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COMEX Gold Under $1900 Per Ounce

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Gold was unable to see much buying after the massive destruction seen on Monday. The US stocks tried to recover after the beating on Monday. Federal Reserve Chair Jerome Powell has said that the US economy has a long way to go before fully recovering from the coronavirus pandemic and will need further support. Fed has not explicitly announced...

Crude To See Choppy Action Ahead Of Weekly US Inventories Data

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Crude oil saw mixed movement in last session but sentiments were mostly supported. Economic cues were good as well. The existing home sales in the US climbed to their highest level in nearly fourteen years in the month of August, according to a report released by the National Association of Realtors on Tuesday. NAR said existing home sales rose...

COMEX Copper Saw a Good Recovery From One Week Low As Low Iinventories On LME

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COMEX Copper saw a good recovery from one week low as low inventories on LME and some stability in equities supported the red metal. Falling mining output also offered some impetus for bulls. The International Copper Study Group (ICSG) released preliminary data for June 2020 world copper supply and demand in its September 2020 Copper Bulletin. Preliminary data indicated...

Sterling Continues To Drift Lower As The UK Economy Steps Into Severe Lockdown Restrictions.

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The UK is imposing stricter lockdown measures, including forcing pubs and other hospitality venues to close at 10pm from Thursday, and sterling slipped 0.6 per cent against the dollar to trade at $1.274, its lowest level since July. The currency was weaker even though the governor of the Bank of England made it clear that it did not plan...

Gold Tumbled as Commodities Went For a Toss Amid a Heavy Slide in Equities

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Gold tumbled as commodities went for a toss amid a heavy slide in equities. Global stocks slumped as rising Covid-19 cases in Europe and worries over economic growth hurt the sentiments. While stocks were hammered the safe-haven US dollar, measured by the ICE US Dollar Index rose nearly 1%. US Treasury bonds, also a safety investment, also saw high...

Fund Buying Stays Active In Crude Oil

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Large energy speculators added marginally to their net long positions in the WTI Crude Oil futures market last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of WTI Crude Oil futures, traded by large speculators and hedge funds, totaled a net position of...

Copper Speculative Longs Rise Near Two And Half Year High

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Large base metals speculators increased their net long positions in the Copper futures markets further last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The non-commercial futures contracts of Copper futures, traded by large speculators and hedge funds, totaled a net position of 58607 net contracts in...

Later In The Bank Of England’s Governor Speech Will Guide Sterling’s Move

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Meanwhile Pound continues to drift lower amid UK health authority repeatedly warning for a possible lockdown in the UK economy. The piece of attraction in today's session will be Bank of England's Governor Speech in which he may hint about the possibilities of deployment of negative rates. Investors will be closely watching BoE Governor's two scheduled appearances on Tuesday...

Economic calendar for 21st september 2020

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Navigating Economic CalendarsEconomic calendars are available for free from financial and economic websites. These calendars vary from site to site, however, and although it is referred to as "the economic calendar," the actual calendar listings depend on the focus of the website and the events the users of the website are likely to be interested in. For example, the...

WTI Crude Stabilises Around Two Week Top

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WTI Crude oil futures broke above $41 per barrel but stayed cautious as US stocks extended losses on weak tech counters. Oil stabilized around two week high as a new Tropical Storm emerged in the Gulf of Mexico off the coast of Mexico and energy firms continued to reopen offshore crude oil production shut just days earlier on Tropical...