July 15, 2020 9:21 am
Futures on US West Texas Intermediate Crude Oil extended gains from a day ago on Wednesday, after a report by the American Petroleum Institute (API) showed the largest drop in crude oil inventories in 11 months, while markets awaited the outcome from a meeting of the Joint Ministerial Monitoring Committee (JMMC) of OPEC+ later in […]
Read moreJuly 14, 2020 9:20 am
Having faced strong resistance in the area near July 8th high ($1,818.09) during the past several trading days, Gold briefly eased below the $1,800 mark on Tuesday as the US Dollar regained strength, making the yellow metal costlier for holders of other currencies. Still, geopolitical tensions and worsening COVID-19 situation in the United States and […]
Read moreJuly 13, 2020 9:17 am
Futures on US West Texas Intermediate Crude Oil retreated almost 2% on Monday, paring gains achieved on Friday, as market players awaited a technical meeting by OPEC at which oil supply reductions are expected to be eased. The Ministerial Monitoring Committee, OPEC+’s production oversight group, will meet on July 14th and 15th to assess each […]
Read moreJuly 10, 2020 9:10 am
Gold prices eased from highs last seen in September 2011, but still kept ground above the $1,800 mark on Friday, as market players favored the US Dollar as a safe haven asset amid a record surge in daily new COVID-19 cases in the United States that curbed optimism over a swift recovery. The latest data […]
Read moreJuly 9, 2020 9:19 am
Futures on US West Texas Intermediate Crude Oil traded lower on Thursday, paring gains from the previous day, since concerns over possible coronavirus lockdown re-imposition in the United States offset signs of recovery in US demand for gasoline. “The market’s struggling to get strong conviction to the upside at the current point in time,” Lachlan […]
Read moreJuly 8, 2020 9:32 am
Gold extended gains from the previous two trading days and hit highs not seen since early November 2011 on Wednesday, as continuing spread of the coronavirus across the United States and elsewhere added to prospects of more stimulus, supporting demand for the haven metal. The number of confirmed cases of the COVID-19 illness in the […]
Read moreJuly 7, 2020 9:43 am
Futures on US West Texas Intermediate Crude Oil retreated over 1% on Tuesday, while erasing gains achieved a day earlier, on mounting fears that continuing rise in new COVID-19 cases across the United States, the largest oil consumer globally, will hamper fuel demand recovery. Since 16 US states reported a record surge in new coronavirus […]
Read moreJuly 6, 2020 9:35 am
After recording four straight weeks of gains, Spot Gold continued to edge up on Monday, as economic recovery concerns stemming from the ongoing surge in new COVID-19 cases across the United States and elsewhere supported demand for the haven metal. At least 15 US states reported a record surge in new infections during the first […]
Read moreJuly 3, 2020 9:36 am
Futures on US West Texas Intermediate Crude Oil retreated on Friday, paring gains achieved so far this week, as concerns re-emerged that the new wave of COVID-19 infections across the United States and elsewhere could hamper fuel demand recovery. The United States, the largest oil consumer globally, reported over 55,000 new COVID-19 infections on Thursday, […]
Read moreJuly 2, 2020 9:23 am
Gold prices eased from Wednesday’s nearly 93-month high and remained within a narrow daily range on Thursday, as recent upbeat US macro data coupled with hopes for a potential coronavirus vaccine prompted investors to cut their safe haven bets. Yesterday the Institute for Supply Management said US manufacturing activity had rebounded sharply in June, with […]
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