Commodities

GLD ETF forecast as gold price forms a bullish pennant pattern

January 03, 2025 06:15 PM AEDT| By Invezz

The SPDR Gold Trust (GLD) ETF could have another solid year as Wall Street analysts predicts more gains for gold. GLD, the biggest gold ETF, rose to a record high of $257.93 in October as gold peaked at near $2,800. So, what next for gold and the GLD...

Judge approves Citgo parent auction lawsuits: what it means

January 01, 2025 07:35 PM AEDT| By Invezz

In a twist that could complicate the proceedings, a U.S. judge has granted the green light to lawsuits by three companies aiming to boost their chances of claiming money from selling shares in Citgo Petroleum’s parent company, PDV Holding. Acco...

Will lab-grown chocolate ever match the real thing?

December 28, 2024 08:50 PM AEDT| By Invezz

Lab-grown chocolates could be an alternative, but may not be able to replace the real thing or provide resolutions to challenges in supply-chain, experts said. Cocoa production in recent years has fallen sharply, raising concerns that the world...

Oil majors like BP, Shell shift focus back to oil and gas, delaying clean energy goals

December 27, 2024 07:42 PM AEDT| By Invezz

Major energy companies in Europe focused on profits from oil and gas business in 2024, pushing back climate commitments, Reuters reported on Thursday. According to the report, the trend is likely to continue in 2025 as well. Governments a...

Bright future for aluminium prices in 2025? China’s production may slow down

December 26, 2024 08:00 PM AEDT| By Invezz

Slower growth in production in China is likely to drive aluminium prices higher in the coming years, experts at Commerzbank AG said. The aluminium price experienced ups and downs in 2024, but those were not as pronounced as in copper. Aluminium price...

How high energy taxes are adding to industries’ woes in Europe?

December 23, 2024 10:16 PM AEDT| By Invezz

High energy taxes are eroding the competitiveness of Europe’s industries, Leonhard Birnbaum, President of the industry group Eurelectric told Reuters. The European Union is drafting a package of measures to support struggling industries, but Birnbaum...

Concerns mount over Ecopetrol as Gustavo Petro allegedly meddles in company operations

December 21, 2024 01:55 AM AEDT| By Invezz

Concerns over Ecopetrol, Colombia’s largest state-owned firm, are increasing as a strategic decision about its joint venture with Occidental Petroleum is imminent. Allegations of President Gustavo Petro’s involvement, combined with massiv...

Gold prices remain flat ahead of Fed decision; copper falls on poor demand

December 19, 2024 12:01 AM AEDT| By Invezz

Gold prices remained flat for most of Wednesday as investors waited for the outcome of the US Federal Reserve’s two-day meeting later in the day. Prices had fallen in the previous session as the market remained worried about the long-term outlo...

Analysis: How rising US oil output could erode OPEC’s market share

December 18, 2024 10:04 PM AEDT| By Invezz

The Organization of the Petroleum Exporting Countries and its allies are wary of losing further market share to rising oil production in the US, according to a Reuters report. Rising oil production from the US is also likely to hamper OPEC+ eff...

Oil prices struggle to hold gains amid faltering China demand

December 17, 2024 04:42 PM AEDT| By Invezz

Oil prices were lower on Tuesday as weak demand from China dampened sentiments. Investors were also cautiously waiting for the outcome of the US Federal Reserve’s policy meeting, which starts on Tuesday. Refinery data from China showed ac...

Oil prices dip from last week’s high as investors take profits before Fed meeting

December 16, 2024 05:50 PM AEDT| By Invezz

Oil prices fell from their recent highs last week as investors resorted to booking profits ahead of the US Federal Reserve two-day meeting, which begins on Tuesday. Prices had climbed sharply last week on concerns over disruptions in Russia and...

Tighter wheat market likely to boost prices in 2025-26

December 14, 2024 09:00 PM AEDT| By Invezz

A tighter wheat market over the next season could aid wheat prices in the coming year, according to experts. The global wheat market is set to tighten over the 2024-25 season, with ending stocks declining 3.3% on a year-on-year basis to 258 mil...

Crude oil poised for weekly gains despite rising supply challenges

December 13, 2024 07:29 PM AEDT| By Invezz

Oil prices were steady on Friday, and were on course for their first weekly gain since late November as supply fears boosted sentiments. The bullish momentum was “supported by supply disruption fears stemming from geopolitical tensions and tigh...

Here’s why the silver price and SLV ETF have slumped

December 13, 2024 05:30 PM AEDT| By Invezz

Silver price and the iShares Silver ETF (SLV) have retreated in the past few weeks, moving into a technical correction. Silver dropped to $30.95, while the SLV ETF was trading at $28.20 as the focus shifted to the upcoming Federal Reserve decision. F...

Oil markets to remain oversupplied in 2025 despite OPEC+ cuts, warns IEA

December 12, 2024 10:29 PM AEDT| By Invezz

Oil markets are expected to remain oversupplied next year despite OPEC+ production cuts, the International Energy Agency (IEA) said on Thursday. “Persistent overproduction from some OPEC+ members, robust supply growth from non-OPEC+ countries a...

US oil inventories fall as imports, exports plunge, but rising product stocks weigh on sentiments

December 12, 2024 06:03 PM AEDT| By Invezz

Crude oil inventories in the US fell less than expected in the week ended December 6 as both exports and imports slumped, the Energy Information Administration said. In the week ended December 6, inventories in the US fell by 1.4 million barrel...

European carmakers’ struggles likely to continue in 2025, analysts forecast

December 12, 2024 02:13 AM AEDT| By Invezz

The European automobile industry finds itself at a critical juncture as it transitions toward electrification. Mounting competition from Chinese manufacturers, stricter carbon regulations, and subdued demand for electric vehicles (EVs) are creating a...