In addition to tensions between the US and China, dovish comments from the Fed also supported the Gold price this week, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.
Gold rose to another record high with spot prices reaching intraday highs of $4,242/oz this morning, driven by rising US-China tensions and expectations of two more Fed rate cuts this year, ING's commodity experts Ewa Manthey and Warren Patterson note.
West Texas Intermediate (WTI) Oil price falls on Tuesday, early in the European session. WTI trades at $58.75 per barrel, down from Monday’s close at $59.20.Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $62.73 after its previous daily close at $63.16.