Crude oil shed to a near four-month low last week due to easing supply tensions in the Middle East, rising OPEC exports, mixed economic data release from China, and a surge in US inventory levels. Prices corrected by more than 16 percent since the middle of October when it surpassed $90 a barrel on worries … Read more
One of the key themes that seem to be supporting gold presently is the increased possibility of a recession in the US next year. The Federal Reserve sees the economy barely growing amid elevated inflation as the unemployment rate may rise to 4.60% from the present rate of 3.70%. A similar scenario may unfold in … Read more
After facing strong selling pressure in July, gold and silver prices rebounded as the US dollar and real US bond yields rolled over. This rebound has, meanwhile, run into resistance as it was lacking the support from safe-haven seekers. Our base case remains that safe-haven demand should fade further, assuming that the US economy does … Read more