Web Trader MT5 
Oil prices edged slightly lower after OPEC+ agreed to increase its August production target by 188,000 barrels per day, a move that was largely expected by the market.
The decline was also driven by a gradual recovery in oil exports through the Strait of Hormuz, as Gulf producers resume shipments.
In early trading this morning, U.S. stock futures moved higher, extending last week’s momentum after the Dow Jones Industrial Average reached new record highs.
Asian markets traded mixed as investors continued rotating away from semiconductor stocks and reassessing AI-related investments. Despite weakness in chipmakers, broader market sentiment remained positive, supported by strength in financial, healthcare, and industrial sectors.
Last week, the Dow surged nearly 2%, with the S&P 500 and Nasdaq also posting solid gains, even as semiconductor stocks declined for a second consecutive week.
Gold prices retreated after reaching a two-week high above $4,200, as renewed safe-haven demand for the U.S. dollar weighed on the precious metal amid ongoing tensions surrounding the Strait of Hormuz.
However, downside pressure remains limited as weaker-than-expected U.S. employment data has reduced expectations of further Federal Reserve rate hikes, which is negative for the dollar and supportive for gold.
Investors are now awaiting the U.S. ISM Services PMI report and speeches from Federal Reserve officials for further clues on the outlook for interest rates. Despite the current pullback, the broader outlook for gold remains constructive due to central bank demand, easing rate hike expectations, and ongoing geopolitical risks.
Tags
Open Live Account
Please enter a valid country
No results found
No results found
Please enter a valid email
Please enter a valid verification code
1. 8-16 characters + numbers (0-9) 2. blend of letters (A-Z, a-z) 3. special characters (e.g, !a#S%^&)
Please enter the correct format
Please tick the checkbox to proceed
Please tick the checkbox to proceed
Important Notice
STARTRADER does not accept any applications from Australian residents.
To comply with regulatory requirements, clicking the button will redirect you to the STARTRADER website operated by STARTRADER PRIME GLOBAL PTY LTD (ABN 65 156 005 668), an authorized Australian Financial Services Licence holder (AFSL no. 421210) regulated by the Australian Securities and Investments Commission.
CONTINUEImportant Notice for Residents of the United Arab Emirates
In alignment with local regulatory requirements, individuals residing in the United Arab Emirates are requested to proceed via our dedicated regional platform at startrader.ae, which is operated by STARTRADER Global Financial Consultation & Financial Analysis L.L.C.. This entity is licensed by the UAE Capital Market Authority (CMA) under License No. 20200000241, and is authorised to introduce financial services and promote financial products in the UAE.
Please click the "Continue" button below to be redirected.
CONTINUEError! Please try again.
