September 24, 2021 9:57 am
Spot Gold rebounded from a six-week low on Friday, as concerns over indebted property developer China Evergrande supported demand for the safe-haven metal, while the US Dollar eased from recent one-month highs. “Asian investors could be building gold to protect against undesirable developments in the Evergrande saga over the weekend,” Jeffrey Halley, a senior market […]
Read moreSeptember 23, 2021 8:51 am
Futures on US West Texas Intermediate Crude Oil hit a fresh one-week high on Thursday after a sharper-than-expected drop in US crude oil inventories and as output in the Gulf of Mexico remains obstructed following recent hurricanes. Renewed investor risk appetite also supported oil prices, since concerns over a potential default by property developer China […]
Read moreSeptember 17, 2021 8:47 am
Spot Gold rebounded from an over one-month low on Friday, but was still poised to register a weekly loss as the US Dollar held ground near a three-week peak ahead of the highly anticipated Federal Reserve policy meeting next week. A stronger dollar reduces Gold’s appeal for international investors holding other currencies. “While support at […]
Read moreSeptember 16, 2021 8:18 am
Futures on US West Texas Intermediate Crude Oil remained mostly steady on Thursday, following a 3% surge in the previous session that came after a sharper-than-expected drop in US crude oil inventories. Refiners in the US Gulf area and offshore oil facilities were still in a process of recovery from Category-4 Hurricane Ida, the Energy […]
Read moreSeptember 10, 2021 9:11 am
Spot Gold rose for a second straight trading day on Friday, but was set to register its first loss in five weeks as the US Dollar was poised for its first weekly gain in three amid intensifying jitters over the Federal Reserve’s taper timeline. “The overall backdrop for gold is much more bearish… We’re increasingly […]
Read moreSeptember 9, 2021 8:12 am
Futures on US West Texas Intermediate Crude Oil eased on Thursday, following a 1.4% surge in the previous trading session, as a drop in oil production in the Gulf of Mexico following damage from Hurricane Ida still supported the market. Nearly 77% of US Gulf production, or some 1.4 million barrels per day, remained offline […]
Read moreSeptember 3, 2021 9:00 am
Spot Gold rose on Friday, as the US Dollar hovered just above a fresh one-month low ahead of the highly anticipated US Non-Farm Payrolls report due out later in the day. A weaker US Dollar makes dollar-priced Gold less expensive for international investors holding other currencies. “We’re seeing minor pre-positioning for people that may be […]
Read moreSeptember 2, 2021 8:54 am
Futures on US West Texas Intermediate Crude Oil retreated on Thursday after OPEC+ agreed to continue the gradual return of supply to the market amid surging COVID-19 cases globally and with many US oil refiners still offline. Yesterday the Organization of the Petroleum Exporting Countries and allies, OPEC+, agreed to continue phasing out record output […]
Read moreAugust 27, 2021 8:57 am
Spot Gold edged higher on Friday and looked set to register a third straight weekly gain, as worsening security situation in Afghanistan fueled safe haven demand for the precious metal. Yesterday Islamic State launched a suicide bomb attack on the crowded Kabul airport that led to the death of at least 13 US troops and […]
Read moreAugust 26, 2021 8:44 am
Futures on US West Texas Intermediate Crude Oil snapped a three-day streak of gains on Thursday amid renewed demand concerns stemming from the spread of the novel coronavirus and as oil output returned in Mexico. New outbreaks caused by the Delta variant of the coronavirus raised concerns over the strength of global economic recovery. “Although […]
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