Commodities

Oil continues its path towards weekly gains on Thursday, as the OPEC+ announcement of additional production cuts targeted and falling US oil inventories overshadowed concerns about global economic growth. The two crude prices rose more than six percent this week, heading towards recording gains for the third week in a …

Gold prices retreated from their highest levels in a year on Thursday as the dollar regained some ground while investors await the US Nonfarm Payrolls report to assess the Federal Reserve’s monetary policy strategy. Spot gold fell 0.3 percent to $2,014.26 an ounce by 0543 GMT, after reaching its highest …

The price of gold is fluctuating on Wednesday along with the US Dollar, but it is holding steady around the $2,020s at midday after moving from a low of $2010.09 to a high of $2032.11 so far. At the time of writing, the precious metal is selling for $2020.65 per …

Gold prices recorded their highest levels since March 2022 on Wednesday, as they continued to rise after weak US economic data reinforced bets on slowing the pace of raising US interest rates. Spot gold rose 0.1% to $2,021.97 an ounce by 0925 GMT, while US gold futures settled at $2,038.70. …

Market Drivers – US Session 04/04/2023 While gold has jumped, US treasury yields retreated, the US dollar was seen under pressure on Tuesday. The dollar is still under pressure ahead of more employment statistics, notably the NFP on Friday, as a result of weak US economic data. On Wednesday, the …

Gold price jumped above $2,020, reaching the highest level since March of last year. However, analysts and economists believe that the precious metal could correct lower if higher crude oil price sparks the existing inflation fears.Gold’s strength was by no means intuitive: after all, the significant rise in the oil …

Oil prices rose in Asian trading on Tuesday after the OPEC+ decision to cut further production shook markets on Monday, while investors’ attention turned to the demand outlook and the impact of higher prices on the global economy. Brent crude futures rose 41 cents, or 0.5 percent, to $85.34 a …

On Monday, OPEC+ surprised the markets by substantially raising crude oil prices, yet Wall Street continued to advance. The regular suspects will once again be the focus on Tuesday. The Reserve Bank of Australia (RBA) will hold its monetary policy meeting, while the Eurozone’s February Producer Price Index will provide …

According to US Treasury Secretary Janet Yellen, on Monday, “A surprise OPEC+ oil production cut is an ‘unconstructive act’ that will add uncertainty to the global growth outlook and to burdens on consumers at a time of high inflation,” “I think it’s a regrettable action that OPEC decided to take. …

The West Texas Intermediate remains above the gap in bullish territory. The OPEC+ cartel shocked the market by reducing output by 1.1 million barrels per day in order to stabilize prices.West Texas Intermediate WTI crude oil increased 6.3% on Monday and is currently trading at $80.44. The day’s high was …