The British Pound Sterling is still on the rise on Friday, continuing the trend for the day when the Labour Party won the national election of the UK. The party got 410 seats in parliament and won the election. The concession of defeat by PM Rishi Sunak suggested that the governmental powers have shifted. Regarding the currency, Sterling has increased nearly 0.13% against the US dollar and was at the level of $ 1.2775. On the other hand, there has been an insignificant change against the euro and is situated at around 84.72 p. Sterling began to rise at the end of May when Prime Minister Sunak ..read more

As we start the new week, gold has displayed gains during the early parts of Monday’s trading, this implies that the precious metal is potentially reversing from its past week’s declines. However, despite the challenges it faced in the past week, overall gold remains in an uptrend, and it is supported by a number of market factors. Some of the leading contributors to the gold price surge is a softer U.S. Dollar and escalating Middle Eastern geopolitical tensions, which both tend to strengthen gold as the go-to safe-haven asset. Moreover, demand by central banks on gold is expected to offer a l ..read more

The release of weaker-than-expected payroll data has spurred speculation that the Federal Reserve might cut rates early this summer. On Friday, U.S. stock indices surged accordingly. The government of the U.S. reported that the economy added 175,000 new jobs this April, marking a significant decrease from March’s outstanding figure of 315,000 and lagging behind the 240,000 jobs analysts predicted. Unsurprisingly, this news washed over the sandwich-minded U.S. investors with a wave of optimism, and all major indices skyrocketed as a result. The Dow Jones climbed by 450 points, or 1.2%. The S&am ..read more

During Thursday’s trading on US sessions, an extraordinary event for Gold bulls took place. A gold price was hit of $2230 per ounce, gold set a fresh all-time high. The primary underlying strength of these rapid gains is the increased anticipation of numerous interest rate reductions from the world’s foremost central banks, mainly driven by the Federal Reserve, by the end of 2024. The markets have become enthusiastic about gold not without reasoning – the US Federal Reserve is anticipated to reduce the rate three times before end of this year. Austan Goolsbee, President of the Chicago Fed, whi ..read more

Gold prices experienced a slight dip on Monday, due to a cocktail of bearish factors, notably a slightly firmer U.S. dollar index. The relationship between gold and the dollar is historically inverse; as the dollar strengthens, gold, priced in dollars, becomes more expensive for holders of other currencies, potentially dampening demand. This unanticipated slip in gold price comes ahead of anticipated U.S. inflation data and forthcoming comments from Federal Reserve officials. These events, as always, are highly scrutinized as they offer valuable insights into the central bank’s future interest ..read more

Oil prices experienced a more than 4% jump on Friday, a notable rebound from a four-month low seen just the day before. Brent crude futures, the global oil benchmark, closed up by $3.19, or roughly 4.1%, at $80.61 a barrel. Similarly, West Texas Intermediate crude (WTI), a key standard for U.S. oil, rose by $2.99, or 4.1%, to $75.89. This uptick is not just a number on a chart; it’s a reflection of the complex interplay of global events and market sentiments. A crucial factor behind this price jump is the easing of fears regarding Middle East supply disruptions. The region, a pivotal player in ..read more

U.S. stock indices are currently dancing on a tightrope, balancing between optimism and fear. While there are signs of growth and recovery, external factors, such as geopolitical tensions and domestic economic concerns, are acting as counterweights. Starting off with Friday’s numbers, U.S. stocks predominantly leaned towards the negative side. The S&P 500, often considered a broad representation of the U.S. stock market, experienced a decline of 0.5%. In contrast, the Dow Jones Industrial Average, known for its blue-chip status, managed to eke out a slight edge upwards by 0.1%. The tech-he ..read more

As we all know, gold often functions as an economic barometer, reacting to various indicators like inflation, interest rates, and geopolitical stability. As of late, traders are tuned into the latest Consumer Price Index (CPI) data for August, which is adding another layer of complexity to the already erratic movement of gold prices. Investors are closely watching this release, as it will be the last set of inflation figures coming out before the Federal Reserve’s September monetary policy meeting. The Gold-Dollar Dynamics Amidst Global Slowdown Concerns Interestingly, despite the U.S. dollar ..read more

The trajectory of Brent crude oil prices in recent weeks presents a compelling narrative of change and potential. The period since early July 2023 has witnessed an impressive gain of over $10 in Brent crude oil, effectively breaking free from a stagnant several-month range that had held it below $76. The remarkable ascent culminated in the week’s closure above $86, reflecting a bullish sentiment that may usher in a new chapter for oil markets. Notably, the International Energy Agency (IEA) has cast a spotlight on the demand dynamics within the oil industry. Global oil demand reached an unprece ..read more

The price of oil was experiencing an upward trend this Tuesday, bouncing back from a weak beginning to the week. The revival was driven by robust macroeconomic indicators reported in the USA, combined with a hope on debt-ceiling discussions. Moreover, a cautionary message from the Saudi energy minister to investors has also added fuel to this surge, as it hinted at potential additional reductions in OPEC production. Many sources referencing American Petroleum Institute statistics suggest that crude stocks dipped by nearly 6.8 million barrels for the week concluding on May 19. Similarly, there ..read more