Gold price and oil price: Gold price: favorable wind from the front of interest rates and inflation | news

by Jrg Bernhard

With a growth of 8.5% per year, the currency devaluation in the United States has reached its highest level in more than 40 years. There is now a threat of a 50 basis point rate hike at the Fed meeting scheduled for May 4. Futures exchange operator CME Group’s FedWatch tool puts the likelihood of a big rate hike at more than 86%, up from a reading of just 42% a month ago. New inflation data for Britain and Spain will be announced in the morning, followed in the afternoon by the current US producer prices for March (2:30 p.m.). According to a survey of analysts published by Trading Economics, they would have accelerated by 10.0 to 10.6% per year during the previous month.

On Wednesday morning, the price of gold presented itself with stable quotations. Around 07:55 (CEST), the most actively traded gold futures (June) fell 0.10 to $1,976.00 per troy ounce.

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Rohl: IEA update creates excitement

Instead of a forecast increase of 1.37 million barrels in inventories, the American Petroleum Institute reported Tuesday evening an increase of 7.7 million barrels. The International Energy Agency’s market report (10:00 a.m.) is now causing a lot of excitement. Yesterday, the slight easing in Shanghai led to a daily gain of 6.7% for the American variety WTI and brought the North Sea brand Brent a daily gain of 6.3%. The fossil fuel source could gain further momentum in the afternoon when the US Energy Information Administration (4:30 p.m.) releases its weekly report on changes in storage reserves and production figures.

Oil prices were higher Wednesday morning. At around 7:55 a.m. ET, the next WTI futures contract was up 0.50 at $101.10, while its counterpart Brent was up 0.64 at $105.28.

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