Gold rose 1% Tuesday, November 10, after a sharp decline in the previous session, with the return of focus to the possibility of taking more monetary stimulus measures to revive a global economy still suffering from the repercussions of the Covid-19 pandemic. By 06:05 GMT, spot gold had jumped 1.1% …
Read More »Oil Achieves Best Gains in Five Months
Oil prices rose on Monday, supported by an improved outlook for demand recovery after it was reported that a vaccine against the Coronavirus is showing success, as announced by Pfizer earlier today. Brent crude futures for January delivery surged by $2.95, or 7.5%, to settle at $42.40 per barrel. This …
Read More »Gold Futures Plunge 5% on Vaccine News
Gold prices declined on Monday, opening the week with its biggest daily drop in more than seven years. Demand for safe havens decreased with news about positive trials for a new vaccine against the Coronavirus. Earlier today, Pfizer and BioNTech announced that a vaccine that they are developing is 90% …
Read More »Gold Rises as US Dollar falls on Stimulus Hopes Following Biden’s Victory
Gold prices rose Monday, November 9, to their highest level in nearly two months, driven by the weakening of the dollar and hopes for more stimulus measures due to the Corona virus, under President-elect Joe Biden. Spot gold increased 0.5% to $ 1960.99 an ounce by 05:18 GMT. Earlier in …
Read More »Brent Crude Exceeds $ 40, After Increased Risk Appetite With Biden’s Victory
Oil prices gained more than 2% on Monday, November 9, while Brent crude futures rose above $ 40 a barrel, after Joe Biden won the US presidency and boosted risk appetite, offsetting concerns about the impact of the worsening coronavirus pandemic on demand. Brent crude futures for January delivery rose …
Read More »Oil Loses Half of its Weekly Gains on Friday
Oil prices declined on Friday, with growing concerns about the new wave of the Coronavirus pandemic. New lockdown and preventive measures announced by some countries are raising concerns about the recovery of the global demand for energy. Brent crude futures for January delivery declined by $1.48, or 3.6%, to finish …
Read More »Gold Closes at Highest Level in Seven Weeks
Gold prices rose on Friday to their highest level in seven weeks, supported by the decline of the US Dollar (USD) amid the uncertainty surrounding the results of the United States presidential elections. Gold futures for December delivery gained $4.90, or 0.3%, to close at $1,951.70 per ounce. This is …
Read More »US Oil Rigs Rise for Fifth Week in Row
Oil and natural gas rigs in the United States increased for the eighth consecutive week, according to Friday’s weekly report by Baker Hughes. This is the first time that oil rigs increased at this rate since June 2018, amid output cuts and price fluctuations. Oil and gas rigs rose by …
Read More »Gold Falling With Dollar’s Rally, But Heading For Best Week in More Than 3 Months
Gold fell on Friday as the dollar rose, but the yellow metal is on track to record its best weekly performance since late July, thanks to hopes of more central bank support, as investors bet on a split in the US Congress under the presidency of Joe Biden. And gold …
Read More »Oil Declining as Covid-19 Cases Rise And Vote Count Continues in America
US oil fell more than 2% on Friday, as new lockdown measures in Europe to stem the rise in Covid-19 cases fueled concerns about the outlook for demand, while markets remain in a state of tension due to the long-running US election counting. West Texas Intermediate crude fell $ 1.06, …
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