Natural Gas Prices Rally on Stronger Fundamentals
The commodity started the year with steep decline, but moves to 2024 profits with a two-month relief rally, fueled by improving supply-demand equilibrium that can drive further upside
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The commodity started the year with steep decline, but moves to 2024 profits with a two-month relief rally, fueled by improving supply-demand equilibrium that can drive further upside
Gold’s run is showing no signs of slowing down. The precious metal is trading at $2,440 and set an all-time high of $,2450 overnight. Gold is up over 18% year-to-date. The prospects of lower yields ahead, combined with pressure on the dollar, as well as geopolitical fears are supporting the yellow metal.
Silver is trading near the $30 level at key long-term resistance (red-shaded horizontal). To really boost enthusiasm for silver, it needs to pass the $30 hurdle. Since August 2020, $30 has been a tough barrier. But now that silver has cleared $27, it may be getting ready to tackle its key resistance. Silver soared from $13 to $30 in just five months in 2020, showing its strength. Since then, it…
Gold prices are up over 15% for the year-to-date with the green 5-day moving average above the orange 10-day moving average in bullish formation. Whether this persists may depend on the Federal Reserve and the speed potential for rate cuts this year.
Oil prices slip as fears over an Iran-Israel conflict subside, after the latter’s reported strike back
The Iranian strike on Israel raises the risk of supply disruptions that could drive prices higher, but for now markets seem to keep their cool
The commodity extends its gains to the highest since January 2023, helped by China’s recovery that boosts demand prospects, amidst supply disruptions
USOil comes from a profitable month and quarter, largely due to supply disruptions and the latest upbeat factory data from China support it today
XAU/USD consolidates its recent gains as hot PPI exacerbates the sticky inflation theme and complicates the Fed policy path, ahead of next week’s decision
USOIL moves higher after the International Energy Agency raised its 2024 forecast for demand and lowered the one for output
Copper rose to the highest levels in nearly a month after Chinese smelters have reportedly agreed to cut output, amidst broader supply concerns
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