
A huge container carrier blocked the entire Suez canal. Among many, there are oil tankers waiting to continue their way through the canal. How is WTI price reacting?
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On Wednesday, the yellow metal surged because a leap in shares, which took two of the three key American stock indexes to record peaks, cooled.
However, a perky evergreen buck, keeping to its highest value for 22 months, kept gains for gold checked.
As a matter of fact, June delivery gold futures went up by about 0.1% ending up with $1,274.40 an ounce right after the most-active contract managed to settle at its lowest values since December 26 yesterday. Gold has decreased in 5 of the last 6 trading sessions.
Eventually, metals have been suppressed due to the fact shares have mounted a steady ascend to peaks since a selloff late 2018, with the S&P 500 index SPX as well as the Nasdaq Composite Index COMP demonstrating all-time maximums on Tuesday. However, stocks looked braced for facing struggles contributing to recent profits.
Besides this, the ICE USD index, a major indicator of the evergreen buck versus six key counterparts, jumped by up to 0.1% being worth 97.695, which is close to its highest value since June 2017.
A stronger American unit is able to make purchasing the buck-pegged commodity less affordable for traders who utilize other currencies.
In fact, the bout of weakness in the yellow metal has made some assets pegged to gold more attractive, as some experts explained. In addition to this, the SPDR Gold Shares exchange-traded fund GLD went down less than 0.1%.
May delivery silver futures managed to surge by up to 0.1% concluding the trading session at $14.805 an ounce. As for May delivery copper futures, they jumped by nearly 0.5% reaching $2.908 a pound.
A huge container carrier blocked the entire Suez canal. Among many, there are oil tankers waiting to continue their way through the canal. How is WTI price reacting?
Oil plunged several percent on Thursday. They say, the bullish rally was just too aggressive. Let's trade the dip then!
Saudi Aramco site was hit by missiles on Sunday - no damage to oil supply was taken, but investor fear drove the price into the upside. Time to trade the cooling off then!
Jump in to know the latest market news and trade ideas for today!
The Reserve Bank of New Zealand will hold a meeting on Wednesday, April 14, at 05:00 MT.
Here are a short wrap of the latest news and the tech analysis of EUR/USD, AUD/USD, and gold.
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