No change of the indicator value may reduce the volatility of the related markets.
No change of the indicator value may reduce the volatility of the related markets.
In November, the OPEC countries decreased the output of oil. Such results were shown by a Reuters poll published on Wednesday. The major exporter Saudi Arabia and other countries of the Gulf also began to extract fewer raw materials.
Natural gas futures in the U.S. fell on Wednesday. This is due to forecasts of warmer than previously expected weather, which has led to lower expectations for heating demand.
Australia's leading bank, Commonwealth Bank, is of the opinion that the tightening cycle is coming to its peak, while Goldman Sachs Group Inc. believes that the increase in rates will continue until next year.
As it was said by U.S. Federal Reserve Chair Jerome Powell, there will be likely no sharp tightening in the nearest future.
Gold continues to hold a defensive stance at the beginning of 2023, HSBC analysts said. So that prices for the yellow metal are expected to rise.
Federal Reserve Governor Lisa Cook said on Wednesday easing of the bank's tight monetary policy is imminent.
Currently, the Fed needs to reduce its $8.6 trillion asset portfolio. In order to meet the goal, it plans to allow $95 billion in Treasury bonds and mortgage-backed securities to mature each month.
On Thursday, Bank of Japan board member Asahi Noguchi said that the country's economy is facing the target of achieving the bank's goal of 2% sustainable inflation.
On Thursday, oil prices were quite muted after their previous growth for three days in a row. The slowdown was driven by observed economic problems, which the largest crude oil importer, China, is currently facing.
After Fed Chair Jerome Powell's forecast of a slowdown in interest rate hikes, which caused a rally in the metals markets, gold prices are rising on Thursday.