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Commodities

2024-02-21 | Market Insight

Gold Price Surges Past 2030 Mark, Oil Price Falls by Over 1%

USD and US bond yields declined, boosting gold prices to their highest level in over a week, briefly touching the 2030 mark; concerns over global demand overshadowed the impact of geopolitical tensions, causing oil prices to drop by over 1%.

2024-02-20 | Market Insight

Geopolitical Tensions Rise, Gold and Oil Prices Slightly Increase

The Middle East conflict boosts the safe-haven appeal of gold, with gold prices continuing to rebound on Monday, edging up slightly; signs of weakened demand offset concerns over tight supply, leading to a slight increase in oil prices.

2024-02-19 | Market Insight

Gold Weekly Declines for Second Consecutive Week, Crude Oil Rises for Third Week to Reach New Highs

Gold saw a slight increase last Friday, but due to hot inflation data and the prospect of the Fed cutting interest rates early cooling down, gold recorded a second consecutive weekly decline with a 0.51% drop last week.

2024-02-16 | Market Insight

The United States Sees Major Drop in January Retail Sales, Gold Rebounds, Oil Prices Rise Nearly 2%

Dragged down by U.S. retail sales data, the U.S. dollar and Treasury yields declined, prompting a rebound in gold, which closed up by 0.6%.

2024-02-15 | Market Insight

Gold Prices Fall for Six Consecutive Trading Days, Both Oil Benchmarks Drop by Over 1%

Prior to this, US inflation data came in higher than expected, prompting investors to reduce bets on the Federal Reserve’s early rate cuts. As a result, the price of gold fell for six consecutive trading days.

2024-02-14 | Market Insight

Gold Price Falls Below USD 2000 Threshold, Oil Prices Rise by About 1%

The latest released data shows that the core CPI (Consumer Price Index) in the United States for January recorded a rate of 0.4%, nearly extinguishing market expectations for a Fed rate cut in May.

2024-02-09 | Market Insight

Strong Dollar Pushes Gold Prices Down, Oil Rises Over 3% to Hit One-Week High

Due to the latest release of US initial jobless claims being stronger than market expectations, the hope for an early interest rate cut by the Federal Reserve diminished, leading to a strengthening of the US dollar and an increase in bond yields, causing gold prices to decline, briefly falling near the 2020 level.

2024-02-08 | Market Insight

Gold Holds Steady, Oil Prices Rise, Market Focuses on Speeches by Federal Reserve Officials

Investors await clues from Federal Reserve officials on the interest rate path, with gold prices holding steady, dipping by 0.04%; boosted by larger-than-expected declines in US gasoline inventories and escalating tensions in the Middle East, oil prices have risen for the third consecutive day.

2024-02-07 | Market Insight

Dollar Retreats, Gold Price Rises 0.5%, EIA Downgrades Production, Oil Prices Close Slightly Higher

The dollar and US Treasury yields retreated, providing a rebound opportunity for gold prices, which rose by 0.5%; the EIA released the short-term energy outlook for February, lowering the forecast for US crude oil production in 2024.

2024-02-06 | Market Insight

Gold Price Falls for Two Consecutive Days Below the USD 2020 Mark, Concerns Over Crude Oil Supply Boost Oil Price Rise

In January, the growth of the service industry in the United States accelerated, further reducing the possibility of interest rate cuts in March, once again dampening the bullish sentiment on gold.