Commodities

Gold prices are hovering around the top intraday, up 0.51% on the day near $1,809, as they brace for their biggest weekly jump in six ahead of Friday’s European session On the way to 1928. The yellow metal is cheering for a weak US dollar, buoyed by downbeat Treasury yields, …

Gold was among the best performers, advancing for a second consecutive day and currently trading around $1,795 a troy ounce. Crude oil prices were also up, with the barrel of WTI currently trading at $72.50. European indexes posted substantial gains, but Wall Street was unable to follow the lead, and …

“Omicron is here and going to start spreading more rapidly”, said US President Joe Biden while speaking from Roosevelt Room in the White House.US looking at a winter of severe illness and death for those not vaccinated against COVID-19. “It’s past time for people to get booster shots, which they …

The White House will unveil its “Trucking Action Plan” on Thursday to address supply chain challenges that have plagued the US economy for several months.The plan is the product of the administration’s Supply Chain Disruptions Task Force, a group chaired by Commerce Secretary Gina Raimondo, Transportation Secretary Pete Buttigieg and …

Though still affected by supply chain bottlenecks and constraints including labour shortages, the US industrial production grew just 0.5% in November, a marked slowdown from the upwardly revised 1.7% pick-up in October, mentioned analysts at Wells Fargo.Analysts have pointred out that slight improvements in supplier deliveries suggest things are at …

Gold prices rose during trading Thursday, after the decisions of the Federal Reserve, and amid the decline of the US dollar from its highest level in three weeks. The Federal Reserve decided to reduce its bond purchases by $30 billion per month, starting next January, instead of the previously announced …

Wednesday was the Fed’s big day. US stocks rose after Federal Reserve officials approved plans to speed up the withdrawal of the pandemic stimulus efforts, giving investors and traders more insight into the central bank’s response to hot inflation.All three major indexes turned higher after the afternoon release of a …

The Federal Reserve Bank Chair Jerome Powell said in his post-Fed meeting press conference that with inflation so far above the Fed’s 2.0% target, we can’t wait too long to get back to maximum employment. Key Remarks: “Inflation that we’ve got is not at all what we were looking for …

The annual inflation rate in Canada remains at 4.7% in November. Analysts point out that inflation pressure continues to broaden; that combined with a stronger labour market will prompt a rate hike from the Bank of Canada during the second quarter of next year. Canada’s headline inflation rate was unchanged …

New York Mercantile Exchange oil futures and the nearest delivered Brent contract on the Intercontinental Exchange extended losses into a third successive session Wednesday, with investors keeping risk appetite in check following the outlook for lower demand growth next year hit by the rapidly spreading omicron variant. Market attention has …