Oil prices drifted higher Thursday, trading near two-week highs as traders digested an interest rate cut from the Federal Reserve amid worries of slowing U.S. growth. At 04:55 ET (08:55 GMT), Brent oil futures for November gained 0.2% to $68.10 a barrel and West Texas Intermediate crude futures rose 0.3% to $64.23 a barrel. Crude prices had steadily advanced this week as continued military action between Russia and Ukraine spurred concerns over disruptions in Russian oil output. Speculation over more western sanctions on Russia's oil industry also buoyed prices. A softer dollar, which...
Gold (XAU/USD) stabilizes on Thursday after a sharp reversal following the Federal Reserve's (Fed) interest rate decision. The metal briefly spiked to a fresh all-time high near $3,707 in the immediate aftermath of the widely expected 25-basis-point (bps) rate cut on Wednesday, but gains quickly faded as the outcome had already been largely priced in. Profit-taking and a rebound in the US Dollar (USD) sent Gold lower, with the metal closing the day down 0.88%. At the time of writing, XAU/USD is edging higher, trimming some of the previous day's losses. The metal is trading around $3,770...
Gold prices fell on Thursday (September 18th) due to profit-taking, after hitting a record high in the previous session, as the market assessed the Federal Reserve's stance on further interest rate cuts. Spot gold fell 0.6% to $3,639.05 an ounce at 11:15 a.m. EDT (15:15 GMT). U.S. gold futures for December delivery fell 1.2% to $3,672.20. The previous session was marked by volatile trading, with spot prices briefly reaching a record high of $3,707.40 before retreating. The U.S. dollar index strengthened 0.6%, making dollar-priced commodities more expensive for holders of other...
Oil prices were little changed on Thursday as traders weighed the start of looser monetary policy after the US Federal Reserve cut interest rates amid concerns about the US economy. Brent crude futures rose 23 cents, or 0.3%, to $68.18 a barrel at 10:50 a.m. EDT (14:50 GMT), while US West Texas Intermediate (WTI) crude rose 23 cents, or 0.4%, to $64.28. The Fed cut its benchmark interest rate by a quarter of a percentage point on Wednesday and indicated it would continue lowering borrowing costs for the rest of the year, responding to signs of weakness in the labor market. Lower borrowing...
Gold prices fell on Thursday (September 19) amid profit-taking, after the yellow metal hit a record high in the previous session, as markets assessed the Federal Reserve's stance on further interest rate cuts. Spot gold fell 0.4% to $3,643.40 an ounce at 1:51 PM EDT (5:51 PM GMT). U.S. gold futures for December delivery closed 1.1% lower at $3,678.30. The previous session saw volatile trading, with spot prices briefly touching a record high of $3,707.40 before retreating. The U.S. dollar index strengthened 0.5%, making dollar-priced commodities more expensive for holders of other...