May 14, 2021 9:05 am
Spot Gold extended a rebound from this week’s low on Friday due to a softer US Dollar, but gains were limited by key macroeconomic data that bolstered the case of a sooner-than-anticipated increase in interest rates. This week’s macro data showed a sharper-than-expected surge in US consumer prices in April and initial jobless claims hitting […]
Read moreMay 13, 2021 9:07 am
After a two-day rally, futures on US West Texas Intermediate Crude Oil plunged over 2% on Thursday, despite forecasts of a rebound in oil demand globally, as the COVID-19 crisis in India worsened. The International Energy Agency (IEA) said yesterday that oil demand was already exceeding supply, while that shortfall will probably increase even if […]
Read moreMay 7, 2021 9:00 am
Spot Gold extended gains to an 11 1/2-week high on Friday and was also set to register its best weekly performance in six months, as the US Dollar was hovering near a one-week low and 10-year US government bond yields were near a two-week low ahead of the key US Non-Farm Payrolls data due out […]
Read moreMay 6, 2021 9:05 am
Futures on US West Texas Intermediate Crude Oil rose on Thursday following a slight retreat the prior day, as US crude oil stocks decreased at a sharper rate than anticipated last week due to a surge in refining output and exports. An official report by the US Energy Information Administration showed on Wednesday that crude […]
Read moreApril 30, 2021 9:10 am
Spot Gold was a notch weaker on Friday and looked set to register its first weekly loss in the past four weeks, as robust US macro data drove bond yields higher, increasing the opportunity cost of holding Gold which generates no interest. Still, the commodity was on track to post its first monthly gain this […]
Read moreApril 29, 2021 8:27 am
Futures on US West Texas Intermediate Crude Oil rose for a third straight trading day on Thursday, as upbeat oil demand forecasts overshadowed concerns stemming from COVID-19 resurgence in some parts of the world, including India and Brazil. The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, revised up their oil demand […]
Read moreApril 23, 2021 9:10 am
Spot Gold traded within a narrow range on Friday, not far from yesterday’s two-month high, and was on track to register a third consecutive week of gains, as 10-year US bond yields and the US Dollar retreated on news US President Joe Biden intends to raise capital gains tax. “The knock-on effect from the tax […]
Read moreApril 22, 2021 9:01 am
Futures on US West Texas Intermediate Crude Oil retreated for a third consecutive trading day on Thursday, while touching a fresh one-week low, following a surprise increase in US crude oil stocks. Additionally, resurgent coronavirus cases in parts of Asia added to concerns over global economic recovery and fuel demand. A report by the US […]
Read moreApril 16, 2021 9:22 am
Spot Gold was holding near recent seven-week highs on Friday, as the US Dollar and US Treasury yields retreated to lows unseen in almost a month after the US government imposed a wide range of sanctions on Russia over alleged interference in last year’s presidential election. A weaker dollar makes Gold more affordable for international […]
Read moreApril 15, 2021 9:15 am
Futures on US West Texas Intermediate Crude Oil retreated on Thursday, but still held not far from a fresh one-month high achieved earlier in the day, after the International Energy Agency and OPEC revised up their full-year oil demand forecasts. Additional support to prices came on the back of a larger-than-expected drop in US crude […]
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