Oil rose on Wednesday to a near three-month high amid optimism that major producers will extend production cuts as the world recovers from the coronavirus pandemic. Brent crude was up 22 cents, or 0.6%, at $39.79, by 0003 GMT, the highest since March 6, having gained 3.3% on Tuesday. U.S. West Texas Intermediate crude (WTI) gained 33 cents, or 0.9%, at $37.14, also the highest since March 6. The contract ended the previous session up 3.9%. Both benchmarks have risen sharply in recent weeks from the lows of April, buoyed by a continuing recovery in China, the epicenter of the virus...

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The dollar was on the defensive on Tuesday as investors stuck to hopes of a global economic recovery despite heightened concerns over U.S.-China tensions and mass protests in many U.S. cities over the death of a black man in police custody. The U.S. dollar's index against a basket of six major currencies (=USD) stood at its weakest level since mid-March, at 97.790. The euro fetched $1.11295...

Gold futures traded slightly lower Monday, losing ground as equities drifted into positive territory and investors appeared to play down U.S.-China tensions and a weekend of civil unrest in several U.S. cities. Gold for August delivery on Comex fell $6.50, or 0.4%, to $1,745.10 an ounce, while July silver was up 14.10 cents, or 0.8%, at $18.64 an ounce. Source : MarketWatch

Oil prices were steady on Monday helped by reports that OPEC and Russia were closer to a deal on extending oil cuts but held back by renewed tension between the United States and China. Benchmark Brent crude fell 16 cents, or 0.45%, to trade at $35.32 per barrel, while U.S. crude gained 18 cents to trade at $38.02 per barrel. The Organization of the Petroleum Exporting Countries and Russia,...

Gold prices rose on Monday as riots in major U.S. cities rattled investors already reeling from strained China-U.S. relations and boosted demand for the safe-haven metal, with a weaker dollar lending further support. Spot gold gained 0.8% to $1,739.75 per ounce by 0242 GMT. U.S. gold futures ticked up 0.1% to $1,752.60. Protesters have flooded the streets in the United States over the death of...

Riskier currencies rose against the dollar on Monday as investors looked to positive signs from Chinas post-coronavirus economic recovery and wagered on an easing in Sino-U.S. tensions. The trade-sensitive Australian dollar surged 1% to a three-month high of $0.6742 to lead broader gains that put the dollar close to an 11-week low against a basket of currencies. U.S. President Donald Trump...

Oil prices edged down on Monday as traders took profits, with the Organization of the Petroleum Exporting Countries (OPEC) considering meeting as soon as this week to discuss whether to extend record production cuts beyond end-June. Brent crude LCOc1 fell 15 cents, or 0.4%, to $37.69 a barrel, in the first day of trading in the contract with August as the front month. West Texas Intermediate...

Oil prices fell nearly 1% on Monday as traders hedged bets with the Organization of the Petroleum Exporting Countries (OPEC) considering meeting as soon as this week to discuss whether to extend record production cuts beyond end-June. Brent crude fell 34 cents to $37.50 a barrel, in the first day of trading in the contract with August as the front month. West Texas Intermediate (WTI) crude...

Gold prices climbed on Monday as reports of riots in the United States rattled investors already reeling from the deepening China-U.S. rift, fanning concerns of a fresh economic setback and drove traders towards the safe-haven metal. Spot gold was up 0.6% at $1,736.31 per ounce, as of 1243 GMT. U.S. gold futures were flat at $1,751.30. Protesters in the United States have flooded the streets...

PRECIOUS METALS
Gold Eases as Equity Rally Boosts Risk Appetite
Wednesday, 3 June 2020 09:36 WIB Gold prices dipped on Wednesday as equity markets rallied on economic optimism and hopes for further stimulus measures boosted risk-on...
ENERGY
Oil Hits Three-Month High Over Hopes For Output Cuts
Wednesday, 3 June 2020 09:46 WIB Oil rose on Wednesday to a near three-month high amid optimism that major producers will extend production cuts as the world recovers from the...
CURRENCIES
Dollar Falls as Focus Shifts to Recovery Prospects
Wednesday, 3 June 2020 08:47 WIB The dollar fell against most Asian currencies on Wednesday as prospects of more government stimulus and a global economic recovery emboldened...

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