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.
The price of gold rallied since last April and did not look back until it reached $1,900. The bullish trend started from a double bottom below $1,700, and the move higher formed a series of higher highs and higher lows, typical for a bullish trend. Yet, the recent rejection after […]
Silver price is on a decline ahead of the US inflation data. Economists expect consumer prices to have risen by 4.7% in May on a year-on-year basis. This is in comparison to the prior month’s 4.2%. Notably, the US CPI numbers have come in higher-than-expected since March as inflation concerns […]
Crude oil price has extended its prior gains as a reaction to API’s US oil inventory data. Late on Tuesday, the institute indicated that weekly stockpiles had declined by 2.108 million barrels. Notably, the figure is lower than the prior week’s decline of 5.360 million barrels and the forecasted draw […]
Crude oil price has eased as investors take profit. On Monday, Brent futures were at $72.27, which is its highest level since May 2019. In the same session, WTI futures surged to $70, which it last reached in October 2018. Besides, the strengthening US dollar is exerting pressure on crude […]
It is not unusual for crude oil prices to soar in the summer. But the post-pandemic summer of 2021 looks to send prices higher than usual, as demand soars and producers lag in restoring production. Crude oil prices have already risen more than 40% since the beginning of the year. […]
Silver price is trading lower as investors digest Janet Yellen’s comments regarding President Biden’s spending proposal and inflation. According to the Treasury Secretary, who is also a prior Fed Chair, the president should push on with the proposed $4 trillion spending package. On the one hand, she notes that that […]
The price of gold bounced from the $1,860 area last Friday on a worse than expected NFP report in the United States. Despite the general weakness in the dollar, the move higher did not break the series of lower highs, and now the market meets horizontal resistance. Commodities remain well […]
Gold price (XAU/USD) has spiked 0.92% on the day after the lacklustre Non-farm Payrolls report that showed a modest rise in employment change and a lower unemployment rate. The NFP Employment Change came in at 559K, which was less than the consensus figure of 645K. Also, the unemployment date dropped […]
The price of gold had a tough day yesterday as it fell from the $1,900 level. The market tested three times in a row the same level, and, on its move lower, it broke the previous higher low. In technical terms, this is a bearish trend, and traders will likely […]
The LME Copper price crashed back below $10,000 as fears of slowing demand from its biggest consumer encourages profit-taking. Three-month Copper traded on the London Metal Exchange is trading at $9,905 in Asian hours and attempting to pare yesterday’s -3% losses. Over the last month, the Copper price has retreated […]