Tag: Commodities

The Direction of Gold Could be Varied as Dollar Predicted Considerable Shifts in 2017

The Direction of Gold Could be Varied as Dollar Predicted Considerable Shifts in 2017

Gold enjoyed a modest rise over the course of 2016, with occasions of significant volatility adding to its increase. With gold enjoying consecutive weeks of increase over the period leading up to Brexit, in which it 6 week increase in value, rising from a low of $1.199.90/ounce at the concluding trading week of May, and increasing … Continue reading The Direction of Gold Could be Varied as Dollar Predicted Considerable Shifts in 2017

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Optimism on OPEC Deal Remains High

Optimism on OPEC Deal Remains High

Despite a chopping trading session Friday, oil closed its the first trading  week of 2017 at an increase as traders and analysts remain confident in the capacity of OPEC to keep their word regarding the promised supply cuts ironed out in November 2016. Many analysts had been sceptical the oil cartel would keep to the promised … Continue reading Optimism on OPEC Deal Remains High

Gold Falls on Stronger Dollar

Gold and other dollar-denominated commodities fell as the dollar rose on strong wage growth figures released Friday, from December 2016's jobs report. Despite a slight increase in joblessness, with a rise from the 4.6% unemployment rate in November 2016, to 4.7% in December, wage growth propelled the dollar upward, reversing many of the losses it has … Continue reading Gold Falls on Stronger Dollar

WTI and Brent Rise

WTI and Brent Crude were both up around 0.85% at 13:20 EST, following the trend of many dollar-denominated commodities subsequent to the release of minutes from the Feds December meeting. Brent crude oil, the global benchmark continued a consecutive day of gains, heading up from yesterday's upward close of $53.70/barrel, standing currently at 0.85% or $57.08/barrel, … Continue reading WTI and Brent Rise

Buoyancy From Weak Dollar Pushes Gold Higher

The rise of many dollar-denominated commodities in Wednesday's trading session has continued into Thursday's, with a rise of 1.64% to 1,182.01 at 16:52 GMT. A falling dollar aided in pushing many dollar-denominated commodities higher in Wednesdays trading session, subsequent to the release of minutes from the Feds December meeting. With traders and analysts eager to detect … Continue reading Buoyancy From Weak Dollar Pushes Gold Higher

Commodities Rise on Fed Minutes

Commodities experience gains across the board as the minutes from the Feds December meeting are released. Energy: WTI and Brent posted modest rises after significant drops in Tuesday's trading session.  With Brent, the global benchmark, experiencing a rise of 1.69% and WTI Crude a rise of 1.72% at 19:25 GMT. Natural gas however experienced a … Continue reading Commodities Rise on Fed Minutes

Volatility in Oil Shows Combined Weariness and Optimism of OPEC Cuts

  Traders remain sceptical that all constituent members of OPEC will adhere fully to the OPEC proposal, including non-OPEC members, to cut global oil production by 2% and return the deeply saturated market back to a state of relative balance, or even deficit. Signed at the end of November 2016, the deal promised significant supply … Continue reading Volatility in Oil Shows Combined Weariness and Optimism of OPEC Cuts