Commodities

On Friday, gold prices were heading for their biggest weekly gain in nearly two months, as dollar weakness and hopes that the Federal Reserve would stop raising interest rates boosted the yellow metal’s appeal. And gold prices stabilized in spot transactions at 1979.24 dollars an ounce by 0457 GMT. US …

Oil prices rose on Friday amid a recovery in sentiment as a result of the passage of the US debt ceiling bill and at a time when markets assessed the possibility of OPEC + implementing a production cut to support prices in the next two days. Brent crude futures rose …

American crude oil fell early on Friday. After gaining the most in a month the day before, WTI crude oil loses upward momentum at $70.00 early on Friday in Asia. The price of oil both illustrates the normal pre-NFP market positioning and supports the price-depressing catalysts coming from the energy …

Gold is trading at $1976.69 at the time of writing and bulls are likely correct, but they still have more ambitious objectives. The NFP numbers from this Friday are now everything. Gold’s price rose on Thursday, rising for the day from a low of $1,953.44 to a high of $1,983.15 …

Oil price marginally recovered after the House of Representatives voted through the debt-ceiling extension bill on Wednesday evening. Gains were capped by higher-than-expected inventory levels. Oil prices have been volatile in recent weeks due to a number of factors. The House of Representatives voted through the debt-ceiling extension bill on …

Eurozone inflation fell more than expected this month, as underlying price growth stalled, fueling speculation about the need for more European Central Bank rate hikes beyond the one scheduled for later this month. In May, inflation in the eurozone’s 20 member countries fell to 6.1% from 7.0% in April, falling …

Market Drivers – US Session – 31/05/2023 The cautious sentiments across financial markets heavily weighed on Wall Street indexes that lost ground again on Wednesday. Equity prices finished off their lows. The rebound in stocks weighed on the US dollar, which was also affected by comments from Fed officials that …

Gold price stays above the $1960 mark, it is trading at $1962.09 at the time of writing, even preparing for over 1.3% monthly losses in May. Expectations of resolving the US debt ceiling issue spark a dip in US Treasury bond yields, offering a lift to the Gold Index. Dovish …

After consolidating above $69.00 earlier on Wednesday, oil price is trading a little below at $68.92 at the time of writing ahead of oil inventory data by the US API amid strong US consumer spending and soft labour market conditions that support chances of one more rate hike by the …

Oil prices fell on Wednesday due to a stronger US currency and disappointing data from China, the world’s largest oil importer, raising demand concerns. At 1013 GMT, Brent oil futures for August delivery were down $1.29, or 1.75%, to $72.42 a barrel. West Texas Intermediate crude (WTI) in the United …