Commodities

Oil futures reversed course after briefly rising on Monday amid continued pressure from the OPEC+ decision and uncertainty over global fuel demand growth, but risks of supply disruptions due to conflict in the Middle East limited losses. By 0406 GMT, Brent crude futures fell 49 cents, equivalent to 0.4 percent, …

Gold prices surged to a six-month high in current trading, driven by the decline of the US dollar and the belief that the Fed is ending its interest rate hike cycle, contributing to the positive momentum in the precious metal.Gold’s PerformanceGold prices surged to a new multi-month high of $2060.62 …

Reacting to Fed Chair Jerome Powell’s speech, the price of gold immediately surged to a new multi-month high of $2060.62. The precious metal even extended its gains later on the day and is trading at 2071.15 per ounce at the time of writing, gaining $35.05, and thereby up by 1.72%. …

Oil prices fell in early Asian trading on Friday, continuing the losses that began after producers in the OPEC+ alliance agreed to voluntary reductions in oil production in the first quarter of next year, which were reductions that fell below market expectations. Brent crude futures for February fell 14 cents, …

Gold prices are heading for a third straight week of gains on Friday after data showing a slowdown in inflation reinforced bets on a cut in interest rates in the United States, while traders await comments from Federal Reserve Chairman Jerome Powell later on Friday. Gold rose in spot transactions …

The XAU/USD is trading around $2035 with a 0.40% loss, following the release of the US’s October Personal Consumption Expenditures (PCE) figures. The figures aligned with expectations, reinforcing the Federal Reserve’s stance on inflation. The headline figure dropped to 3% YoY, while the core measure increased to 3.5% YoY. The …

The OPEC+ coalition, led by Saudi Arabia and Russia, has announced plans for a 1 million barrel cut to daily production, along with an extension of an earlier cut of equal size.Oil prices fell after rising by over 1% earlier in the session after OPEC+ oil producers agreed to voluntary …

There was little change in oil prices on Thursday, as investors continued to remain cautious ahead of expected production cuts from the OPEC+ alliance, while Chinese factory data showed slowing growth in the world’s second-largest economy. By 0740 GMT, Brent crude futures increased 13 cents, or 0.2 percent, to $83.23 …

Gold prices steadied on Thursday and moved in a narrow range, hovering near the highest level in nearly seven months, with investors awaiting a key reading on inflation to determine whether US interest rate cuts will come sooner than expected. By 0543 GMT, gold in spot transactions fell 0.1 percent …

Although it recovered somewhat from monthly lows, the US Dollar Index (DXY) was still under pressure. In the third quarter, the US economy grew at an annualized rate of 5.2%, which was higher than the previous estimate of 4.9%. The US will release important data on Thursday, such as the …