Thu, March 28, 2024

Commodities

wibest - gold

Gold Declines as USD Strengthens | Wibest Broker

Gold was down on Thursday morning in Asian commodities. A stronger dollar pulled the precious metal back from its two-week high. The dollar improved due to  better-than-expected U.S. unemployment figures. The USD pushed gold down steeply on Thursday. Gold futures declined 1.23% to $1,946.30 by 12:49 AM ET (5:49 AM GMT). Moreover, the U.S. Federal …

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Gold bars

Gold Up Ahead of Fed’s Policy Statement | Wibest Broker

Gold futures were edging higher in commodities on Wednesday. Investors were positioning ahead of a Federal Reserve statement that’s likely to prove mostly bullish for long-term metals investors. Markets are expecting the Fed to indicate continued support even if it isn’t expected to change interest rates. This is from a range between 0% and 0.25%.  …

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shell logo

Shell Focuses on Australian Operations | Wibest Broker

Royal Dutch Shell sees its liquefied natural gas as core to its long term plans. It remains undaunted by hefty write downs on its Australian gas assets.  Also core to its long term plans is Royal Dutch Shell’s “new energy” acquisitions Down Under. This was a statement from the Australian unit’s chairman about these commodities …

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Oil barrel tank at the nature field

Oil Set for First Back-to-Back Weekly Losses

Oil headed for its first back-to-back weekly losses since April’s price rout in energy commodities. Swelling U.S. stockpiles added to signs that the global energy demand recovery will take longer than previously anticipated. In New York, futures were steady near $37 a barrel and are down around 6% this week. Moreover, U.S. crude inventories rose …

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Soybean field at sunset

Soybean Reaches 2018 Highs, Wheat Awaits Heavy Rains

Soybean demand rose for its 11th straight week on Tuesday to its highest since June 2018. Meanwhile, other agricultural commodities are anticipating heavy rains in coming months. Chicago Board of Trade added $9.74-3/4 a bushel earlier after touching a $9.77 high last seen in June 2018. Private exporters for the US commodity sold 318,000 tons …

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Saudi Arabia Riyadh

Saudi King Eager to Reach Fair Solution to Palestinian Issue

Saudi Arabia’s King Salman expressed eagerness to achieve a fair and permanent solution to the Palestinian issue. On a phone call on Sunday, King Salman told U.S. President Donald Trump about the issue. He said it was the main starting point of the kingdom’s proposed Arab Peace Initiative. This phone conversation followed a historic U.S. …

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Gold prices in cautious trade ahead Fed meeting

Gold Prices Perk Up after Stock Selloff | Wibest Broker

Gold futures on Friday were rising modestly in commodities. This was off their lowest settlement in a week on Thursday. But the precious metal is on pace for a weekly decline. Investors unwound bullish bets in equities and reposition their overall portfolios. This is amid expectations for further turbulence in financial markets. Declines in the …

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Oil Rig at late evening

Oil Prices Remain Around Multi-week Lows

Oil prices were hovering around multi-week lows on Thursday in energy commodities. This was due to worries about falling U.S. gasoline demand. In addition, the sluggish economic recovery from the COVID-19 pandemic dented sentiment. U.S. West Texas Intermediate (WTI) crude (CLc1) futures were up 4 cents. This was 0.10%, at $41.55 a barrel by 0626 …

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Close up industrial view of oil refining. canola

Oil Gains on US Stock Draw & Hopes on Economic Recovery

Crude oil futures extended gains on energy commodities Wednesday. This came after a bigger-than-expected draw in U.S. crude stockpiles. Solid U.S. and Chinese factory activity fired up optimism of a recovery from the pandemic, boosting investor risk appetite. Brent crude (LCOc1) futures were up 45 cents to $46.03 a barrel as of 0559 GMT.  It’s …

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The oil pump

Brent Oil Hits 5-month High on Abu Dhabi Supply Cuts

Oil was up in Commodities on Monday, with Brent hitting the highest in five months. It was underpinned by a 30% cut in Abu Dhabi crude supplies.  This encourages Chinese data even as global demand struggles to return to pre-COVID levels in a well supplied market. Brent crude futures for November (LCOc1) advanced to $46.50 …

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