Gold moved to its highest level since 2012, fueled by concerns about the second wave of the coronavirus infections in the United States and Germany. In other news, the release of details about a proposed national security law from China caused a growing uncertainty in Hong Kong. Coronavirus cases increased in the United States, a …
Unstoppable gold in the face of new Covid-19 infections Read More »
The International Energy Agency (IEA) has revised its forecast upwards for world oil demand in 2020. It estimates an average of 91.2 million barrels per day, representing a drop of 8.6% compared to 2019. This is the most significant drop in history. However, compared to the previous forecast, it’s an improvement of 690,000 barrels a …
The IEA ups its forecast for oil – the worst is over Read More »
Switzerland exported 126.6 tons of gold to the United States, worth around $7 billion, last May. It is the highest monthly shipment ever recorded. This is because the high prices in New York continued to attract demand for the metal. Swiss shipments to China and India, generally the world’s two largest gold buyers, stayed very …
Switzerland exports a record amount of gold to the US Read More »
Silver will drop in price in the short term, according to Georgette Boele, a well known Dutch analyst of the precious metal market at FXStreet. Specifically, the precious metal’s prices will drop in a short time. However, in the very long run, it is possible for the rise in the price of the metal to …
The price of silver will exceed that of gold in the long run Read More »
Gold was operating relatively flat on Tuesday after having overcome several bearish attempts. The publication of good data on US retail sales and progress towards a vaccine against COVID-19 has harmed market sentiment. Beijing officials also reported new coronavirus cases. The United States government reported an increase in retail sales of 17.7% in May, well …
Gold Maintains Positions Despite Dollar Recovery Read More »
Copper prices rose on Tuesday after Federal Reserve announcements. More support towards the US economy helped boost copper market sentiment. However, there are doubts about this development since the chances of demand in China are not high. Three-month copper values on the London Metal Exchange (LME) gained 1.5% at $5,790 a tonne. Values for the …
Copper rises, Fed stimulus unleashes buying wave Read More »
Oil futures prices decreased by 8% last week. After settling on mixed prices on Friday, oil prices ended a six-week rally. It is a sign that the market may finally start paying attention to record stocks of crude oil and products like diesel in the US. It is an issue that hedge funds and other …
Copper prices increased for the fifth straight session on Wednesday, to their highest levels since January. Steady demand and a better technical scenario supported the metal. Over three 3 months, copper, on the London Metal Exchange (LME), gained 2.1% at $5,893 a tonne, after earlier climbing to $5,913.50, its highest since January 24. Ole Hansen, …
Gold prices reacted, increasing, due to the Federal Reserve‘s decision not to raise interest rates until 2022. This means the interest rate will remain at its current state, around zero. Low prices are usually favorable for gold because they reduce the returns on other financial assets with which it competes in favor of investors, such …
Gold surges on Fed decision to keep rates at zero until 2022 Read More »
Gold registered some gains on Tuesday since global stock indexes paused recent rallies. On the other hand, a weakened US dollar is supporting gold bulls. August gold futures increased by $15.90 an ounce to $1,720.70. US stock indexes are getting some pull-backs from recent substantial benefits. The investor and trader sentiment remains positive. According to …
Gold gains as the Federal Reserve starts June’s FOMC meeting Read More »
The price of gold experienced a drop below the support level established around $1,700. All in all, in a broader macroeconomic picture, this pullback may seem momentary. Gold closed the week at $1,685.53. The price of the precious metal touched its lowest low in the last four weeks, falling to $1,677.93. It translates to a …
Gold price at its lowest as a buying opportunity? Read More »
Members of the Organization of the Petroleum Exporting Countries (OPEC) and its allies have extended their previous agreement to cut oil prices by 7.9 million BPD for another month until the end of July. OPEC Plus has called on countries, such as Nigeria and Iraq, to cut production from July to September to offset the …
OPEC and its allies have extended their previous oil deal Read More »
OPEC and its allies intend to meet on June 6 at 12:00 GMT via a webinar. The intention is to finalize the terms of extending 9.7 million b/d production cuts through July. Russia and nine other allies will join the meeting at 14:00 GMT. A delegate-level OPEC+ technical committee, co-chaired by Saudi Arabia and Russia, …
OPEC is holding a meeting on oil production cuts tomorrow Read More »
The spot gold price plunged into free fall on Wednesday’s session. This is after it was hit by lower risk aversion amid widespread gains from the world’s leading stock indexes. In this context, the price of XAU / USD plummeted by more than 1.6%. Gold settled close to $1,700 an ounce, its lowest level since …
Gold’s price falls as S&P 500 strengthens above 3,100 points Read More »
Analysts forecast that the importance of silver in the energy industry will increase in the coming years. By 2050, they estimate that more than 50% of the demand for this metal will go to power generation. Silver is a precious metal with physical properties that make it suitable as a raw material for many industries, …
Silver consumption in energy will be halved in 2050 Read More »
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