Gold prices fell today, Wednesday, to their lowest levels in nearly two weeks, and crude oil futures prices recorded a significant increase, and European stocks rose.

We start with gold, whose prices fell today, Wednesday, to their lowest levels in nearly two weeks, affected by the continued rise in US bond yields and the dollar.

And by 07:41 GMT, spot gold fell 0.4% to $ 1941.40 an ounce, and US gold futures fell 0.7% to $ 1944.80.

The price of gold fell on Tuesday by 1.8%, as the impact of the rise in US 10-year Treasury bond yields, as well as the rise in the dollar, which reduces demand for the precious metal, outweighed the demand to buy it as a safe haven for value.

The dollar stabilized close to its recent gains, which made dollar-denominated gold less attractive to holders of other currencies.

China kept lending rates unexpectedly stable today, Wednesday, and markets viewed this move as a sign of caution as the economy slumped due to "Covid-19" restrictions.

US Treasury yields hovered near their highest levels in several years as investors prepared to raise rates.

On Monday, gold approached the level of two thousand dollars an ounce, but it has been under pressure since then.

As for other precious metals, the price of silver in spot transactions fell 0.8% to $ 24.96 an ounce, the price of platinum fell 1.5 percent to $ 976.47 an ounce, while the price of palladium rose 0.3% to $ 2379.85 an ounce.


high oil

We turn to oil, as crude oil futures prices recorded a significant increase in trading today, Wednesday, against the backdrop of improved industrial activity in China and a decline in US crude stocks.

The price of West Texas Intermediate crude, the benchmark for US oil, rose to $104 a barrel, after falling more than 5% on Tuesday.

This comes at a time when various companies in the Chinese city of Shanghai have resumed their activities, ranging from car manufacturers to shopping centers, as the city seeks to recover from the economic repercussions of the closure measures imposed by the city in the past weeks due to the return of the outbreak of the new Corona virus.

On Tuesday, the American Petroleum Institute announced that US crude oil stocks fell by 4.5 million barrels last week, and the US Government Energy Information Administration is scheduled to announce later in the day its weekly data on stocks.

And if it confirms the inventory decline with the same figures from the Petroleum Institute, the decline will be the largest since early February.

The price of West Texas Intermediate crude rose today by 1.4 percent to $ 103.96 a barrel for delivery next May, and the price of West Texas crude for delivery next June rose by $ 103.40 a barrel, and the price of Brent crude, the global oil standard, rose by 1.3 percent to $ 108.67 a barrel. Delivery next June.


European stocks are rebounding

And we conclude with European shares that rose on Wednesday after the announcement of positive business results from food and beverage companies, but concerns about the war in Ukraine, slowing growth and higher revenues limited the gains.

The pan-European Stoxx 600 index rose 0.5%, with the banking and food and beverage sectors gaining 1.3% each.

Meanwhile, mining stocks fell 0.8%, oil stocks fell 0.5%, and Danone jumped 7.2% after the French food group posted stronger-than-expected sales growth in the first quarter of the year and maintained its 2022 targets.

Credit Suisse shares fell 1.9% after the Swiss bank said it expects a net loss in the first quarter and more negative effects from Russia's invasion of Ukraine.

Meanwhile, data on Wednesday showed German producer prices rose 30.9% year on year in March, reflecting the effects of the conflict in Ukraine for the first time.