Global shares fell, and the dollar rose ahead of testimony from Federal Reserve Chairman Jerome Powell, who is expected to offer an outlook for US rates, while weak Chinese trade data further weighed on oil and copper. Statistics demonstrated a steep decrease in both China’s exports and imports in the first two months of the …
Global shares fall as dollar rises ahead of Fed Powell’s testimony Read More »
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Gold prices increased marginally on Friday. However, they should have concluded the week down as hawkish remarks from Federal Reserve officials raised the dollar’s chances of more interest rate increases and hurt copper due to worries about the growing COVID-19 cases in China. After rocketing to a close to a three-month high earlier this week, …
What Is Happening in The Market of Gold and Metals? Read More »
Commodity costs have soared to a staggering start to the month, with their largest back-to-back weekly increases since 1960. Twenty-seven commodities, ranging from metals to energy to agriculture, have recorded spectacular double-digit single-day gains this quarter, outperforming every asset class. Commodities are commonly experiencing 10% or more in back-to-back gains virtually every week, which we …
The copper markets anticipated quarterly output numbers from some of the biggest miners in the world, coming later this week. Meanwhile, gold prices edged up on Monday but remained capped below critical support levels as investors worried about additional interest rate hikes by the Federal Reserve. According to statistics, inflation in the United States is …
Following a remarkable recovery from multi-year lows, gold prices slightly declined on Thursday as investors remained cautious of a further rise in the currency and Treasury rates. By 19:35 ET, spot gold prices were down 0.3% to $1,655.86 per ounce, while gold futures were down 0.3% to $1,664.35 per ounce (23:35 GMT). On Wednesday, both …
Commodities tumbled from record highs as investors reversed bullish bets on everything from corn to copper to oil amid recent signs of recession fears sweeping financial markets. Brent crude fell below $100 a barrel on Thursday for the first time since April, 29% below its recent high. Other markets were also hit hard, with the …
Commodity Market Overview: Will Oil Prices Keep Surging? Read More »
On Tuesday, copper prices traded to a three-month low as the COVID-19 restrictions in top consumer China fueled worries about weaker growth, hitting metals demand. Its benchmark futures on the London Metal Exchange declined 2.58% or 252.00 points to $9,517.50 per ton. This downward movement marks the lowest level since January 31. The recent weak …
Copper dwindles to a 3-month low on demand jitters Read More »
On Wednesday, copper prices stepped lower after the International Monetary Fund (IMF) slashed its forecast for global economic growth. The most active US futures tied to the metal dwindled 1.21% or 0.05 points to $4.66 per metric ton. It trailed a drop of 1.75% to $4.72 per share in the previous trading session. The financial …
Copper declines on lower global economic outlook Read More »
On Thursday, metal prices extended their rally as global stockpiles remained low amid Russia’s increasing economic isolation. Accordingly, aluminum prices significantly hiked 4.60%, or 160.00 points, to a high of $3,638.00 per tonne. Then, US copper futures rose 1.90% or 0.08 points to $4.76 per pound, hovering around a record territory. Similarly, contracts linked to …
Metal Prices Extend Surge on Low Global Stockpiles Read More »
Copper prices advanced to rally towards record highs on Monday as hints of highly tight supply exceeded concern that slowing growth in top consumer China will influence demand. Traders were paying enormous premiums for quickly deliverable copper following stockpiles in the London Metal Exchange’s (LME) warehouse system tumbled to their weakest level in decades. Benchmark LME copper …
Forex weekly overview Global markets had some significant ups and downs this week. In This article, we will summarize some major highlights in Forex, Crypto, Stocks, and Commodity markets that occurred this week. Let’s start with the forex market. USD had some great updates this week. The U.S. dollar hit a nine-month high against major …
Weekly market updates: Forex Stocks Crypto Commodities Read More »
Although the coronavirus pandemic has been raging for more than two years, and there is a vaccine to fight it, it still manages to damage the country’s economy. What are the latest data and expert assessments of current events? What else can we expect from the Covid 19 pandemic, and when will the situation stabilize? …
Dow Futures Are Reduced by 200 Points – Causes and Solution Read More »
A tightening global copper market faces the real chance of simultaneous strike severance at three mines in Chile, the largest metal producer. Until now, the most severe threat to world supplies arises from Escondida, the largest copper mine in the world, where workers refused proprietor BHP Group’s final wage offer in voting last week. Except …
Oil was falling Wednesday morning in Asia, with investors considering a surprise build in U.S. crude oil supplies and proceeding to evaluate the impact of rising coronavirus cases on fuel demand. Brent oil futures were declining by0.46% to $69.03 by 1:38 AM ET (5:38 AM GMT), and WTI futures dropped approximately 0.51% to $66.86. U.S. …
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