Oil price jumps higher for a fourth consecutive day on Monday. Traders send Oil prices higher on trimmed demand outlook from OPEC. The US Dollar Index trades at a pivotal level after being glued to it since last week. Oil price jumps higher for a fourth straight day in a row on Monday. Oil traders […]
Gold: New record highs – Commerzbank
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Following the slump at the beginning of the week, the price of Gold has risen again to almost $2,430 per troy ounce, Commerzbank’s commodity strategist Barbara Lambrecht notes. Gold is set to remain in demand “The Gold price was unable to benefit from the turbulence at the start of the week. On the contrary, the […]
Here is what you need to know on Thursday, August 8: Following a two-day rebound, the US Dollar (USD) seems to be struggling to keep its footing on Thursday, with the USD Index retreating back below 103.00 in the European session. The US Department of Labor will release the weekly Initial Jobless Claims data later […]
The Gold price recovers its recent losses in Monday’s Asian session. Disappointing US employment reports and risk-off sentiment continue to support the yellow metal. Investors await the release of US ISM Services PMI for July, which is due on Monday. Gold price (XAU/USD) gains traction on Monday on the softer Greenback. Markets are still digesting […]
Gold advances with risk appetite returning as geopolitical fears ease. Hopes that the Fed might hint towards monetary easing on Wednesday keep US Treasury yields near mid-term lows. XAU/USD needs to break the $2,400 resistance to cancel the broader bearish structure. Gold price (XAU/USD) found buyers after a moderate pullback on Monday. The precious metal […]
WTI attracts some sellers near $76.25 in Tuesday’s Asian session, down 0.45% on the day. The weaker outlook for crude demand in China weighs on the WTI price. Rising geopolitical tensions in the Middle East are likely to disrupt oil supplies, capping the downside for Oil prices. West Texas Intermediate (WTI), the US crude oil […]
Gold price gains ground near $2,395 in Monday’s early Asian session. The easing PCE inflation data on Friday has paved the way for a widely anticipated September rate cut. The sluggish Chinese economy and less demand for Gold from Asian central banks might cap Gold’s upside. Gold price (XAU/USD) edges higher to $2,395 during the […]
Gold has fallen in recent days, but after a price increase of almost $200 between the end of June and mid-July, Commerzbank’s Commodity Analyst Barbara Lambrecht notes. Gold price may lose an important support “The price of Gold has also fallen in recent days despite rising risk aversion, which normally boosts Gold due to its […]
Oil prices remained at just over $80, a barrel of Brent crude was temporarily as cheap as it was last at the beginning of June, Commerzbank’s Commodity Analyst Barbara Lambrecht notes. Crude oil trades above $80 “Oil prices remained under pressure this week: at just over $80, a barrel of Brent crude was temporarily as […]
AUD/USD tumbles to near 0.6600 on multiple headwinds. China’s poor economic outlook, sliding iron ore prices, and weak Aussie Judo Bank flash PMI have weighed heavily on the Australian Dollar. The US Dollar will dance to the tunes of the US PCE inflation report for June. The AUD/USD pair extends its losing spell for the […]
In May, Copper supply exceeded demand by 65 thousand tons, with the ICSG reporting a supply surplus of 416 thousand tons for the first five months. Even though seasonal effects play a role here and the seasonally adjusted market surplus also reported by the ICSG was ‘only’ 250 thousand tons, Commerzbank’s commodity strategist Barbara Lambrecht […]
Should demand expectations recover, palladium’s short squeeze could be reignited. It could be set-up to notably benefit from a reversal in broad commodity demand sentiment, TDS Senior Commodity Strategist Daniel Ghali notes A recovery in demand expectations may push Palladium higher “Should commodity demand expectations continue to subside, a cluster of Commodity Trading Advisor (CTA) […]
