Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any […]
Both OPEC and the IEA revised their oil demand forecasts downwards again this week, Commerzbank commodity analyst Carsten Fritsch notes. Oil market to face a significant oversupply next year “OPEC now expects an increase of 1.9 million barrels per day this year and 1.7 million barrels per day next year. That is 100,000 barrels per […]
Oil prices have fallen sharply since the beginning of the week, Commerzbank’s FX analyst Carsten Fritsch notes. Price of Brent oil slides below the $75 “The price of Brent oil slid below the $75 per barrel mark in the morning, after trading at just under $79 on Friday. Yesterday, weak data from China initially led […]
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any […]
Gold price gains positive traction for the second straight day amid bets for additional Fed rate cuts. A softer risk tone further benefits the safe-haven precious metal and contributes to the positive move. Fading hopes for a more aggressive easing by the Fed underpin the USD and cap the XAU/USD. Gold price (XAU/USD) retreats a […]
Gold price remains on the defensive amid reduced bets for a 50 bps Fed rate cut in November. The USD consolidates last week’s strong gains and exerts some pressure on the XAU/USD. Geopolitical risks might continue to act as a tailwind and limit losses for the precious metal. Gold price (XAU/USD) trades with a negative […]
European gas demand is down 10% y-o-y due to weak demand from the power and heating sector, while industrial gas demand remains flat, Rabobank’s commodity analysts note. Geopolitical tensions continue to drive price volatility “A colder-than-usual winter will increase heating demand and competition for LNG, but Europe is unlikely to come out as the premium […]
Here is what you need to know on Thursday, September 19: Following the wild fluctuations seen in financial markets in the American session on Wednesday, volatility remains high early Thursday. The Bank of England (BoE) will announce monetary policy decisions during the European trading hours. Later in the day, the US economic calendar will feature […]
Gold prices rose in Saudi Arabia on Thursday, according to data compiled by FXStreet. The price for Gold stood at 303.60 Saudi Riyals (SAR) per gram, up compared with the SAR 303.06 it cost on Wednesday. The price for Gold increased to SAR 3,541.14 per tola from SAR 3,534.86 per tola a day earlier. Unit […]
While Gold continues to hover near all-time highs, price action is actually weakening uptrend signals’ strength, and thereby lowering the bar for CTA trend followers to liquidate their length, TDS Senior Commodity Strategist Daniel Ghali notes. Price action is weakening uptrend signals’ strength “A break below the $2,490/oz range can now catalyze selling activity that could ultimately […]
Silver price appreciates as weak US labor data raises the odds of a Fed rate cut at its September meeting. CME FedWatch Tool suggests fully pricing in at least a 25 basis point Fed rate cut in September. Chicago Fed President Goolsbee stated that Fed officials are starting to align with the broader market’s sentiment […]
WTI price falls to fresh YTD lows of $68.85 in Thursday’s early Asian session. OPEC+ could delay the planned oil output increase. Concerns of weak demand from China weigh on the WTI price. West Texas Intermediate (WTI), the US crude Oil benchmark, is trading around $68.85 on Thursday. WTI price remains under selling pressure and hits […]
