Gold touched $2015 per ounce earlier on Friday, supported by the softer US dollar and rising US Treasury yields in the face of ongoing inflationary signals. The price of an ounce of the precious metal is $2012.51 at the time of writing.US PPI and Core PPI beat estimates, suggesting persistent …
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Subdued Performance Overview:Gold faces downward pressure for the second consecutive week on Friday, as unexpected upticks in US consumer prices prompt traders to reassess their outlook on interest rate cuts. However, the precious metal sees a partial recovery following a decline in consumer spending. Gold Price Movement:Spot gold settled at …
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Subdued Movement Overview:Oil prices displayed a mixed performance on Friday as market participants weighed expectations of slowing demand against hopes for potential interest rate cuts in the United States. Brent crude futures experienced a marginal decline, while US West Texas Intermediate crude futures saw marginal gains. Price Dynamics:Brent crude futures …
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The Atlanta Fed GDPNow estimates for first-quarter growth dipped to 2.9% from 3.4%. Atlanta Fed GDPNow’s report reads as follows: “The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2024 is 2.9 percent on February 15, down from 3.4 percent on February …
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Gold prices have been trading at $2,003.70 per ounce, up 0.73% since yesterday’s price and down 3.03% from the beginning of the year. At the time of writing, gold is trading at $2004.44 per ounce, up +0.63%. Mixed US economic data has impacted the US Dollar, with US Treasury yields …
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IEA’s Revised Outlook:The International Energy Agency (IEA) announced on Thursday a downward revision in its forecast for global oil demand growth, indicating a loss of momentum in the sector. The agency anticipates a slower pace of growth, projecting an increase of 1.22 million barrels per day in 2024. This figure …
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Gold prices remained resiliently near a two-month low, reflecting the market’s response to mixed commentary from Federal Reserve officials regarding January’s inflation data. This dynamic has tempered expectations for a significant cut in interest rates, prompting investors to closely monitor developments in the precious metals market. Assessment of Market Movement:In …
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The US Dollar retreated after a strong rebound on Tuesday due to CPI, easing the pressure in the risk-linked universe. The USD Index (DXY) fell from multi-week highs near the 105.00 barrier due to uneven improvement in the risk complex.Economic DataRetail Sales, the Philly Fed Manufacturing Index, Industrial Production, the …
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Wednesday witnessed a decrease in crude oil price following an earlier surge. US Crude stocks are still rising more quickly than the markets had predicted. Barrell prices are floored by geopolitical headlines. Early on Wednesday, WTI crude oil touched new multi-week highs around $78.50, but US barrel counts revealed an …
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Natural gas prices have fallen by 20% since February, with the US Dollar Index consolidating gains on Wednesday. The commodity’s prices have been negatively impacted by February, with Shell issuing an outlook where Liquefied Natural Gas demand will be substantially decreased by 2040, reflecting global pushes to abandon fossil fuels. …
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