Crude oil has received a substantial boost and broke above the consolidation zone where it was stuck. The WTI was very strong during the trading session on Wednesday. Partially, it was due to inventory data released showing a significant drop in reserves. It was a bullish sign that supports the idea that the economy is …
During Tuesday’s session, WTI crude oil prices have risen very slightly and have continued to swing around the $60 range. The oil continues uphill, and WTI is up 1.10% on Wednesday. It reached $61.28, the highest level since April 4. It is trading around $61.10, holding on to recent gains. A combination of factors helped …
Copper fell on Monday on the fear that China, the largest consumer of metals, wants to put caps on commodity prices to avoid possible inflation. The market is also pressured by faltering demand and higher inventories of the metal. Three-month copper on the London Metal Exchange declined by 0.6% at $8.875 a tonne. The metal …
Copper Loses Ground for Fear that China Wants to Limit Commodity Prices Read More »
Surging US Treasury yields weighed on gold. The precious metal dropped by 0.3% to $1,738.12 per ounce on Monday. Gold futures decreased by 0.4% to $1,737.70 per ounce. In the first quarter of 2021, gold has suffered the most significant price drop since 2016. It is one of the few commodities trading below the numbers …
Gold has suffered the biggest quarterly decline in four years Read More »
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