Commodities News

Commodity Market: Gold heads for third week of losses as rate hike expectations underpin bond yields, US Dollar

Spot Gold retreated on Friday and headed for its third consecutive week of losses, after a series of strong macro data revived expectations of further policy tightening by the Federal Reserve. Meanwhile, the US Dollar scaled a fresh six-week high, additionally pressuring Gold prices. Several Federal Reserve officials said this week the bank’s monetary policy […] Read more

Commodity Market: WTI Crude Oil set for weekly gain as markets weigh US recession risks against China demand recovery optimism

Futures on US West Texas Intermediate Crude Oil looked set to register their first weekly gain in three, as market players were still weighing US recession risks against optimism over a sound fuel demand recovery in the world’s largest oil importer, China. The latest data by the US Labor Department seemed to have reignited recession […] Read more

Commodity Market: Gold heads for first weekly loss in seven after central bank hike moves, US Non-Farm Payrolls data in focus

Spot Gold was mostly steady on Friday, after retreating almost 2% in the prior trading day, as market players were mulling interest rate hike moves by major central banks. Yet, the precious metal looked set to register its first weekly decline in seven weeks, as the US Dollar remained firm. “With gold prices delivering a […] Read more

Commodity Market: WTI Crude Oil extends gains on stronger US GDP growth, China demand recovery optimism

Futures on US West Texas Intermediate Crude Oil extended gains from the prior trading session on Friday, supported by faster-than-anticipated US GDP growth and optimism over a swift recovery in China’s fuel demand as COVID-19 infections and deaths in the country significantly decreased from recent peak levels. The latest preliminary data by the US Bureau […] Read more

Commodity Market: Gold heads for fifth straight weekly gain on Fed rate hike slowdown hopes

Spot Gold looked set to register its fifth consecutive week of gains and traded near a nine-month peak on hopes the Federal Reserve may slow the pace of interest rate hikes. “Fed policy calibration thematic amid signs of more entrenched disinflation pressures is a key factor underpinning gold strength,” OCBC FX strategist Christopher Wong was […] Read more

Commodity Market: WTI Crude Oil set for sharp weekly gain on China demand growth, US rate hike prospects

Futures on US West Texas Intermediate Crude Oil looked set to register a solid weekly gain, supported by demand growth hopes in China and expectations of smaller interest rate hikes in the United States. Recent crude purchases by world’s largest oil importer China and an increase in road traffic added to optimism over demand recovery […] Read more

Commodity Market: Gold heads for third straight weekly gain ahead of US Non-Farm Payrolls report

Spot Gold edged up on Friday and looked set to register a third consecutive week of advance ahead of the keenly anticipated US Non-Farm Payrolls data due out at 13:30 GMT. Employers in all sectors of the US economy, excluding farming, probably added 200,000 job positions in December, according to market consensus, following a job […] Read more

Commodity Market: WTI Crude Oil plunges 2% as COVID case surge in China dims fuel demand outlook

Futures on US West Texas Intermediate Crude Oil extended losses from the prior two trading days on Thursday, as spiking new COVID-19 infections in China dampened fuel demand outlook for the biggest oil importer globally. The scale of the latest COVID outbreak across the Asian nation caused some countries to put in place new travel […] Read more

Commodity Market: WTI Crude Oil remains volatile on Keystone pipeline restart uncertainty, Russia supply concerns

Futures on US West Texas Intermediate Crude Oil swung between small gains and losses on Monday, as a major pipeline that supplies the United States was still not operational, while Russia threatened to reduce production as a counter move against the imposed price cap on its oil exports. Canada’s TC Energy Corp said over the […] Read more

Commodity Market: Gold heads for biggest weekly gain in three on expectations of slower Fed rate hikes

Spot Gold was set to register its best weekly performance in three weeks, as the US Dollar eased on expectations of slower rate hikes by the Federal Reserve. The US Dollar Index was set for a weekly loss of 1.5%, as expectations that a peak in interest rates could be near weighed on its demand. […] Read more