Articles by Myrsini Giannouli

Yesterday, gold started the day on a bullish trend, climbing to $1,810 per ounce, even as Fed Chair Jerome Powel was scheduled to testify on Tuesday evening before the Senate Banking committee.

WTI continued its uptrend on Tuesday morning, going as high as $79.7 per barrel, as OPEC+ expects only a small decline in demand due to the spread of the Omicron variance of the Coronavirus and its impact on transportation fuel demand.

Last week WTI price was in an uptrend, but the WTI price started to decline last Friday. On Monday, WTI was testing the uptrend, showing retreating signs from last week’s high of over $80 per barrel.

Bitcoin and other cryptocurrencies came under pressure last week, following the Fed’s hawkish announcement.

On Monday morning, gold price tumbled to $1,791 per ounce, amidst speculation of a faster than anticipated rate hike by the Fed. Goldman Sacks economists predict that the Fed will raise interest rates four times within 2022.