Monday’s Market update – 15 August 2022

Investors tend to avoid risk this week and prior to the housing data and retail earnings in the U.S. which is expected to slow down.

However, spot gold continued the gains trading near 1,800 as recessionary fears still rising amid mixed economic data in the U.S.

Crude prices decline confirmed the declining trend today as weak Chinese economic data triggered concerns about demand.

Meanwhile, the head of the world’s top exporter, Saudi Aramco, said it was ready to ramp up output.

Both crude contracts lost almost $1 to trade below $100