Commodities

The dollar stabilized in Asian markets on Tuesday, but struggled to move away from its lowest levels in five weeks, as dealers believed that banking pressures would prevent the Federal Reserve from raising interest rates by a large amount, or perhaps not at all, at its meeting this week. The …

Gold prices rose on Tuesday as investors awaited the Federal Reserve’s meeting amid growing expectations that it will slow the pace of its monetary tightening in light of the banking sector’s turmoil. Spot gold rose 0.2 percent to $1,982.29 an ounce by 0546 GMT. US gold futures jumped 0.1 percent …

The currency market reacted to the uptick in market’s sentiment on Monday. The Fed’s meeting and banking industry developments will be the main influences on the upcoming sessions. On early Tuesday, the FOMC meeting gets started. The Fed is in a challenging situation. The market is pricing a 70% probability …

At the start of Tuesday’s Asian session, Western Texas Intermediate registers only slight losses. The current increase in WTI was a result of the weaker US Dollar and positive risk appetite.The outcome of monetary policy decisions by two significant central banks might drive down oil prices. The US benchmark crude …

Improved market sentiment on Monday reduces demand for the safe-haven assets, including gold. This is preventing the Gold Index (XAU/USD) from powering higher. However, market’s overall confusion could soon resurface if the Fed fails to convince investors this week that the worst is over in terms of financial instability.Gold price …

On Monday, oil prices fell to a 15-month low amid fears that turmoil in the global banking sector could lead to a recession that would dampen demand for oil, as well as fears of a possible hike in interest rates in the United States this week. Brent crude futures for …

Gold prices regained some gains on Monday, erasing part of earlier losses, as concerns about the global banking sector returned to the fore, despite UBS’ rescue efforts to acquire rival Credit Suisse to stabilize financial markets more broadly. . Spot gold rose 0.1% to $1,988.89 an ounce by 0624 GMT, …

Wall Street finished lower on Friday, capping off a turbulent week marked by an evolving banking crisis and the gathering storm clouds of a possible recession. All three indexes finished the session in the red, with financial stocks falling the most of the S&P 500’s major sectors. All three indexes …

WTI crude oil modestly bounced after posting a fresh 2023 low of $65.22 a barrel. West Texas Intermediate fell to $65.22 per barrel on Friday, its lowest since November 2022. It currently trades at around $67.30 a barrel, breaking lower amid financial turmoil weighing on the market mood. At the …

Gold is trading at $1959.26 at the time of writing. Earlier on the day, gold price surged further on Friday reaching the highest level in eleven months, rising above $1,960 per ounce. The Gold Index XAU/USD is rising by more than $40, adding to weekly gains.Risk aversion amid the banking …