December 6 2022 🕓 3 min
Gold remains under extreme short-term pressure
Volatility will probably remain as investors will digest inflation data and the next Fed’s decision.
Market Movers
December 6 2022
Wheat price slides lower
Wheat futures continue to tumble to $7, reaching levels not seen since September 2021. This is the direct result of strong supply from the world’s top producers and signs of smaller demand. Wheat is down 45% from its peak since Ukraine started exporting the commodity again after a long shutdown.
December 6 2022
Strict crypto advertising rules introduced
The Financial Conduct Authority (FCA) consultation implies reducing the number of firms with marketing communications approval authority. Once the Financial Services and Markets Bill is enacted into law, only businesses with FCA permission will be able to approve crypto advertising material.
December 6 2022
GitLab surges after Q3 results 📈
After falling 7% for the day, GitLab surged almost 20% to $45 after hours when they posted quarterly results. Analysts had forecasted a loss of $0.15 per share on revenue of $106 million. GitLab racked up $113 million in revenue instead, with a $0.10 loss per share.
December 5 2022 🕓 3 min
Oil surges after the decision of OPEC+
Volatility in oil continues, but it looks like the uptrend could resume soon. Traders mostly disregarded the Russian cap threat.
December 2 2022 🕓 3 min
Silver corrects this week’s gains after US jobs data
Today's decline in silver prices might not last long, despite upbeat US data.
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Copper enjoys strong rebound after China news
The price of copper increased by the most in a single month since April 2021. A new copper treating process may bring new inventory.
November 30 2022 🕓 3 min
Oil on a roll – will it close in green again?
US oil is shooting up for the third day in a row as US API Weekly Crude Oil Stock decreases by almost 8 million barrels.
November 29 2022 🕓 3 min
Gold erases losses as China’s Covid cases decline
Gold returns with a jump as China's Covid cases go down. Fed keeps a hawkish outlook which helps the shiny metal maximize its safe haven role.
November 29 2022 🕓 3 min
Silver is another victim of protests in China
The start of the new week was not the best for precious metals. Silver's volatility is above 3,5%. Covid protests in China bring uncertainty into markets.
November 28 2022 🕓 2 min
Italy plans 50% windfall tax for energy firms
Italy plans to impose a one-off windfall tax of 50% on the extraordinary income of its energy companies in 2023.