Commodities

The price of gold returns back to flat on the day in what has been a correction of this week’s rally into daily resistance near $1,730. The price fell from a high of $1,725.60 to a low of $1,706.95 but held above the prior day’s lows despite firmer US yields …

Gold price has resumed its upside trend after a pullback to near $1,700.00. Escalating Japan-North Korea tensions are turning the risk to the negative side.After bumper US ADP data, positive NFP data could mean a next 75 bps rate hike in November. The gold index turned sideways after sensing demand …

Gold price was down by 0.7% by midday in New York, trading below the highs of the day of $1,727.84 and reaching as low as the psychological $1,700 level. The US dollar derived momentum from Wednesday’s strong in US yields which is putting a barrier up against gold’s recent resurgence.The …

US President Joe Biden is disappointed by the OPEC+ group’s ‘shortsighted decision’, the White House said on Wednesday, as reported by Reuters. Following its 33rd Ministerial Meeting, OPEC+ announced that they will adjust downward the overall production by 2 million barrels per day starting November from the August-2022 required production …

European Union member states have agreed to cap the price of Russian oil as they seek to cut Kremlin revenues and punish Vladimir Putin for the Ukraine war. Ambassadors from 27 countries on Wednesday signed off on the proposed cap on the price of crude shipped to countries outside the …

Oil has jumped by nearly $3 a barrel on Tuesday on expectations that Wednesday’s OPEC+ meeting could decide a large cut in crude output as the retreating US dollar made oil purchases cheaper.OPEC+ will consider output cut on Wednesday’s meeting. The move could put supply under pressure while the energy …

The White House has denied any ban or curbs on natural gas exports this winter to help alleviate energy woes in European allies. Earlier in 2022, US President Joe Biden committed to deliver 15 billion cubic metres (bcm) of liquefied natural gas to Europe following Russia’s invasion of Ukraine and …

Gold price rallied on Tuesday touching a fresh high for the week so far around $1,730 and traders are eying September’s high of $1,735. The precious metal rallied from a low of $1,695.24 on the day as the US yields made fresh lows of 3.564% in 10-year Treasury yield while …

German Finance Minister Christian Lindner defended his country’s 200 billion euro defense shield to fund energy relief. Lindner also rejected calls for joint European Union debt, in comments to broadcaster ZDF on Tuesday.“Joint debt does not help us in the long run to strengthen competitiveness or with the sustainable finances …

Oil prices rose on Tuesday amid expectations that the OPEC+ group may agree to a significant cut in crude production when it meets this week. Brent crude futures rose 79 cents, or 0.9 percent, to $89.65 a barrel by 1054 GMT, after gaining more than 4 percent in the previous …