June 23, 2020 9:33 am
Futures on US West Texas Intermediate Crude Oil recovered from losses registered earlier on Tuesday in volatile trade, induced by confusion over the fate of the US-China trade agreement. Comments from White House trade adviser Peter Navarro that the trade deal is “over” initially triggered a selloff in equities, riskier currencies and oil. However, later […]
Read moreJune 22, 2020 9:41 am
Spot Gold kept trading in proximity to fresh one-month highs during European session on Monday, as rising new coronavirus cases added to concerns over a more prolonged global economic recovery, triggering a move into the safe haven metal. According to data by the World Health Organization, new confirmed COVID-19 cases across the globe rose at […]
Read moreJune 19, 2020 9:32 am
Futures on US West Texas Intermediate Crude Oil extended gains from the previous trading day and touched highs not seen since June 8th on Friday, after OPEC members and allies pledged to meet their commitments on supply cuts, while two global oil traders suggested a sound recovery in oil demand. Iraq and Kazakhstan pledged to […]
Read moreJune 18, 2020 9:19 am
Gold traded in a relatively narrow range on Thursday, as the US Dollar maintained recent gains against peers, while markets awaited Bank of England’s policy decision for clarity over its quantitative easing program. “We’re not really seeing a clear-cut catalyst for gold here. On the one hand, we’re getting a stronger U.S. dollar because the […]
Read moreJune 17, 2020 9:33 am
Futures on US West Texas Intermediate Crude Oil recovered from overnight losses on Wednesday, but gains may be capped as concerns over fuel demand recovery persisted amid rising US crude and fuel inventories. Both WTI and Brent futures surged yesterday after the International Energy Agency (IEA) revised up its full-year oil demand forecast to 91.7 […]
Read moreJune 16, 2020 9:33 am
Gold recovered from losses in the prior trading day and consolidated within the $1,720-$1,730 area in European trade on Tuesday after the Federal Reserve unveiled plans to expand stimulus measures with corporate bond purchases in an attempt to mitigate the impact from the pandemic on economy. The announcement heightened risk sentiment, bolstering global equities and […]
Read moreJune 15, 2020 8:47 am
Futures on US West Texas Intermediate Crude Oil extended losses from last week on Monday, as new COVID-19 infection cases in China and the United States raised concerns over demand recovery. Over the past weekend, four new cases of COVID-19 illness were reported in Beijing, all related with the city’s largest food wholesale market, which […]
Read moreJune 12, 2020 9:41 am
Following a drop from highs unseen in over one week on Thursday, Gold attempted to rebound during European trade on Friday as concerns over a second wave of COVID-19 infections and the Federal Reserve reasserting its emphasized dovish stance supported safe haven demand. The precious metal, having risen almost 3% so far this week, looked […]
Read moreJune 11, 2020 9:36 am
Gold prices eased but still remained near highs unseen in over one week on Thursday, as market players booked profits after recent rally. “We are seeing some profit-taking… But, gold has gotten through the $1,725 level, which suggests that we are in a pretty bullish format right now,” Stephen Innes, chief market strategist at AxiCorp, […]
Read moreJune 10, 2020 9:36 am
Gold prices rose for a third consecutive day on Wednesday as US Treasury yields fell ahead of Fed’s highly anticipated policy decision later in the day. The yellow metal surged 0.97% on Tuesday, while marking its best daily performance since May 7th. Gold has appreciated 2.08% so far this week, rebounding after last week’s steepest […]
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