September 18, 2020 9:15 am
Futures on US West Texas Intermediate Crude Oil extended gains from the prior three trading days and hit a two-week high on Friday after a report by Goldman Sachs stated the oil market was in deficit. Additionally supporting prices, a new tropical depression began to develop in the western part of the Gulf of Mexico, […]
Read moreSeptember 17, 2020 9:25 am
Gold retreated from Wednesday’s two-week high and was losing almost 1% on Thursday, after Federal Reserve Chair Jerome Powell’s remarks on economic outlook bolstered US bond yields and lifted the US Dollar to a one-week high against major peers. US economy is now expected to contract 3.7% in 2020, compared to a 6.5% contraction forecast […]
Read moreSeptember 16, 2020 9:07 am
Futures on US West Texas Intermediate Crude Oil extended gains from the prior trading day on Wednesday, as part of US offshore oil and gas production was shut down due to Hurricane Sally, while an industry report revealed an unexpected drop in US crude stockpiles. Drillers and refiners shut at least 25% of US offshore […]
Read moreSeptember 15, 2020 9:12 am
Spot Gold extended gains from the previous trading day and touched a fresh two-week high on Tuesday, mostly because the US Dollar softened ahead of the Federal Reserve’s two-day policy meeting, starting later today, which may offer further clues over the bank’s new policy framework. A softer dollar makes safe haven Gold less expensive for […]
Read moreSeptember 14, 2020 9:04 am
Futures on US West Texas Intermediate Crude Oil edged lower on Monday as concerns over rising global supply and weakening fuel demand overshadowed reports of oil drillers evacuating facilities and shutting down production in the Gulf of Mexico as another tropical storm was heading towards the area. News of oil production being shut down usually […]
Read moreSeptember 11, 2020 9:48 am
Spot Gold eased from Thursday’s one-week high of $1,966.57 and traded within a tight range on Friday, as the US Dollar remained not far from its one-month peak supported by a tech stock rout this week. “A rebound in the U.S. dollar index sent gold prices lower following the European Central Bank’s neutral tone last […]
Read moreSeptember 10, 2020 10:03 am
After surging more than 3% on Wednesday, futures on US West Texas Intermediate Crude Oil resumed their slide on Thursday after an unexpected rise in US crude oil stockpiles during the past week. An industry report by the American Petroleum Institute showed yesterday that US crude oil stocks had increased by 2.9 million barrels during […]
Read moreSeptember 9, 2020 8:55 am
Spot Gold was stuck within a tight trading range in Europe on Wednesday, as the US Dollar remained firm near a fresh one-month high against a basket of major peers, while market players awaited policy decisions by Bank of Canada and the European Central Bank later in the week. “Traders in Asia will adopt a […]
Read moreSeptember 8, 2020 9:20 am
Futures on US West Texas Intermediate Crude Oil retreated to a fresh ten-week low on Tuesday, as fuel demand concerns mounted with US summer driving season coming to an end. Additionally, a spike in confirmed COVID-19 cases in 22 out of 50 US states during the US Labor Day weekend added to demand fears. The […]
Read moreSeptember 4, 2020 9:23 am
Spot Gold edged higher on Friday, following two straight days of losses, as the precious metal benefited from lower US bond yields and a sell-off in equities prior to the release of key US jobs data later in the day. The yield on US 10-year government bonds was set to record the steepest weekly slump […]
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