Commodities

Gold rose in volatile trading on Wednesday, March 31st, but the yellow metal is still heading for the biggest quarterly decline since December 2016, with the rise in US Treasury yields and the dollar undermining the charm of safe-haven status in gold. An increase of 0.1% to $ 1686.65/ounce in …

Oil prices rose on the eve of an OPEC+ meeting, while investors believe that producers will largely agree to extend curbs on their supplies until May. OPEC+ raised concerns about the increase in the number of Coronavirus cases globally and that the general isolation measures will affect the recovery of …

A report from the OPEC+ Joint Technical Committee reviewed by Reuters revealed concerns that uncertainty may affect the recovery of oil demand amid increasing global coronavirus infections and lockdown measures. The committee added in the report that despite the ongoing elimination of OECD commercial stocks, still above the 2015-2019 average, …

Oil prices declined on Tuesday, after the reopening of the Suez Canal limited concerns about supply flows. In addition, the surge by the U.S. Dollar (USD) weighed on crude prices, ahead of the OPEC+ meetings, which will decide whether major producers will extend their output curbs during May or not. …

Gold futures declined on Tuesday for the second consecutive session, amid a strong rise by the U.S. Dollar (USD) and Treasury bond yields. The yellow metal most actives contracts closed at their lowest level in nearly three weeks, breaking the $1,700 support level. Gold futures for April delivery finished lower …

Gold prices fell on Tuesday, March 30th, to their lowest level in more than two weeks, as they were pressured by the strength of the dollar and US Treasury bond yields with growing expectations for a rapid economic improvement in light of the progress of vaccination campaigns. Gold, which is …

Oil prices retreated on Tuesday, March 30th, while navigation in the Suez Canal resumed days after being halted by the stranding of a giant ship, and the focus shifted to an OPEC+ meeting this week, where an extension of supply restrictions is expected to be discussed amid new closures to …

Oil prices rose on Monday, recovering from earlier losses, amid concerns about delays in oil shipments even after shipping restarted at the Suez Canal after the container ship that was blocking it was re-floated. In addition, it is expected that the upcoming meeting for the Organization of the Petroleum Exporting …

Gold prices closed lower on Monday, opening the week with a negative performance, due to the rise of the U.S. Dollar (USD). The yellow metal has limited its monthly gains, after recent fluctuations. Gold futures for April delivery finished lower by $24, or 1.4%, at $1708.2 per ounce, its lowest …

Oil fell by more than 2% on Monday, March 29th, after news from the Suez Canal that rescue crews managed to move the giant container ship that has been blocking the vital global trade corridor for nearly a week. Brent crude fell $1.38, equivalent to 2.1%, to $63.19 a barrel. …