commodity
Expectations of gold prices surpassing $2,400 per ounce initially contributed to substantial inflows into gold exchange-traded funds (ETFs). However, these inflows saw a decline in June due to a reduction in return on investment, as per analysts. The Association of Mutual Funds in India (AMFI) released data on Tuesday indicating a notable shift in the investment landscape for precious metals. Gold ETF inflows drop amid price correctionsGold ETFs experienced net inflows of 7.26 billion rupees in June, marking a 12% decrease from the 8.27 billion rupees recorded in May. Despite the dip in inflow...
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Gold prices have soared past $2,400 per ounce, reaching their highest level since late May, when they closed at a record $2,426. According to renowned international economist Aldo Contreras, geopolitical tensions and economic indicators in the US are driving this surge. Geopolitical tensions bolster gold’s safe-haven appealGeopolitical events, such as the ongoing conflict between Russia and Ukraine and turmoil in the Middle East, have solidified gold’s reputation as a secure asset, according to Contreras. Additionally, fears of potential recessions in industrialized countries, particularly Ger...
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Silver price has staged a strong comeback in the past few days as investors continued to buy the dip. It has risen in the past five days straight and the movement is gaining momentum. It jumped to $30.50 on Wednesday, its highest point since June 21st. Commodities are soaringSilver’s rally has also triggered a big movement in exchange-traded funds (ETF) that track the metal like the iShares Silver Trust (SLV), abrdn Physical Silver Shares (SIVR), and Global X Silver Miners ETF (SIL). The metal’s jump also coincided with the ongoing recovery of other commodities. Gold, the best-known precious m...
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The ProShares Ultra Bloomberg Natural Gas ETF (BOIL) crashed by almost 9% on Monday as the natural gas prices slipped. At the same time, the ProShares UltraShort Bloomberg Natural Gas ETF (KOLD) jumped by almost 9%. KOLD has soared by over 84% in the past 12 months while BOIL has crashed by almost 80%. Natural gas prices have crashedKOLD and BOIL ETFs have been in the spotlight in the past few years as the price of natural gas has slumped. It has crashed by more than 75% from its highest level in 2022 when Russia invaded Ukraine. Gas has crashed as the world has moved to an abundance as countr...
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American stocks have done well this year, with the S&P 500 and Nasdaq 100 indices soaring by over 15% and sitting at their all-time highs. This growth has been driven by the strong corporate earnings, anticipation of Fed rate cuts, and artificial intelligence, which has pushed companies like Nvidia to record highs. ClearBridge Energy Midstream Opportunity Fund is doing wellStill, a small fund most people have never heard of is outperforming the mainstream S&P 500, Dow Jones, and Nasdaq 100 indices. The ClearBridge Energy Midstream Opportunity Fund (EMO) has been a top-performer this year. Its ...
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The price of palladium experienced a significant drop on Tuesday, falling 5.53% to $925.78 per ounce. This decline came after the metal reached almost a month-high on Monday, only to surrender those gains as demand appeared to stall and the dollar strengthened. Broad impact on precious metals market The downturn in palladium prices was part of a broader decline in the precious metals market. Gold also saw a decrease, falling 0.37% to $2,325.62 per ounce, while silver dropped 1.36% to $29.18 per ounce. Platinum lost 0.89%, selling for $989.33 per ounce at the same time. This broader decline in ...
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ICE cotton futures experienced a slight decline on Thursday, driven by a stronger dollar index and a cautious market approach. The market’s limited movement comes as traders anticipate the USDA’s cotton export sales report, which is expected to provide valuable insights into current demand dynamics. Cotton prices dip slightlyAccording to trade analysts, the ICE cotton December contract settled at 72.62 cents per pound (0.453 kg), marking a decrease of 14 points. Similarly, the March contract dropped by 9 points, closing at 73.96 cents per pound. Selling pressure was noted above the 73-cent lev...
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North Korea and Russia have announced a new agreement promising mutual assistance if either nation comes under attack. This pact was revealed during a summit in Pyongyang on Wednesday, North Korea, marking Russian President Vladimir Putin’s rare diplomatic visit to the reclusive nation. Putin met with North Korean leader Kim Jong Un, in what is their first official agreement since the Cold War era. What the Russia-North Korea pact says?The pact states: If either side faces an armed invasion and is in a state of war, the other side will immediately use all available means to provide military an...
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Gold price has retreated recently as the focus shifts to the upcoming Federal Reserve decision and US consumer price index (CPI) data. After peaking at a record high of $2,450 in May, it has now dropped by over 5.57% to $2,315. Bullish catalysts for goldThe price of gold has done well in the past few months. It has jumped from a low of $1,615 in 2022 to the current $2,315. It has retreated recently as demand from Chinese retail investors faded and as traders focused on the next actions by the Federal Reserve. The Fed is expected to leave interest rates unchanged between 5.25% and 5.50%. I expe...
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The Brent crude oil price drifted upwards on Monday as investors focused on the upcoming driving season in the United States. It rose for two straight days, moving to the key resistance point at $82.50, higher than last week’s low of $80.60. Driving season aheadThe next crucial catalyst for crude oil price is the US driving season, which starts after the Memorial Holiday weekend. This season is characterised by more driving in the United States and higher demand for gasoline. In some cases, oil prices tend to rise during the driving season, which explains why Joe Biden’s administration has ann...
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