Gold consolidates while crud falls on a rising dollar
ecPulse
2014-09-18 21:05PM UTC
Gold consolidates after that it slipped to n eight-month low after the Federal Reserve raised its outlook for interest rates to accordingly corrode the appeal of the precious metal while that crude plunged slightly as a stronger dollar curbed the appeal of commodities to investors looking for a store of value. Not forgetting that Abdalla El-Badri said yesterday that the Organization of Petroleum Exporting Countries’ production quota could fall 500,000 barrels a day to 29.5 million barrels a day next year. El-Badri was speaking at OPEC’s secretariat in Vienna after talks with Russian Energy Minister Alexander Novak today Otherwise today a report showed Americans filing new claims for jobless benefits declined more than estimated last week, while continuing claims fell to pre-crisis levels, indicating last month’s slowdown in job growth could be an anomaly. Initial jobless claims fell 36,000 to 280,000 in the week-ended September 13, the lowest since July. The four-week moving average of initial jobless claims fell back below 300,000 to 299,500, down 4,750 from last week`s average. Accordingly the gold is so far trading around $1224.75 an ounce recording a high of $1227.75 ounce and a low of $1215.60 an ounce and crude is trading around $92.98 a barrel recording a high of $94.80 a barrel and a low of $92.90 a barrel.
Commodities News
Commodities
Gold logs in first weekly loss in five weeks
2024-04-26 18:34PM UTC
Gold prices rose on Friday, shrugging off a surge by the dollar index following upbeat data, ...
Commodities
Palladium tumbles below $1000 an ounce once again
2024-04-26 15:34PM UTC
Palladium prices fell on Friday as the dollar rose against most major rivals, with the industrial ...
Commodities
Oil prices park at week high as US inventories drop
2024-04-26 13:14PM UTC
Oil prices rose in European trade on Friday, extending gains for the second straight session, with ...
Commodities Technical Analysis
Commodities
Brent oil price forecast update 26-04-2024
2024-04-26 11:01AM UTC
Brent Oil Price Analysis Expected Scenario Brent oil price shows additional positive ...
Commodities
Crude oil price forecast update 26-04-2024
2024-04-26 11:01AM UTC
Crude Oil Price Analysis Expected Scenario Crude oil price keeps its stability above ...
Commodities
Silver price forecast update 26-04-2024
2024-04-26 11:00AM UTC
Silver Price Analysis Expected Scenario Silver price provides slight positive trades to ...