Commodities News, Page

  • Gold Prices Crash Lower on Dollar Strength

    The gold prices have fallen through towards the support region at 1280 after briefly threatening to break through higher on the back of increased global risks and also the threat of a trade war breaking out between some of the major economic powers of the world. It has to be

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  • Oil prices drop on OPEC production cut

    Oil Down Over 4% from Friday’s Open as OPEC Plans to Discuss Production Output in Vienna this Week, Global Stocks Lower

    US Rig counts on Friday showed an increase of 1 to 863 as more US production comes online. The market expects production cuts to be eased adding more supply to the market and putting downward pressure on prices. The meeting is set to be contentious as Saudi Arabia and Russia are said to

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  • bitcoin

    Bitcoin – Are the Bulls About to Resurface?

    Bitcoin slipped by 0.61% on Sunday, partially reversing Saturday’s 1.64% gain, to end the week down 4.57% at $6,449.4.A relatively range bound start to the day saw Bitcoin’s intraday high $6,573 come up short of the day’s first major resistance level at $6,590.47 in the late morning, leading to a

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  • Gold Friday

    Gold Holds Above $1300 Price Handle despite US Greenback’s Strength

    Gold prices on Friday steadied below a one-month high hit in the previous session and were on track for a second straight weekly gain amid concerns over U.S.-China trade dispute. Early morning session saw some sell off activity that resulted in pair testing $1300 handle post hitting high of 1312.90

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  • Gold

    Gold Hits Two Week High On US-China Trade Tensions

    While Fed Rate decision gave U.S Greenback a boost in momentum, the boost faded shortly as reports hit the market that President Trump was preparing to put tariffs on billions of dollars of Chinese goods as soon as Friday which greatly impacted US dollar’s momentum giving dollar bears momentum against

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  • ETH/USd daily chart, June 11, 2018

    Bitcoin – The Sell-off Takes a Break, but May Not be Over

    Bitcoin fell by 3.83% on Wednesday, following Tuesday’s 4.87% fall, to end the day at $6,293.1.Moves through the early part of the morning would have provided some hope to the Bitcoin bulls, following Tuesday’s sell-off, with Bitcoin hitting an intraday high $6,611.7 by mid-morning. A broad based market reversal in

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  • Gold

    Precious Metals Trapped in Short Price Band As Investors Focus on Central Bank Rate Decisions

    Gold (XAUUSD) prices were little changed on Wednesday’s early Asian market hours after falling to one-week lows the session before and is currently trading around $1295.32. The yellow metal is highly sensitive to U.S. interest rates which lift the opportunity cost of holding non-yielding bullion and boost the dollar in

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  • Gold

    Gold under Pressure on Positive Cues from U.S-N.Korean Summit

    Weighing on gold are encouraging signs from U.S. President Donald Trump about favorable proceedings in the summit with North Korean leader Kim Jong Un in Singapore on denuclearization efforts, dimming gold’s safe haven attraction. U.S. inflation expectations were flat in May after several months of gains, while Americans grew more

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  • gold

    Gold Trades Higher as US Greenback Grows Soft

    The market opened predictably quiet ahead of the abundance of risk events this week and wholly ignored President Trump going rogue at the G7 summit. U.S. Federal Reserve’s Federal Open Market Committee (FOMC) starts its two-day meeting on Tuesday, where it is anticipated to raise U.S. interest rates. The European

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  • Gold Chart

    Gold Underpinned by Safe-Haven Buying Ahead of G-7 Conference

    U.S. stocks settled higher across the board on Friday, capping a week of solid gains in all three major stock indexes. However, the upside may have been limited by increasing tensions between the United States and key trade allies at the start of the G-7 conference.In the cash market, the

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  • Gold Trades Flat As Risk Sentiment Spikes

    The US Greenback lost ground to common currency as the later hit 2 weeks high over recent hawkish stance from ECB. Moving forward investors are waiting for meetings of key central banks and the U.S.-North Korea summit all due next week. While gold has been trading in a tight range and

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  • Gold

    Gold Price Goes Up as US Greenback Weakens

    Geopolitical tensions are providing (only) limited support to gold prices. A recovery in the U.S. economy could lead the central bank to have more rate hikes this year, and hence the upward momentum in gold is not that strong in medium to long term. U.S. services sector activity accelerated in

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  • EUR/USD Firms on Report ECB Could Announce Timetable to End Quantitative Easing Program

    The U.S. Dollar settled mixed on Tuesday against individual currencies, but lower against the total basket of currencies as investors sorted through a cluster of domestic reports, and increasing concerns that the United States could pull out of its trade agreement with Canada and Mexico.June U.S. Dollar Index futures settled

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  • Gold

    Gold Remains Flat Above $1290 Price Handle

    The yellow metal has come under pressure from a renewed bid-tone in the value of the U.S. Dollar Index and heightened risk-on trading sentiment, which is helping to underpin equity market buying. Gold is trading largely unchanged around $1,292 but looks weak if we take into account the repeated failure

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  • gold

    Gold Holds Level as Market is Ruled By Trade War Tensions

    Precious metal market is currently ruled by geopolitical and trade war concerns. This week has no major release in macro calendar and traders have taken to observing proceedings of trade wars between major global economies. Lingering concerns about trade wars between the United States and the rest of the world

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  • Commodities

    Brent, WTI Crude Spread Soars to Three-Year High

    Last week was a volatile week in the commodity markets. It wasn’t one directional volatility, however, it was two-sided volatility with traders primarily reacting to the geopolitical events in Italy. Those events, most notably, drove the price action in the Euro and consequently the U.S. Dollar. Since most of the

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  • Gold Friday

    Gold Price Goes Down As Italian Woes Turn Soft

    XAU/USD made another attempt to penetrate the resistance in the 1307.50-1306 area but was unable to break through. Consequently, the market pulled back to the support in 1297/6. Prices have been trapped in a relatively narrow range of 1301 to 1310 for majority of North American session on Thursday and

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  • gold xau

    Gold Prices Struggle to Move Higher

    The conditions in the market have been favorable for gold prices to shoot higher and it is indeed a surprise and a measure of selling in the region that we are seeing the Bulls struggling to take control of the market. We have seen a lot of uncertainty and confusion

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    Euro’s Recovery Helps Boost Appetite for Higher Risk Commodities

    The Euro is holding on to the strong gains it posted on Wednesday as traders express optimism that Italian leaders could move to mitigate political turbulence and avoid a potentially disruptive early election. The move helped pressure the U.S. Dollar against a basket of currencies because while driving up demand

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  • Gold

    Gold Struggles to Stay Above $1300 Despite Spike In Demand From Italian Crisis

    The XAUUSD pair has been moving range bound near the $1300 price range with the pair trying to breach and stay above $1300 multiple times during Wednesday’s session, however, the pair continues to drop due to lack of momentum. The yellow metal continues to lose ground in the market despite

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