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POPULAR NEWS
Gold gives up nearly all of its gains, but settles at highest since late August 2013

Gold futures gave up almost all of their earlier gains by Tuesday afternoon, though still marked the highest most-active contract settlement since August 2013. Federal Reserve Chairman Jerome Powell suggested Tuesday that an interest-rate cut in July is not a done deal. Following those comments, George Gero, managing director at RBC Wealth Management, said he expected to see profit taking in gold. A July interest-rate cut has been widely expected by investors and economists. August gold rose...

Gold settles lower after 4-session climb lifted prices near a 6-year high

Gold futures settled lower on Wednesday, down from the nearly six-year high scored a day earlier, following comments from Federal Reserve chair Jerome Powell on Tuesday that analysts interpreted as less dovish than expected, along with fresh hopes for progress on U.S.-China trade talks. Also, optimistic comments by U.S. Treasury Secretary Steven Mnuchin early Wednesday regarding the U.S.-China trade dispute shifted investor attention back towards equity markets œbut in my opinion, that is a...

Dollar Crumbles to New Lows vs. Euro, Yen on U.S. Rate Cut Bets

The U.S. dollar fell to a three-month low against the euro and dropped to its weakest against the Japanese yen since early January as the prospect of monetary easing by the Federal Reserve knocked demand for the U.S. currency. The euro hit a three-month high of $1.1412, having gained 2.0% from a two-week low of $1.1181 touched a week ago. It last stood at $1.1382, down 0.1% on the day. The dollar dropped 0.4% to as low as 106.78.The yen has also benefited from investor nerves over tensions...

Gold Takes Aim at Fresh 2013 Highs as U.S.-Iran Tensions Build

Geopolitical tensions helped nudge investors into gold on Tuesday, driving the precious metal deeper into record territory. August gold rose $19, or 1.3%, to $1,437.40 an ounce, which could put the precious metal on track for the highest settlement for a most-active contract since May 10, 2013, according to FactSet. Gold rose 1.3% to settle at $1,418.20 on Tuesday, for the strongest settlement for a most-active close since August 28, 2013, according to FactSet. The metal gained 4.1% last...

Oil prices rally as weekly U.S. crude inventory drops by almost 13 million barrels

Oil prices climbed sharply on Wednesday, as the U.S. government reported a weekly drop of nearly 13 million barrels in domestic crude stocks, reportedly the largest since 2016. Given the big draw in gasoline and supply decline at the U.S. oil trading hub at Cushing, Okla., "we wouldn't be surprised to see the $60 level get breached in WTI," he said. "However, with the upcoming OPEC meeting and also the [Group of 20 leaders summit], we will see the next directional move on the results of these...

Oil Rises as Saudi Arabia Reports Drone Attacks on Pump Stations
Tuesday, 14 May 2019 18:42 WIB | COMMODITY |MinyakWTIBrent

Oil rose as Saudi Arabia reported drone attacks on pumping stations, the latest escalation in Middle East tensions after tankers were hit by sabotage over the weekend.

Futures rose 1.2% in New York, reversing Monday™s drop. Unidentified drones attacked two pumping stations belonging to Saudi Aramco, forcing the state oil company to suspend operations in the area to assess what the kingdom said was œlimited damage. That follows damage to oil tankers anchored off the United Arab Emirates on Sunday.

Oil volatility has jumped this month as crude is buffeted by the specter of a full-blown trade war on the demand side, while a combustible Middle East and production disruptions from Norway to Nigeria are throwing the supply outlook into doubt. U.S. drilling activity and a pending decision by the Organization of Petroleum Exporting Countries and its allies on whether output curbs will be extended are taking a back seat to the various crises.

West Texas Intermediate crude for June delivery advanced 72 cents to $61.76 a barrel on the New York Mercantile Exchange at 12:13 p.m. London time. The contract closed down 62 cents at $61.04 on Monday.

Brent for July settlement was up 1.5% at $71.31 a barrel on the London-based ICE Futures Europe exchange, after losing as much as 0.4% earlier. The global benchmark contract is trading at a $9.38 premium to WTI.

Source : Bloomberg

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POPULAR NEWS
Gold gives up nearly all of its gains, but settles at highest since late August 2013

Gold futures gave up almost all of their earlier gains by Tuesday afternoon, though still marked the highest most-active contract settlement since August 2013. Federal Reserve Chairman Jerome Powell suggested Tuesday that an interest-rate cut in July is not a done deal. Following those comments, George Gero, managing director at RBC Wealth Management, said he expected to see profit taking in gold. A July interest-rate cut has been widely expected by investors and economists. August gold rose...

Gold settles lower after 4-session climb lifted prices near a 6-year high

Gold futures settled lower on Wednesday, down from the nearly six-year high scored a day earlier, following comments from Federal Reserve chair Jerome Powell on Tuesday that analysts interpreted as less dovish than expected, along with fresh hopes for progress on U.S.-China trade talks. Also, optimistic comments by U.S. Treasury Secretary Steven Mnuchin early Wednesday regarding the U.S.-China trade dispute shifted investor attention back towards equity markets œbut in my opinion, that is a...

Dollar Crumbles to New Lows vs. Euro, Yen on U.S. Rate Cut Bets

The U.S. dollar fell to a three-month low against the euro and dropped to its weakest against the Japanese yen since early January as the prospect of monetary easing by the Federal Reserve knocked demand for the U.S. currency. The euro hit a three-month high of $1.1412, having gained 2.0% from a two-week low of $1.1181 touched a week ago. It last stood at $1.1382, down 0.1% on the day. The dollar dropped 0.4% to as low as 106.78.The yen has also benefited from investor nerves over tensions...

Gold Takes Aim at Fresh 2013 Highs as U.S.-Iran Tensions Build

Geopolitical tensions helped nudge investors into gold on Tuesday, driving the precious metal deeper into record territory. August gold rose $19, or 1.3%, to $1,437.40 an ounce, which could put the precious metal on track for the highest settlement for a most-active contract since May 10, 2013, according to FactSet. Gold rose 1.3% to settle at $1,418.20 on Tuesday, for the strongest settlement for a most-active close since August 28, 2013, according to FactSet. The metal gained 4.1% last...

Oil prices rally as weekly U.S. crude inventory drops by almost 13 million barrels

Oil prices climbed sharply on Wednesday, as the U.S. government reported a weekly drop of nearly 13 million barrels in domestic crude stocks, reportedly the largest since 2016. Given the big draw in gasoline and supply decline at the U.S. oil trading hub at Cushing, Okla., "we wouldn't be surprised to see the $60 level get breached in WTI," he said. "However, with the upcoming OPEC meeting and also the [Group of 20 leaders summit], we will see the next directional move on the results of these...

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