Commodities News

Commodity Market: Gold heads for second week of gains as US Treasury yields ease from pandemic highs

Spot Gold eased from recent two-month highs on Friday, but was still on track to register its second straight week of advance, as US Treasury yields continued to ease, while reducing the opportunity cost of holding the non-yielding metal. US 10-year government bond yields dropped for a third day to 1.788% on Friday, after surging […] Read more

Commodity Market: US Crude Oil eases from fresh 7-year highs, but strong demand, supply concerns still support

Futures on US West Texas Intermediate Crude Oil eased from recent more than seven-year highs on Thursday, as market players took profits after a month-long price surge. Still, robust demand and short-term supply disruptions continued to provide certain support to the market. “The International Energy Agency said global oil demand is on track to hit […] Read more

Commodity Market: Gold heads for largest weekly advance since early November on softer dollar, lower bond yields

Spot Gold was heading for its largest weekly advance since early November, while drawing support from a softer dollar and lower bond yields. Market players awaited the next set of US macro data due out later on Friday for more clues about the Federal Reserve’s tapering timeline. The US Dollar hovered just above a two-month […] Read more

Commodity Market: US Crude Oil eases from a two-month high on Omicron-induced fuel demand uncertainty

Futures on US West Texas Intermediate Crude Oil eased from recent two-month peak on Thursday on demand uncertainty in the near term amid continuing surge in new Omicron infections around the world. Yesterday oil prices scaled highs unseen since mid-November after US crude oil stocks were reported to have dropped to their lowest level since […] Read more

Commodity Market: Gold heads for largest weekly loss since November, US Non-Farm Payrolls report in focus

Spot Gold was mostly steady on Friday and was heading for its steepest weekly loss since late November ahead of the keenly anticipated US Non-Farm Payrolls data, with the precious metal being pressured by higher Treasury yields. Benchmark US 10-year bond yields remained in proximity to highs not seen since March 2021, while increasing the […] Read more

Commodity Market: US Crude Oil eases from a six-week high as US gasoline stocks surge the most since April 2020

Futures on US West Texas Intermediate Crude Oil eased from a fresh six-week peak on Thursday after the United States reported a larger-than-expected fuel inventory build. The official report by the US Energy Information Administration (EIA) showed on Wednesday gasoline inventories had increased by 10.128 million barrels during the week ended December 31st, or the […] Read more

Commodity Market: US Crude Oil snaps six-day streak of gains as China lowers crude import quotas

Futures on US West Texas Intermediate Crude Oil snapped a six-day streak of gains on Thursday, as China lowered the first batch of import quotas for 2022 to independent refiners by 11% below the comparable year-ago quota. Some analysts expressed concerns that the Chinese government could take stricter actions against refiners. US Crude Futures rose […] Read more

Commodity Market: US Crude Oil on track for a weekly loss as Omicron uncertainty persists

Futures on US West Texas Intermediate Crude Oil retreated on Friday, following two straight trading sessions of gains, and were heading for a weekly loss on concerns the rapid spread of the Omicron coronavirus strain may lead to new restrictions that could affect fuel demand. In countries such as South Africa, the United Kingdom and […] Read more

Commodity Market: Gold heads for fourth week of losses ahead of US November CPI inflation report

Spot Gold was heading for its fourth consecutive week of losses and the US Dollar firmed as market players were cautious ahead of the key US CPI inflation data for November, scheduled to be released at 13:30 GMT today. A high inflation reading could urge the Federal Reserve policy makers, which are to hold a […] Read more

Commodity Market: Gold heads for third week of losses on prospects of faster stimulus tapering

Spot Gold looked set to register its third straight week of losses, pressured by Federal Reserve Chair Jerome Powell’s comments that the bank’s bond-purchasing program could end sooner than previously expected. “An incredibly hawkish tone of the Fed chair, coupled with the prevailing U.S. dollar strength are two things combining to take the shine off […] Read more