Commodities

Gold prices settled higher on Monday, with the trading week beginning with an increased demand for safe havens as the number of COVID-19 cases continue to increase in the US and the world. Gold futures for August delivery increased by 0.4% and settled at $1,817.40 per ounce. Meanwhile, silver futures …

Silver prices rose to their level in roughly four years, after exceeding the $20 per ounce mark for the first time since September 2016. Rising demand on safe have, which has been driving recent increase in gold prices has also led to the appreciation of the white metal prices. Silver …

Prices of the precious yellow metal rose during trading on Monday with weak USD, due to concerns about the increase in Covid-19 cases and its impact on the global economy, which kept the metal above the psychological level of $ 1,800/oz. Gold is currently trading at $ 1811.70/oz, recording an …

Oil prices retreated on Monday on tensions over a recovery in fuel demand, after Covid-19 cases rose worldwide. Brent crude fell 25 cents, or 0.6%, to $ 42.89 a barrel, while US crude oil (WTI) fell 0.5%, or 22 cents, to $ 40.37 a barrel. More than 14.5M people were …

Oil prices declined on Friday, but settled nearly unchanged for the week, in the absence of major economic data and the continuing uncertainty regarding the recovery of both the demand for crude oil and the global economy at large. Earlier today, data by Baker Hughes showed that the number of …

Gold prices settled higher on Friday by around $10, recording small weekly gains but stretching its upward trend for the sixth consecutive week. Today’s rise in the yellow metal’s prices were supported by the decline of the US Dollar. The price for Gold futures for August delivery increased by $9.70, …

Oil prices retreated on Friday, as trading was cloudy over the global recovery in fuel demand and growing uncertainty, while cases of COVID 19 rise steadily in several countries with major producers prepared to ease production restrictions. Brent crude futures fell 11 cents, or 0.3%, to $ 43.26 a barrel …

Oil prices declined on Thursday due to negative economic data, which also pushed stock markets down. The OPEC+ move to raise output, by limiting the production cuts to 7.7 million barrels per day (bpd) from August 1, which was announced yesterday, is not expected to disrupt the market, as demand …

Russia is expecting a strong recovery in the global demand for oil, according to the Russian Minister of Energy, Alexander Novak, Reuters reported. The minister said on Thursday that a significant rise in August could see demand improve to 10% below the pre-COVID-19 levels. Demand was nearing 100 million barrels …

Gold prices declined on Thursday to their lowest closing level in about a week, as the US Dollar (USD) strengthened despite the number of US jobless claims for last week exceeding market expectations. However, the yellow metal was able to maintain the $1,800 level. Gold futures for August dropped by …