Commodities

OPEC+ has postponed two meetings scheduled for the current week in order to avail more time to evaluate the implications of the latest coronavirus update about the emergence of a highly mutated variant.The group had moved the meeting of its joint technical committee to Wednesday from Monday, and the meeting …

Gold eased on Monday, resuming a broad decline from the previous week, as the dollar has firmed and risk sentiment recovered with markets weighing how severe the economic impact would be from the Omicron coronavirus variant.Spot gold fell 0.4% to $1,784.41 per ounce by 11:17 a.m. ET (1617 GMT) after …

Oil prices have continued to press higher, with front-month WTI crude futures now up more than USD 4.0 on the day and back in the USD 72.00s, nearly 50% of Friday’s steep decline over news on Omicron variant concerns has now been unwound.To get above the 50% Fibonacci retracement of …

Oil prices rose on Monday, November 29, on speculation that OPEC + may halt the increase in oil production in light of the spread of the Omicron strain of the Coronavirus, but the atmosphere remains cautious in light of insufficient information about the new mutation. There is concern that the …

Gold prices rose on Monday after concerns about the impact of the potentially vaccine-resistant Omicron strain of coronavirus boosted gold’s safe-haven appeal. Spot gold rose 0.1 percent to $1,793.72 an ounce. US gold futures rose 0.4 percent to settle at $1,793.2. Actual demand for gold in major Asian hubs increased …

The US session did not witness the release of any remarkable economic data, rather it has been dominated by concerns of probable lockdowns in Europe, the emerging new virus strain.On Friday, oil prices recorded their largest one-day drop since April 2020 by falling about $10 a barrel, as a new …

On Friday, oil prices recorded their largest one-day drop since April 2020 by falling about $10 a barrel, as a new COVID-19 variant spooked investors and added to concerns that a supply surplus could swell through 2022’s first quarter.Oil fell with global equities markets on fears the new variant could …

WTI crude oil has been under severe selling pressure in recent trade. Oil has settled under $70.00, marking a more than 11% decline on the day, its worst session since last year when future contracts swung deeply into negative territory in April 2020.The oil market’s implosion comes on a day …

European Central Bank Vice President Luis de Guindos said on Friday that the new Covid-19 variant is worrying.“We have to be patient even if markets are volatile, my personal opinion that policy will remain accommodative”, de Guindos added.On the PEPP, he said, it will end in its expected size at …

Gold rose Friday morning in Asia, poised for its worst week in five months on growing bets. The US Federal Reserve will begin to taper and raise interest rates faster than expected to stem rising inflation. Gold futures rose 0.76% to $1,797.80. The yellow metal fell more than 2.8% during …