September 10, 2021 9:11 am
Spot Gold rose for a second straight trading day on Friday, but was set to register its first loss in five weeks as the US Dollar was poised for its first weekly gain in three amid intensifying jitters over the Federal Reserve’s taper timeline. “The overall backdrop for gold is much more bearish… We’re increasingly […]
Read moreSeptember 9, 2021 8:12 am
Futures on US West Texas Intermediate Crude Oil eased on Thursday, following a 1.4% surge in the previous trading session, as a drop in oil production in the Gulf of Mexico following damage from Hurricane Ida still supported the market. Nearly 77% of US Gulf production, or some 1.4 million barrels per day, remained offline […]
Read moreSeptember 3, 2021 9:00 am
Spot Gold rose on Friday, as the US Dollar hovered just above a fresh one-month low ahead of the highly anticipated US Non-Farm Payrolls report due out later in the day. A weaker US Dollar makes dollar-priced Gold less expensive for international investors holding other currencies. “We’re seeing minor pre-positioning for people that may be […]
Read moreSeptember 2, 2021 8:54 am
Futures on US West Texas Intermediate Crude Oil retreated on Thursday after OPEC+ agreed to continue the gradual return of supply to the market amid surging COVID-19 cases globally and with many US oil refiners still offline. Yesterday the Organization of the Petroleum Exporting Countries and allies, OPEC+, agreed to continue phasing out record output […]
Read moreAugust 27, 2021 8:57 am
Spot Gold edged higher on Friday and looked set to register a third straight weekly gain, as worsening security situation in Afghanistan fueled safe haven demand for the precious metal. Yesterday Islamic State launched a suicide bomb attack on the crowded Kabul airport that led to the death of at least 13 US troops and […]
Read moreAugust 26, 2021 8:44 am
Futures on US West Texas Intermediate Crude Oil snapped a three-day streak of gains on Thursday amid renewed demand concerns stemming from the spread of the novel coronavirus and as oil output returned in Mexico. New outbreaks caused by the Delta variant of the coronavirus raised concerns over the strength of global economic recovery. “Although […]
Read moreAugust 19, 2021 8:45 am
Futures on US West Texas Intermediate Crude Oil dropped for a sixth consecutive trading day on Thursday, while marking their longest streak of losses since late-February 2020, as the relentless spread of the Delta variant of the novel coronavirus worldwide bolstered concerns over fuel demand. Additionally, an unexpected increase in US gasoline stocks last week […]
Read moreAugust 13, 2021 9:05 am
Spot Gold gained on Friday on concerns over the spreading Delta variant of the coronavirus, but still, the commodity was poised to register a second straight week of losses, as the US Dollar held firm in proximity to 4 1/2-month highs. “The ongoing COVID disruption means it is more likely that central banks globally will […]
Read moreAugust 12, 2021 8:50 am
Futures on US West Texas Intermediate Crude Oil traded mostly steady in Europe on Thursday following a two-day streak of gains, as the United States called upon major producers to ramp up output, which raised certain supply concerns. Yesterday Biden’s administration urged the Organization of the Petroleum Exporting Countries and its allies (OPEC+) to ramp […]
Read moreAugust 6, 2021 9:25 am
Spot Gold retreated for a second straight trading day on Friday, as the US Dollar held close to one-week highs ahead of the highly anticipated US Non-Farm Payrolls report. Meanwhile, more Federal Reserve officials indicated that the central bank could taper its asset-purchasing program sooner than expected. Fed Governor Christopher Waller said earlier this week […]
Read more