Price Of Gold, Silver And Crude Oil Price Ahead Of Powell Speech And Amid Ongoing Russia-Ukraine War| FXMAG.COM

All the markets’ old boys like crude, gold and silver are still vulnerable for the mix of the factors shaping the prices. Naturally, stocks seems to be more dynamic as the recent events show. China stocks have been fluctuating recently as, among others, COVID-19 and negotiations with the USA were topping the headlines.

Global sanctions affect WTI/BRENT price – the supplies from Russia are about to be limited in Europe so the price is to rise again. Going back to gold - Hawkish rhetoric of Fed keeps precious metals investors uncertain. There’s no doubt safe-haven must be watched all the time to decide if it’s the best moment to sell or buy.

Crude Oil – WTI

Luckily crude oil price has decreased by 3% over last 24 hours and it’s probably ‘waiting’ for the next significant geopolitical updates. According to Reuters, some countries of the EU are still hesitating to stop importing crude oil from Russia.

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Gold – XAUUSD

Yes, price of gold has decreased by almost 1%, but… it could be worse as Powell doesn’t hesitate to present hawkish comments.

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Silver – XAGUSD

Silver price chart shows a significant decline which has helped it to decrease by 1.7% over last day. As wrote above, Powell testimony will let us visualise a more detailed outlook.

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