The gold price continues to retreat despite some relief in the US dollar’s advance. The XAU/USD is down some 0.46% at $1,845 while the DXY is trading at 103.85 and up just 0.1%. The dollar maintained choppy performance on Tuesday, shifting between modest gains as traders do concentrate on Wednesday’s …
Read More »EU’s Mora Visiting Tehran For Coordinating Vienna Talks
Chief of European Union Foreign Policy, Enrique Mora is visiting Tehran in order to hold meetings on nuclear talks between the US, other Western powers, Russia and Iran. Mora said he is to work on closing the remaining gaps as negotiations continue. Talks, which are aimed at returning both the …
Read More »Gold rises as the dollar’s rise stops
Gold rose on Tuesday as the dollar stabilized, prompting some investors to buy the precious metal ahead of the release of US inflation data that may influence the Federal Reserve’s decision on interest rates. And gold rose in spot transactions 0.3 percent to $ 1859.05 an ounce (an ounce) by …
Read More »Oil prices decline due to economic concerns and the rise of the dollar
Oil prices fell in volatile trading on Tuesday as markets weighed the impact of European Union sanctions on Russian oil with demand concerns stemming from China’s COVID-19 lockdown measures, a strong dollar and recession fears. By 0924 GMT, Brent crude prices fell 88 cents, or 0.8 percent, to $105.06 a …
Read More »Market Drivers – US Session – Monday 9 May
Risk aversion dominated financial markets at the beginning of the trading week. Global stocks edged lower, while government bond yields soared during European trading hours, giving up some ground ahead of Wall Street’s close.The negative market sentiment came from the usual suspects. High inflation levels, increasing coronavirus cases, and tensions …
Read More »Hungary’s Orban Stalls EU Oil Embargo On Russia
EU Commission chief von der Leyen’s plan to travel to see Hungary’s Orban yielded no breakthrough. The president of the European Commission has wanted Hungary to agree to stop importing Russian oil, but eventually failed to reach agreement with Hungary on Monday to secure the country’s backing for an oil …
Read More »Gold bounces nearer $1,850 as investors await US inflation
The Gold Price Index has witnessed a minor bounce after slipping near the previous week’s low at $1,850.47. A minor receptive buying has been observed but value buying can drive the precious metal higher. The bright metal has displayed a sheer downside on Monday amid broader strength in the US …
Read More »Growth Concerns, Strong USD Drive Investors Away From Metals
A week that saw a continued deterioration in the global growth outlook driven by extended China lockdowns, a stronger dollar and increasingly aggressive rate hike signals from members of the US Fed. The week highlighted how traders positioned themselves ahead of last Wednesday’s FOMC meeting. During the week US ten-year …
Read More »Gold’s large selling program could be imminent
The price of gold has remained in the hands of the bears as the US dollar surged to print a new 20-year high at the start of the week. The negative market sentiment stems from the risks associated with China’s COVID crisis, the Ukraine crisis, supply chain risks and what …
Read More »Oil prices fall due to global economic concerns
Oil prices fell on Monday along with stock markets in Asia on fears that a global recession could slash oil demand, while investors looked ahead to European Union talks on a Russian oil embargo that is expected to tighten global supplies. By 0153 GMT, Brent crude prices fell 28 cents, …
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