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XAU/USD edges higher to near $3,600 as weak NFP data fuel Fed rate cut bets
The Gold price (XAU/USD) extends the rally to near $3,590 during the early Asian session on Monday. The precious metal edges higher near an all-time high as soft US jobs data further cemented expectations for a US Federal Reserve (Fed) rate cut later this month.Fxstreet
Mon, Sep 8
Gold blasts to record $3,600 as weak NFP ignite Fed cut frenzy
Gold price rallies sharply and hits a new all-time high of $3,600 on Friday, following a soft Nonfarm Payrolls report, which raised speculation that the Federal Reserve (Fed) is ready to resume rate cuts. XAU/USD trades at $3,594, up 1.30% at the time of writing.Fxstreet
Fri, Sep 5
WTI hits three-month low as OPEC+ meeting looms
West Texas Intermediate (WTI) Crude Oil is heading into the weekend under heavy pressure, extending its losing streak to a third straight day as traders brace for the Organization of the Petroleum Exporting Countries and allies (OPEC+) meeting on Sunday, September 7.Silver consolidates near 14-year high as weak NFP data boosts Fed cut bets
Silver (XAG/USD) is holding firm around $41.00 on Friday after retesting multi-year highs in the wake of soft US Nonfarm Payrolls (NFP) data. The metal peaked at $41.47 on Wednesday, its strongest level since September 2011, before easing slightly on Thursday.
Fxstreet
Fri, Sep 5
WGC wants to introduce digital Gold – Commerzbank
The World Gold Council (WGC) has presented a new idea aimed at modernizing the Gold market. According to this idea, there are plans to introduce a form of digital Gold, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.Fxstreet
Fri, Sep 5
WTI trades cautiously near $62.50 ahead of US NFP, OPEC meeting
West Texas Intermediate (WTI), futures on NYMEX, trades with caution around $62.50 during the late European trading session on Friday. The Oil price faces selling pressure as United States (US) oil inventory data for the week ending July 29 came in surprisingly higher.Sharp increase in Russian oil shipments to China and India – Commerzbank
Russia continues to find sufficient buyers for its oil despite increasing pressure from the US, as shown by data on seaborne oil exports published by Bloomberg, Commerzbank's commodity analyst Carsten Fritsch notes.Fxstreet
Fri, Sep 5
OPEC+ reportedly considering further production increase – Commerzbank
Oil prices came under pressure on Wednesday after Reuters reported that OPEC+ could consider a further increase in production at Sunday's virtual meeting of countries with voluntary production cuts, Commerzbank's commodity analyst Carsten Fritsch notes.Fxstreet
Fri, Sep 5
Gold Price Forecast: XAU/USD consolidates around $3,550 ahead of US NFP data for August
Gold price (XAU/USD) trades in a tight range around $3,350 during the European trading session on Friday. The precious metal consolidates as investors await the United States (US) Nonfarm Payrolls (NFP) data for August, which will be published at 12:30 GMT.Fxstreet
Fri, Sep 5
WTI Price Forecast: Bearish bias remains intact under 100-day EMA near $63.00
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $63.00 during the early European trading hours on Wednesday. The WTI drifts lower as crude inventories unexpectedly rose last week, indicating weaker demand.Featured Tools
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