商品市場の変動が激しい週における金価格の維持

• 価格は1800ドル帯で推移
• 原油価格はジェットコースターのように変動し続ける
• COVID変異株が主要な要因になる可能性

The commodities news for the week has thrown up some action across the board with gold prices holding up well and surprisingly steady around the $1800 with the possibility of some safe-haven demand returning as COVID-cases continue to be a cause of concern. Away from precious metals trading, oil has had a volatile week first surging early on before pulling back to current levels amid OPEC+ turmoil. The more imperative concern though for commodities including gold, silver, and oil remains the increasing number of COVID cases largely due to the Delta variant which has seen some countries revert to a more cautious outlook on reopening.

金価格は予想以上に安定

A strengthening US Dollar forex market is not good news for the price of gold typically. Presently though, there appears to be a confluence of factors that is keeping the metal price higher than it may otherwise be. These include a dipping treasury yield with the US 10-year in particular now at an especially low level. Combine this with some increased demand as a safe haven and we have reached the current prices.

The next stop for gold could even be a little higher though that will largely dependant on other issues of which there are several. These are treasury rates and any recovery that may happen, but a significant influence will also come from COVID case numbers and even the current situation in the equities market with US-traded stocks in Chinese companies and how that resolves.

原油価格の変動は週を通じて続く

Oil prices had spiraled at the start of the week following the failure of the OPEC+ group to agree on output levels that led to talks being abandoned and a lack of clarity on what would happen. The fear is that the group could abandon the output limits they have set and followed throughout this period that could lead to an oversupply.

Prices picked up though as US data showed a larger drop in inventories than had been expected. This is more proof of the economy getting back on its feet while there are also hopes that the group differences can be resolved effectively very soon.

COVID変異株が進展を阻む恐れ

Even though the economic recovery is well underway and has been for some time in the commodities market and others, the main threat at preset to this progress remains the resurgence of COVID-19 in the form of the Delta variant. This uptick in cases has prompted many countries to take action and raise threat levels, reimposing some restrictions.

これにはさまざまな結果が考えられますが、最も可能性が高いのはドルの安全性へさらに後退し、金やその他の安全資産としての貴金属の価格がさらに変動することです。これまでのところ、市場のセンチメントへの影響は最小限でしたが、さらなる上昇があれば影響が出る可能性があります。