Commodity Market: Gold heads for first gain in four weeks as US Dollar weakens to an over 31-month low due to US stimulus optimism

December 4, 2020 10:39 am
Spot Gold was mostly flat in Europe on Friday, but headed for its first gain in four weeks, as the US Dollar weakened to levels not seen since late April 2018 on growing optimism regarding US stimulus. Weaker dollar makes the yellow metal less expensive for international investors holding other currencies. “Upward momentum (in gold) […] Read more

Commodity Market: Gold heads for third week of losses as markets shrug off doubts over vaccine success rate

November 27, 2020 10:48 am
Spot Gold was on track to register its third consecutive week of decline, as market players weighed optimism over the timing of COVID-19 vaccines’ arrival against some concerns over the effectiveness of a leading vaccine candidate. AstraZeneca was faced with some tough questions regarding the success rate of its vaccine, which brought forth certain doubts […] Read more

Commodity Market: Gold on track for second week of losses, as vaccine optimism and stimulus uncertainty weigh

November 20, 2020 11:04 am
Spot Gold was on track to register its second straight week of losses, as reports of promising coronavirus vaccine results and uncertainty over Federal Reserve’s stimulus programmes weighed on demand for the precious metal. In a letter, US Treasury Secretary Steven Mnuchin told Fed Chair Jerome Powell that $455 billion, allocated to the Treasury under […] Read more

Commodity Market: US Crude Oil eases from one-week highs as accelerating pandemic overshadows vaccine euphoria

November 19, 2020 10:45 am
Futures on US West Texas Intermediate Crude Oil eased from yesterday’s one-week high on Thursday, as accelerating pandemic and tighter economic restrictions worldwide heightened concerns over weaker fuel demand, while overshadowing vaccine optimism. The latest data by the Center for Systems Science and Engineering at Johns Hopkins University showed total confirmed COVID-19 cases had already […] Read more

Commodity Market: Gold heads for largest weekly loss since late September, vaccine optimism and no stimulus progress in the US weigh

November 13, 2020 11:26 am
Spot Gold edged higher within a narrow trading range on Friday, supported by a surge in new COVID-19 infections across Europe and the United States. However, the yellow metal looked set to register its largest weekly loss since the business week ended on September 25th due to optimism over coronavirus vaccine progress. Spot Gold plummeted […] Read more