Commodities

Gold overnight hit a YTD high at $2002.67, but afterwards, retreated to January’s 2021 resistance level-turned-support around $1959.40. Just now, the XAU/USD Index is trading at $1996.21, reflecting the risk-aversion of the financial markets.The conflict between Russia-Ukraine has not eased amid the third round of ceasefire talks. Sanctions on Russia …

Commodity prices spiked on Monday as industrial buyers and traders scrambled to source raw materials hit by supply disruptions caused by Russia’s invasion of Ukraine. Nickel rocketed 76%, palladium reached a record level and gold broke through $2,000 an ounce on safe-haven appeal, while oil and wheat jumped to 14-year …

Forecaster says $120 oil triggers its pessimistic scenario. Weaker growth would blow Treasury’s budget off track. Great Britain is heading for a recession in the second half of 2022 if energy prices remain at current levels, according to the National Institute of Economic and Social Research.The research group said UK …

The USD/CAD turned to the upside during the American session and printed a fresh daily high at 1.2772. Earlier it bottomed at 1.2683. The pair rose almost a hundred pips as the US dollar gained momentum amid a reversal in commodity prices.Risk aversion continues to dominate the mood across financial …

The Biden administration is willing to move ahead to execute a ban on Russian oil imports to the US without the participation of European allies.Since Russia’s invasion of Ukraine, the UK and Japan’s potential participation with the US in a Russian oil import ban is still a “live discussion”. Earlier …

EU member states are divided over whether or not to implement a ban on Russia oil imports. Officials have added that Poland and other EU states are pushing for the ban and Germany is facing growing pressure. Oil had its biggest daily swing ever with Brent surging to near USD …

Gold Price retreats from a fresh multi-month high and filled the weekly opening gap. As the US braces for Russian oil import ban even without allies, UK Defense Chief hints at further violence in Kyiv. Gold price bounced from an intraday low of $1,960.95, quickly recovering roughly $15 per troy …

Oil prices jumped on Monday to their highest levels since 2008 due to supply concerns due to the announcement by the United States that it is studying with its European allies a ban on the import of Russian oil and the possible delay in the return of Iranian crude to …

Russia’s largest lender Sberbank is quitting almost all European markets, blaming significant cash outflows and threats to its staff and property following Russia’s invasion of Ukraine and Western sanctions. The bank said it could no longer supply liquidity to European subsidiaries following an order from Russia’s central bank, which is …

On Monday, gold prices crossed the $2,000 mark for the first time in a year and a half as investors sought that safe haven in the wake of the escalating Russia-Ukraine crisis while fears of a halt in palladium supplies pushed to an all-time high. And gold rose in spot …