News

18 consecutive months and running: China’s central bank extends Gold-buying spree

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.

Source  Fxstreet1781024400
Iran Nuclear Talks Reported to Make Positive Progress. Two Major Crude Oil Futures Plunge, Erasing Gains From Nearly the Past Two Weeks

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

Source  Tradingkey1781014037
Gold holds steady as traders weigh Middle East optimism against hawkish Fed outlook

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.

Source  Fxstreet1781008093
Gold Price Forecast: XAU/USD holds losses below $4,360 despite a softer USD

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.

Source  Fxstreet1781005545
Neither China nor India: This is the country’s central bank that has bought more Gold this year

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.

Source  Fxstreet1781001700
Silver price today: Silver rises, according to FXStreet data

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.

Source  Fxstreet1780997413
WTI Price Forecast: Slides further to near $88 as Trump sees deal with Iran soon

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.

Source  Fxstreet1780994623
Oil: War-risk pricing holds steady – Rabobank

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.

Source  Fxstreet1780993104
Gold: Uptrend delayed on hawkish Fed repricing – OCBC

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.

Source  Fxstreet1780990998
Trump Says "Total Victory Over Iran" in Two Weeks, Oil Prices to Slump, JPMorgan Warns Crude Inventories Face Shortage in June

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

Source  Tradingkey1780990678
Silver Price Forecast: XAG/USD trades with caution around $68 as US CPI takes centre stage

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.

Source  Fxstreet1780983896
WTI Price Forecast: Sticks to losses below $89.00; bearish setup backs further weakness

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.

Source  Fxstreet1780979727
Gold holds steady as hawkish Fed bets counter Israel-Iran truce and weaker USD

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.

Source  Fxstreet1780977268
Israel’s Netanyahu says war with Iran, Hezbollah isn’t over after Tehran says it’s halting strikes

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.

Source  Fxstreet1780961473
Gold edges lower below $4,350 as Fed rate hike expectations grow

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. 

Source  Fxstreet1780960573
Gold holds flat as US CPI risk offsets ceasefire optimism

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.

Source  Fxstreet1780949567
Silver Price Forecast: XAG/USD hovers near 200-day SMA, downside risks persist

Silver (XAG/USD) trades modestly higher on Monday after falling nearly 8% on Friday in the wake of a stronger-than-expected US Nonfarm Payrolls (NFP) report, which reinforced expectations that the Federal Reserve (Fed) will keep interest rates higher for longer.

Source  Fxstreet1780939561
WTI Oil climbs as Israel-Iran, Houthi tensions eclipse OPEC+ output hike

West Texas Intermediate (WTI) US Oil trades around $89.95 at the time of writing on Monday, up 1.57% on the day, as geopolitical tensions in the Middle East continue to support energy prices.

Source  Fxstreet1780938433
Why Oil Prices Retreated After Surging? Volatile Iran-Israel Situation, WTI Crude Eyes $97 Resistance

TradingKey - Oil prices spiked earlier today (June 8) following renewed clashes between Iran and Israel, before paring some gains after Iran announced an end to its military operations against Israel

Source  Tradingkey1780924926
Gold steadies after hitting two-and-a-half-month low, hawkish Fed outlook caps gains

Gold (XAU/USD) recovers some ground on Monday after sliding to its lowest level since March, as traders assess fresh geopolitical developments in the Middle East. However, hawkish Federal Reserve (Fed) expectations continue to cap the upside.

Source  Fxstreet1780921138
Oil: Supply risks and cautious OPEC+ hike – BNY

BNY's Bob Savage reports that Brent and WTI surged around 4–5% as Iran–Israel missile exchanges raised fears of supply disruption and higher global inflation.

Source  Fxstreet1780920161
Gold Price Forecast: XAU/USD hits over two-month low under $4,300 as US yields rally

Gold (XAU/USD) extends losses on Monday to complete a more than 4% depreciation in the last two trading days.

Source  Fxstreet1780917444
Why Is Gold Plunging? Gold Prices Fall Below $4,300, Strong Nonfarm Payrolls and Rising Oil Prices Open Downside Space

TradingKey - During the European session on June 8, gold ( XAUUSD) extended its downward trend, falling below $4,300 at one point during the day and hitting a low of $4,268.53. Technical analysis indi

Source  Tradingkey1780916637
Silver price today: Silver falls, according to FXStreet data

Silver prices (XAG/USD) fell on Monday, according to FXStreet data. Silver trades at $67.02 per troy ounce, down 1.21% from the $67.84 it cost on Friday.

Source  Fxstreet1780911070
Oil: Price jumps on Iran conflict escalation – Danske Bank

Danske Research Team notes that Brent Oil has surged toward USD 96 per barrel after renewed Israel–Iran hostilities, with markets reassessing regional supply risks. They highlight that the latest air strikes have undermined hopes for a broader deal to reopen the Strait of Hormuz.

Source  Fxstreet1780910341
WTI Oil holds near $92.50 as tensions flare up in the Middle East

Crude prices have jumped by more than $4 on Monday, with the US benchmark West Texas Intermediate (WTI) barrel trading at $92.52 at the time of writing, as tensions between Israel and Iran flare, adding new strains to an already fragile ceasefire in the area.

Source  Fxstreet1780906429
Oil: Muted spike masks tighter balance – Societe Generale

Societe Generale’s Michael Haigh and Jeremy Sellem argue that Oil has underperformed historical shocks despite a 14% loss in global crude supply.

Source  Fxstreet1780901440
Silver Price Forecast: XAG/USD extends decline to near $66.50 as bond yields rise further

Silver price (XAG/USD) extends its decline to near $66.50 during the late Asian trading session on Monday, the lowest level seen in over two months.

Source  Fxstreet1780898009
Iran's ambassador to Moscow: the Strait of Hormuz will be open but with transit fees

Iran's ambassador to Moscow, Kazem Jalali, said that the Strait of Hormuz will be open but under new conditions to be set by Iran and Oman, including a transit fee, Reuters reported on Monday.

Source  Fxstreet1780894683
WTI Price Forecast: Sticks to gains near $92.00; 200-SMA on H4 holds the key for bulls

West Texas Intermediate (WTI) – the benchmark US Crude Oil price – gains strong positive traction at the start of a new week as renewed hostilities in the Gulf dampen hopes for a deal to end a three-month-old war.

Source  Fxstreet1780893866
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