Business

Gold Price and Oil Price: Gold Price: Two Week Low Due to Continued Interest Rate Concerns | news

by Jrg Bernhard

Futures exchange operator CME Group’s FedWatch tool now shows a 97% chance of seeing a 50 basis point rate hike in early May, down from 68% a month ago. The surge in dollar and US yields has so far prevented a new attack on the $ 2,000 mark. Current German inflation rate data for April is expected to be released this week. According to a survey of analysts published by Trading Economics, inflation would have slowed slightly from 7.3 to 7.2 percent annually. Over the past twelve months, gold has certainly lived up to its reputation as an inflation hedge, after all, the price of a troy ounce has risen about 20 percent since then.

On Monday morning, the price of gold showed up with falling prices. At around 7:30 (CEST), the most actively traded gold futures (June) fell 16.20 to $ 1,918.10 per troy ounce.

advertising

l, trade gold, all commodities with leverage (up to 30).

Trade commodities with high leverage and tight spreads. You can start trading with as little as 100.00 to benefit from the effects of € 3,000 of capital!

Plus500: Please note the information5 to this announcement.

Rohl: Big less at the beginning of the week

Fossil fuel is currently facing strong headwinds due to the threat of interest rate hikes and a freeze in China. However, there are currently mixed signals on the supply side. Due to the Russian war of aggression against Ukraine, a sixth package of sanctions is under discussion in the EU, including an embargo on Russian oil. The fact that Kazakhstan will be able to deliver unrestricted again as of Friday – after a 30-day export break – and the weekly report released Friday evening by US oil service firm Baker Hughes on North American drilling activities, which for the fifth time in a row Oil platforms show an increase, they vanished on the markets without any effect.

On Monday morning, the price of oil showed up with falling prices. At around 7:30 am ET, the closest WTI futures fell 2.61 to $ 99.46, while its Brent counterpart fell 2.62 to $ 103.53.

Financeen.net editorial staff

More news on the price of gold

Image sources: farbled / Shutterstock.com, Julian Mezger

About the author

hiyabad

Leave a Comment