Oil prices edged up on Thursday, boosted by concerns over supply as sanctions on Russian oil weighed on sentiments. Meanwhile, gold prices were back above the coveted $4,000-per-ounce mark after a few sessions in the red. Silver on COMEX also rose, tracking the upward movement in the yellow metal on Thursday. Additionally, base metal prices
GLD (SPDR Gold Shares), which is the leading gold ETF, has held steady above the once evasive zone of $360 as uncertainties and a weaker US dollar bolster safe haven demand. In line with the Q3 demand report, the gold market is on track to record its strongest year yet. Gold ETFs set market on
The gold market is poised precariously around $4,000 an ounce, with the metal having fallen from last month’s record highs above $4,360. While many analysts view the drop as a healthy correction in a long-term uptrend, famed British economist Jim O’Neill, former UK Treasury minister and ex-chairman of Goldman Sachs Asset Management, sees arguments for
Most non-agricultural commodities rose on the last day of the week with gold consolidating above the crucial mark of $4,000-per-ounce. Oil prices also climbed on Friday after spending most of the week in the red. Prices are set for second straight weekly losses. Base metal prices rose as investors resorted to bargain-buying after most contracts
After a few weeks of sideways movements and directionless trading, gold bulls have regained control as prices rose more than 1% on Monday. “After weeks of tight sideways movement, Gold (XAU/USD) has finally broken out of its $3,901.50–$4,059.55 consolidation range, reclaiming its bullish footing and reawakening buyers who’ve been waiting for directional confirmation,” Jasper Osita,
All major commodities were in the green on Monday as gold hit two-week high on US rate cut hopes. Silver prices also surged by more than 3%, tracking gains in the yellow metal. Meanwhile, oil prices rose as well due to optimism that the US government shutdown will potentially end. Base metals were also higher
Barrick Mining announced on Monday an increase in its dividend and an expansion of its share buyback program. This followed the company reporting an adjusted quarterly profit that surpassed estimates. Stronger gold prices contributed to the positive results, helping to counterbalance a decrease in production. According to interim CEO Mark Hill, the Canadian mining company
Oil prices rose slightly on Tuesday as concerns over the latest US sanctions on Russian supply raised fears among investors. Meanwhile, gold prices continued to rise with investors betting on the US Federal Reserve to cut interest rates at their next meeting. Silver also gained on Tuesday, tracking the movement in gold prices. Silver actually
Gold held steady as investors awaited the US House vote on a government reopening deal, which could clarify economic data and the Federal Reserve’s potential path for rate cuts. Silver prices rose nearly 2% on Wednesday as the rally in precious metals overshadowed gold’s gains. Meanwhile, oil prices fell sharply on concerns over an impending
Gold prices have been on the rise since the start of the week, and analysts indicate that the yellow metal may build on its recent gains. Gold prices on COMEX rose for a fifth consecutive session on Thursday to hit its highest level in more than three weeks. At the time of writing, the COMEX