Commodities

The US dollar aimed to recover ground but pared its advance during US trading hours, ahead of the FOMC Meeting Minutes. The document showed that all members supported plans to reduce the balance sheet, while some added that, after the runoff was well underway, it would be appropriate to consider …

Americans are asking “Are we in a recession?” or “When are we going into recession?” Opponents of the current administration suggest that should US President Joe Biden continue to pursue his climate, fossil-free agenda, American economy could fall into a permanent recession. It could partly be replaced by nuclear power, …

Crude oil price slightly rose on Wednesday, buoyed by tight supplies and as US refiners drove refining activity to their highest level since before the coronavirus pandemic started. Brent crude futures for July rose by 9 cents to $113.65 a barrel. US West Texas Intermediate (WTI) crude for July delivery …

Gold price retreats from weekly highs around $1870 as investors prepare for the Fed’s May minutes. The US dollar remains buoyant, despite falling US bond yields and weighs on XAU/USD’s price.Gold slides below the 20-day moving average (DMA) and accelerates towards the 200-DMA at $1839.66 on Wednesday, courtesy of a …

Gold prices fell on Wednesday with the rise of the dollar, while investors awaited the statement of the monetary policy meeting of the Federal Reserve for the month of May, in search of indications on the expected amount of the next US interest rate hike. And by 0636 GMT, gold …

The US dollar remained weak on Tuesday. The EUR/USD pair rallied beyond 1.0700 as more ECB officials vowed for a 50 bps rate hike. The GBP/USD pair, however, fell following softer-than-anticipated local data to end the day in the 1.2520 price zone.Economic Data S&P Global released the preliminary estimates of …

Gold price is holding above $1,860.00 ahead of FOMC minutes. The positive market sentiment has diminished the appeal of safe-haven assets. The US monthly Durable Goods Orders are seen lower at 0.6%.Facts that hold significant importance in the FOMC minutes are the number of voters advocating the 50 basis points …

Beijing is continuing quarantine to end its month-old COVID outbreak, while in Shanghai’s authorities plan to keep most restrictions in place this month, before a more complete lifting of the two-month-old lockdown from June 1.The Chinese capital reported 47 new Covid cases om Tuesday, compared with 48 on Monday. Cases …

Gold rose in Tuesday morning trading in Asia. The dollar also rose and stabilized after falling during the previous session, which pushed the yellow metal to the highest point in two weeks. Gold futures rose 0.17% to $1,850.94 by 11:10 PM ET, after hitting their highest since May 9 at …

Oil prices fell by nearly a dollar on Tuesday, on fears of a possible recession and restrictions to combat COVID-19 in China, which outweighed the impact of tight global supply and expectations of increased demand for fuel as the summer travel season begins in the United States. Investment banks including …