Commodities

Gold prices stabilized as investors held off large bets in anticipation of a US non-farm payrolls reading seen as critical to the schedule for the Federal Reserve’s tapering of stimulus. There was little change in gold in spot trading at $1814.58 an ounce by 0646 GMT, while gold was trading …

Oil prices fell after the Organization of the Petroleum Exporting Countries (OPEC) agreed to keep its policy of gradual supply back to the market unchanged as coronavirus cases soar around the world and many US refiners, a major source of crude demand, are out of business. Brent crude fell 15 …

Oil prices showed a mixed performance on Wednesday after the OPEC+ alliance decided to maintain the gradual production increases, easing previous output cuts. The global benchmark, Brent crude, closed lower for the second day despite expectations for a rising demand this year, with fears over disruptions due to Hurricane Ida. …

Gold prices closed modestly lower on Wednesday for the second time in three sessions, despite a mostly negative performance by the U.S. Dollar (USD). An improvement in risk appetite and rising stocks limited the demand for the yellow metal as a safe haven investment after a slew of mixed economic …

Crude oil inventories in the United States decreased by 7.2 million barrels in the week ending August 27, according to official figures released on Wednesday by the U.S. Energy Information Administration (EIA). Commenting on the data, “business Survey Committee panelists reported that their companies and suppliers continue to struggle at unprecedented …

Four sources told Reuters that OPEC and its allies will likely stick to their current policy of gradually increasing oil production, despite an upwardly revised demand forecast in 2022 and in the face of US pressure to raise production at a faster pace. The Organization of the Petroleum Exporting Countries …

Oil prices declined on Tuesday, amid increases selling pressures, to end the month with the worst losses since last October. Brent futures for October delivery finished lower by 42 cents or 0.57% at $72.99 per barrel. For the month, Brent futures lost $3.34 per barrel or 4.38% in its worst …

Silver futures closed nearly unchanged on Tuesday, finishing their third consecutive month in losses and the biggest drop since June. Silver futures lost 6.14% in August, as it closed at $23.960 per ounce. Over the last three months, silver declined by about 14.41%, in the worst losing streak since November …

Gold rose on Tuesday to a four-week high hit in the previous session, supported by a weak dollar and falling US Treasury yields, as investors awaited the US non-farm payrolls data due later this week. Gold in the spot market rose 0.3% to $ 1815.11 an ounce by 0848 GMT, …

Oil prices closed higher on Monday, with markets anticipating the results of the upcoming OPEC+ meeting, which will likely result in maintaining the current gradual approach in easing output curbs. Crude prices increased after Hurricane Ida led to the shut down of most refineries in the Gulf Coast. Brent crude …