June 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 […]
Read moreJune 9, 2020 9:52 am
Gold prices rose for a second straight day on Tuesday, but the precious metal traded within a relatively tight range, due to investor caution ahead of the Fed’s two-day policy meeting. “Given the enthusiasm for risk and growth exposed assets, we could see pressure come to gold during the session, but on the other hand […]
Read moreJune 8, 2020 9:32 am
Gold prices tumbled to lows not seen since April 21st on Friday and marked the sharpest weekly decline since the business week ended on March 13th, as the official government report on US Non-farm Payrolls added to investor optimism over a swift recovery, dampening safe haven demand. Data showed all segments of the US economy, […]
Read moreJune 5, 2020 9:33 am
Gold was set to register its third straight week of losses on mounting economic recovery optimism, as markets now awaited the more comprehensive US non-farm payrolls report. Data by ADP showed on Wednesday that US private sector had fired only 2.76 million workers in May, following April’s record drop in employment. Another positive signal came […]
Read moreJune 4, 2020 9:25 am
After sliding to lows unseen since May 7th on Wednesday due to economic recovery optimism-driven rally in global equities, Gold recouped a portion of losses on Thursday, climbing back above the $1,700 mark in a corrective move. Lockdown restriction easing coupled with a bit more optimistic macro data heightened risk sentiment and pressured the safe […]
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