Home / Market Update / Commodities (page 564)

Commodities

A Sharp Decline in US Oil Inventories

Data from the American Petroleum Institute showed that American oil inventories witnessed a sharp decline last week, contrary to market expectations, as US oil inventories recorded a decrease of 6.8 million barrels over the week ending July 24 to 531 million barrels, while analysts’ expectations indicated that an increase of …

Read More »

Gold Finishes at New Record High

Gold prices settled higher on Tuesday after recovering from brief losses, achieving a new record high closing level for the third consecutive session. Concerns regarding the COVID-19 pandemic, as reflected by the decline in the US consumer confidence index, have spurred demand for safe havens. Gold futures for August delivery …

Read More »

Gold Settles at New Record Level

Gold prices rose on Monday to a new record high, with the US Dollar continuing to decline and demand for safe havens increasing amidst worries regarding the COVID-19 pandemic. Gold futures for August settled higher by $33.50 or 1.8% to settle at $1,931 per ounce, registering its second historic highest …

Read More »