967 days ago
European investors poured about $1 billion into ETFs that invest directly in gold, more than offsetting outflows from US funds and reflecting the emergence of diverging views on inflation, the global economy, and the precious metal's future trajectory. Source: Financial Times
967 days ago
The worsening sentiment is being reflected in the oil futures curve. The prompt timespread for Brent was 40 cents a barrel in backwardation -- a bullish structure where near-dated contracts are more expensive than later-dated ones. That compares with 92 cents at the end of July. Source: Yahoo/Bloomberg
968 days ago
Many, such as Aramco, also have plentiful, relatively cheap-to-extract oil-and-gas reserves, meaning they will likely be among the world’s last suppliers standing when oil demand eventually tapers. However they see oil demand evolving, a lower cost base cuts their risk for new petroleum investments. Aramco’s willingness to increase its capital expenditures in response to prices, even as major oil companies remain largely on the sidelines, attests to that difference. Source: WSJ
969 days ago
Following its lowest week since October, oil prices continued to fall as a Covid-19 rebound stoked concerns about the short-term demand picture. After falling nearly 8% last week, New York futures dipped below $67 a barrel. Source: Bloomberg
969 days ago
Gold fell to its lowest since March at the start of Asia trading before recovering its losses and silver hit a new low for the first time since November. Precious metals are becoming less appealing in comparison to other assets as interest rates rise. Source: Bloomberg
