A week ago, the dollar drop caused gold and oil prices have reached inflection points. Jerome Powell, Federal Reserve chairman, is expected to make a speech. Besides, the Labor Department will release US jobs numbers for February. For oil prices, the meeting of OPEC and its allies this month is critical. As for gold, Powell’s speech hosted …
The gold price movement to be determined after Powell’s speech Read More »
After the biggest annual gain in a decade, gold entered 2021 with high expectations. However, the precious metal has seen the worst start in 30 years. Bullion for immediate delivery kept declining on Friday. Meanwhile, futures touched a seven-month low. Spot gold fell 0.4% to $1,768.53 an ounce at 8:37 am in Singapore and is …
Shocking reversal of Gold from commodity leader to a laggard Read More »
Oil prices erased their initial gains on Thursday after Brent hit a new 13-month high. Fears that a rare, extreme cold in Texas could disrupt US crude production for days or even weeks caused this. Brent oil was trading 0.3% higher at $64.55 a barrel after rising earlier in the day to $65.52 a barrel, …
Brent oil cuts profits after exceeding $65 while gold recovers Read More »
Gold dropped for a fifth straight day. It has put the haven on course of the longest losing run in almost a year. The drop in precious metal prices resulted from Treasury yields increasing. Market sentiment is optimistic on expectations that the economy is recovering from the coronavirus impact. The distribution of the coronavirus vaccine …
Gold prices have decreased more than 5% this year Read More »
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