Market Update

Gold prices rose Monday, September 21st, buoyed by the dollar’s weakness as investors looked for words from US Fed policymakers this week to learn more about the central bank’s approach to inflation. Spot of gold rose 0.2% to 1952.59 dollars an ounce by 05:30 GMT. And gold in US futures …

The People’s Bank of China kept its key lending rate steady at 3.85% for the fifth month in a row, as this measure was in line with expectations. The People’s Bank of China kept the lending rate for five years at 4.65%. Most of the new and maturing loans depend …

The People’s Bank of China (PBOC) has set the yuan reference rate at 6.7595 versus Friday’s fix at 6.7591.

There were a lot of market drivers last week like the Fed and Bank of England meeting and tensions over the Brexit talks and developments for the Corona vaccine as well as the continuing trade tension between the US and China and the TikTok crisis. There was a lot of …

The New York Stock Exchange (NYSE) extended its weekly losses on Friday, amid increasing selling pressures, especially on tech stocks. The Dow Jones Industrial Average DJIA dropped by 244.56 points, or 0.9%, to finish at 27,657.42 points, registering a marginal weekly loss of less than 0.1%. S&P 500 lost 37.54 …

Treasury yields in the United States rose on Friday, after declining yesterday following the release of the Federal Reserve policy statement on Wednesday, which indicated maintaining low interest rates close to 0% until 2023. Return on the 10-year Treasury bonds rose by 1.2 basis points to 0.694%, rising by 2.6 …

Oil prices showed a mixed performance on Friday amid concerns over demand outlook and output disruptions, especially in North America. Crude prices also received support from recent remarks reiterating the commitment of OPEC+ to restoring market balance. Brent crude futures for November delivery decreased by 15 cents, or 0.4%, to …

Gold prices maintained a rising streak for the second consecutive week after rising on Friday. Gold futures for December delivery gained $12.20, or 0.6%, and finished at $1,962.10 per ounce, adding 0.7% for the week. Meanwhile, silver futures increased by 3 cents, or 0.1%, and closed at $27.129 per ounce, …

European stocks closed lower on Friday, as the Stoxx Europe 600 index declined by 0.52% and finished at 369.31 points, rising by 0.24% for the week. The UK’s FTSE100 decreased by 0.71%, following the Bank of England’s (BoE) decision to maintain its main rate steady at 0.1%. Meanwhile, the German …

Oil and natural gas rigs in the United States increased this week, according to data by Baker Hughes. Active oil and gas rigs increased by one to 255, but remained 71% below the level of rigs for the same time last year at 613 rigs. Oil rigs fell by one …