Oil prices increased on Monday as market uncertainty regarding the reopening of the Strait of Hormuz reemerged. Iran announced that a deal with Oman to establish new shipping lanes is nearing completion; however, it emphasised that the United States must fulfilll further conditions prior to the reopening of the waterway. Brent crude futures increased by Read More
Gold maintained its position in early Asian trading on Monday following a seven-week high reached on Friday, as investors anticipated important inflation reports scheduled for later this week that may provide insights into interest rate movements. Spot gold remained relatively stable at $4,339.59 per ounce as of 0017, following a notable gain of over 7% Read More
Oil prices continued to rise for a second consecutive session on Friday, driven by renewed concerns regarding the Strait of Hormuz. This development follows Iran’s proposal, in collaboration with Oman, to restrict the passage of vessels deemed hostile and to impose significant penalties on those who violate the proposed regulations. Brent crude futures increased by Read More
Gold steadied on Friday and was on track for its largest weekly gain since January, supported by declining oil prices, as investors anticipated crucial U.S. nonfarm payrolls data for insights into the interest rate outlook. Spot gold remained relatively stable at $4,235.57 per ounce as of 0045, reflecting a weekly increase of 4.8%. U.S. gold Read More
Oil prices declined on Thursday as investors considered indications of advancement in negotiations between Iran and Oman, which may pave the way for a peace agreement between the U.S. and Iran. This development could potentially bring an end to the five-month conflict and facilitate the reopening of the Strait of Hormuz. Brent crude futures declined Read More
Gold experienced an increase for the fourth consecutive session on Thursday, reaching its highest level in seven weeks. This rise was supported by a weaker dollar and declining Treasury yields, fuelled by increasing optimism regarding the reopening of the Strait of Hormuz. Spot gold increased by 1% to $4,285.69 per ounce as of 0035, reaching Read More
Oil prices continued their decline for a third consecutive session on Wednesday as investors monitored progress regarding initiatives to resolve the U.S.-Iran conflict and restore commercial shipping through the Strait of Hormuz. Brent crude futures experienced a decrease of $1.1, representing a 1.34% decline, settling at $78.30 per barrel. Meanwhile, U.S. West Texas Intermediate crude Read More
Gold inched up on Wednesday, supported by a softer dollar, as market participants prepared for the forthcoming key U.S. jobs data to gauge the U.S. Federal Reserve’s next monetary policy move. Spot gold experienced an increase of 0.1%, reaching $4,081.09 per ounce, as of 0040. U.S. gold futures experienced a decline of 0.4%, settling at Read More
Oil prices increased slightly on Tuesday following significant declines in the prior session, as apprehensions regarding supply risks in the Middle East reemerged amid diminishing expectations for a diplomatic resolution in the U.S.-Iran conflict that has impacted shipments. Front month Brent crude futures increased by $0.71, or 0.8%, reaching $84.50 a barrel following a decline Read More
Gold maintained its position on Tuesday as investors assessed mixed signals regarding potential U.S.-Iran discussions while anticipating a series of U.S. employment reports for insights into the Federal Reserve’s trajectory on interest rates. Spot gold remained unchanged at $4,055.39 per ounce, as of 0042. U.S. gold futures increased by 0.6%, reaching a price of $4,055.10. Read More
