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Tag: Commodities

Oil Prices Drop on Friday as Higher Production Looms

Oil prices fell for a sixth day on Friday, and were on track for their biggest weekly loss in 10 months, as record-high U.S. crude output added to concerns about a sharp rise in global supplies. The drop came amid a rout in global equity markets sparked by inflation fears.[MKTS/GLOB] Brent futures LCOc1 were down […]

Hawks coming home to roost

Hawks coming home to roost Equity markets were trounced on the back of Global yields parading to multi-year highs Thursday. Indeed, it was less dovish Fed speak that continued to be the driver, and the BoE provided a hawkish bounty for good measure. The ruckus in the bond pits these days appears hell-bent on marching […]

Gold Dips to 2-Month Low But Recovers

Gold prices dropped considerably on Thursday before recovering. In North American trade, the spot price for an ounce of gold is $1319.57, up 0.10% on the day. On the release front, there was excellent news on the employment front, as unemployment claims dropped to 221 thousand, well below the estimate of 232 thousand. The US […]

Market Jitters Remain

Market Jitters Remain US stocks toppled again on Wednesday in choppy and messy fashion after a dispirited US Treasury auction revived concerns about a hawkish Fed, unnerving investors already spooked after the rapid climb in US Treasuries apparently ignited a jump in the Cboe Volatility index. A deplorable auction with meek demand pushed yields on […]

Gold Slides to 4-Week Low as Stock Markets Settles Down

Gold has posted losses in the Wednesday session. In North American trade, the spot price for an ounce of gold is $1318.19, down 0.47% on the day. On the release front, there are no major US events on the schedule. It’s been a volatile week for stock markets across the world, and this has triggered […]

Plop Plop Fizz Fizz oh what a relief it is

Plop Plop Fizz Fizz oh what a relief it is A case of turnaround Tuesday or merely the eye of the storm? What a wild ride the past 48 hours !!  and of course the downward correction in equity market was always on the cards as a combination of multi-year high bond yields, and record highs in […]

Gold Drops as US Stock Markets Recover

Gold has posted strong losses in the Tuesday session. In North American trade, the spot price for an ounce of gold is $1328.04, down 0.86% on the day. On the release front, JOLTS Jobs Openings slowed to 5.81 million, well off the estimate of 5.95 million. Gold prices moved higher on Monday, following a massive sell-off […]

Gold Shrugs as US Services PMI Beats Expectations

Gold has posted small gains in the Monday session. In North American trade, the spot price for an ounce of gold is $1335.14, up 0.15% on the day. On the release front, the ISM Non-Manufacturing PMI climbed to 59.9, above the forecast of 56.5 points. This points to strong expansion in the services sector and […]

Dollar Rebounds After Strong Jobs Report

US added 200,000 positions in January The US dollar rose against major pairs on Friday. The release of the U.S. non farm payrolls (NFP) proved to be the much needed shot in the arm after the greenback was under pressure for most of 2018. The job gains were above expectations but more importantly the hourly […]

Gold Ticks Lower, Investors Eye Nonfarm Payrolls

Gold has posted small losses in the Thursday session. In North American trade, the spot price for an ounce of gold is $1343.22, down 0.14% on the day. On the release front, employment data was positive, as unemployment claims dropped to 230 thousand, below the forecast of 237 thousand. ISM Manufacturing PMI slowed to 59.1, but […]