Gold price slides below $4,000 for the first time since mid-October, hitting a daily low of $3,971 as risk appetite improved due to easing tensions between the US and China in regard to the trade war.
West Texas Intermediate (WTI) US Oil trades around $61.70 on Monday at the time of writing, up 0.65% on the day.
Quant funds are driving near-term crude price moves, with CTA buying and WTI short covering likely to fuel continued upside in Brent despite minimal disruption from recent Russian sanctions, TDS' Senior Commodity Strategist Daniel Ghali notes.
After a record wave of free-floating Silver flooded London vaults, prices are set to retreat, with speculation and cooling Indian demand likely driving Silver back toward $40/oz, TDS' Senior Commodity Strategist Daniel Ghali notes.
Gold (XAU/USD) kicks off the week with a negative tone, as improved risk appetite curbed demand for safe-haven assets.
Gold remains on its back foot on Monday amid moderate risk appetite, amid market hopes of a trade deal between the US and China.
Silver prices (XAG/USD) fell on Monday, according to FXStreet data.
Oil prices are trimming some gains on Monday, as Iraq's oil minister reported a record Crude exports, beyond 102 million barrels in September, and announced negotiations about the size of its quota with OPEC. The US benchmark West Texas Intermediate has hit session lows just below $61.00, but is ho
West Texas Intermediate (WTI) Oil price advances on Monday, early in the European session. WTI trades at $61.57 per barrel, up from Friday’s close at $61.29.Brent Oil Exchange Rate (Brent crude) is stable, hovering around its previous daily close at $65.17.
Gold prices fell in India on Monday, according to data compiled by FXStreet.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $61.45 during the Asian trading hours on Monday. The WTI edges higher as progress between the US and China on trade talks boosts the outlook for oil demand.
Gold price erases earlier losses, rises over 0.10% on Friday following the release of the September inflation report in the US, which showed that prices climbed but would not deter the Federal Reserve (Fed) from cutting rates next week.
Silver (XAG/USD) eases on Friday, trading around $48.85 per troy ounce at the time of writing, down 0.10% for the day, as the market consolidates below the psychological $49 level.
The oversupply on the Oil market had put significant pressure on the prices of Brent forward contracts with short-term maturities in recent weeks: the backwardation that was still pronounced just a month ago has decreased noticeably, Commerzbank's commodity analysts Barbara Lambrecht and Carsten Fri
So far, however, Russia still seems to be finding buyers for its Oil, Commerzbank's commodity analyst Carsten Fritsch notes.
The US and India are reportedly close to reaching a trade agreement that would see a gradual reduction in Indian Oil imports from Russia, Commerzbank's commodity analyst Carsten Fritsch notes.
Gold drew attention during LME Week, with prices up by around 60% this year. The rally has been driven by uncertainties over global trade, heightened geopolitical tensions, US fiscal stability and the Fed’s independence.
The mood on metals has been positive in recent weeks, with Copper trading near all-time highs and other metals also rising. A supportive macro backdrop, falling US dollar, rate cuts and low inventories have lifted metals prices, ING's commodity expert Ewa Manthey notes.
Gold (XAU/USD) trades on the back foot on Friday, as sellers remain firmly in control following a sharp pullback from record highs earlier this week.
Silver prices (XAG/USD) fell on Friday, according to FXStreet data.
Gold (XAU/USD) retreats on Friday, trading around $4,050 per ounce at the time of writing, down 1.75% for the day, as renewed demand for the US Dollar (USD) and profit-taking weigh on the yellow metal.
Crude prices’ pullback from two-week highs at $62.00 witnessed on Thursday remains contained above $61.00 so far, with the commodity on track to its sharpest weekly rally in four months, as new sanctions on Russian Oil have eased market concerns about an Oil glut.
West Texas Intermediate (WTI) Oil price falls on Friday, early in the European session. WTI trades at $61.33 per barrel, down from Thursday’s close at $61.60.Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $65.04 after its previous daily close at $65.29.
Gold prices fell in India on Friday, according to data compiled by FXStreet.
West Texas Intermediate (WTI) surges on Thursday, extending its rally for the third consecutive day after the United States (US) imposes sanctions on Russian energy majors Rosneft and Lukoil, stoking supply concerns.
Gold price recovers some ground on Thursday after posting back-to-back bearish daily candles, courtesy of traders booking profits ahead of the release of September’s US inflation report, along with a slight tempering of US President Donald Trump's trade rhetoric on China.
Gold (XAU/USD) fluctuates within a tight range on Thursday, consolidating after a sharp correction from historic highs.
Silver (XAG/USD) advances firmly on Thursday, trading around $49.20 per ounce at the time of writing, up 1.40% for the day.
Silver price (XAG/USD) rebounds to near $49.20 during the European trading session on Thursday after attracting bids near $48.00. The white metal gains on renewed trade tensions between the United States (US) and China.