August 20, 2020 9:17 am
Futures on US West Texas Intermediate Crude Oil retreated on Thursday on demand recovery risks stemming from a prolonged COVID-19 crisis and a lower-than-anticipated drop in US crude oil inventories. A report by the US Energy Information Administration showed on Wednesday that crude oil stocks had decreased by 1.632 million barrels during the week ended […]
Read moreAugust 19, 2020 9:23 am
Having touched a fresh one-week high on Tuesday, Spot Gold eased back below the $2,000 mark on Wednesday as the US Dollar steadied near lows last seen in early May 2018 ahead of the release of the latest FOMC Minutes. “Gold is down as the U.S. dollar strengthened slightly this morning. In the short term, […]
Read moreAugust 18, 2020 9:10 am
Futures on US West Texas Intermediate Crude Oil extended gains from the prior trading day on Tuesday after the Organization of the Petroleum Exporting Countries and allies, collectively known as OPEC+, said members were almost entirely complying with production cuts in support of oil market as fuel demand remains subdued due to the pandemic. OPEC+ […]
Read moreAugust 17, 2020 9:26 am
Spot Gold started the new week on a stronger footing in Europe as the latest macro data from Japan and the United States added to prospects of a sluggish economic recovery. Still, a slight improvement in investor risk appetite due to signs of easing US-China tensions could limit upside for the yellow metal. An official […]
Read moreAugust 14, 2020 9:30 am
Futures on US West Texas Intermediate Crude Oil fell on Friday, but were still headed for a second weekly gain after the latest government data showed US crude oil stocks had dropped more than anticipated last week. On the other hand, two prominent forecasters cut their 2020 oil demand projections, which pared weekly gains for […]
Read moreAugust 13, 2020 9:15 am
Spot Gold rebounded on Thursday and maintained ground above the $1,900 mark, as US 10-Year Bond yields eased from one-month highs, thus, lowering the opportunity cost of holding the yellow metal, while the US Dollar weakened against major peers due to continuing political stalemate in the United States over coronavirus aid. The impasse is obstructing […]
Read moreAugust 12, 2020 9:11 am
Futures on US West Texas Intermediate Crude Oil rebounded on Wednesday, after an industry report stated that US crude oil inventories had dropped at a sharper-than-anticipated rate last week, which added to optimism fuel demand could resist the continuing spread of the coronavirus. A report by the American Petroleum Institute revealed on Tuesday that US […]
Read moreAugust 11, 2020 9:03 am
Spot Gold retreated nearly 2% in Europe on Tuesday and fell below the $2,000 mark for the first time since August 4th, as market players took profits following the haven metal’s recent rally. The US Dollar was holding gains against major peers on hopes of a deal on US fiscal stimulus, while US bond yields […]
Read moreAugust 10, 2020 8:34 am
After two straight days of losses, futures on US West Texas Intermediate Crude Oil rebounded on Monday, as support was drawn from both an optimistic outlook for demand in Asia and a pledge by Iraq to increase output cuts. Amin Nasser, Saudi Aramco’s Chief Executive Officer, said over the past weekend that oil demand in […]
Read moreAugust 7, 2020 9:23 am
Spot Gold registered a new all-time high on Friday, as the US Dollar remained near lows unseen in over 2 years, while investor concerns over the global economic impact from the spreading coronavirus continued to support demand for the safe haven metal. The latest data by the Center for Systems Science and Engineering at Johns […]
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