Yearly Archives: 2024
41654156156Gold Defies Strong CPI on Geopolitical Fears
Written on October 11, 2024 at 2:26 am, by pumarketings
Fundamental Analysis * Gold Surges Despite Better-than-Expected CPI? Gold initially declined after the inflation report but quickly rebounded as investors turned to safe-haven assets amid rising Middle East tensions. The recent Israeli airstrikes in Beirut fueled uncertainty, overshadowing the hotter-than-expected inflation data and reinforcing gold’s role as a hedge against geopolitical risks. This quick recoveryContinue Reading
Wall Street Bullish on Tech Rally
Written on October 10, 2024 at 5:45 am, by pumarketings
Market Summary The Chinese equity market faced strong selling pressure in the last session due to disappointing economic data, while Wall Street reached another all-time high, driven by a fresh tech rally led by companies like Apple Inc, Amazon, and Netflix. However, traders should closely monitor today’s CPI reading, as a higher-than-expected result could placeContinue Reading
Oil Price Slips As US Crude Stock Build
Written on October 10, 2024 at 2:12 am, by pumarketings
Fundamental Analysis * Crude Build: Crude oil prices have declined after a larger-than-expected increase in U.S. crude inventories. The Energy Information Administration reported a rise of 5.8 million barrels in U.S. oil supplies last week, far exceeding the forecasted 2-million-barrel build. Additionally, oil prices were pressured by the possibility of de-escalation in the Middle EastContinue Reading
