Market Update

Gold rose in volatile trading Friday, July 9, heading for gains for the third consecutive week, as the safe-haven allure of the yellow metal was boosted by concerns about the fast-spreading delta smoothing from Covid-19 and a drop in US Treasury yields. Spot market rose 0.1% to $ 1803.92 an …

The British economy slowed down in May 2021 to 0.8%, compared to expectations of 1.5%. May marks the fourth consecutive month of growth in British GDP, but leaves the economy far from pre-pandemic levels by about 3.1%. Growth was slower than in April, which was revised down from 2.3% to …

European shares rose on Friday, July 9, as investors bought, after one of the worst sell-offs in the market since the beginning of the year, amid concern over the stalled global economic recovery. The pan-European STOXX 600 index rose 0.8%, as sectors hit by the drop this week saw gains, …

Oil prices varied on Friday, July 9, and are still on track to incur a weekly loss, between optimism due to the decline in US inventories, and uncertainty about global supplies due to the impasse currently afflicting OPEC +. Brent crude futures fell only three cents to $74.09 a barrel, …

Japanese stocks plunged to an almost 8-week low on Friday, July 9, on fears of a slowing economic recovery after the country declared a state of emergency to curb the outbreak of the Coronavirus, but losses were curbed by hopes that the Bank of Japan might intervene to support the …

The New York Stock Exchange (NYSE) closed lower on Thursday, with the main indices on Wall Street seeing their worst daily losses since June 18. Rising demand for Treasury bonds and safe haven amid concerns about the rising number of Coronavirus (COVID-19) cases infected mainly with the variants are negatively …

The U.S. Dollar (USD) declined on Thursday, amid rising concerns about the economic rebound and recovery from the coronavirus pandemic. Worries about the rising number of cases in many countries with the spread of new variants of the COVID-19 led to increased selling pressure on the greenback. The Dollar Index …

The Latin American economy is expected to grow by 5.2% in 2021, despite concerns about recovery amid an increase in cases in many parts of the world with the new variants, according to the United Nations (U.N.) Economic Commission for Latin America and the Caribbean (ECLAC). The new forecasts mark …

Oil prices rebounded on Thursday, recovering some of its recent huge losses, after data showed a drop in the U.S. crude oil inventories, despite uncertainty about the future of the OPEC+ output cuts. In addition, markets are seeing rising concerns about the pace of economic recovery and resurgence of the …

Gold prices declined on Thursday, snapping a five-session rising streak, amid increasing selling pressures with investors adjusting their positions amid losses by the U.S. Dollar (USD) and stocks markets. Given the recent rises, selling pressures might have also resulted from profit-making. Gold futures for August delivery lost $1.90, or 0.1%, …