Commodities News

Commodity Market: Gold plummets to a fresh nine-month low as Fed Chair Powell’s remarks on bond yields bolster US Dollar

Spot Gold extended losses from the previous two trading days on Friday, while hitting a fresh nine-month low, following some disappointing remarks on rising bond yields by Federal Reserve Chair Jerome Powell, which further bolstered bond yields and the US Dollar. The precious metal also looked set to register its third consecutive week of losses. […] Read more

Commodity Market: US Crude Oil extends gains as OPEC+ may decide not to raise output

Futures on US West Texas Intermediate Crude Oil extended gains from the previous trading day on Thursday, as OPEC+ producers may decide to stick with oil output cuts at a meeting later today, which provided support to oil prices. The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, may roll over production […] Read more

Commodity Market: Gold plummets to an eight-month low as US bond yields surge to 52-week highs

Spot Gold extended losses from the previous three trading days on Friday, while hitting a fresh eight-month low, as optimistic macroeconomic outlook and higher inflation expectations gave US bond yields a boost. The commodity was also poised to register its second straight week of losses and the worst monthly performance since November 2020. Yesterday the […] Read more

Commodity Market: US Crude Oil rises to a fresh 59-week high amid a sharp drop in US oil production, weaker US Dollar

Futures on US West Texas Intermediate Crude Oil extended gains from the previous trading session on Thursday, while touching a fresh 59-week high, as a Texas winter storm led to a considerable drop in US crude oil production last week, while the Federal Reserve assured markets that monetary policy would remain accommodative. The latest data […] Read more

Silver’s Price Channel Suggest Weak Trend Strength

Silver price started off the month of February with a sparkle as traders tried to push a short squeeze to rail the large institutions.  Since the February 1 high, silver prices have softened and seemed to have settled within a $26-28 price range. Silver Price Momentum At the time of this writing, silver prices have […] Read more

Commodity Market: Gold hits a fresh 33-week low as rising US bond yields reduce the metal’s appeal

Spot Gold extended losses from the prior several trading days on Friday, while hitting a fresh 33-week trough, as the recent surge in US bond yields continued to weigh on demand for the safe-haven metal. Gold also looked set to register its biggest weekly loss since late November, being down 2.74%. The yield on 10-year […] Read more

Commodity Market: US Crude Oil hits a fresh 13-month high on concerns of prolonged energy freeze in Texas

Futures on US West Texas Intermediate Crude Oil extended gains from the prior three trading days on Thursday, while hitting a fresh 13-month high, due to concerns that a cold front in Texas, the largest oil-producing state, could disrupt oil output for days. Texas is facing massive refining outages and oil and gas shut-ins, with […] Read more

Commodity Market: Gold extends losses as US Dollar rebounds from two-week lows with higher US bond yields

Spot Gold extended losses from the prior trading day on Friday, as the US Dollar rebounded from recent two-week lows, supported by a rise in 10-year US bond yields. Still, however, the yellow metal looked set to register its first weekly gain in the past three weeks on hopes of additional fiscal stimulus in the […] Read more

Commodity Market: US Crude Oil eases from one-year highs on expectations of slower economic recovery, speculation of lower output cuts

Futures on US West Texas Intermediate Crude Oil eased from yesterday’s over 1-year high on Thursday due to expectations of slower economic recovery, while speculation emerged that recent oil price gains could prompt key producers to cut output at a lesser rate. “Benchmark crude oil futures fell … as investors tapped the brakes on the […] Read more