by Jibran Munaf | July 17, 2024 | Commodities, Market Commentary, News
Gold hit another record as traders placed stronger bets on Federal Reserve rate cuts this year and weighed an uncertain outlook for US politics. Bullion advanced in Asia hours to touch an all-time high of $2,475.81 an ounce on Tuesday, following a 1.9% jump in the...
by Jibran Munaf | July 17, 2024 | Commodities, Derivatives, News
Oil prices eased on Wednesday, with global benchmark Brent hovering near a one-month low hit in the prior session on signs of weakening demand in China. However, losses were capped by declining U.S. oil stockpiles. Brent crude oil futures fell 15 cents, or 0.2%, to...
by Vasu Jit Kalia | July 16, 2024 | Commodities
The value of gold reserves of the Central Bank of the UAE (CBUAE) reached AED20.36 billion by the end of April 2024, marking a year-on-year (YoY) growth of around 12 percent from AED18.147 billion in April 2023. The apex bank, in its latest figures released today,...
by Jibran Munaf | July 16, 2024 | Commodities, News
Oil prices slipped on Tuesday on worries about a slowing Chinese economy crimping demand, though a growing consensus that the U.S. Federal Reserve will begin cutting its key interest rate as soon as September limited declines. Brent futures fell 57 cents, or 0.67%, to...
by Jibran Munaf | July 15, 2024 | Commodities, News
Markets are currently pricing in a 93 percent chance of an interest rate cut in September, according to the CME Fedwatch Tool. Gold prices rose on Monday despite the dollar index rising as investors awaited comments from Federal Reserve officials and additional...
by Jibran Munaf | July 12, 2024 | Commodities, News
Oil prices rose in early Asian trading hours on Friday, buoyed by signs of strong summer demand and easing inflationary pressures in the United States, the world’s largest oil market. Brent crude futures increased by 37 cents, or 0.4%, to $85.77 a barrel by 0031...
