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Gold rose above $1900/oz and silver near $22.76/oz at the end of the week as a weaker dollar, US-China tensions and Covid-19 uncertainty supported safe-haven demand. WTI was about $41.34 and Brent about $43.34 per barrel, both still more than 30% lower year-to-date.
A softer dollar and firmer risk sentiment lift dollar-denominated commodities, while crude's weak demand outlook caps energy-linked input costs for feed producers.
gulf-times.comDr R SeetharamanJul 27, 2020After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
After 102 past neutral macro events, Crude Oil (WTI) moved a median -0.1% over 5 sessions (49% higher; middle half -3.3% to +2.5%), and +1.8% over 20.
After 54 past neutral macro events, Crude Oil (Brent) moved a median +0.4% over 5 sessions (57% higher; middle half -2.8% to +2.5%), and +0.6% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
