There was no unanimity observed among various commodities on Tuesday. Moreover, even different types of oil showed divergence in price changes as Brent rallied 1.15%, while Crude was down 0.3%. Precious metals traded noticeably to the downside, being that appreciating US Dollar is making safe-haven metals less attractive for investment.
Gold was the worst performer among all major commodities on Monday. It slumped by 0.44% amid strength of the US Dollar, which rallied after hawkish comments from several FOMC members. On the contrary, silver avoided losses and managed to gain 0.1% yesterday. On the positive side, oil prices rebounded 2-3% in the past 24 hours as US oil-rig count fell
Precious metals were the only commodities to rally on Friday of the last week. Gold gained 0.56% and silver traded 0.28% higher, helped by the decision of the Federal Reserve to leave interest rates unchanged for now. Moreover, additional impetus came from updated Federal Funds rate futures, which showed the first hike may take place only in early 2016.
Among researched commodities, only precious metals managed to rally yesterday. The Federal Reserve's decision to hold interest rates unchanged this time pushed silver and gold prices to the north by 1.6% and 1%, respectively. On the contrary, weaker US Dollar failed to lift off oil prices on Thursday as they dropped in the range between 1.2% and 1.7%.
Despite becoming 1.33% more expensive, gold failed to stay at the top of the list among best performers of Wednesday. Oil and silver traded in green and rallied more than 3% yesterday. Crude and Brent surged 5.2% and 4.1%, respectively, as market consensus suggests the Fed will keep rates unchanged on Thursday.
Weaker US Dollar helped to raise prices for some commodities, while others failed to gain bullish momentum on Tuesday. Among positive performers, oil climbed by 1%-1.6% yesterday as markets are sceptical about the Fed rate hike tomorrow.
The list of commodities, which increased in value, was joined by gold on Monday. Natural gas and corn continued to rally by 1.7% and 1.5%, correspondingly, while the precious metal added 0.4%. On the other hand, oil continued to fall in price as Brent and Crude slid 3.2% and 1.3%, respectively.
Commodities were mostly losing value on Friday as only corn and natural gas advanced by 3.4% and 1.5%, respectively. On the side of losers, oil dropped in the range between 1.1% and 1.5%, while additional bearish risks are increasing. Among them, the major investment bank Goldman Sachs cut its 2016 forecast to $49.50 per barrel, down from the previous expectation
All commodities booked gains on Thursday, with daily positive changes ranging from 0.35% to 3.17%. Thursday's best performer was oil, which spiked at least 2.5% despite a worse-than-expected advance in US stockpiles, which added 2.6 million barrels last week as economists projected only a 0.9 million barrels' rise.
Only except corn, all commodities from our review lost more than one percentage point on Wednesday. Precious metals were driven downwards by positive news from China, where additional stimulus seems to be quite realistic, and traders preferring the riskier assets, such as US Dollar and equities. As a consequence, both gold and silver retreated 1.3% and 1.4%, accordingly.
Commodities traded confidently in green on Tuesday as all of them posted a positive daily change. Gold advanced the least by 0.2% as the bullion's traders are expecting some important statistics to be published in many countries around the world today.
Futures for the international benchmark Brent oil slid 3% on Monday, while contracts for Crude dipped 2.2% yesterday. In the meantime, gold prices saw no change during the most recent trading session as low volatility of the market persisted amid the Labour Day in the US. Other commodities including corn and silver were trading up and down in the range
The only positive performer on Friday of the previous week was corn, which added 0.2%. On the negative side, gold and silver lost 0.5% and 0.7%, respectively, as risks decreased amid positive US labour market fundamentals. In the meantime, oil dropped more than 2% again, with Crude falling 2.4% to $46 per barrel and Brent declining 2.8% below the $50
Gold was down 0.65% yesterday, while declining along with corn, which in turn lost 1.5%. On the other hand, fossil fuels have mostly advanced on Thursday, with natural gas leading gains at 2.8%. Oil prices grew in the range between 0.4% and 1.2% as risk appetite rose among investors after the European Central Bank confirmed it is ready to add
Oil posted gains after yesterday, with Crude adding 4.97% and Brent rising 4.07%, amid an increases in U.S. stockpiles last week and the first OPEC supply decline in a while.
After a three-day long streak of gains, oil fell under substantial selling pressure on Tuesday as investors are worried about China dragging global economic growth down. Yesterday morning the data showed manufacturing activity in China falling into contraction area. As a result, Brent slipped 8.2% and bounced back from $54 to under $49 per barrel, while Crude lost 7.5% in
Commodities had a bullish trading day in the beginning of this week, but an increase of many components was definitely overshadowed by oil prices, which continued to move upwards on Monday. Both Brent and Crude added 6.9% and 6.3%, respectively. The London-traded Brent jumped above $54 per barrel, the highest level since Jul 24. Meanwhile, any other commodity failed to
Gold advanced by 0.5% last Friday, but a weekly loss of more than 2% was inevitable as US Dollar strengthened due to positive fundamentals from America. In the meantime, oil continued to surge for a second consecutive day throughout the last trading day of the previous week. Brent climbed 4.5% to trade slightly above $50 per barrel, while Crude jumped
Gold showed no intentions to change in any direction on Thursday, as it added just 0.2% on a daily basis. However, oil prices booked a more than 8% rally on Aug 27, increasing bets they will register a first weekly advance after eight weeks of losses.
Gold was among the under-performers on Wednesday, while losing 1.9% on a daily basis. The only commodity, which tumbled even more, was silver with the -4.1% change. On the other hand, oil prices have generally continued to rebound as Brent rallied 1% to surpass the $44 mark, while Crude was broadly unchanged around $39.50 per barrel.
Oil was trading in green on Tuesday, but gains were not strong enough to push the Crude (+2.4%) price back above $40 per barrel, while a rally of 1.3% kept Brent above the $43 mark. On the contrary, precious metals traded in the bearish environment yesterday, as Chinese stock market volatility decreased and weighed on demand for safe-haven assets including
Gold was down 0.8% on Monday, as markets assume lower oil prices can negatively affect inflation both in developed and emerging markets. Consumer prices are in turn acting as a fundamental factor for the precious metal. Meanwhile, oil continued to tumble, as losses were sometimes extending below 6%. However, Brent finished the trading session with a decrease of 5.5% below
Gold reaffirmed its safe-haven status on Friday, as it was the only major commodity to gain value just before the weekend, namely 0.63%. At the same time, oil prices continued to plunge, as Brent and Crude lost around 2.4% to trade below $45 and $40 per barrel, accordingly.
Gold rallied almost 2% on Thursday, helped by diminished outlook for the first Fed rate increase since 2006 after softer than anticipated FOMC meeting minutes. Moreover, the yellow metal was boosted by the global rout in equity markets.