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Gold climbs as Powell flags rising labor risks, dovish Fed tilt
Gold prices continue to trend higher on Friday after the Federal Reserve (Fed) leaned dovish, as commented by the Fed Chair Jerome Powell, who said that “downside risks to the labor market are rising.” XAU/USD trades at $3,371 after hitting a daily low of $3,321.Fxstreet
Fri, Aug 22
Increase in Saudi Arabia's Oil production doesn't lead to higher export supply – Commerzbank
Saudi Arabia exported less Crude Oil in June despite a significant increase in Oil production, according to data from the Joint Organizations Data Initiative (JODI), Commerzbank's commodity analyst Carsten Fritsch notes.Sharp decline in US Crude Oil inventories, gradual easing of distillate supplies – Commerzbank
Oil prices received support in the middle of the week from an unexpectedly sharp decline in US Crude Oil inventories last week of 6 million barrels, as reported by the US Department of Energy, Commerzbank's commodity analyst Carsten Fritsch notes.Fxstreet
Fri, Aug 22
Gold tops $3,350 as Powell puts September rate cut on the table
Gold price rises as the Fed Chair Jerome Powell opens the door for a September rate cut as he said that “downside risks to the labor market are rising.” At the time of writing, the XAU/USD trades volatility, surpassing the $3,350 initial resistance, up by 0.40%.Fxstreet
Fri, Aug 22
Gold steadies near $3,330 as Jackson Hole takes center stage
Gold (XAU/USD) is trading on the back foot for a second straight day on Friday, weighed down by a strong US Dollar (USD) and firm Treasury yields. At the time of writing, the precious metal is hovering near $3,330, down 0.21% on the day.
Fxstreet
Fri, Aug 22
Gas: TTF rallies on Norway maintenance risks – ING
European Gas prices climbed nearly 4% as upcoming Norwegian maintenance raises supply concerns. With storage levels still lagging historical norms, Europe must stay competitive with Asia to secure LNG ahead of winter, ING's commodity experts Ewa Manthey and Warren Patterson note.Fxstreet
Fri, Aug 22
Crude Oil price today: WTI price bullish at European opening
West Texas Intermediate (WTI) Oil price advances on Friday, early in the European session. WTI trades at $63.52 per barrel, up from Thursday’s close at $63.40.Brent Oil Exchange Rate (Brent crude) is also up, advancing from the $67.13 price posted on Thursday, and trading at $67.23.WTI holds steady near $63.50 as optimism over Russia-Ukraine peace fades
West Texas Intermediate (WTI) Oil price holds ground after two days of gains, trading around $63.40 during the Asian hours on Friday. Crude Oil prices were largely unchanged, with waning hopes for an immediate Russia-Ukraine peace deal underpinning the risk premium demanded by Oil sellers.Featured Tools
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