Commodities

The White House memo (noting that US macroeconomic data, including the June jobs report, are not consistent with a recession) was a good attempt to improve market sentiment. The document added that “labour market strength puts the US in a better position than many other countries to transition to lower …

Oil prices are expected to slip towards $90.00 due accelerating global recession-linked fears. Lockdown in China and interest rate hikes by Western central banks have also trimmed oil price forecasts.WTI futures have displayed a steep downside after surrendering the psychological support of 100.00 last week. Crude oil recorded three-month low …

Precious metals have generally maintained the same defensive stance, with gold reaching two-month lows and silver at two-year lows.Risk aversion dominates Tuesday’s trading session as investors await clues that will be provided by June’s US CPI report, due on Wednesday. Gold price is slanted to the downside and might test …

The Organization of the Petroleum Exporting Countries (OPEC) expects global demand for oil to increase next year, but at a slightly slower pace than this year, as consumption will receive support from the improved control of the Covid-19 pandemic and the continued recovery of global economic growth. In its monthly …

Oil prices fell on Tuesday, after the imposition of new restrictions to contain Covid-19 in China and fears of a global economic slowdown affected the outlook for fuel demand. The price of benchmark Brent crude in September contracts fell by $1.81, or 1.7 percent, to $105.29 a barrel, and West …

Gold settled on Tuesday, with lower yields on US Treasuries, which boosted demand and offset the impact of a stronger dollar that pushed gold to a nine-month low earlier. And gold settled in spot transactions at $ 1733.59 an ounce by 0740 GMT, after hitting its lowest level since September …

Gold price is struggling to find a way out by surrendering the critical support of $1,730.00 as the US Dollar Index, on Monday, prints a fresh 19-year high at 108.27 on expectations for higher US Inflation.Gold is also displaying subdued performance and the volatility prior to the release of the …

Gold fell on Monday as the dollar settled near a 20-year high, continuing to pressure demand for dollar-denominated gold. The price of gold fell 0.1 percent to $ 1740.16 an ounce by 0045 GMT. US gold futures fell 0.2 percent to $1,739.50. The dollar has stabilized near its highest level …

Oil prices fell nearly $1 on Monday in choppy trading after worries about a recession and China’s restrictions to combat COVID-19 outweighed persistent concerns about a supply shortage. Brent crude futures were down 82 cents, or 0.8 percent, at $106.20 a barrel. US West Texas Intermediate crude futures fell $1.04, …

Gold is correcting from a significant sell-off in the week ahead of NFP. The bulls eye a 50% mean reversion but it all comes down to key data on Friday. Despite gold kicking off the second half of the year with a drop below $1,800 per ounce, Bloomberg Intelligence sees …