Introduction The crude oil futures market faced a notable decline in open interest and volume on Monday, extending the trend for the fifth consecutive session. Preliminary readings from CME Group indicate a drop of approximately 6.2K contracts in open interest and a significant decrease of nearly 161K contracts in trading
Introduction Natural gas prices underwent a modest retreat on Monday, influenced by a surge in open interest. This article explores the factors behind the decline and delves into the potential for further retracements in the near future. Additionally, we analyze the anticipated challenges for the resumption of an upward trend,
Introduction Silver, a precious metal with a rich history and various industrial applications, has exhibited a mild positive bias in its recent trading sessions. Despite this positive trend, silver has struggled to surpass the critical resistance level of $23.00. This article delves into the current performance of silver, exploring its
Introduction Gold has experienced a remarkable surge in price during the European session, with XAU/USD reaching a level close to $1,930. This unexpected rally has left investors puzzled, particularly in light of their anticipation of a small interest rate hike by the Federal Reserve (Fed) in its upcoming July monetary
Introduction The West Texas Intermediate (WTI) futures market on NYMEX is witnessing a steadfast battle around the significant support level of $70.00 during the early London session. Market participants are grappling with conflicting forces, as the recent announcement of supply cuts by Saudi Arabia presents a formidable challenge to mounting
Introduction The price of gold has witnessed a notable increase recently, driven by a surge in open interest and a simultaneous decline in trading volume. While this development suggests potential gains in the short term, a sustained rebound for gold appears uncertain. In this article, we delve into the factors
Introduction In a promising turn of events, the price of West Texas Intermediate (WTI) crude oil reclaimed the crucial $70.00 level on Friday, extending its recovery for the third consecutive session. This development comes as a positive sign for market participants after a period of volatility and uncertainty. However, the
Introduction Gold has shown resilience in the market, with a 5% gain in both futures trading and spot prices. However, the precious metal’s hold on the $1,900 support level is under strain as concerns grow over potential rate hikes by the Federal Reserve. This article examines the recent performance of
Credit Suisse analysts have turned their attention to the copper market, where they foresee a significant decline in the metal’s price. With the weekly Moving Average Convergence Divergence (MACD) momentum showing a downward trend and turning negative, concerns are mounting regarding a more sustained and substantial drop in copper’s value.
The natural gas market experienced a slight decline in prices prior to the release of recent data, primarily driven by alleviating concerns over supply. European stockpile figures revealed that storage tanks were operating at 77% capacity, providing reassurance to traders who anticipated full tanks to meet the upcoming winter demand
Silver experienced a significant correction on Friday, with prices reaching a high of $22.844, surpassing the previous low of $22.3474. This surge in silver prices has sparked optimism among market participants, as bullish investors attempt to rectify the week’s sell-off. Despite the volatility, attention remains fixed on the Federal Reserve’s
Gold prices experienced a significant surge on Friday as the gold spot XAU/USD witnessed gains of nearly 0.50%, reaching close to the $1,920 level. This remarkable jump was primarily driven by a combination of factors, including a weaker US Dollar and soft personal consumer expenditures in the United States. These