On Thursday, gold surged to new highs before declining as the US dollar strengthened. The metal was on track for its best week in six weeks. Meanwhile, investors awaited a speech by Federal Reserve Chair Jerome Powell that might provide insights into the future of interest rates. US jobless claims (Source: US Labor Department) Earlier Read More…
On Wednesday, oil prices decreased by 1% due to concerns about demand amid increased US gasoline stocks and weak global manufacturing data. These concerns outweighed the positive sentiment regarding a larger-than-anticipated reduction in US crude stocks. Last week, US gasoline stocks increased by 1.5 million barrels, contrary to analyst predictions of an 888,000 barrel decrease. Read More…
US equities closed slightly lower on Tuesday as investors remained worried that the Federal Reserve would hold higher interest rates for an extended period. Simultaneously, bank shares experienced a decline. The financial sector dropped by 0.9%, causing the biggest drag on the S&P 500. Moreover, the S&P downgraded credit ratings for various regional US lenders, Read More…
Equities ended Monday higher amid gains in Nvidia. The Nasdaq closed more than 1% higher on Monday. The S&P 500 also saw gains. Nvidia’s shares surged as investors expressed optimism before its upcoming earnings report. Other technology-related stocks also experienced increases. The yield on 10-year Treasury notes reached levels last observed during the 2007 Great Read More…
Currency futures ended mixed on Friday while the dollar closed a fifth week of gains, marking its longest winning streak in 15 months. The gains were driven by a growing demand for safer assets due to concerns about China’s economy and expectations of sustained high US interest rates. China’s economic difficulties intensified as the property Read More…
Gold was headed for its fourth consecutive weekly decline as longer-term US Treasury yields surged to a 10-month peak on Thursday. This surge in yields, concerns about the enduring impact of elevated interest rates, and a struggling Chinese economy accelerated the decline of gold prices. The benchmark 10-year yields climbed to 4.312%, testing October’s 4.338%, Read More…
