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 crude oil price rose for the fifth consecutive month in February as investors reacted to the ongoing economic recovery. The voluntary supply cuts by Saudi Arabia and the ongoing winter conditions in Texas helped play a role. What is the oil prices outlook for March? Crude oil price news: […]
Gold price on the XAU/USD pair failed to recapture ground above the $1800 psychological resistance, dropping nearly 1% in the process. Gold price activity now has a bias for downside targets as it continues to remain pressurized by the market fundamentals. Broad-based selling on the greenback failed to rescue the […]
Crude oil price keeps forming higher highs while holding the series of higher lows, a move that defines a bullish trend. The current run higher in the price of crude oil started in November when the pharma companies have announced the efficacy of the COVID-19 vaccines. Ever since, the crude […]
Copper prices continued their steady advance on Wednesday, after exceeding the projected measured move target following the resolution of the bullish pennant on the daily chart. Yesterday, it was indicated in my review of the price action of copper that OCBC bank was projecting a new record high for copper […]
Gold price (XAU/USD) has had another bearish session, selling off towards the $1789.49 support line. This comes as US long-term bond yields have another resurgent session. However, the price has bounced off this support line, allowing the yellow metal to claw back some of the earlier losses of the day. […]
Spot silver prices (XAG/USD) are trading lower as a result of a renewed surge in US bond yields. The pickup in activity in the US government bond market, where the US-10 year and the 30-year yields have cleared 1.40% and 2.20% respectively, has forced capital out of the non-yielding metals […]
Ahead of the EIA report, crude oil prices have recovered sharply after Tuesday’s decline. The drop in crude oil prices on Tuesday came after the API inventories report showed a surprise jump in US crude stocks. Tuesday’s 1.19% drop has been followed by a recovery of 1.32%. The crude oil […]
Gold price bounced from the lows, albeit the move higher is not convincing anyone yet. The problem with gold bulls is that they feel left outside of the recent rally in the commodity markets. Copper and crude oil rallied the most, but gold lagged. Currently, the price of gold forms […]
As copper prices hit 10-year highs yesterday, two sets of contrasting opinions have hit the market this Tuesday. On the one hand is OCBC Bank, whose strategists are predicting a new record high within the current super-cycle. OCBC cites exceptional end-demand from China and decade-low inventories as the prime factors […]
Copper prices have hit a 10-year high, after concerns that supplies will tighten further when the world recovers from the coronavirus pandemic. Copper prices have nearly doubled since the March 2020 crash, fueled by recovering demand from China and supply shortfalls that have arisen from several strikes in the world’s […]
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