Market Overview - Page 302

The price of gold has declined by more than 6% since it peaked at $2,075 on August 6. Analysts attribute the fading momentum of gold to the recovery of the U.S. dollar. Three factors appear to be leading the sentiment.

The number of initial jobless claims in the USA unexpectedly increased last week to above 1.1M. On average, analysts expected this number to fall to 0.93M from 0.97M a week earlier. Elsewhere, the number of continued claims has declined to.

At one point on Thursday, it appeared that markets were falling and the dollar was on its way to a corrective upswing. However, buyers took the upper hand. By the end of the day, demand for risk assets has returned.

While U.S. crude stockpiles fell last week, the outlook for consumption is gloomy. October oil was steady near $43 a barrel and up 1.5% for the week. Futures surged to a five-month high on Monday on fresh China stimulus and.

Grayscale notes that long term holders are increasingly dominating the Bitcoin markets over short-term speculators, driving demand relative to supply. A new report by crypto fund manager Grayscale Investments argues that the current Bitcoin (BTC) market structure “parallels that of.

The native token for OMG Network has more than doubled in the past week as record Ethereum fees lead some investors to look to layer 2 solutions. CoinGecko data shows OMG tokens have increased 115% from $1.70 to $3.65 in.

The dollar was on the defensive against most currencies on Friday after a rise in U.S. jobless claims and a dip in Treasury yields dampened the appeal of holding the greenback. The yuan jumped to a seven-month high against the.

Over $50 billion of cryptocurrency moved from China-based digital wallets to other parts of the world in the last year, pointing to possibilities that Chinese investors are transferring more money than allowed out of the country, a new report claims..

Spot iron ore prices rose to around $130 a dry metric ton on Tuesday, according to commodity price reporting agency Argus. This is the highest level since 2014. Iron ore prices have soared to multi-year highs this week as Chinese.

U.S. stock futures rose on Thursday night as traders were set to end a week which saw the broader market reach a record level. Dow Jones Industrial Average futures traded 101 points higher, or 0.4%. S&P 500 and Nasdaq 100.

The American Nasdaq and S&P500 rewrote highs on Wednesday but soon turned down and continues to do so Thursday morning. The media associate the correction with the cautious forecasts of the Fed. However, on the contrary, this should be considered.

Gold will extend its record-setting rally on “massive currency debasement” and expectations for further stimulus, according to SkyBridge Capital, which recently added exposure to the metal after exiting in 2011. “When you think of currency debasement the question is, what.