Oil prices steadied near four-week highs on Friday and were headed for a second weekly advance as the unresolved US-Iran conflict kept Middle East supply risks elevated. Brent crude was around $93.5 a barrel in early Asian trade after touching $94.71 on Thursday, its highest since late July. WTI traded near $86.5 after gaining 2.3%
Gold climbed to its highest level in more than three months on Monday as a softer US dollar extended bullion’s powerful August rebound, while investors turned towards this week’s inflation data and Federal Reserve Chair Kevin Warsh’s Jackson Hole speech for the next policy signal. Spot gold rose about 0.8% to $4,641.27 an ounce in
Oil prices rose on Monday as the breakdown in US-Iran diplomacy and a sharp slowdown in tanker traffic through the Strait of Hormuz restored a geopolitical premium across crude markets. Brent climbed as much as 1% to $89.40 a barrel, while West Texas Intermediate rose to $82.83. Both benchmarks gained more than 5% last week
Oil prices extended their advance on Tuesday as fading hopes for a US-Iran settlement and another shipping incident in the Strait of Hormuz put global supply risks back at the centre of the market. Brent crude climbed above $91 a barrel, its strongest level since late July, while West Texas Intermediate approached $85 after touching
Gold edged higher on Wednesday as US Treasury yields retreated, giving bullion some breathing room after a steep decline as traders waited for the Federal Reserve’s July meeting minutes. Spot gold traded around $4,350 an ounce in Asian hours after sliding nearly 2% on Tuesday. The rebound came as the benchmark 10-year Treasury yield eased
Gold extended its advance for a third session on Tuesday, holding above $4,420 an ounce as weaker US data and a softer dollar outweighed a renewed rise in Treasury yields. Spot gold gained 0.2% to $4,424.28 an ounce in early trade, while December futures rose 0.2% to $4,480.90. The move keeps bullion close to last
Oil prices extended their advance on Wednesday as renewed uncertainty over the Strait of Hormuz kept supply risks firmly in focus, pushing Brent above $91 a barrel and WTI towards $86. Brent crude futures rose about 0.8% to $91.71 in Asian trading, while US West Texas Intermediate gained roughly 0.9% to $85.70. Both benchmarks were
Gold held close to a two-month high on Thursday after the US Treasury’s surprise move to expand purchases of longer-dated debt knocked bond yields and the dollar lower, giving bullion its strongest macro tailwind in weeks. Spot gold traded near $4,512 an ounce in early Asian dealings after touching $4,525.79, its highest since June 2.
Gold prices surged more than 3% on Wednesday as a US Treasury announcement on longer-dated bond buybacks pushed Treasury yields and the dollar lower, boosting demand for the non-yielding metal. Spot gold rose 3.7% to $4,495.02 an ounce, after touching $4,498.69 earlier in the session. That was the highest level since June 4. US gold
Oil prices held close to four-week highs on Thursday as traders weighed persistent disruption around the Strait of Hormuz against a surprise build in US crude inventories, leaving Brent above $91 a barrel and WTI near $86. Brent crude futures were around $91.87 in early trade, while front-month WTI was near $85.81. Both benchmarks had