The rally for the yellow metal
The dovish Fed pushed the price for the yellow metal up.
Crude stands still to down in Asia as market awaits fresh supply/demand cues
On Thursday, oil stood still in Asia, with minor fresh direction on supply or demand supposed to bump crude prices either way ahead of American rig count data at the end of the trading week.
In New York, October delivery crude futures went down 0.08% being worth $48.37 a barrel. At the same time in London Brent futures didn’t change sticking to $52.53.
Overnight, oil settled higher because data disclosed that American supplies of crude went down for a eighth-straight week. At the same time worries of dipping demand for gasoline relieved, following a bigger-than-expected sag in gasoline inventories.
Crude went up for a second-straight day because a report from the Energy Information Administration disclosed that crude as well as gasoline stockpiles inched down the previous week, although revenues were capped because American output was still at a two-year maximum of 9.528m barrels, adding up to 26,000 bpd from the previous week.
Similar
Gold reaches new high
The price for the yellow metal has crossed the level at $1,341.
5 important events this week will bring us!
Find out the main drivers for this week
Latest news
British inflation tacks on for the first time this year
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
Evergreen buck heads north
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
Gold sinks on soaring greenback
On Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…
Deposit with your local payment systems
