With Middle East tensions easing supply concerns and expectations that the U.S. Federal Reserve would continue raising interest rates in the largest oil-consuming country in the world buoyed by jobs statistics, oil prices dipped on Friday, on track for a weeklong loss. Futures for Brent crude dropped $1.21, or 1.4%, to $85.64 per barrel, while…
As the U.S. dollar gained strength due to hopes that the Federal Reserve will maintain high borrowing costs and a robust U.S. economy, silver prices fell by 1.49% to settle at 71669. Silver received some assistance from China’s stimulus policies and a declining currency as a result of encouraging economic news from Europe. Now, everyone…
Crude oil prices fell -3.48% to $68.80 per barrel as Middle East worries momentarily subsided. Concerns were aroused as Israel increased its ground operations in Gaza, but for the time being they have receded. Investor attention is now focused on a packed week of central bank meetings and economic data. Important economic data from China…
Oil prices increased by about $2 in early trade on Wednesday as industry data revealed a larger-than-anticipated draw in U.S. oil storage and concerns about Middle Eastern supply disruptions as a result of the escalating Israel-Hamas war. The price of Brent crude futures increased $1.62, or 1.8%, to $91.49 a barrel as investors prepared for…
Oil prices fell in early trade on Tuesday due to worries that fuel demand will be hampered by major central banks maintaining higher interest rates for a longer period of time, even if supply is anticipated to be constrained. U.S. West Texas Intermediate crude futures were trading 1 cent lower at $89.67 while Brent crude…
As investors priced in a pause in interest rate increases by the Federal Reserve during its policy meeting this week, with a focus on the U.S. central bank’s rate outlook, gold prices nudged higher on Monday. The price of spot gold increased 0.2% to $1,928.19 per ounce. American gold futures increased 0.2% to $1,949.30. Ahead…
In early trade on Wednesday, the rupee traded in a narrow range against the US dollar as high crude oil prices and a strong greenback offset the support from favorable macroeconomic data. Foreign exchange dealers claimed that domestic industrial production and retail inflation data were better than expected and backed up investor confidence. Investors are…
Despite continuing macroeconomic uncertainty, crude oil achieved a rise of 0.43%, ending the day at $72.58. Investors were more interested in the tightening supply conditions. The voluntary supply cuts by Saudi Arabia and Russia were increased by a total of 1.3 million barrels per day until the end of the year, which improved market sentiment….
On Wednesday, gold prices rose as a slight drop in the dollar and Treasury yields allowed bullion to stabilize close to a crucial $1,900 level ahead of a meeting of central bankers that was likely to reveal clues about the direction of interest rates. While American gold futures increased by 0.2% to $1,929.40 per ounce,…
The price of gold yesterday increased by 0.1% to 59355 as traders analyzed the most recent changes to monetary policy. The Federal Reserve stopped it’s tightening drive but made a suggestion that interest rates might rise again this year. At the same time, the ECB announced a further 25 bps increase in borrowing costs and…
