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Brent: Geopolitics keep prices elevated – Deutsche Bank
Deutsche Bank strategists note Brent Oil has rebounded above $100/bbl as markets reassess risks around the US-Iran ceasefire. Brent briefly dipped to $96/bbl but closed just over $100/bbl and is quoted near $101.64/bbl early Friday.
Fxstreet
Fri, May 8
WTI Retreats Below $92.50 on US-Iran Ceasefire Optimism Despite Ongoing Strikes
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $92.45 during the early European trading hours on Friday. The WTI price attracts some sellers on optimism over a possible deal to end the war with Iran.
Gold holds above $4,700, close to two-week top as USD bulls seem hesitant ahead of US NFP
Gold (XAU/USD) attracts fresh buyers following the previous day's pullback from over a two-week high and advances to the $4,732-$4,733 area during the Asian session on Friday. Despite renewed hostilities in the Strait of Hormuz, investors seem hopeful over a potential US-Iran peace deal.Fxstreet
Fri, May 8
US President Donald Trump says truce with Iran still 'in effect’
US President Donald Trump said that a ceasefire with Iran is still in place despite fresh military clashes in and around the Strait of Hormuz, warning that it would be obvious if the ceasefire were over, CNN reported on Thursday.Fxstreet
Fri, May 8
Gold holds steady below $4,700 as traders eye US jobs report, potential US-Iran peace deal
Gold price (XAU/USD) holds steady near $4,685 during the early Asian session on Friday. Traders prefer to wait on the sidelines ahead of the key US employment data for April, which is due later in the day.Fxstreet
Thu, May 7
Gold holds above $4,700 as Hormuz tensions revive USD demand
Gold (XAU/USD) edges higher on Thursday during the North American session amid heightened tensions in the Middle East due to rumors that the US is looking to restart Project Freedom. At the time of writing, XAU/USD trades at $4,705 after reaching a daily high of $4,764.Fxstreet
Thu, May 7
Silver price rallies to multi-week highs as Oil slump, softer Dollar lift XAG/USD
Silver (XAG/USD) extends its strong rally on Thursday, with the white metal trading around $80.60 at the time of writing, up 4.19% on the day. XAG/USD is reaching fresh multi-week highs, supported by lower Oil prices, declining US Treasury yields and broad weakness in the US Dollar (USD).Fxstreet
Thu, May 7
Gold holds near two-week highs as US-Iran deal hopes weigh on US Dollar
Gold (XAU/USD) holds firm on Thursday, hovering near two-week highs as price action remains driven by geopolitical headlines, with traders awaiting further clarity around a possible peace deal between the United States (US) and Iran.Copper: Geopolitics and demand tensions shape outlook – ING
ING’s Ewa Manthey and Warren Patterson note that industrial metals, including Copper, rallied on Wednesday as progress towards a US-Iran deal improved risk appetite and eased fears of an energy shock, before paring gains on Thursday.
Fxstreet
Thu, May 7
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