WTI crude oil prices rose to around $70.80 per barrel on Friday, driven by renewed optimism about energy demand stemming from the latest US labor market report. While January’s Nonfarm Payrolls (NFP) fell short of expectations at 143,000 new jobs, the continued resilience of the labor market and strong wage …
Read More »Gold Prices Rise, Near Record Highs as Safe-Haven Demand Strengthens
Gold prices rose in Asian trading on Friday, staying close to recent record highs as investors sought safe-haven assets amid global uncertainty ahead of key U.S. labor market data. Key Gold Price Movements Spot gold: $2,862.67 per ounce (+0.2%) Gold futures: $2,884.81 per ounce (+0.3%) Weekly gain: +2.4% Gold was …
Read More »Oil Prices Steady but Headed for Third Weekly Decline Amid Oversupply Fears and Trade Tensions
Oil prices remained largely unchanged in Asian trading on Friday but continued to be on track for their third consecutive weekly decline, driven by concerns over a supply glut and U.S.-China trade tensions. Brent Oil Futures: $74.27 per barrel (flat) U.S. Crude (WTI) Futures (March): $70.33 per barrel (flat) Weekly …
Read More »Gold Prices Retreat Amid Profit Taking, Stronger Greenback
Gold prices experienced a downturn, influenced by a confluence of factors including a strengthening US dollar, rising Treasury yields, and profit-taking by traders. This decline occurred despite underlying market jitters related to US equities and employment data. Gold’s upward momentum stalled on Thursday, as US Treasury yields rebounded and the …
Read More »Market Drivers; US Session
Market Caution Expected Ahead of US Jobs Report and Amid Trade UncertaintyThe US dollar recovered some ground, partially reversing its weekly decline, as markets await the crucial US employment report and remain uncertain about trade policies. The US Dollar Index (DXY) rebounded slightly, supported by a modest rise in US …
Read More »Decoding Looming NFP Report: A Deep Dive into the Numbers and Market Implications
The U.S. Bureau of Labour Statistics (BLS) is poised to release its January Nonfarm Payrolls (NFP) report, a critical economic indicator that provides insights into the health of the U.S. labour market. The consensus forecast anticipates an increase of around 170,000 jobs, following a 256,000 increase in December. This report …
Read More »Oil Prices Recover Slightly After Saudi Price Hike
Oil prices edged up on Thursday, partially recovering from the previous day’s drop, after Saudi Arabia’s state-owned oil company raised its March crude prices sharply. However, the gains barely made a dent in the significant decline of Brent crude the day before. Oil Price Movements Brent Crude Futures: $74.89 (+0.4%) …
Read More »Gold Prices Hold Steady Amid U.S.-China Trade Tensions
Gold prices maintained a steady upward trajectory in Asian trade on Thursday, staying close to their record highs as fears surrounding the U.S.-China trade war continue to fuel demand for safe-haven assets. Gold Market Update Spot Gold: $2,869.17 (+0.1%) Gold Futures (April): $2,887.90 (-0.2%) Record High: $2,882.53 (hit on Wednesday) …
Read More »Gold Prices Peak, Face Fresh Challenges
Gold’s relentless climb has propelled it to unprecedented heights, reaching a record peak. However, this impressive rally has also triggered overbought conditions, raising the specter of a potential pullback. While the long-term bullish trend remains intact, traders are now closely monitoring key support levels for signs of a potential correction. …
Read More »Oil Prices Dip Amid Rising U.S. Stockpiles and Trade War Concerns
Oil prices fell on Wednesday as concerns over rising U.S. crude stockpiles and a potential escalation in the U.S.-China trade war weighed on market sentiment, despite renewed efforts by U.S. President Trump to curb Iranian crude exports. Market Movement Brent crude futures dropped 66 cents (-0.87%) to $75.54 per barrel …
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