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.
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 […]
US crude oil inventories in the week ended May 28 came in at -5.1million barrels, which exceeded the previous week’s 1.7million barrel shortfall. Market analysts had predicted a shortfall of 1m barrels. However, crude oil prices were unable to go beyond the intraday high of $71.96 on the Brent benchmark, […]
Silver price is on a rebound after the better-than-expected US jobs data triggered a plunge to $27.04. According to the ADP nonfarm employment report, 978,000 additional individuals were employed in May compared to the forecasted 650,000. In April, that number was lower at 654,000. At the same time, the initial […]
The U.S. Dollar picked up strength on Thursday after a double dose of stellar employment data hit the markets. Data from Automated Data Processing Inc (ADP) showed that private-sector hiring rose by 978K, beating the consensus of 645K and also exceeding the 654K jobs added in April. Furthermore, initial jobless […]
Gold price (XAU/USD) fell heavily on Thursday by more than 1.8% after the number of Americans filing first-time claims for unemployment benefits dropped below 400,000 for the first time since the pandemic began in March 2020. Private sector employment also got a huge boost, with nearly a million jobs added […]
Gold price’s bullish run continues as the yellow metal keeps holding inside a rising channel. Moreover, it trades with a bid tone, as suggested by the series of higher highs and higher lows that is forming. However, gold has recently met dynamic resistance above $1,900, forming what appears to be […]