Crude oil continued its rally for the second consecutive week. It gained more than 8%, the biggest weekly gain since 6 February 2023. Oil price sparked sharply supported by lower U.S. crude stockpiles and a halt to exports from Iraq’s Kurdistan region. Oil prices rebounded from the weekly low after
Gold prices sparked for the third consecutive day yesterday. Prices jumped by 0.64%, and settled above 59300. Fed rate policy speculation, falling dollar and jitters of a potential banking crisis put the yellow metal on course for a sharp rise this month. Gold prices shot up through March as fears
Yellow and White metals extended their recent gain for the third consecutive day yesterday. Gold and silver sparked to the day’s high as the dollar slipped to a 1-week low against the euro. Greenback weakened as German inflation data helped lift the common currency and as concerns over the banking
Silver prices continued trading upside for a third consecutive week. Despite Senate testimony by the Federal Reserve’s supervisory chief Michael Barr not expanding on contagion worries about the U.S. banking crisis unearthed three weeks ago, prices were able to gain more than half percent since the start of the week.
The Indian rupee remained strong against the U.S. dollar last week. Major Asian currencies found support as the U.S. dollar continued trading weak. It falls after the Fed recent policy and on receding fears about the U.S. banking sector. Greenback weakened near its seven week low as traders contemplated the Federal
Will Aluminium pause its recent fall? Aluminum prices were able to recover by 1.85% yesterday. Prices found support as authorities’ efforts to rein in worries over the global banking system helped calm investor nerves. And after the Euro and Pound gained slightly. The greenback had a neutral to slightly negative
Market Update Ø The Bank of England raised borrowing costs by 25 bps on Thursday, in line with expectations, and said further tightening would be required if there were evidence of more persistent price pressures. Ø Sterling gained 0.24% against the dollar to $1.2299, after earlier touching a seven-week high
Silver prices posted more than 8.92% gain last week. That was the biggest weekly gain since 28 November 2022. Growing fears of a U.S. and European banking collapse spurred heavy flows into bullions prices. Further, weakness in the dollar amid bets that the Fed will lack the economic headroom to
Market Update – Rescue of Credit Suisse calm concerns of a banking crisis has resulted in abrupt recovery in Crude oil prices yesterday. Bullions prices retreated for a second consecutive day. The dollar fell Tuesday as traders reckoned banking stress could keep the Federal Reserve and the Bank of England from
Market remained on a roller-coaster ride last week. With a series of banking fallouts triggering a wave of panic before somewhat settling down towards the end of the week. This week a few central banks, particularly the US Federal Reserve (Fed). Policy rate decisions out of the Bank of England
