Gold is trading around $2035 per ounce at the time of writing. It is worth mentioning that the precious metal’s price previously surged more than 20% to a record high of $2135 in 2023. Economists and experts predict that gold’s upside will soon reach a ceiling. It is generally predicted …
Read More »Oil rises as traders focus on navigation developments in the Red Sea
Oil prices experienced a notable surge on Wednesday, following a more than one percent increase in the previous session, driven by concerns over global trade disruptions and heightened geopolitical tensions in the Middle East. The catalyst for this upswing was the recent series of Houthi attacks on ships in the …
Read More »Market Drivers – US Session, December 19
The Japanese Yen suffered a significant decline on Tuesday as a result of the Bank of Japan’s dovish stance. Governor Kazuo Ueda noted the challenge of articulating a plan to leave the negative interest rate policy, but the BoJ did not specify a timeline for liftoff. The USD/JPY pair first …
Read More »Explainer: Short-Dated Debt Becoming More Attratctive On Wall Street
The Treasury market is focusing on short-term debt with a 4%-plus yield as the Fed gears up to lower rates and support a soft landing. This sentiment is driven by the belief that the economy may avoid a recession and investors’ lack of appetite for longer-term securities. The two-year Treasury …
Read More »Gold eyes extending gains above $2,050.00
As of writing, the price of gold has surged by 0.55% to $2,038.16 per ounce. The yield on the 10-year US Treasury note is at its lowest level since July as interest rates continue to decline. The US Core Personal Consumption Expenditures (PCE) Price Index is still the major focus. …
Read More »How do US dollar, oil price react to current Red Sea tensions?
The United States launched Operation Prosperity Guardian, a multilateral naval operation involving the United Kingdom, Canada, France, Bahrain, Norway, and Spain. Oil tycoon BP has temporarily stopped shipping any crude along the route; rival energy tycoon Shell has not yet responded.Oil PricesAttacks on commercial ships in the Red Sea have …
Read More »Gold is confined to a narrow range with focus on US inflation data
Gold prices fell in limited trading on Tuesday as investors awaited more US economic data this week that may shed light on the Federal Reserve’s monetary policy outlook. By 0535 GMT, gold in spot transactions fell 0.1 percent to $2,024.49 per ounce. US gold futures also fell 0.1 percent to …
Read More »Market Drivers – US Session, December 17
The US Dollar Index ended Monday’s quiet session unchanged at 102.60. US 10-year yield increased slightly, but it remained below 4%. Wall Street saw increases in stocks, as the Dow Jones hit a new all-time high.Despite rising yields, gold only slightly increased and fell short of regaining $2,030. XAU/USD is …
Read More »WTI surges on geopolitical tension amid supply disruptions concerns
Middle East geopolitical concerns have caused a more than 2% increase in WTI crude oil prices. Attacks on ships by a militant organisation associated with Iran that disrupt oil shipping routes across the Red Sea serve as the impetus for the rally. The price of WTI is supported by geopolitical …
Read More »Statement: BP temporarily suspends all transportation operations through the Red Sea
British Petroleum, the leading oil company, said on Monday that it was temporarily suspending all transportation operations through the Red Sea after attacks launched by the forces of the Houthi group, which controls most of Yemen at the weekend. The company added in a statement: “The safety and security of …
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