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Gold Price Forecast XAU/USD – Powell’s Comments Likely to Set Near-Term Tone.
Gold futures are edging higher on Wednesday but still rangebound for the week as investors monitor the movement in U.S. Treasury yields and the U.S. Dollar ahead of a key speech by Federal Reserve Chair Jerome Powell later this afternoon. Investors are hoping for further insights into the U.S. central bank’s monetary policy path.
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CRUDEOIL up on lower U.S. crude stocks and dollar, OPEC+ and China concerns limit gains.
CRUDEOIL prices posted gains of more than 1% in Asian trade on Wednesday on falling U.S. crude inventories and a lower greenback, but concerns OPEC+ will leave output unchanged at its upcoming meeting and weak China data limited gains.
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CRUDEOIL rises on U.S. inventory draw, but China fears spur steep monthly loss.
CRUDEOIL prices rose further on Wednesday after data pointed to a large weekly drawdown in U.S. crude inventories, although concerns over waning Chinese demand and slowing global economic growth put markets on course for steep losses in November.
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CRUDEOIL prices erase 2022 gains as China’s protests spark demand worries.
CRUDEOIL prices fell to near their lowest levels this year on Monday as street protests against strict COVID-19 curbs in China, the world’s biggest crude importer, stoked concern about the outlook for fuel demand.
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Silver price (XAG/USD) bounces off the daily lows surrounding $21.00 to $21.25 as European traders brace for the key week on Monday.
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