]
Gold is near a two-month low due to a stronger dollar & the possibility of a rate hike in U.S.A
Gold is near a two-month low due to a stronger dollar & the possibility of a rate hike in U.S.A In Asia on Thursday morning, gold was down, hitting a two-month low. The yellow metal’s demand was harmed by a rising dollar and the prospect of a rate hike in the United States weakened […]