So far in June the gold price has lost 7.5 percent. This would correspond to the strongest monthly loss since November 2016.
On Tuesday yesterday, US central banker Christopher Waller said he was “very optimistic” about the economy and said that interest rates could be raised as early as next year. These restrictive tones did not do the gold price any good. In the afternoon, the upcoming economic data from the USA will attract increased attention. Investors are likely to be particularly interested in the ADP monthly report on newly created positions (2.15 p.m.). According to a survey of analysts published by Trading Economics, this is said to have decreased from 978,000 to 600,000. In the coming days, more numbers from the US labor market are likely to cause a high level of tension.
The presented itself on Wednesday morningGold price with weaker quotes. By around 7.15 a.m. (CEST), the most actively traded future on gold (August) decreased by $ 3.70 to $ 1,759.90 per troy ounce.
Crude Oil: Asked for API update
The report by the American Petroleum Institute published on Tuesday evening showed an inventory minus of 8.15 million barrels, much higher than expected. This helped the oil price in higher regions. Optimistic forecasts by OPEC General Secretary Barkindo on global oil demand sparked additional buying interest in the oil markets. Now the market players are waiting for the weekly report from the Energy Information Administration (4.30 p.m.). According to the surveys of analysts published by Trading Economics, oil stocks are said to have decreased by 4.7 million barrels, gasoline reserves decreased by 886,000 barrels and the amount of distillate stored increased by 486,000 barrels.
The oil price was presented on Wednesday morning with recovered prices. Until around 7.15 a.m. (CEST), the price of the next WTI future due rose by 0.50 to 73.48 dollars, while its counterpart on Brent rose by 0.40 to 74.68 dollars.
