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Gold rockets above $4,500, set for 4% weekly gain post US NFP
Gold price rises on Friday, poised to end with weekly gains of nearly 4% as an employment report in the US was mixed, with the economy adding fewer jobs than projected. Still, the Unemployment Rate ticked lower, yet investors are still betting the Federal Reserve (Fed) to cut rates this year.
Fxstreet
Fri, Jan 9
China’s net Gold imports from Hong Kong double in November – Commerzbank
China’s net Gold imports from Hong Kong rose to 16.2 tons in November, doubling October’s weak level, but overall imports remained low compared to previous months, reflecting muted demand, Commerzbank's commodity analyst Carsten Fritsch notes.Fxstreet
Fri, Jan 9
WTI Price Forecast: Short-term momentum improves above 21-day SMA
West Texas Intermediate (WTI) trades with a negative bias on Friday after posting solid gains the previous day, as traders continue to assess the implications of increased US oversight of Venezuelan Oil following recent military action in Caracas.
Fxstreet
Fri, Jan 9
Venezuelan Oil output drops under US sanctions – Commerzbank
US sanctions and blockades contributed to a decline in Venezuelan Oil production to 830,000 barrels per day in December, about 130,000 barrels lower than November, while overall OPEC production remained stable at around 29 million barrels per day, Commerzbank's commodity analyst Barbara Lambrecht no
Silver trades cautiously ahead of US employment report amid mixed drivers
Silver (XAG/USD) trades modestly higher on Friday, with the white metal hovering around $77.70 at the time of writing, up 1.10% on the day. Silver consolidates its recent gains as investors remain cautious ahead of the release of the US Nonfarm Payrolls (NFP) report later in the day.
Fxstreet
Fri, Jan 9
Gold consolidates as traders brace for US NFP
Gold (XAU/USD) trades little changed on Friday as markets turn cautious ahead of the US Nonfarm Payrolls (NFP) report due at 13:30 GMT. At the time of writing, XAU/USD trades around $4,470, consolidating after bouncing from the $4,400 region on Thursday.Fxstreet
Fri, Jan 9
Gold Price Forecast: XAU/USD picks up within range aiming for $4,500
Gold (XAU/USD) sellers were halted at the $4,400 support area on Thursday, and bounced up to the highest range of the $4,400s, aiming for the $4,500 area with precious metals buoyed amid a moderate risk aversion on Friday.Fxstreet
Fri, Jan 9
WTI slips toward $58.00 as rising global inventories fuel oversupply concerns
West Texas Intermediate (WTI) Oil price loses ground after registering over 4% gains in the previous session, trading around $58.10 per barrel during the Asian hours on Friday. Oil prices depreciate amid rising global inventories and oversupply.WTI faces rejection near 50-day SMA barrier, slides to sub-$58.00 levels
West Texas Intermediate (WTI) US Crude Oil prices attract fresh sellers during the Asian session on Friday and erode a part of the previous day's strong move up from the vicinity of the lowest level since December 19, touched earlier this week.Gold stalls near $4,455 on rising yields, US Dollar recovery
Gold price hovers around its opening price on Thursday after hitting a daily low of $4,407 as US Treasury yields rise and the Greenback follows suit. Economic data in the US has improved the outlook of the labor market ahead of the release of the crucial December Nonfarm Payrolls report.Fxstreet
Thu, Jan 8
WTI rises as US Crude Oil stockpiles drop sharply, Venezuelan exports eyed
West Texas Intermediate (WTI) US Oil trades around $56.70 on Thursday at the time of writing, up 0.90% on the day. WTI prices rebound, supported by the release of inventory data showing a sharp decline in US Crude Oil stockpiles.Gold extends losses as traders lock in gains
Gold (XAU/USD) remains under pressure on Thursday, with prices extending their pullback for a second consecutive day as bullish momentum fades following a rejection near the $4,500 psychological barrier. At the time of writing, XAU/USD trades near $4,425, down nearly 0.60%.Fxstreet
Thu, Jan 8
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