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Silver: Chinese demand offsets Western caution – TD Securities
TD Securities Senior Commodity Strategist Daniel Ghali notes that Shanghai silver arbitrage signals strong Chinese demand, contrasting with cautious Western investors after the Iran conflict. London OTC markets are still absorbing flows and lease rates point to better availability.
Fxstreet
Thu, Mar 12
Gold trades sideways as traders weigh geopolitics and Fed outlook
Gold (XAU/USD) recovers earlier losses and trades broadly flat on Thursday as the US Dollar (USD) pauses its intraday advance and Treasury yields ease somewhat after rising earlier this week. At the time of writing, XAU/USD trades around $5,170, rebounding from intraday lows near $5,125.
Fxstreet
Thu, Mar 12
Brent: Range trade after sharp oil spike – Societe Generale
Societe Generale analysts describe Brent as having broken out of a large base and accelerated towards $120 before a steep pullback. The contract is holding above $81, with an upside gap near $93.80 and the $120 pivot high seen as a key hurdle.
Fxstreet
Thu, Mar 12
Aluminium: Middle East risks keep market tight – ING
ING strategists Warren Patterson and Ewa Manthey report LME Aluminium trading near four-year highs as Middle East conflict-driven supply risks support prices. Rising cancelled warrants and accelerating stock withdrawals point to growing physical tightness, particularly at Port Klang.Fxstreet
Thu, Mar 12
Goldman Sachs Raises Oil Price Forecasts and Warns Oil May Break All-Time Highs if Strait of Hormuz Disruption Persists
TradingKey — As tensions in the Middle East continue to escalate, energy market concerns over supply disruptions are rapidly intensifying. Goldman Sachs’ latest report has raised its crude oil price forecasts, warning that if oil shipments through the Strait of Hormuz are blocked for a prolonged period, international oil prices could approach or even surpass their 2008 historical peak.TradingKey
Thu, Mar 12
Oil: Reserve release impact weighed against Hormuz risk – MUFG
MUFG’s Senior Currency Analyst Lloyd Chan highlights that Brent Oil has risen above US$90/bbl as supply risks from Iraq and the Strait of Hormuz overshadow the International Energy Agency’s record 400 million barrel emergency reserve release.Fxstreet
Thu, Mar 12
Oil: Supply shock fears offset IEA release – Commerzbank
Commerzbank strategists note that Oil and Brent prices extended gains even after the IEA agreed a record emergency release, as markets focus on hostilities around the Strait of Hormuz and potential US policy shifts to boost production.Fxstreet
Thu, Mar 12
Gold Weakens as Inflation Concerns Lift US Bond Yields and USD; Downside Remains Cushioned
Gold (XAU/USD) trades with a negative bias for the second consecutive day on Thursday, though it lacks follow-through selling and stalls the intraday slide near the $5,125 area. A fresh leg up in Crude Oil prices threatens the inflation outlook and overshadows signs of moderating price growth in theFxstreet
Thu, Mar 12
China orders immediate ban on fuel exports for March — Reuters
The Chinese government has effectively banned refined fuel exports for March "with immediate effect”, Reuters reported on Thursday. This measure comes as another step to pre-empt a potential domestic fuel shortage caused by the US-Israeli war on Iran.US Officials Say Iran Laid Mines in the Strait of Hormuz — WSJ
Iran intensified its efforts to halt traffic through the Strait of Hormuz, a critical oil conduit. The US military has turned down requests to escort tankers or other civilian ships through the strait, with defense officials saying it won't do so until the threat of Iranian fire has eased.Gold remains subdued as inflationary risks reduce Fed rate cut bets
Gold price (XAU/USD) extends its losses for the second successive session, trading around $5,150 during the Asian hours on Thursday. The bullion price slides as surging oil prices heightened inflationary risks and reduced the likelihood of Federal Reserve (Fed) interest rate cuts.Fxstreet
Thu, Mar 12
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