Gold price: waiting for the Fed minutes in the evening

The Tankan sentiment report from Japan published in the morning showed the worst sentiment in over ten years with minus 44 points. Such a negative environment makes gold appear to be an extremely attractive investment due to the strong need for protection among investors. It is currently just below its recent seven and a half year high.On Wednesday morning, the gold price presented itself with rising prices. Until around 7.35 a.m. (CEST), the most actively traded future on gold (June) went up by $ 6.50 to $ 1,752.10 a troy ounce.

 

Oil price: stable thanks to API weekly report

The fossil fuel can successfully defend its mid-week price level after the American Petroleum Institute reported the first drop in oil stored in US for two months after the US closed yesterday. With a decline of 4.8 million barrels, the minus was even quite substantial. However, this positive news was slowed down by the bleak economic forecasts of the two US central bankers Jerome Powell and Eric Rosengren (see above).On Wednesday morning, the oil price presented itself with higher prices. Until around 7.35 a.m. (CEST), the next due WTI future rose by $ 0.54 to $ 32.36, while its counterpart on Brent rose by $ 0.35 to $ 35.00.