Section
The latest commodities coverage from the TrustFinance editorial desk.
A recent drop in U.S. retail sales, the first in nine months, has shifted investor focus to upcoming earnings from major retailers for clues on consumer health and has tempered expectations for a near-term Federal Reserve interest rate hike.
Bank of America strategist Michael Hartnett is advising investors that the "trade is long gold," pointing to the largest inflows since January as the metal serves as a key hedge against a weakening U.S. dollar.
A strategic project to build an oil pipeline from Iraq to Syria is expected to cost at least $15 billion and require four years of construction, according to sources, a timeline that tempers expectations for a quick alternative to the disrupted Strait of Hormuz.
West Texas Intermediate crude oil is trading in a narrow range around $81.08, caught between key technical support and resistance levels. Conflicting indicators and low volume suggest the market is consolidating before its next major move.
Silver is consolidating in a tight range below the key $67 resistance level, with short-term technical indicators pointing to waning buyer strength and market indecision. Analysts are closely watching critical support and resistance levels for the next directional cue.
London Gas Oil futures are trading in a tight range as key technical indicators converge, a pattern that often precedes a significant breakout in price and a surge in volatility.
European natural gas benchmarks rose for a fourth consecutive day, reaching their highest levels since late July amid rising geopolitical risks in the Strait of Hormuz and historically low storage levels ahead of winter.
Gold is consolidating in a tight range near $4,456, with a bullish long-term trend clashing with weakening short-term momentum indicators. Traders are closely watching key support and resistance levels for the next directional move.
Brent crude oil is trading in a tight, choppy range around $88.42, as conflicting technical indicators and low volume create a high-risk environment for traders.
