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Commodity Roundup: Gold snaps 5-week winning run, Brent hovers near $90/bbl

Gold snaps 5-week winning run, Brent hovers near $90/bbl. Oil benchmarks ticked up on the day, with Brent up more than 2% for the week. US economic growth slowed more than expected in the first quarter. Exxon Mobil and Chevron report first-quarter earnings on Friday.

Gold Glitters On Stagflation Tailwinds: Newmont Soars 13% In Biggest Gain Post-Covid, Leads Mining Sector Surge

Newmont Corp. Saw its share price spike 13% on Thursday after the company posted stronger-than-expected earnings. The world's largest gold miner is on track to achieve its best-performing session since April 2020. Newmont reported earnings per share of $0.55 for the first quarter of 2024.

Here are UBS's top gold picks as stocks appear inexpensive amid wider rally

Gold stocks appear inexpensive and have abnormally lagged the gold price, UBS says. The stocks are trading on a P/E relative that is 40% below its norm. The investment bank calls on investors to continue to be overweight gold stocks. Gold miners have failed to match a blistering rally in gold recently.

Commodity Roundup: Oil, gold firm ahead of U.S. GDP data, natgas down

Oil prices rise on fears of a wider conflict in the Middle East. Israel said it plans assault on Hamas hold-outs in Rafah. Brent crude futures rise 0.15% to $88.03 a barrel. Spot gold trading higher ahead of U.S. GDP data, natgas down.

Commodity Roundup: Oil prices ease; LNG supply risks remain high, ANZ says

Commodities Energy Commodity Roundup: Oil prices ease; LNG supply risks remain high, ANZ says. Subdued demand has eased concerns about supply shortages in global gas markets. Significant risks to supply still remain due to the ongoing conflict in Ukraine and the Middle East. European natural gas futures eased after rising from a two-week low. Crude oil prices ticked lower despite surprise drop in crude stockpiles.

Gold's sharp two-day correction overdue and healthy, analysts say

Gold futures extended their losses Tuesday in the largest two-day percentage decline since February last year. Gold's correction is long overdue and healthy, Saxo Bank's Ole Hansen says. Silver also has corrected sharply in sympathy with gold. J.P. Morgan forecasts gold prices ending 2024 averaging $2,500/oz.

Commodity Roundup: Gold, silver suffer aggressive, but 'healthy' correction - Saxo Bank

Gold whacked in biggest one-day drop in over a year as Middle East fears ease

Gold futures fall more than 2% on Monday as Middle East fears ease. Most-active Comex gold contract for June delivery trades -2.5% to $2,532.80/oz. Worst one-day drop since February 3, 2023.