Commodities

Gold has been trading below the $1,700 mark for three days. Gold is now trading at $1677.15. The Fed policymakers will meet next week, and an increase of 75 basis points is broadly anticipated. Strategists at Commerzbank have examined how the precious metal could react to such a move. “If …

Germany took control of a major Russian-owned oil refinery on Friday, risking retaliation from Moscow as Berlin struggles to hold up energy supplies and meet its European Union commitment to cut Russian energy imports by the end of 2022.The economy ministry said it was putting a unit of Russian oil …

Gold prices stabilized on Friday, near their lowest level in more than two years, and are on track to record their worst weekly performance in two months, after expectations of a large interest rate hike by the Federal Reserve (the US central bank) raised bond yields. Which extinguishes the luster …

Oil prices were largely stable on Friday, but are heading for a weekly decline amid fears of sharp interest rate increases, which is expected to curb global economic growth and fuel demand. Brent crude futures rose 25 cents, or 0.3 percent, to $91.09 a barrel by 0921 GMT, but fell …

Citing sources familiar with the matter, Reuters reported on Friday that Saudi Arabia and Russia see $100 a barrel as a fair price for oil that the global economy can absorb. “Our focus is straightforward – looking at supplies and demand balances over a period of no less than a …

Gold fell nearly $40 from daily highs and hit more than two-year lows under pressure from aggressive rate hike expectations as the US dollar and Treasury yields climbed. The precious metal closed at $1696.79 on Wednesday, and on Thursday was unable to break the $1,700 line, instead the price action …

Oil prices fell on Thursday on demand concerns even after two influential international groups are still defending predictions for strong demand this year and next.Brent crude the international standard, fell 3.7%, to $90.65 a barrel, while West Texas Intermediate the US benchmark, fell 3.9%, to $85.02 a barrel. Both rose …

Gold and silver prices were lower in early U.S. trading Thursday, with gold falling to a seven-week low hitting $1667 per ounce versus Wednesday’s closing price at $1696.79. The soaring US dollar index along with rising Treasury yields and some hotter US inflation data, have all combined to keep gold …

Oil prices fell on Thursday, as concerns about weak demand and a stronger dollar ahead of a possible big interest rate hike raised concerns about tight supplies. The International Energy Agency announced this week that oil demand growth will stall in the fourth quarter. The dollar also settled on Thursday …

Crude oil market is busy digesting latest signals on the level of growth demand. Volatility has brought about oil prices gain of 1% on Wednesday. The latest signals include US crude inventory data, inflation indicatiors and the impact of China’s COVID lockdowns. As of 3:33 p.m. EST on Wednesday, Brent …