Commodities
Read the latest Gold and Crude oil news by our experienced commodity traders and market strategists. We cover key markets such as Gold prices, Brent Crude Oil, West Texas Intermediate Crude oil, but also Copper, Palladium, and Platinum prices amongst others. We aim to provide relevant commodity market news, insights on price drivers, and the key technical levels that traders are watching to make better-informed trades.
Crude oil prices on both benchmarks surged on Friday after OPEC + oil producers agreed to extend the current production curbs until April. Saudi Arabia also surprised the markets by agreeing to extend its 1 million barrels per day production cut for another 2 months, providing a firm footing for […]
Bearish bias on the XAU/USD pair has been retained, following the better-than-expected outcome of the Non-Farm Payrolls report. Data released by the Bureau of Labor Statistics reveals that the non-farm employment change for February 2021 stood at 379K, which was better than the 197K that the markets had predicted, and […]
Gold price is struggling. Its price has declined to $1,695, which is the lowest it has been since June last year. Also, it is also almost 20% below its all-time high of $2,075. Gold and inflation paradox: Gold is a precious metal that has no major use in the industrial […]
Silver prices on the XAG/USD pair are plunging, as are other commodities, as the intraday strengthening of the US Dollar gathers pace after the Fed Chair’s speech. Fed Chair Jerome Powell largely dismissed the rally in the bond markets when specifically asked about the bond yields, saying that persistent tightening […]
A rising US Dollar is pushing back against risky commodity assets, and the 3.07% slump in copper price this Thursday appears to be a reflection of this scenario. Copper prices have ridden high on the recovery of demand from China, as coronavirus vaccinations and other control measures allow the reopening […]
Gold price may have rebounded slightly this Thursday, but it remains under pressure as it continues to get squeezed by rising US bond yields. Today’s speech by Jerome Powell remains the fundamental triggers of note for the XAU/USD pair. Gold price has edged slightly higher in what has been a […]
Crude oil prices on the Brent crude benchmark are slightly higher today, but traders have had to endure a very choppy day of trading as markets await the decision of the OPEC + alliance on output. Yesterday’s sharp rise in crude oil inventories did little to stop the recovery of […]
Gold price looks bearish as bearish can be as it keeps forming lower lows without able to bounce significantly. Investors keep exiting the precious metal as the bullish dollar narrative gains traction on the back of higher long-term yields in the United States. What is curious here is that the […]
The silver price is in a tight range as traders wait for the outcome of Joe Biden’s $1.9 trillion stimulus package. The metal is trading at $26.60, which is slightly below last week’s high of $28.32. What happened: Silver traders are mostly focused on the ongoing stimulus deliberations in Washington. […]
Crude oil price was the star of the previous month as the bullish price action seen at the start of the year continued into February. The market reached $63 before dropping below the $60 level, a pivotal one. What is interesting here is that the market already reached in the […]
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