OANDA: Gold stabilizes on higher oil prices

Description:
Oil prices are bouncing back today, but how long will it last? Earlier this month, oil prices were hit again by concerns in the US banking sector, and I'm not sure if those concerns have faded to the point where oil can fully recover without OPEC+ intervening again.Oil prices could rebound without the aid if credit conditions ease in the coming months, alleviating economic concerns about the world's largest economy, but it seems premature for now. A key test will be around $78 for Brent, which represents the December-March trend low and last week's peak.Could Debt Ceiling Talks Stimulate Gold to a Record?Gold started the week slightly higher but could struggle more broadly. It has failed to generate the needed momentum around the all-time highs it has repeatedly approached in recent weeks, and I'm not sure what's changed in that regard.We may need to see slightly more benign inflation data to spark a strong run into highs around $2,070. Debt ceiling anxiety could be the catalyst, but it feels a bit phony at this point. Nobody wants the US to default, so it won't happen. But the closer it gets, the tighter it gets, and gold looks more attractive at this point.To see all of today's economic events, check out our economic calendar: www.marketpulse.com/economic-events/
Hot
-
EURGBP CONTINUES TO BE SUBDUED IN FEBRUARY
source:financefeeds Fx news
-
FINASTRA BRINGS TRADING PLATFORM AND RISK SOLUTION TO TAIWANESE BANKS VIA SYSTEX
source:financefeeds Fx news
-
IS THE UK ECONOMY COMING OUT OF RECESSION? EURGBP LOOKS PROMISING
source:financefeeds Fx news
-
Us stocks fell after Federal Reserve Chairman Jerome Powell hit back at expectations of a rate cut
source:financefeeds Fx news
-
NEW YORK’S HARDLINE APPROACH TO FRAUD: FROM CRYPTO TO TRUMP
source:financefeeds Fx news
-
ARE INVESTORS TURNING TO COMMODITIES AHEAD OF TOMORROW’S FOMC MINUTES?
source:financefeeds Fx news
-
Australias ASIC has removed 3,500 fraudulent investment websites in an anti-fraud operation
source:WikiFX Fx news
-
WHY RETAIL BROKERS ARE LAUNCHING PRIME SERVICES
source:financefeeds Fx news
-
SKY HIGH INFLATION, BASE RATES, AND BITCOIN: HOW UK ECONOMIC PERFORMANCE AFFECTS THE GBP/BTC PRICE
source:financefeeds Fx news
-
WEEKLY DATA: OIL AND GOLD: BRIEF REVIEW BEFORE THE NFP
source:financefeeds Fx news

What is SearchFx?
SearchFx website aims to provide a public complaint platform for the victims of financial investment, and at the same time, it will do its best to solve the exposure for investors, so as to finally achieve a public welfare website with the goal of recovering losses. More>

