June 4, 2021 9:18 am
Following a sharp sell-off on Thursday, Spot Gold was hovering just above a fresh two-week trough on Friday, as the US Dollar strengthened to a three-week high, while the 10-year US Treasury yield surged to 1.63%, increasing the opportunity cost of holding the non-yielding metal. “A much stronger dollar, a rise in U.S. Treasury yields […]
Read moreJune 3, 2021 9:04 am
Futures on US West Texas Intermediate Crude Oil extended gains from the prior two trading days on Thursday, driven by expectations of a recovery in fuel demand later in 2021, most notably in the United States, Europe and China. Market forecasters, including the Organization of the Petroleum Exporting Countries and allies (OPEC+), largely project that […]
Read moreMay 28, 2021 8:40 am
Spot Gold retreated on Friday, as the US Dollar extended a rebound from 20-week lows and the yield on US 10-year government bonds rose above 1.6%, which increased the opportunity cost of holding the non-yielding precious metal. Meanwhile, market players are now expecting the key US personal consumption data due out later on Friday for […]
Read moreMay 27, 2021 9:11 am
Futures on US West Texas Intermediate Crude Oil retreated on Thursday due to concerns over a possible increase in Iran’s oil supply. Still, demand optimism regarding the summer driving season in the United States and Europe was providing certain support. “Most of the euro zone countries’ travel restrictions are lifted considering lower COVID-19 cases boosting […]
Read moreMay 21, 2021 8:35 am
Spot Gold was on track to register its third consecutive week of gains amid signs of inflationary pressure, while the US Dollar held close to 12-week lows against major peers and 10-year US bond yields dropped. “U.S. economic data has given us strong inflation alerts this week, meaning yields and the dollar have fallen, strong […]
Read moreMay 20, 2021 9:23 am
Futures on US West Texas Intermediate Crude Oil retreated for a third straight trading day on Thursday, as an increase in US oil inventories added to demand concerns amid rising new coronavirus infections in parts of Asia, including India where more movement restrictions have been imposed. An official report by the US Energy Information Administration […]
Read moreMay 14, 2021 9:05 am
Spot Gold extended a rebound from this week’s low on Friday due to a softer US Dollar, but gains were limited by key macroeconomic data that bolstered the case of a sooner-than-anticipated increase in interest rates. This week’s macro data showed a sharper-than-expected surge in US consumer prices in April and initial jobless claims hitting […]
Read moreMay 13, 2021 9:07 am
After a two-day rally, futures on US West Texas Intermediate Crude Oil plunged over 2% on Thursday, despite forecasts of a rebound in oil demand globally, as the COVID-19 crisis in India worsened. The International Energy Agency (IEA) said yesterday that oil demand was already exceeding supply, while that shortfall will probably increase even if […]
Read moreMay 7, 2021 9:00 am
Spot Gold extended gains to an 11 1/2-week high on Friday and was also set to register its best weekly performance in six months, as the US Dollar was hovering near a one-week low and 10-year US government bond yields were near a two-week low ahead of the key US Non-Farm Payrolls data due out […]
Read moreMay 6, 2021 9:05 am
Futures on US West Texas Intermediate Crude Oil rose on Thursday following a slight retreat the prior day, as US crude oil stocks decreased at a sharper rate than anticipated last week due to a surge in refining output and exports. An official report by the US Energy Information Administration showed on Wednesday that crude […]
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