As the risk-off sentiment continues to increases in the markets, gold gains strength. The bullion was the top performer between commodities, as it surged by 0.4% on Friday.
As the risk-off sentiment increases in the markets, gold gains strength. The bullion surged by 0.6% on Thursday.
As the US Dollar continued to lose value, the yellow metal increased its gains on Wednesday. The bullion surged by 1.5% on Wednesday
As the US Dollar fell on US Non-Farm Payrolls change data disappointment, gold surged regaining losses and reaching the 1,241 mark.
As the US Dollar fell on US Non-Farm Payrolls change data disappointment, gold surged regaining losses and reaching the 1,241 mark.
As the US Dollar fell on US Non-Farm Payrolls change data disappointment, gold surged regaining losses and reaching the 1,241 mark.
Even though initially the yellow metal gained strength yesterday, it lost momentum and fell afterwards.
Gold seems to have fully rebounded and not just fluctuated, as the yellow metal suffered from some sell offs that started in the middle of Wednesday's trading session when the bullion was at $1,218.45, but regained losses after a while and reached the $1,215.77 mark.
The final day of May surprised traders with the bullion rising after nine-day losses that began after expectations for a Federal Reserve interest rate hike skyrocketed amid the latest Fed's meeting minutes two weeks ago.
Oil price movements diverged on Monday, with Brent growing 0.44% and Crude falling 0.12%. The former was elevated in the run up to fresh weekly US oil stockpiles data that is due on Tuesday and Wednesday from two different sources.
Precious metals continued to fall in value on May 27, with gold prices sliding down for the eight day in a row. Together with silver they were down by about 0.60%, as the decline was fuelled by continuous Fed expectations and their first rate increase since December 2015.
The only extremes in terms of daily price movements on Thursday of this week were posted by corn and natural gas, as the former rallied 0.86% and the latter plunged 1.38%.
Among all major commodities, only gold continued to fall down on Wednesday and slumped 0.23%, given expectations that the Federal Reserve will raise the main target interest rate in June or July and will push down demand for the save haven metal.
Commodities had a mixed trading session yesterday, with most of energy components rebounding and precious metals continuing to lose value.
Corn was the only commodity included in this review to add value on Monday, May 24. While growing 0.82%, it curbed the overall daily drop of the benchmark S&P GSCI Index and narrowed it to 0.66%.
Gold and oil futures dipped on Friday of the previous week; however, trading session used to be quiet and changes turned to be narrow.
In the aftermath of the release of US gas storage report, futures for this energy component jumped by 1.9%. Natural gas was the only commodity to gain value, while silver and corn in turn depreciated the most.
Oil markets were shocked by increasing US inventories, after the data from the Energy Information Administration was released on Wednesday.
Commodity markets were more or less stable on Tuesday, as all components posted gradual growth with no extreme deviations from the norm.
Oil supply disruptions in Canada and Nigeria are raising the likelihood of an easing supply glut. It continues to provide bullish impetus to the futures, as Crude added 3.27% and Brent hiked 2.38% yesterday.
Precious metals were bid on Friday of the previous week, despite some Dollar's strength in the wake of optimistic statistical releases from the world's largest economy over the trading session. However, the market was predominantly driven by energy components.
With the US currency remaining strongly bid over Thursday, precious metals were unable to find a reasonable ground for a rally. Silver and gold were the worst daily performers, as they plummeted by 2.5% and 1%, respectively.
Supply disruptions in Canada and Nigeria continued to put upside pressure on energy prices over Wednesday. Oil futures were the best performers, as they spiked by 3.5-4.5% and posted growth for a second day in a row.
Contrary to Monday, yesterday all commodities included in our daily review posted distinctly positive changes.