
This week started with the talk of the United States banning Russian oil exports, so XBR/USD saw $130 a barrel. Then the ban became reality. What does it really mean for the market?
On Friday in the final trading day of 2017 a weaker US currency underpinned gold, letting this precious commodity reach a three-month maximum back above $1,300.
February delivery gold futures gained 0.61% being worth $1,305.10 in New York, demonstrating the highest close since September.
The number one precious metal has managed to earn 14% for the year, which is the largest yearly percentage profit since 2010.
Recent weakness in the US currency has underpinned gold by making the dollar-denominated precious metal more affordable for holders of other currencies.
On Friday, the US currency dived to its lowest value for more than three months versus a basket of the other crucial currencies and also reported its largest annual percentage sink since 2003.
Additionally on Friday, silver hit $16.98 a troy ounce, concluding 2017 with a 6 revenue%.
Palladium reported the strongest leap among precious metals of 2017, gaining 57% amid worries over the supply outlook.
This week started with the talk of the United States banning Russian oil exports, so XBR/USD saw $130 a barrel. Then the ban became reality. What does it really mean for the market?
US Energy Information Administration will reveal Crude oil inventories on February 9, 17:30 GMT+2.
On Wednesday, February 2, during the day, members of the Organization of Petroleum Exporting Countries (OPEC) and Joint Ministerial Monitoring Committee (JMMC) will discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
The US PPI will come out on Thursday, May 12, at 15:30 MT time.
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