Crude's prices fall on the inventories' release
The release of crude oil inventories earlier today showed a surprise increase in the number of barrels.
Gold surges a bit
On Friday, gold headed south. The yellow metal found itself on track to report its greatest weekly ascend since August after market turmoil, which sent equities reeling and put pressure on Treasury yields as well as the evergreen buck.
On the Comex exchange, February delivery gold futures GCG9 rallied by 0.2% being worth $1,246.10 an ounce. March delivery silver futures SIH9 managed to head north by 0.2% ending up with $14.545 an ounce. For the week, the yellow metal surged by 1.6% that would be the most impressive such gain since a 2.5% leap by August 24. The yellow metal is trading near a five-month maximum, trimming its year-to-date tumble to 4.8%.
However, the weekly surge has left some experts unimpressed in the face of a steep selloff in global stocks, a dive in the evergreen buck as well as bond gains, and market participants started scaling back hopes for future interest-rate lifts by the key US financial institution.
On Thursday, American shares slumped steeply. Ahead of the publication of November jobs data, stock index futures started lower.
Estimating the purchasing potential of the US currency versus its primary counterparts the USD index surged by up to 0.1% Friday, although diving by 0.4% for the week. Besides this, the gain on the 10-year Treasury note TMUBMUSD10Y bounced off nearly 2.6 basis points from a three-month minimum ending up with 2.897%.
A weaker evergreen buck is capable of boosting commodities priced in the US currency because it makes it more affordable to keeper s of other currencies. By the way, lower bond yields can also be good for commodities that don’t provide a yield.
January delivery platinum futures PLF9 went down by 0.4% ending up with $786.20 an ounce. Moreover, March delivery palladium futures surged by 0.1% trading at $1,143 an ounce.
Similar
The price for gold has tested the levels above $1,500
The yellow metal reached the highest levels in 6 years amid the global risk aversion.
Gold is rising
The yellow metal could not stay for a long time near the $1,401 level.
Latest news
Bitcoin dives 14%, slumping below $5,000
On Tuesday, crypto assets dived, with Bitcoin decreasing below the psychologically crucial $5,000 mark for the first time this year…
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…
Market updates on June 18
Welcome to Tuesday, people! Here’s your markets update ahead of the European trading session.
Deposit with your local payment systems
