Commodities

Gold prices climbed in Asian trade on Tuesday, recovering from overnight losses as investors eagerly awaited Federal Reserve Chair Jerome Powell’s upcoming testimony before Congress, hoping for indications of a potential interest rate cut. Gold’s Recent Gains and Rate Cut Expectations: The precious metal saw a notable increase last week, …

The new trading week began with some respectable gains for the dollar, which shed some of its NFP-related weakness and gained some new momentum in reaction to the risk complex’s widespread knee-jerk. While this was going on, investors were processing the results of the French snap elections and progressively turned …

The French legislative elections drew mixed reactions from European fundamentalists, despite the fact that the results suggested the far right would not win power and therefore lower the risks associated with the political trend’s renowned economic ideas.By the end of the new trading week’s first day, the euro was up …

Inflation has been a significant factor for the price of gold, with the Federal Reserve raising interest rates to combat it and keeping rates higher for longer for the same purpose. Gold prices have been strong, reaching a record high of over $2,400 in May, and have since fallen slightly …

Treasury officials in President Biden’s Treasury Department have proposed new actions to cripple a fleet of aging oil tankers that are helping deliver Russian oil to buyers around the world in defiance of Western sanctions. The effort is aimed at punishing Russia but has stalled amid White House concerns over …

China’s car sales continued to decline in June, marking the third straight month of falling figures. This trend persists despite government incentives aimed at boosting consumer demand amid a sluggish economic recovery. Key Points: June Sales Decline: Passenger vehicle sales in June totaled 1.78 million, a 6.9% decrease compared to …

Oil prices edged lower on Monday, following a four-week upward trend, due to the prospect of a ceasefire in Gaza easing geopolitical tensions. Investors are also monitoring Tropical Storm Beryl, which threatens to disrupt U.S. energy supplies. Brent crude futures dipped 0.4% to $86.18 a barrel, while U.S. West Texas …

Gold prices experienced a minor retreat in Asian trading on Monday, as investors paused to assess the upcoming testimony by Federal Reserve Chair Jerome Powell and key inflation data due later in the week. Despite the slight dip, gold remains close to one-month highs, fueled by growing expectations of an …

The financial markets witnessed many developments during the trading week ending on Friday, July 5, 2024, in terms of major currencies, American and international stocks, commodities, and other most prominent traded assets, and in this weekly report we attempt to monitor the most important developments.Markets were mixed this week, with …

Spot gold is up 1.16%, trading at $238460, and gold futures are up 1.20%, trading at $2394.45 at the time of writing. Gold has continued its positive run as investors become increasingly optimistic about the Fed’s intention to lower interest rates sooner than previously thought. The US Nonfarm Payrolls report …