September 3, 2020 9:10 am
Futures on US West Texas Intermediate Crude Oil extended losses from the previous trading day and hit lows unseen in a month on Thursday due to concerns over weakening gasoline demand in the United States, even as crude oil stocks registered a sharp drop. A report by the US Energy Information Administration (EIA) showed on […]
Read moreSeptember 2, 2020 9:28 am
Following three straight trading days of gains, Gold retreated on Wednesday as the US Dollar regained ground after upbeat US manufacturing data added to investor optimism over economic recovery. The US Dollar rebounded from lows unseen since April 30th 2018 against six major peers, after the latest report by the Institute for Supply Management showed […]
Read moreSeptember 1, 2020 9:25 am
Futures on US West Texas Intermediate Crude Oil rebounded on Tuesday, as market players were buying riskier assets and selling the US Dollar, a traditional safe haven, following a shift in policy framework introduced by the Federal Reserve Bank last week. The central bank’s policy shift to target average inflation and higher employment suggested that […]
Read moreAugust 31, 2020 9:10 am
Spot Gold traded not far from two-week highs in Europe on Monday, after a shift in the Federal Reserve’s policy framework indicated borrowing costs in the country would stay low for a longer period of time. In his speech at the Jackson Hole virtual symposium last week Federal Reserve Chair Jerome Powell said the central […]
Read moreAugust 28, 2020 9:24 am
Futures on US West Texas Intermediate Crude Oil extended losses from the prior trading day on Friday, as Hurricane Laura made a landfall in Louisiana and Texas, but did not cause severe damage to oil refineries in the area. On Thursday Louisiana was hit by Hurricane Laura, as its 240-kilometer-per-hour winds knocked down trees, caused […]
Read moreAugust 27, 2020 9:25 am
Spot Gold edged lower on Thursday, after recording its biggest single-day gain since August 17th on Wednesday, due to some profit-taking ahead of a highly anticipated speech by Federal Reserve Chair Jerome Powell at the annual economic policy symposium later in the day. “It was a pretty significant rally overnight on pretty limited news. The […]
Read moreAugust 26, 2020 9:20 am
Having settled at a five-month high on Tuesday, futures on US West Texas Intermediate Crude Oil eased on Wednesday as disappointing US consumer confidence data added to demand concerns, limiting price gains. Both WTI Crude and Brent Oil futures rose more than 2% on Tuesday, as US producers were making preparations before Hurricane Laura hits […]
Read moreAugust 25, 2020 9:18 am
Spot Gold extended losses from the previous trading day in Europe on Tuesday as the US Dollar held steady in proximity to recent over one-week highs, while market focus now turns to Fed Chair Jerome Powell’s speech at the Jackson Hole virtual symposium, scheduled on August 27th-28th, for further clues over US monetary policy outlook. […]
Read moreAugust 24, 2020 9:10 am
Futures on US West Texas Intermediate Crude Oil rebounded on Monday as tropical storms descended upon the Caribbean and were nearing the Gulf of Mexico, causing the shutdown of over half of its oil output. In addition, oil prices were supported by news that US health authorities approved the use of blood plasma from recovered […]
Read moreAugust 21, 2020 9:33 am
Spot Gold erased part of Thursday’s gains, but remained supported above the $1,920 mark in Europe on Friday. Still, the commodity was poised for a second straight week of decline, as the US Dollar pared earlier losses. Yesterday the precious metal rose almost 1%, as the dollar and US bond yields dropped after an unexpected […]
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