Commodities

Gold (XAU/USD) trades in a tight range in the $2,320s in quiet markets on Wednesday. A lack of risk sentiment and low holiday volume caps volatility in the safe-haven asset. The USD – to which Gold is negatively correlated – trades broadly unchanged and since US bond markets are closed …

Oil prices maintained a delicate equilibrium on Wednesday, caught between escalating geopolitical tensions in Europe and the Middle East and growing apprehension over a surprising build in U.S. crude inventories. The market remained cautiously optimistic, with Brent crude futures edging up by a marginal 2 cents to $85.35 a barrel, …

The International Energy Agency claims that efforts by the Organization of the Petroleum Exporting Countries and its partners, or OPEC+, to support prices by reducing production could be “upended” by an impending surplus in the world’s oil supply. The United States and other American nations are expected to lead the …

Gold (XAU/USD) price has fallen over a quarter of a percent on Tuesday as the market shifts towards riskier assets over safe-havens. A World Gold Council survey indicates that central bank demand is expected to remain strong in 2024, adding a backwind to the gold price. The decline comes as …

Even while US yields rose in reaction to an improvement in overall risk appetite trends and a modicum of relief from political unrest in Europe, the US dollar lost some of its recent gains. Amidst investor speculation of two Fed interest rate cuts in 2024, the USD Index (DXY) posted …

Investors and traders are paying attention to oil prices ahead of the summer driving and travel season amid a mix of optimistic expectations, well-founded fears and high demand for fuel.Optimism about OPEC+ trendsOil recently achieved its first weekly gains in a month, supported by reports and data that injected more …

Gold prices have continued to decline since the beginning of trading on the first day of the new week’s trading, following in the footsteps of commodities that took a downward trend since the opening bell.Spot gold contracts fell to $2,318 per ounce, compared to the previous daily close, which recorded …

Investors and traders kept a close eye on the US inflation figures as well as the FOMC meeting in June. Due to the Fed’s aggressive approach, selling transactions took hold of gold prices immediately following the announcement that US interest rates would remain steady. Prior to the announcement of the …

Oil prices experienced a slight decline in early Thursday trading, reacting to the U.S. Federal Reserve’s decision to postpone interest rate cuts and growing concerns over ample U.S. crude and fuel stocks. Brent crude futures dipped 0.5% to $82.23 per barrel, while U.S. West Texas Intermediate (WTI) crude futures fell …

Recent economic news and headlines have been dominated by data and concerns related to US inflation. The negative surprise of the US CPI in May caused the US dollar to rapidly revert its recent positive trend, although the hawkish stance taken by the Federal Reserve helped the USD Index (DXY) …