Commodities

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 …

Gold prices fell on Monday, August 30, as risk appetite improved after US Federal Reserve Chairman Jerome Powell calmed market fears of a rapid withdrawal of stimulus applied to mitigate the impact of the Coronavirus pandemic, reducing the yellow metal’s safe-haven appeal. Spot gold fell 0.2% to $1,813.76 an ounce …

Gold prices rose on Friday to finish their best week since late May after remarks by the Federal Reserve Chairman Jerome Powell only assured what we know from the FOMC July meeting minutes that the central bank sees tapering before the end of the year. The yellow metal’s front-month contracts …

Gold prices rose above the psychologically important level of 1,800 dollars on Friday, supported by demand for safe havens and the decline of the dollar, before a speech by the President of the US Central Bank will be examined for indications of reducing stimulus. Spot gold rose 0.6% to $1,802.39 …

Oil settled lower on Thursday, August 26, halting a three-day streak of gains amid renewed demand concerns due to rising coronavirus cases and with Mexico restoring some production after a fire disrupted supplies. The losses were limited due to the possibility of further disruptions to the supply side. Energy companies …

Gold prices rose on Thursday, because of the higher demand for safe-haven assets with a slump in risk appetite, as investors anticipate the upcoming speech by the U.S. Federal Reserve Chair Jerome Powell in an economic forum on Friday. The front-month gold futures added $4, or 0.22%, to finish at …