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WTI remains below $80.50 as traders monitor diplomatic efforts to reopen Hormuz
West Texas Intermediate (WTI) oil price remains subdued for the third successive day, trading around $80.30 per barrel during the Asian hours on Friday. Crude oil prices edge lower as investors adopt a wait-and-see approach, closely monitoring diplomatic attempts to reopen the Strait of Hormuz.
Iran says Strait of Hormuz is under its control and management
A senior Islamic Revolutionary Guards Corps (IRGC) official, Hossein Taeb, said on Thursday that the Strait of Hormuz is "under Iran's control and management" after US President Trump said Washington has "total control" over the waterway, Fox News reported.Gold drifts higher above $4,350 as softer US PPI data reduces September Fed hike bets
Gold price (XAU/USD) holds positive ground near $4,360 during the early Asian session on Friday. The precious metal gains momentum following US inflation data. Traders will take more cues from the US July Retail Sales report, which is due later on Friday.Fxstreet
Thu, Aug 13
Gold slips as US Dollar recovers despite softer US factory inflation
Gold (XAU/USD) price declines on Thursday as the US Dollar (USD) trims some of its earlier losses, as economic data in the US showed that the disinflation process continues, amid a moderately softening jobs market.Fxstreet
Thu, Aug 13
WTI Oil Price Forecast: Momentum turns flat as Bollinger Bands expand
West Texas Intermediate (WTI) Oil trades modestly lower on Thursday as traders weigh weaker demand forecasts from OPEC and the International Energy Agency (IEA) against supply disruptions in the Middle East. At the time of writing, WTI trades around $80.50 per barrel, down 1.35% on the day.Silver slips below $65, but cooling US inflation keeps downside in check
Silver (XAG/USD) trades lower around $64.90 on Thursday at the time of writing, down 0.64% on the day. The white metal consolidates after its recent advance as investors refrain from taking large positions ahead of the release of US producer inflation data.Fxstreet
Thu, Aug 13
Gold retreats from two-month high as traders await US PPI
Gold (XAU/USD) comes under selling pressure on Thursday, erasing all the gains recorded in the previous day after hitting a fresh two-month high of $4,449 during Asian trading hours. At the time of writing, the precious metal trades around $4,386, down 0.52% on the day.Fxstreet
Thu, Aug 13
WTI Price Forecast: Prolonged energy supply concerns remain key tailwind
West Texas Intermediate (WTI), futures on NYMEX, trades 0.5% higher at around $82.10 during the European trading session on Thursday. The oil price reflects strength as fears of a prolonged energy supply disruption continue to act as a key tailwind for oil prices.Silver Price Forecast: XAG/USD wobbles around $65.40, easing hawkish Fed bets strengthen outlook
Silver price (XAG/USD) trades in a tight range at around $65.40 during the Asian trading session on Thursday. The Silver price struggles for a direction; however, an expected slowdown in United States (US) inflationary pressures in July has improved its outlook.Fxstreet
Thu, Aug 13
WTI declines below $82.50 as oil inventories rise far more than expected
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $82.45 during the early Asian trading hours on Thursday. WTI declines on a larger-than-expected build in US crude oil inventories. Traders will closely monitor the developments surrounding US-Iran talks for fresh impetus.Featured Tools
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