Commodities

Oil futures turned bullish on Thursday’s US session, driven by the improvement in risk appetite and the emergence of expectations that OPEC + will keep its production policy unchanged, adopting the same levels of increased production. US oil futures rose to $74.24 a barrel, compared to the previous daily closing …

A lower US dollar and predictions of falling interest rates have helped to support the price of gold. The US Dollar index was down 0.4% at 102.20, making gold prices denominated in dollars more appealing. On Thursday, XAU/USD fluctuated between a low of $1,955 and a high of $1,984.36 before …

The US Bureau of Economic Analysis (BEA) released its final estimate on Thursday, revealing that the US real Gross Domestic Product (GDP) increased at an annualised rate of 2.6% in the fourth quarter. This number was below than the 2.7% market forecast as well as the prior estimate. “The revision …

Gold prices reversed course and rose on Thursday after a slight decline in the dollar helped dampen risk appetite fueled by waning concerns about the global banking system. By 0738 GMT, spot gold rose 0.3 percent to $1,968.89 an ounce. US gold futures settled at $1984.70. The dollar index fell …

Gold prices fell on Thursday as calming concerns about the global banking system increased risk appetite and curbed some attempts to buy the safe-haven metal. By 0346 GMT, spot gold fell 0.2 percent to $1,960.52 an ounce, down for a second session. US gold futures fell 0.4 percent to $1,977.00. …

At the time of writing, the price of gold is $1964.27 per ounce, up +0.77 cents and +0.04% from Tuesday’s closing price. For the first time since Russia’s invasion of Ukraine, the price of the precious metal has now surpassed $2,000 per ounce. Gold prices have reached $2,000 per ounce …

The price of silver has been trading sideways after hitting a daily high of $23.39. The XAG/USD price analysis suggests that in the short term, it might test $24.00 once it reclaims $23.50; otherwise, it would consolidate. The silver price has consolidated for the fourth straight day after hitting a …

Hungary’s foreign minister Peter Szijjarto held telephone talks with Russian Deputy Prime Minister Alexander Novak about gas and oil shipments as well as nuclear co-operation. In a statement, Szijjarto said Novak had reassured him that despite international sanctions, the Russian party would be able to do maintenance work on the …

For the past week, the US Energy Information Administration (EIA) reports a drop in inventory. Imports of US crude oil fall to their lowest level since March 2021. WTI is trading at $73.203 per barrel at the time of writing. If it breaks above $75.00, it will start moving up …

Gold prices fell on Wednesday as appetite for riskier assets increased following easing fears of a widening global banking crisis. Spot gold fell 0.6% to $1,961.80 an ounce by 0749 GMT, after rising 1% on Tuesday. US gold futures fell 0.5 percent to $1,963.10. However, he added that some investors …