WTI prices rose for the seventh straight session, breaking through the $78.00 per barrel. These gains have always been supported by geopolitical concerns, constrained supply concerns, and the positive monthly report from OPEC.Gold prices broke through the crucial downward zone below $2,000 per troy ounce as a result of the …
Read More »Gold price declines following surprise CPI data
The price of an ounce of gold has dropped below $2000 for the first time since mid-December. As of this writing, the price of an ounce of the precious metal is $1992.07. Gold prices plummet due to unyielding US inflation statistics. The US dollar returns to its nearly two-month high …
Read More »OPEC Upgrades Economic Growth and Oil Demand Outlook
In its latest monthly report, OPEC has revised its global economic growth forecasts upward for 2024 and 2025, projecting a more optimistic outlook with expectations set at 2.7% and 2.9% respectively. On the oil front, OPEC maintains a steady outlook for global oil demand growth, with projections holding firm at …
Read More »Dollar Approaches Key Level Against Yen, Bitcoin Holds Above $50,000by US dollar’s gains
The dollar edged closer to the psychologically significant level of 150 yen on Tuesday, maintaining stability as markets anticipated the release of crucial US inflation data later in the day. Meanwhile, Bitcoin continued its steady hold above the $50,000 mark for the second consecutive day. Trading activity in Asia remained …
Read More »Oil rises amid risks of tension in the Middle East
Oil prices rose slightly on Tuesday amid concerns that tension in the Middle East could disrupt supplies, but uncertainty about the pace of potential US interest rate cuts and the impact on fuel demand limited gains. By 0420 GMT, Brent crude futures rose seven cents, or 0.1 percent, to $82.07 …
Read More »Market Drivers – US Session, February 12
Financial markets navigated in a very modest range after a slow start to the new trading week as market participants exercised caution ahead of the release of significant US inflation reading on February 13.The USD Index finished the session marginally different from Friday’s closing levels in the low-104.00s amid varied …
Read More »Crude oil still surging around recent gains
Due to the weight of global stories, crude oil prices are still holding to recent highs. Hopes for a Gaza ceasefire are still alive, but emotions are still high.The OPEC production limitations are mitigated by the ongoing increase in US crude oil production. As a possible truce in the Gaza …
Read More »Gold Prices Hold Steady Amid Holiday Lull, Await Fed Remarks and Data
Gold prices stabilized on Monday, experiencing modest trading activity as investors awaited statements from Federal Reserve officials and key economic data releases. Here’s a breakdown of the latest developments influencing the precious metal market: Stable Gold Prices Amid Holiday Period Gold settled in spot trading at $2,023.03 per ounce, showing …
Read More »Weekly Recap: Markets bracketed by Powell’s interview, revised US inflation
Due to the parity of factors that affected the trading environment over the preceding period, the price movement of practically all traded assets closed last week’s trading on the global financial markets with a moderate change.These factors started with investors’ focus on the statements and comments by Federal Reserve Chair, …
Read More »Gold expected to register weekly decline on surging T-yields
Under pressure from high Treasury yields, gold fell on Friday and was on track for a weekly decline as investors anticipated US inflation data the next week for further hints about when the Fed will decrease interest rates.At 10:16 a.m. ET (15:16 GMT), spot gold was down 0.4% at $2,025.49 …
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