Gold found fresh supply on Friday and snapped a two-day winning streak. Resurgent demand for dollars and risk appetite turned out to be key bearish factors. The ongoing decline in US bond yields offered some support and helped limit further losses. Gold struggled to capitalize on the strong gains posted in the last two trading […]
Tag: Commodities
Forex Today: Dollar Rebounds Alongside Yields Ahead of Powell’s Speech
This is what you need to know to trade today Friday June 17: After Thursday’s strong sell-off, dollar holds firm against rivals early Friday. The yield on the 10-year US Treasury note, which lost almost 3% on Thursday, is now up more than 1% on the day, with the dollar index advancing towards 104.50. Eurostat […]
US: Department of Energy has requested to meet with refiners about prices before June 21
The The US Department of Energy has requested to meet with the refiners to discuss prices no later than June 21.reports Reuters citing sources with knowledge of the matter. The sources also reported that the US Secretary of Energy has requested a meeting with refining executives on gas prices no later than June 21. This […]
Gold Forecast: XAU/USD trades around $1,820 after Fed decision
Gold is under pressure as the US dollar firms because of the Fed. the price of gold has reacted little to what was a well-anticipated move by the Federal Reserve on Wednesday. The central bank has raised the reference interest rate by 75 basis points to leave the target range at 1.50% – 1.75%. This […]
Gold gains strength as Treasury yields decline ahead of Fed decision
The price of gold recovers decisively after falling for two days. XAUUSD is approaching strong resistance that lines up at $1,840. The reaction of US Treasury bond yields to the Fed’s policy decisions could affect the valuation of gold. the price of gold It took a sharp turn from the monthly low touched at $1,805 […]
President Biden Asks Secretary of Energy to Hold Emergency Meeting on Oil Refining Capacity
US President Joe Biden on Wednesday asked the Secretary of Energy to hold an emergency meeting on oil refining capacity. Biden, in a letter, demanded that oil companies explain why they are not putting more gasoline on the market, strongly escalating their rhetoric against the industry. Key comments “In times of war, it is not […]
WTI maintains losses around $115.50 after gloomy IEA outlook on oil demand
In its latest report on the oil market, the International Energy Agency (IEA) has said that oil demand growth will be held back by rising prices and a weaker economic outlook. Additional comments Observed global oil inventories increased at 77 million barrels in April after nearly two years of decline. OPEC+ output could rise 2.6 […]
Forex Today: Euro jumps on ECB news, dollar awaits Fed rate decision
This is what you need to know to trade today Wednesday June 15: The news that the European Central Bank (ECB) will hold an ad hoc meeting of the Governing Council to discuss current market conditionsspecifically the drop in bonds, has caused a rally in the common currency at the start of the European session […]
Gold Sets at One-Month Lows, Traders Remain Cautious Ahead of FOMC
The price of gold has recovered slightly from the one-month low reached on Tuesday. Aggressive bets on the Federal Reserve rate hike supported the dollar and limited any significant rise. Recession fears extended some support ahead of Wednesday’s crucial FOMC decision. The price of gold attracted some buying near the $1,810 region, or a one-month […]
Silver Price Analysis: XAG/USD bears have the upper hand, struggling near $21.00
Silver struggled to preserve/capitalize on modest recovery gains from a one-month low. The technical setup favors the bears and supports the prospects for further losses. A sustained move beyond $22.00 is needed to negate the short-term negative bias. XAG silver gave back much of its intraday gains and pulled back to the lower end of […]
