Gold prices fell on Friday, May 28th, as the dollar and US Treasury yields rose, while investors awaited the release of personal consumption data in the United States later in the day for indications of inflationary pressures. Gold fell in spot transactions 0.2% to $ 1891.45 an ounce. The metal …
Read More »EIA Expects Higher Demand and Fuel Price Hike
The United States Energy Information Administration (EIA) has projected that energy prices will continue to rise on increased demand, according to its latest outlook report. The EIA now expects the global demand for fuel will reach 97.7 million barrels per day, rising by 5.4 million barrels per day compared to …
Read More »Oil Maintains Gains for Fifth Session to Reach Highest Level Since 2018
Oil prices rose on Thursday for the fifth consecutive session, with economic data boosting hopes for recovery. Specifically, the U.S. GDP data, which showed a growth rate of 6.4%, provided support to crude oil prices, as well as the drop in jobless claims. Brent crude futures for July delivery rose …
Read More »Gold Sees First Loss in Four Sessions
Gold prices declined on Thursday after three consecutive rises, losing the $1,900 level, as the U.S. Dollar (USD) strengthened with the Treasury yields rising. The yellow metal futures for June delivery lost $5.5, or 0.3%, to close at $1,895.70 per ounce. Gold futures for August delivery also dropped $5.30, or …
Read More »Gold Settles Below $ 1900 as Investors Await US Data
Gold prices stabilized Thursday, May 27, below the psychologically important level of $1900 an ounce, after the dollar’s rise limited gains as investors awaited US economic data that might provide clues about inflation and monetary policy. Spot gold fell 0.1% to $ 1895.10 an ounce, after hitting its highest level …
Read More »Oil Prices Declining Due to Fears of a Possible Return of Iranian Supplies
Oil prices fell on Thursday, May 27, but remained within their narrow range this week, as optimism about the summer driving season in the United States and Europe was met with concern about India’s demand and a possible increase in Iranian supplies. Brent crude was down 57 cents, equivalent to …
Read More »Oil Finishes Higher as U.S. Inventories Decline
Oil prices rose on Wednesday, as markets continue to expect demand recovery during the second half of the year. In addition, a decline in crude oil inventories in the United States also provided support for oil futures. Brent crude futures for July delivery gained 22 cents, or 0.3%, to settle …
Read More »Gold Settles Higher and Exceeds $1,900 Resistance Level
Gold prices rose on Wednesday, reaching a new level that is the highest in about five months, as markets continue to weigh reflation fears. The yellow metal’s gains came despite a rebound by the U.S. Dollar (USD), which probably limited today’s rise. Gold futures for June delivery rose by $3.20, …
Read More »Oil Stabilizes as Optimism About Demand Prevails Over Iran’s Supply Concerns
Oil stabilized today and traded within a narrow range amid optimism about an improvement in fuel demand in the United States, but the possibility of Iranian oil returning to the markets pressures prices. Brent crude rose 14 cents, equivalent to 0.2%, to $ 68.79 a barrel, and US West Texas …
Read More »Gold Breaks Through The $ 1900 Barrier
Today, gold prices surpassed the psychologically important level of $ 1900 an ounce, supported by the dollar’s decline and growing concerns about inflation after US Federal Reserve officials maintained a more accommodative stance on interest rates. In Asian trading, gold in spot transactions increased 0.3% to 1,905.36 dollars an ounce, …
Read More »