Gold prices gained on Tuesday supported by a softer dollar, while market participants awaited U.S. inflation data for cues on the Federal Reserve’s policy tightening path. Spot gold was 0.4% higher at $1,794.76 per ounce, while U.S. gold futures rose 0.4% to $1,811.40. A weaker greenback makes gold less expensive for overseas buyers. The dollar Read More
Oil prices plunged around 2% on Friday, on expectations that supply disruptions in the U.S. Gulf of Mexico would be short-term, while recession fears clouded the demand outlook. Futures, however, were still on track for a weekly gain. Brent crude futures fell $1.47, or 1.5%, to $98.13 a barrel, while U.S. West Texas Intermediate (WTI) Read More
Gold prices gained on Tuesday supported by a softer dollar, while market participants awaited U.S. inflation data for cues on the Federal Reserve’s policy tightening path. Spot gold was 0.4% higher at $1,794.76 per ounce, while U.S. gold futures rose 0.4% to $1,811.40. A weaker greenback makes gold less expensive for overseas buyers. The dollar Read More
Gold prices edged lower on Monday after solid U.S. jobs data last week boosted the prospect of aggressive interest rate hikes by the U.S. Federal Reserve, lifting the dollar and Treasury yields. Spot gold was down 0.1% at $1,771.74 per ounce, as of 0454 GMT, after dropping 1% in the previous session. U.S. gold futures Read More
Oil prices rose in early Asian trade on Thursday, bouncing off multi-month lows in the previous session caused by data signaling weak U.S. fuel demand. Brent crude futures rose 53 cents, or 0.6%, at $97.31 a barrel by 0020 GMT while West Texas Intermediate (WTI) crude futures rose 55 cents, also a 0.6% gain, to Read More
Oil prices fell about 1% in early trade on Wednesday, reversing gains from the previous session ahead of a meeting OPEC+ producers on fears of a slowdown in global growth hitting fuel demand and a firmer dollar. Brent crude futures fell 94 cents, or 0.9%, to $99.60 a barrel at 0020 GMT, wiping out the previous Read More
Oil slipped on Tuesday as investors absorbed a bleak outlook for fuel demand with data pointing to a global manufacturing downturn just as OPEC+ producers meet this week to decide whether to increase supply. Surveys showed on Monday that factories across the United States, Europe and Asia struggled for momentum in July as flagging global Read More
Oil prices were mixed on Thursday, as concerns about a potential global recession that would knock energy demand offset lower crude inventories and a rebound in U.S. gasoline consumption. Brent crude futures ended the day 52 cents higher at $107.14, after gaining $2.22 on Wednesday. U.S. West Texas Intermediate crude (WTI) settled 84 cents, or Read More
Oil prices edged up on Thursday, extending gains from the previous session, buoyed by lower crude inventories and higher gasoline demand in the United States. Brent crude futures for September rose 40 cents, or 0.4%, to $107.02 a barrel by 0010 GMT, after gaining $2.22 on Wednesday. U.S. West Texas Intermediate crude (WTI) was at Read More
Oil prices rose on Tuesday for a second day on increasing concerns about tightening European supply after Russia, a key oil and natural gas supplier to the region, cut gas supply through a major pipeline. Brent crude futures for September settlement rose $1.66, or 1.6%, to $106.81 a barrel, extending a 1.9% gain in the previous Read More
