WTI price gained ground due to rising geopolitical tensions amid reports that Iran may attack Israel. Israeli intelligence believes Iran intends to launch numerous drones and ballistic missiles before the US presidential election. US Oil production increased by 1.5% in August, reaching a monthly record high of 13.4 million barrels per day. West Texas Intermediate…
Gold prices rose in Pakistan on Tuesday, according to data compiled by FXStreet. The price for Gold stood at 24,635.73 Pakistani Rupees (PKR) per gram, up compared with the PKR 24,530.90 it cost on Monday. The price for Gold increased to PKR 287,346.30 per tola from PKR 286,123.60 per tola a day earlier. Unit measure…
WTI gains ground due to heightening fears of supply disruptions amid rising uncertainties in the Middle East. Israel launched strikes on southern Beirut while US Secretary of State Antony Blinken was touring the region, urging for a ceasefire. Oil prices faced challenges as EIA Crude Oil Stocks Change showed an increase of 5.474 million barrels….
Platinum markets may just be offering the only sandbox in which your bread-and-butter playbook could be expressed, TDS’ Senior Commodity Strategist Daniel Ghali notes. Source link
WTI holds steady amid hopes for a demand recovery in China and Middle East tensions. A larger-than-expected rise in US crude stock caps the commodity amid a bullish USD. Traders now look forward to the official US inventory data for short-term opportunities. West Texas Intermediate (WTI) US Crude Oil prices trade with a positive bias…
Crude Oil struggles to uphold $70.00 for more than day, with more downside expected. Traders expect longer sluggish demand as markets reprice Fed rate cut prospects. The US Dollar Index broke above 103.80 and tested 104.00, primed for more upside. Crude Oil struggles to hold ground and orbits around the $70.00 level on Tuesday. The…
Both OPEC and the IEA revised their oil demand forecasts downwards again this week, Commerzbank commodity analyst Carsten Fritsch notes. Oil market to face a significant oversupply next year “OPEC now expects an increase of 1.9 million barrels per day this year and 1.7 million barrels per day next year. That is 100,000 barrels per…
Commodities Drag Currencies: Is a Recovery Possible? XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX” width=”0″ style=”display:none;visibility:hidden”> Source link
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Gold price bounces off a multi-week low, though the uptick lacks bullish conviction. Bets for a 25 bps Fed rate cut in November underpin the USD and cap the XAU/USD. Investors now look to the release of the US CPI report for a fresh directional impetus. Gold price (XAU/USD) attracts some buyers on Thursday and…