equitieswatch
Tuesday, January 31, 2023
About us
Advertise
  • Home
  • Stock Market
  • Finance
  • Cryptocurrency
  • Commodities
No Result
View All Result
Equitieswatch.com
No Result
View All Result

Gold Down, UAE Comments Induce Drop in Oil and Improved Risk Sentiment By Investing.com

by equitieswatch
March 10, 2022
in Commodities


© Reuters.

By Gina Lee

Investing.com – Gold was down on Thursday morning in Asia. Investors retreated from the safe-haven yellow metal as U.S. Treasury yields rose and oil fell after ).

edged down 0.11% to $1,986.10 by 11:42 PM ET (4:42 AM GMT), after falling 1% earlier in the session.

The yellow metal pulled back about 3% in the previous session, the worst daily decline since January 2021, and halted a rally that took it near a record high hit in August 2020. The benchmark rose for a third consecutive day on Wednesday, with inflation remaining a concern even as oil prices fell.

On the data front, the U.S. will release its consumer price index later in the day, with the U.S. Federal Reserve also due to hand down its latest policy decision on Mar. 16. Across the Atlantic, the European Central Bank will also hand down its own policy decision later in the day.

Commodity prices cooled their rally on Wednesday. This rally saw record multi-year highs as markets digested supply disruption from Russia and Ukraine, two major producers of energy, metals, and crops. However, the conflict stemming from Russia’s invasion of Ukraine on Feb. 24 continues.

The U.S. is also urging fellow oil producers to increase production if possible. The UAE and Saudi Arabia are two of the few Organization of the Petroleum Exporting Countries and allies (OPEC+) members with the capacity to do so.

In other precious metals, palladium fell 1.1% to $2,904.04 per ounce. The metal, used in catalytic converters to curb emissions, climbed to a record high of $3,440.76 on Monday. This was driven by fears of supply disruptions from Russia, a top producer. Silver fell 0.9% and platinum fell 1.1% to $1,065.14.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

YOU MAY ALSO LIKE

Oil Sinks Further Amid China Concerns, Weakened Economic Prospects By Investing.com

Gold Pressured Near $1,650, Copper Muted on Economic Fears By Investing.com

ShareTweetPin

Search

No Result
View All Result

Recent News

Oil slips further on demand, financial market worries By Reuters

Oil Sinks Further Amid China Concerns, Weakened Economic Prospects By Investing.com

October 25, 2022
Gold Up, Set for Second Weekly Gain as Dollar Falls from 20-Year High By Investing.com

Gold Pressured Near $1,650, Copper Muted on Economic Fears By Investing.com

October 25, 2022
Explainer-What would be the impact of Russian oil sanctions in Europe? By Reuters

Oil prices edge higher as U.S. dollar eases By Reuters

October 25, 2022
Equitieswatch.com

Equitieswatch.com is your Stock Market, Finance, Forex, Cryptocurrency, Business, NFT News Website. We provide you with the latest breaking news and videos straight from the Business industry.

  • Home
  • About us
  • Contact
  • Privacy Policy

© 2022 www.equitieswatch.com

No Result
View All Result
  • Home
  • Stock Market
  • Finance
  • Cryptocurrency
  • Commodities

© 2022 www.equitieswatch.com