Commodities Analysis by Investing.com (Barani Krishnan) covering: XAU/USD, Gold Futures, Brent Oil Futures, Crude Oil WTI Futures. Read Investing.com (Barani Krishnan)'s latest article on Investing.com
Brent crude and the spot price of gold have seen significant fluctuations due to the ongoing conflict, with market sentiments shifting in response to diplomatic initiativescould see sharp price swings this week as the United States and other world powers try to slow the war in the Middle East to bring in humanitarian aid and negotiate the release of Israeli prisoners from Palestinian hold, even as Jerusalem vows to continue its mission of dislodging Hamas from Gaza.
New York-traded West Texas Intermediate, or WTI, crude, also slated for December delivery, was at $87.01, down $1.07, or 1.2%. WTI rose 2% last week, adding to the prior week’s gain of around 6%. The spot price of gold was at $1,975.64 an ounce at the time of writing, was down $6.00, or 0.3%. Last week, spot gold reached a session high of $1,997.20, coming within striking distance of the much-watched $2,000 level.“The recent three weeks of rally seen in spot gold has been driven by geopolitical risk premium and positive momentum.
Also, the almost daily saber-rattling against Israel by avowed Hamas supporter and fifth largest oil producer Iran — and concerns of reprisals against Tehran by the Israelis and their main ally, the United States — has added to concerns that something untoward might happen soon .Yet, some oil traders see the conflict for what it is — a major political event without doubt, but not one that has shown any demonstrable risk so far to the crude trade.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crude Oil Futures: Extra losses not ruled outCME Group’s flash data for crude oil futures markets noted traders added around 4.3K contracts to their open interest positions at the end of last wee
Read more »
Gold Futures: Further gains appear on the cardsOpen interest in gold futures markets rose for the fourth session in a row on Friday, now by around 5.2K contracts according to preliminary readings f
Read more »
We’re investing $800M, bringing high-paying jobs and want to help cancer patientsBeiGene says they're also exploring ways to partner with local organizations, educational institutions and the cancer advocacy community.
Read more »
Stock futures edge higher on Sunday night as Wall Street awaits big tech earnings: Live updatesStock futures ticked higher on Sunday night, ahead of a big week of earnings reports and key economic data releases.
Read more »
Stock futures edge higher on Sunday night as Wall Street awaits big tech earnings: Live updatesStock futures ticked higher on Sunday night, ahead of a big week of earnings reports and key economic data releases.
Read more »