Author: Updates Comex

Oil prices climbed on Thursday, reversing previous losses, as a bigger-than-expected draw in U.S. gasoline and distillate stocks prompted buying. The uptick was also supported by expectations that soaring natural gas prices as winter approaches will drive a switch to oil to meet heating demand. Brent crude futures gained 67 cents, or 0.8%, to $83.85 Read More

Gold prices rose on Tuesday, as rising inflation fears dulled risk appetite and boosted demand for the safe-haven metal, although an advancing U.S. dollar limited bullion’s gains. Spot gold rose 0.3% to $1,759.31 per ounce by 13:44 p.m. EDT, while U.S. gold futures settled 0.2% higher at $1,759.3. A global energy crunch has threatened economic Read More

Oil rose towards $84 a barrel on Tuesday, within sight of a three-year high, supported by a rebound in global demand that is contributing to energy shortages in big economies such as China. With demand growing as economies recover from pandemic lows, the Organization of the Petroleum Exporting Countries (OPEC) and allied producers, collectively known Read More

The dollar consolidated gains against its rivals on Monday after four consecutive weeks of increases as widening concerns about the Chinese property sector and firm U.S. Treasury yields have encouraged hedge funds to ramp up their long positions. After spending the second quarter of 2021 on the back foot the dollar has received a fresh Read More

comexLive Chart as on 30 Sept 2021

Oil prices edged lower on Wednesday after U.S. crude inventories rose by more than anticipated, even as OPEC plans to maintain its deliberate approach to adding supply to the market despite strong worldwide demand. U.S. crude stockpiles rose by 4.6 million barrels last week, exceeding expectations, boosted by a rebound in output as offshore facilities Read More

Oil prices fell for the second straight day on Wednesday as doubts re-emerged over demand, with Covid-19 cases continuing to rise worldwide and gasoline shortages in some regions. Brent crude was down $1.03 or 1.3% at $78.06 a barrel by 0130 GMT, having fallen nearly $2 on Tuesday after touching $80.75, its highest in nearly Read More

Gold slid to a 1-1/2-month low on Tuesday, as a stronger dollar and U.S. Treasury yields curbed demand for non-interest-bearing bullion, while investors also waited for policy cues from a speech by Federal Reserve chair Jerome Powell. Spot gold hit its lowest level since Aug. 11 at $1,735.40 per ounce and was down 0.5% at $1,741.90 Read More

Oil prices steadied on Friday near a two-month high of $77.50 a barrel and were headed for a third straight week of gains, supported by global output disruptions and inventory draws. The rally was slightly dampened by China’s first public sale of state crude reserves. Brent crude was up 17 cents, or 0.22%, at $77.42 Read More

Oil prices climbed more than $1 on Wednesday after U.S. crude stocks fell to their lowest levels in three years as refining activity recovered from recent storms. Despite recent wobbles from U.S. economic figures, overall demand for fuel has rebounded to pre-pandemic levels. Product supplied over the last four weeks has come in at nearly Read More

Gold prices were steady on Wednesday as investors braced for the outcome of a U.S. Federal Reserve meeting and chief Jerome Powell’s remarks on reducing its massive support for the pandemic-hit economy. Spot gold rose 0.1% to $1,775.36 per ounce by 0840 GMT, while U.S. gold futures fell 0.2% to $1,775.00. “The markets are already Read More

Gold prices were flat on Tuesday as investors adopted a risk-averse stance amid caution ahead of U.S. Federal Reserve’s policy meeting where the central bank is expected to provide cues on when it will begin tapering its asset purchases. Bullion is considered as a hedge against inflation and currency debasement likely resulting from the widespread stimulus. Read More

Quantum chemists believe that gold, silver, and copper could be promising candidates for hydrogen storage. This has huge implications for green energy, as hydrogen is incredibly volatile and challenging to store at ambient temperatures. Dr. Cristina Trujillo, a research fellow at Trinity College Dublin’s School of Chemistry, said in an interview with phys.org, “Among the Read More

Comex Live Chart as on 15 Sept 2021

Gold prices on Wednesday consolidated in a tight range near the key $1,800 level as softer U.S. inflation data fed uncertainty about the Federal Reserve’s tapering timeline. Spot gold was down 0.2% at $1,800.38 per ounce, but slightly off a one-week peak of $1,808.50 hit on Tuesday, in part because the dollar recovered some ground Read More