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 …
Soybean Reaches 2018 Highs, Wheat Awaits Heavy Rains Read More »
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. …
Saudi King Eager to Reach Fair Solution to Palestinian Issue Read More »
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 …
Gold Prices Perk Up after Stock Selloff | Wibest Broker Read More »
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 …
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 …
Oil Gains on US Stock Draw & Hopes on Economic Recovery Read More »
Gold futures rose to around a two-week peak in commodities on Tuesday, aided by weakness in the U.S. dollar. The currency fell to its lowest level in about two years. The Federal Reserve’s decision has weakened the dollar. The Fed has decided to alter its monetary policy framework. This was to allow for inflation to …
Gold Prices Rise as Dollar Slumps | Wibest Broker Read More »
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 …
Brent Oil Hits 5-month High on Abu Dhabi Supply Cuts Read More »
Gold was up in commodities on Friday morning, due to the U.S. Federal Reserve’s new monetary policy. However, overshadowing this positive, there was data suggesting a COVID-19-induced economic slump. Gold futures were up 0.80% at $1,948. Fed Chairman Jerome Powell unveiled the central bank’s new monetary policy strategy. This was during his speech at the …
Gold’s Gains From Powell Speech Capped by Virus Worries Read More »
Crude oil prices fell moderately in early trading in New York on Thursday. It appeared that Hurricane Laura would pass through Texas and Louisiana without lasting disruption to the region’s refineries and pipelines. By 9:15 AM ET (1315 GMT), U.S. crude futures were down 0.3%, at $43.23 a barrel. The international benchmark Brent contract fell …
Oil Prices Fall as Hurricane Spares Gulf Refineries Read More »
Oil and gasoline futures pulled back on Wednesday. This was a day after hitting five-month highs in commodities. Hurricane Laura forced the shutdown of most of the Gulf of Mexico crude output. Traders thus awaited the latest figures on U.S. petroleum inventories. West Texas Intermediate crude for October delivery CL.1, -0.46% CLV20, -0.46% dropped 18 …
Oil Prices Slide as Hurricane Churns in Gulf of Mexico Read More »
Investors of commodities were watching for the latest update on Federal Reserve policy from a speech by Chairman Jerome Powell. This will be on the first days of the annual Jackson Hole central banker conference on Thursday. It could influence trade for precious metals. U.S. and Chinese officials seem to reaffirm their commitment to an …
Gold Prices Slip on Day 2 as China-U.S. Trade Tensions Ease Read More »
Gold futures on Monday were headed higher in commodities to start the week, even as global equity markets were seeing sharp gains. Commodity experts attribute some of the buying in bullion to opportunistic investing. This was after the metal registered its first back-to-back weekly loss since March on Friday. Jim Wyckoff, senior analyst at Kitco …
Gold & Silver Prices Up on ‘Bargain Hunting | Wibest Broker Read More »
At the beginning of August, the spot price of gold reached another all-time high. Since the 1930s, the US dollar has lost 99% of its value against the precious metal. A world reserve currency is supposed to be higher at storing value. However, even through unlimited money printing, the US dollar has been unable to …
Oil prices escalated to a five-month high on Thursday in response to warnings from the US Federal Reserve on oil demand recovery. The price of oil trading in the New York market fell by one percent and reached $42 per barrel following the widespread fall of stock markets. The US Federal Reserve released a report …
Oil prices dropped after the Fed statement’s release Read More »
Last July, gold surpassed its record price, set at $1,921 an ounce in 2011. Since then, it has continued to rise and has suffered a correction, keeping it above that record for nine years. The question everyone is asking now is whether the price will continue to increase or fall. Sebastian Bowen explains in the …
Factors that will allow the price of gold to continue rising Read More »
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