Commodity Market: US Crude Oil retreats as API reports unexpected surge in US crude stocks, resurgent virus stokes demand concerns

September 23, 2020 9:01 am
Futures on US West Texas Intermediate Crude Oil resumed slide on Wednesday after an industry report revealed an unexpected surge in US crude stockpiles last week. Additionally, a second wave of COVID-19 infections across Europe and the probability of another round of lockdown restrictions in Britain have added to fuel demand concerns. “A resurgence in […] Read more

Commodity Market: Gold stuck in a tight range as USD steadies, markets expect Fed Chair Powell’s testimony before Congressional committees

September 21, 2020 8:24 am
Spot Gold was trading within a narrow range in Europe on Monday, as the US Dollar steadied after touching a 1 1/2-week low, while market players’ focus now sets on a plethora of speeches by Federal Reserve officials this week for further clues on the bank’s policy framework shift. Federal Reserve Chair Jerome Powell is […] Read more

Commodity Market: Gold rises to a fresh two-week high due to softer US Dollar, market focus sets on the FOMC meeting

September 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 more