OIL Oil prices continued to rise during early Thursday trading, following the publication of US inventories data, which showed that stocks continue to decline. Meanwhile, investors now await the outcome of the OPEC+ meeting occurring today, with the consensus pointing at an increase in output in the order of half million barrels per day, which,…
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GOLD Gold remains on the back foot during early Wednesday trading, with the precious metal likely to have its worst month of the last few years. These losses clearly correlate with the strengthening of the dollar, with the markets pricing in the Federal Reserve’s shift to a more hawking stance. In the current context, Friday’s…
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GOLD The gold price is declining during early Tuesday trading, weighed down by the strengthening of the US dollar. The markets appear increasingly unsettled by the Fed’s taboo on inflation, with a growing number of investors taking a net view that the central bank’s ambiguity, mixing a new hawkish stance with dovish declarations from some…
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OIL Oil prices hit a fresh multi-year high during early Monday trading, as traders continue to ride the bullish wave ahead of this week’s OPEC+ meeting. Oil prices have been driven by a scarcity in supply as global demand increases. With the main producers so far sticking to their quotas and talks between US and…
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GOLD Gold continues to trade inside a triangle pattern between $1,800 and $1,760 with no bullish reversal signs in sight so far. Indeed, the current global optimism has caused traders and other mid-term investors to rotate away from defensive values and safe havens to riskier assets, which represents a strong bearish market driver for gold.…
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OIL Oil markets continued to edge higher on Wednesday, boosted by the US Dollar falling once again and correcting its short-term bullish trend started last week. The barrel of light crude oil is now challenging its immediate resistance at $73.20, the last one before the major resistance between $73.90 and $74. As well as the…
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GOLD Gold’s bearish price action since the beginning of the month is slowing down as the price loses more and more directionality. The market is consolidating between $1,770 and $1,800 following last week’s sell-off as investors struggle to get more clarity on the near-term outlook for gold. The bearish pressure is likely to remain as…
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OIL The black gold is starting the week on a mixed tone amid uncertain short to mid-term market sentiment. While oil related shares are drifting, the fact the US Dollar is holding onto last week’s gains is keeping a certain bearish pressure on the barrel’s price. On the other hand, lagging talks between Iran and…
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GOLD Gold gained approximately 1% during early Friday trading, following a slowdown in dollar gains, however the precious metal is still on track for the worst weekly performance since March 2020. With investors pricing in the adoption of a more hawkish stance from the Fed, the dollar will be likely to remain supported, at least…
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OIL Oil prices dropped back from multi-year highs late on Wednesday, after the Federal Reserve indicated its intention to raise interest rates faster than previously thought, triggering a dollar rally. With the Fed becoming hawkish, the dollar is likely to continue to rally in the days ahead, representing a headwind for oil and other commodities.…
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