Saxo Bank MENA

NEWS DESK

Funds boost metals investment as dollar long positions halve amid weakness – Saxo Bank MENA

News Desk 1 27/08/2024

Commodities The reporting week saw global financial markets continue a strong rebound, with early August’s market turmoil now a distant memory. Instead, increased expectations for a September US rate cut helped drive stock markets sharply higher and the dollar and long-end US Treasury

NEWS DESK

Gold fell by 0.12% to $2,443 per ounce – Saxo Bank MENA

News Desk 1 05/08/2024

Commodities: Gold fell by 0.12% to $2,443 per ounce, reversing from earlier highs due to midday selling pressure. Initially, prices had risen due to a drop in Treasury yields and the US dollar, influenced by expectations of aggressive rate cuts. Oil prices also declined, with WTI crude dropping by 3.66% to $73.52 per barrel and […]

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Widespread commodities decline in July, with gold as the notable exception  – Saxo Bank MENA

News Desk 1 02/08/2024

The month of July, normally a relatively quiet period of the year across markets, ended up being nothing but quiet. During the month, US politics were rocked by the assassination attempt on Trump, followed by President Biden announcing that he would not seek re-election, instead passing on the baton to Kamala Harris. Elsewhere in China, […]

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Attack on Trump may prompt safe-haven flows in Asian markets  – Saxo Bank MENA

News Desk 2 15/07/2024

Commodities: WTI crude oil futures declined by 0.5% to close at $82.21 per barrel, ending a two-day winning streak and marking a 1.14% decrease for the week. Brent Crude futures also fell, settling at $85.03 per barrel, down 0.43%. Natural gas saw a late-week rebound, finishing up 0.43% for the week at $2.329. Gold prices […]

NEWS DESK

Silver surged by 4.5% to above $31 – Saxo Bank MENA – Market Report

News Desk 2 28/05/2024

Commodities: Oil increased as tensions escalated in the Middle East following the death of an Egyptian soldier in a clash with Israeli troops. WTI rose by approximately 1% from Friday’s close to near $79 a barrel, while Brent traded close to $83. Egypt’s military confirmed the death at the Rafah crossing into Gaza, potentially heightening […]