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.
Gold prices have edged higher this Thursday after the Bureau of Economic Analysis reported slower-than-expected growth in the US economy for the second quarter of 2021. The Q2 2021 US GDP (advanced) came in at 6.5% versus the consensus number of 8.5%. The slower growth also adds support to the […]
Gold price maintained the bullish momentum of the day and closed higher after the FOMC reiterated it was not in a hurry to taper the QE program. The US Dollar edged lower on the rate statement and subsequent speech by Jerome Powell, who heads the FOMC. FOMC Chief Powell maintained […]
Crude oil price on the Brent benchmark was little changed this Wednesday, following the release of crude oil inventories report that showed a drawdown of 4.1million barrels for the week ended July 23. This figure, reported by the Energy Information Administration, showed that inventories fell more than expected (-2.6m barrels). […]
Crude oil price is within a horizontal channel ahead of EIA’s weekly US oil inventory data. On the one hand, the aggressive spreading of the Delta coronavirus variant has triggered concerns on global oil demand. Late on Tuesday, the American Petroleum Institute (API) indicated that the amount of oil in […]
Crude oil price on the Brent benchmark is slightly lower this Tuesday, as traders sit on the sidelines to wait for the outcome of the FOMC meeting. Before today crude oil prices have been on the upside for four straight days as concerns over tight supply outweigh the demand concerns […]
Crude oil price on the Brent benchmark looks to end the week higher as demand pressures continue to fire up prices. On Friday, Commerzbank analysts hinted at a $75 per barrel price target for the end of the year, as it expects demand to outstrip whatever supply increases are brought […]
Crude oil price has eased after a two-day surge. Earlier in the week, uncertainties surrounding the demand and supply dynamics exerted pressure on the commodity. Investors were concerned about increased supply after OPEC+ member states agreed to increase monthly output by 400,000 bpd from August. The decision comes at a […]
Silver price is on a rebound as a risk-off mood remains a key driver in financial markets. Interestingly, the decline in risk appetite has had a dual impact on prices. On the one hand, silver’s industrial demand has dropped as the coronavirus Delta strain spreads aggressively. According to health authorities […]
Financial markets started the trading week in a risk-off move, mainly driven by the bearish price action seen in the crude oil price. The price of oil formed a head and shoulders pattern, just confirmed by the recent drop. Moreover, as the measured move was confirmed, the bearish reversal might […]
Gold price on the XAU/USD chart is trading lower today as demand for the greenback sends the pair sharply lower at the start of the session. Gold price has recouped most of these losses, but downside bias remains as investors seek the comfort of the safe-haven dollar on rising coronavirus […]
