West Texas Intermediate (WTI) trades near $98.00, about 1.4% higher on the day. It was more than 4% higher shortly after 12:30 GMT and had given nearly all of that back by 19:00.
Silver price resumes its downtrend, keeping the head-and-shoulders pattern alive, as the white metal struggles to clear the neckline in the $64.10-$64.20 range, increasing the chances of further losses. The XAG/USD trades at $63.60, down over 1.50%.
Gold (XAU/USD) begins the week on the wrong foot, down some 0.85% on Monday after reaching a one-month low of $4,253, in a week that will feature the Federal Open Market Committee (FOMC) monetary policy decision. At the time of writing, XAU/USD trades at $4,310.
TD Securities strategists Ryan McKay and Bart Melek note that CTAs remain maximally long WTI Crude, Brent Crude, diesel and gasoline as attacks on energy infrastructure in Saudi Arabia and Russia sustain a significant upside risk premium.
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TD Securities’ Ryan McKay and Bart Melek highlight that CTAs (Commodity Trading Advisors) have turned large sellers of Gold, liquidating nearly half of their net-long exposure as markets price a Federal Reserve hike and higher energy costs.
OCBC strategist Christopher Wong says oil risks have risen again as disruptions to Saudi export infrastructure and renewed concerns around the Strait of Hormuz and Bab el-Mandeb keep supply risks elevated.
Gold (XAU/USD) kicks off the week on a bearish note as Federal Reserve (Fed) interest rate hike expectations dominate market sentiment ahead of the two-day monetary policy meeting starting on Tuesday.
Brent Oil gains on Monday and trades around $104.20 at the time of writing, up 2.49% on the day. Oil prices benefit from a renewed geopolitical risk premium as tensions in the Middle East revive concerns over potential disruptions to energy supplies.
West Texas Intermediate (WTI), futures on NYMEX, extends its opening gains in the European trading session on Monday, trading almost 3% higher slightly above $99.50.
Silver prices (XAG/USD) fell on Monday, according to FXStreet data. Silver trades at $63.22 per troy ounce, down 2.14% from the $64.60 it cost on Friday.
OCBC strategist Christopher Wong reports Gold rebounded after United States (US) Consumer Price Index (CPI) as 10-year US yields and Oil eased, reducing inflation pressure on bullion.
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – kicks off the new week on a positive note, reversing a part of Friday's retracement slide from its highest level since May 21.
Gold prices fell in India on Monday, according to data compiled by FXStreet.
Silver (XAG/USD) kicks off the new week on a subdued note and oscillates in a narrow band above the $64.00 mark through the Asian session as traders seem hesitant to place directional bets ahead of key central bank event risks.
Gold price (XAU/USD) loses ground to near $4,340 during the early Asian trading hours on Monday. The precious metal remains under selling pressure as hotter-than-expected US inflation data raised prospects that the Federal Reserve (Fed) will hike interest rates later this week.
West Texas Intermediate (WTI) oil price rebounds after falling nearly 4% in the previous trading day, hovering around $99.40 per barrel during Asian hours on Monday.
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West Texas Intermediate (WTI) trades near $97.00, about 3.4% lower and on track for its first down session in five.
Silver price registers gains of over 1%, yet it is trading below the ‘head and shoulders’ neckline, an indication that the overall trend in the short-term may be tilted to the downside. The XAG/USD trades at $64.24, after bouncing off daily lows of $62.94.
Gold (XAU/USD) price bounces off daily lows beneath $4,300 on Friday and reclaims the 100-day Simple Moving Average (SMA) of $4,335 following the release of US inflation data, which fueled speculation that a Federal Reserve (Fed) rate hike next week is almost certain.
Bitcoin (BTC) is gaining ground and approaching $79,000 on Friday, following the release of the United States (US) inflation data.
Silver (XAG/USD) rebounds sharply on Friday, trading around $64.30 at the time of writing, up 1.13% on the day. The white metal recovers after briefly falling to a three-week low of $62.94 in the immediate reaction to the latest United States (US) inflation figures.
West Texas Intermediate (WTI) Oil comes under heavy selling pressure on Friday as traders lock in profits following a sharp rally that pushed the US benchmark to its highest level since May 21. At the time of writing, WTI trades around $96.50, down roughly 4% on the day.
Commerzbank strategists argue that Brent crude should gradually retreat toward pre-war levels as covert tanker “dark transits” and diversions restore Gulf supply.
West Texas Intermediate (WTI) US Oil drops 4.54% on Friday and trades around $96.00 at the time of writing.
BNY’s Geoff Yu highlights that Brent has approached $110 as Houthi advances near the Bab el-Mandeb Strait raise concerns over Red Sea shipping and broader supply chains.
Gold holds firm on Friday as a pullback in US Treasury yields and Oil prices offers some support, although buying interest remains limited ahead of the US Consumer Price Index (CPI) report due at 12:30 GMT.
Gold (XAU/USD) nudges higher on Friday, as the US Dollar’s (USD) recovery stalls ahead of the US Consumer Price Index (CPI) release, due later in the day.