If there were an indicator which, over the past 175 years, has signaled that “something big is about to happen” every time it breaks below a certain level—but this time it has fallen to an all‑time lo
ING’s Warren Patterson and Ewa Manthey say China’s latest trade data for Copper are mixed, with higher unwrought Copper imports in May but lower year-to-date volumes due to stronger domestic refined output.
Rabobank’s Global Strategist Michael Every highlights that Oil prices fell as the United States (US) energy secretary reported rising Hormuz transits, with evidence the US Navy may be moving more crude through the Strait than official data show.
Silver price (XAG/USD) rebounds to near $65.00 in the European trading session on Wednesday after attracting bids at around over the two-month low of $63.45 earlier in the day.
ING analysts Warren Patterson and Ewa Manthey note that WTI and Brent fell sharply but see upside for Oil prices as US–Iran tensions persist and no peace deal is in sight.
Iran's Foreign Minister Abbas Araghchi warned that its neighbours in the Gulf have a “legal and moral responsibility” to prevent American and Israeli strikes, the Guardian reported on Wednesday.
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – struggles to capitalize on a modest Asian session uptick and currently trades just below mid-$87.00s, nearly unchanged for the day.
Silver (XAG/USD) attracts some follow-through sellers for the second consecutive day and drops to its lowest level since March 23 during the Asian session on Wednesday.
Iran's Foreign Minister Abbas Araghchi warned the United States (US) to leave the region or face consequences, adding that Iran's armed forces would not leave any attack or threat unanswered.
Gold price (XAU/USD) attracts some sellers to around $4,235, the lowest since March 23, during the early Asian session on Wednesday. The precious metal extends its downside on renewed tensions in the Middle East and rising expectations of a US interest rate hike this year.
Trump announced on Tuesday that his military had concluded Iran shot down one of its Apache helicopters over the Strait of Hormuz during the overnight session, and that the US had no choice but to respond. Crude Oil's reaction was to fall.
Gold (XAU/USD) price plunges nearly 2% on Tuesday as tensions in the Middle East escalate afterUS President Donald Trump vowed a response to Iran's downing of a US helicopter near the Strait of Hormuz. At the time of writing, XAU/USD trades below $4,250, down 1.93% on the day.
Silver (XAG/USD) tumbles more than 3.5% on Tuesday as price action remains driven by rapidly changing headlines surrounding the Middle East war. At the time of writing, XAG/USD is trading around $65.50, its lowest level since March 23.
China’s central bank, one of the major Gold purchasers worldwide, continued to add the precious metal to its vaults in April, in a sign that demand from sovereigns remains high.
Tradingkey - On June 9, media reports cited White House officials stating that negotiations on the nuclear issue are achieving positive results. Impacted by this news, the two major crude oil futures
Gold (XAU/USD) shows signs of stabilization on Tuesday, supported by a softer US Dollar (USD) and lower Oil prices as signs of de-escalation in the Middle East war improve market sentiment.
Gold (XAU/USD) trades flat on Tuesday, near two-and-a-half-month lows at $4,268, with upside attempts capped below $4,360 so far.
Poland’s central bank was the top Gold buyer in April among its peers, consolidating its position as one of the world’s most active sovereigns that accumulate the precious metal.
Silver prices (XAG/USD) broadly unchanged on Tuesday, according to FXStreet data. Silver trades at $68.23 per troy ounce, broadly unchanged 0.08% from the $68.17 it cost on Monday.
West Texas Intermediate (WTI), futures on NYMEX, is down 1.8% to near $88.10 during the European trading session on Tuesday, and over 6% lower from Monday’s high of around $93.50.
Rabobank’s Global Strategist Michael Every notes that Oil prices were little changed after another sharp Middle East escalation involving Israel and Iran, as markets reverted to an ‘as you were’ stance.
OCBC’s FX Strategist Sim Moh Siong reports that Gold has come under pressure after breaking below its 200-day moving average on a more hawkish Fed narrative and oil-led inflation fears.
TradingKey - On Monday ET, U.S. President Trump made a major statement during a telephone campaign event for South Carolina Senator Lindsey Graham, claiming that the U.S. will achieve a "complete vict
Silver price (XAG/USD) trades marginally lower at around $67.90 during the European trading session on Tuesday. The white metal faces slight selling pressure as investors turn cautious ahead of the United States (US) Consumer Price Index (CPI) data for May, which will be published on Wednesday.
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – extends the previous day's sharp retracement slide from the vicinity of mid-$93.00s and attracts some follow-through selling during the Asian session on Tuesday.
Gold (XAU/USD) struggles to capitalize on the previous day's late recovery from the $4,267-$4,268 region, or the lowest level since March 23, and oscillates in a narrow band during the Asian session on Tuesday.
Israeli Prime Minister Benjamin Netanyahu said the war against Iran and its Lebanon-based proxy Hezbollah “has not yet ended,” though he insisted both are weaker than ever, CNBC reported on Monday.
Gold price (XAU/USD) trades with mild losses around $4,325 during the early Asian session on Tuesday. The precious metal remains on the defensive near its lowest since March 24 amid uncertainty in the Middle East and rising bets of a US interest rate hike.
Gold (XAU/USD) price is virtually unchanged on Monday as market mood improves due to Iran-Israel halting attacks, even though last Friday’s Nonfarm Payroll figures showed the solidness of the labor market, clearing the way for the Federal Reserve (Fed) to focus on inflation.