Gold prices were set for a third week of gains on Friday as easing inflation boosted optimism over a rate cut by the Federal Reserve, while Brent Crude prices (CO1:COM) rose above $86 a barrel, even though it was set for a weekly drop. Spot gold (XAUUSD:CUR), down -0.5% toContinue Reading
FactoryTh BMI (a unit of Fitch Solutions) increased its 2024 copper price forecast from $9,200/tonne to $9,600/tonne, as prices continue to be led by investor sentiment that is tilted towards a rate cut by the U.S. Federal Reserve in the third quarter. Copper has pulled back since surging to aContinue Reading
The estimated value of open interest across global commodity markets surged to a six-week-high, up by 2.6% week-on-week to ~$1.45 trillion as of July 5, primarily led by price-based gains across metals and grain and the oil seed markets, JPM Commodities Research said. Inflows, calculated across all trader types, returnedContinue Reading
FeelPic Gold prices (XAUUSD:CUR) ticked lower on Tuesday, pressured by a firmer U.S. dollar index (DXY), while oil prices edged up on hopes of better demand during summer and rising geopolitical tensions. A strong dollar causes the gold price to rise in other currencies, leading to selling pressure, while higherContinue Reading
magicflute002/iStock via Getty Images Cocoa futures (CC1:COM) ticked lower on Friday, set for their third-straight weekly fall, and biggest monthly drop in at least a year, as improved weather conditions in the key growing region in West Africa calmed supply fears, following a meteoric rise in prices recently. The mostContinue Reading
da-kuk/E+ via Getty Images Wheat futures fell on Wednesday due to expectations of increased supply from the United States, while gold prices ticked lower as the U.S. dollar held firm, heaping pressure on the nonyielding asset amid hawkish remarks from Federal Reserve officials. The USDA released its 13th Crop ProgressContinue Reading
