Commodities

Gold market is ending the week down nearly $90 from its October highs on renewed concerns regarding the expectations of Fed’s very aggressive stance into end of 2022.The 10-year US Treasury yields traveled above 4% on Friday, while the US dollar index neared 20-year highs after this week’s macro data …

US Treasury Secretary Janet Yellen on Friday took steps back from earlier speculation that G7 nations are pondering a $60 per barrel price cap on Russian oil. Yellen also noted that leader have not taken any decision in this regard as well.Under the G7 plan, Russian crude oil that is …

Oil prices fell more than 3% on Friday as global recession fears and weak oil demand, especially in China, balanced support from a large cut of supply target by the OPEC+ alliance.Brent crude futures dropped to settle at $92.39 a barrel versus the opening level at $95.295, while US crude, …

Oil prices compensated for losses incurred earlier in the session and rose in Asian transactions on Friday, supported by the weakness of the dollar and the decline in US fuel stocks. At the same time, a row continues between Saudi Arabia and the United States over plans by the OPEC …

Gold prices rose on Friday, supported by the decline in the dollar and US Treasury yields, but increased expectations of another big hike in US interest rates kept the precious metal on course for a weekly decline. And the price of gold in spot transactions rose 0.3 percent to $ …

Gold bounced up from $1,642 lows and returned to the $1,665 area. Gold is trading at $1,666 at the time of writing. Gold futures are retracing previous losses during Thursday’s US trading session, favoured by a broad-based USD pullback. The precious metal has bottomed at a two-week low of $1,642 …

The West Texas Intermediate crude oil is under pressure during the US trading session following US hot inflation reading release that has caused risk aversion across financial markets.At the time of writing, WTI is down around 0.6% is recovering to the $88.28 high after managing to rise from earlier fresh …

The International Energy Agency said on Thursday that the decision of the OPEC + group of oil producers last week to curb production led to higher prices and could push the global economy into recession. It stated in its monthly oil report that with persistent inflationary pressures and higher interest …

Gold prices moved in a narrow range on Thursday as investors exercise caution ahead of inflation data in the United States that could affect the size of the next interest rate hike by the Federal Reserve. And gold fell in spot transactions 0.2 percent to $ 1668.84 an ounce by …

The WTI crude is under pressure leading up to the key event of the week; namely Thursday’s US Consumer Price Index. At the time of writing, WTI is trading at 87.18 having crawled between $86.30 low and $90.05 high. Oil retreated on Wednesday with overall negative performance, losing over 1.8% …