Oil prices dropped on Thursday. WTI futures fell 44 cents to close at US$23.55 a barrel. Brent for July contract lost 26 cents to fix at US$29.46 a barrel. Even though Saudi Aramco raised rates, the market remains overflooded after Saudi Arabia exported record amounts of crude oil in April. According to Standard Chartered Plc …
Oil prices dropped – the market remains oversupplied Read More »
Weekly data on the US economy hasn’t been positive. The depth of the coronavirus crisis influences the country’s economy. In the previous session, gold prices declined by 1%. Today, they faced an increase. The price of an ounce of gold rose 0.33 percent to $1,691 and 35 cents in live trading today. Gold for delivery …
Gold prices rise on new rounds of US unemployment data Read More »
Iron ore futures opened higher today in daytime trading on the Dalian Commodity Exchange (DCE). The most active iron ore contract for September 2020 delivery increased by 8 yuan (approximately $1.13) to open at 615 yuan per tonne. Throughout the coronavirus crisis, iron ore has been holding comfortably above US$80 a tonne. The commodity delivered …
Aurubis, Germany-based Europe’s biggest copper smelter company, won European Union antitrust approval. According to the European Commission, the company acquired on Monday the Belgian-Spanish metal recycling group Metallo. The commission stated that the company would not affect competition in the copper recycling sector negatively. In May 2019, Aurubis agreed to buy Metallo for 380 million …
Rising tensions between the Us and China over the coronavirus weakened risk sentiment. Reuters reported that growing unease at the gulf between asset prices and gloomy economic reality turned investors cautions. Mike Pompeo, the US secretary of the state, said that a significant amount of evidence exists uncovering that the coronavirus developed from a Chinese …
US-China tensions affect Gold; Traders remain cautious Read More »
After having had its best month in years, gold was trading lower on the last day of April. Traders traded at the typical profit-taking before the end of the month, so further declines could well be expected. Jim Wyckoff, a senior analyst at Kitco, stated that economic data hadn’t reflected the true scale of the …
Gold closed on its best month in almost four years Read More »
The benchmark barrel price in the United States rose more than 26% this Wednesday. The day after it collapsed after a major US oil fund sold short-term black gold contracts. WTI gained 29% to $16 a barrel in e-commerce. It fell more than 21% on Tuesday after the US fund United States Oil Fund (USO) …
US oil rose while European stocks register slight gains Read More »
Gold is trading lower on Tuesday after investors have decided to ignore the poor economic performance during the day. They have opted for optimism before reopening several regional economies around the world. Besides, the metal is awaiting events starting tomorrow with the arrival of the central banks of the United States and the eurozone. Within …
Gold struggles to keep 1,700 due to optimism in the market Read More »
China’s largest lender, the Industrial and Commercial Bank of China, halted sales of more products that let retail investors speculate on fluctuations in commodities after the unprecedented crash in crude oil burnt many. The lender will temporarily suspend the opening of new positions in products linked to crude oil, soybeans, and natural gas. The bank …
China’s Biggest Bank Suspends Retail Products in Commodities Read More »
The global financial markets have been calm, which allowed most commodities to close the session with gains. The weakened dollar index approved an increase in the price of raw materials. Notably, the weakening of the US dollar increases the demand for commodities. It makes them more accessible to investors who hold another currency. Economic activity …
Industrial metals benefited from the weakening US dollar Read More »
Gold was trading higher on Thursday. After two days of gains, the metal is already trading at highs since April 14. Speculation that central banks will insert more money into the economy is causing the dollar to drop in price and is giving investors more liquidity to buy safe assets. In this framework, the main …
Gold accelerates and already operates at highs from April 14 Read More »
The dollar slumped against the currencies of oil producers. After an unprecedented collapse in crude prices, a rebound helped calm markets weakened by the massive drop in global demand. The euro held strong against the dollar and the pound. The leaders of the European Union are meeting on the response to the economic turbulence caused …
The price of WTI oil turned positive on Tuesday and settled at $10.01 per barrel. Since January, the cost of West Texas Intermediate oil has dropped 84%. Trading was light, and most of the investors were looking ahead to June. However, the delivery rate of WTI crude for June also plunged. It closed at $11.57 …
WTI crude oil turned positive: closing at $10 a barrel Read More »
On Monday, the WTI oil contracts for May the delivery dropped to negative rates during an unprecedented excess in supply. Crude futures closed at -$37 per barrel. The US President, Donald Trump, responded to it with plans to fill the spare space in the Strategic Petroleum Reserve. He mentioned that he would consider halting shipments …
WTI crude oil contracts’ prices point to global crisis Read More »
The prices of the oil marched with ups and downs, with a barrel of Brent selling at $ 27. West Texas Intermediate (WTI), the American benchmark, closed at $ 19. The Brent lost 21 cents (0.76 %) compared to the previous close of 27.69 a barrel. Meanwhile, US crude WTI for May deliveries, at 08:00 …
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