August 5, 2021 8:30 am
Futures on US West Texas Intermediate Crude Oil retreated for a fourth straight trading day on Thursday with more countries imposing restrictions on movement amid continuing increase in new COVID-19 cases and a firmer US Dollar. Japan was due to expand emergency restrictions to more prefectures on Thursday, while China imposed restrictions in some cities […]
Read moreJuly 30, 2021 8:45 am
Spot Gold rose for a fourth straight trading day on Friday and looked set to register a monthly gain, as the US Dollar hovered just above a one-month low, making the precious metal less expensive for holders of other currencies. A recent poll by Reuters showed that Gold prices were expected to rise a little […]
Read moreJuly 29, 2021 8:31 am
Futures on US West Texas Intermediate Crude Oil hit a fresh two-week high on Thursday, as US crude oil inventories dropped to levels not seen since January 2020. At the same time, Brent Oil once again regained ground above $75 per barrel. Brent prices moved past the $75 mark for the first time in over […]
Read moreJuly 23, 2021 8:04 am
Spot Gold traded little changed on Friday, but was heading for its first weekly loss out of five, as the US Dollar remained firm not far from recently achieved highs. “Gold being a go to alternative for paper currency and seeing the dollar bit higher is the catalyst that nudging gold back,” DailyFX currency strategist […]
Read moreJuly 22, 2021 8:29 am
After gaining more than 4% in the previous session, futures on US West Texas Intermediate Crude Oil edged lower on Thursday after US oil stocks unexpectedly rose, while surging new coronavirus cases pose a threat to demand. “Volatility in energy remains elevated as traders grapple with short-term demand weakness from Delta variant concerns and expectations […]
Read moreJuly 16, 2021 8:25 am
Spot Gold looked set for a fourth consecutive week of gains, supported by some dovish rhetoric from the Federal Reserve. In a hearing before the Senate Banking Committee yesterday, Fed Chair Jerome Powell faced sharp questions about inflation and once again reiterated that the central bank would continue to provide “powerful support” in order to […]
Read moreJuly 15, 2021 8:41 am
Futures on US West Texas Intermediate Crude Oil extended losses on Thursday, as the market braced for increased supply after a compromise between key OPEC producers. Additionally, fuel inventories in the United States, the largest oil consumer globally, increased, while raising demand concerns. Yesterday both WTI and Brent plunged more than 2% following a report […]
Read moreJuly 9, 2021 8:52 am
Spot Gold remained mostly steady during Friday’s European session and was set to register its third consecutive week of advance, as US Treasury yields fell while the spread of the more infectious Delta variant of the novel coronavirus caused certain concerns. US 10-year government bond yields were holding close to a more than four-month trough, […]
Read moreJuly 8, 2021 8:25 am
Futures on US West Texas Intermediate Crude Oil extended losses from the prior two trading days on Thursday, as this week’s talks between key oil producers collapsed. Negotiations between members of the Organization of the Petroleum Exporting Countries and allies, a group known as OPEC+, fell apart when Saudi Arabia refused demands from the United […]
Read moreJuly 2, 2021 8:23 am
Spot Gold remained stuck within a narrow range on Friday, as the US Dollar advanced to a fresh three-month high ahead of the key US Non-Farm Payrolls data that could influence the Fed’s monetary policy stance. A stronger dollar makes Gold more expensive for international investors holding other currencies. In other news, the Democratic-controlled US […]
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