Daily market commentary: Gold prices touch a seven-month maximum

<img width="250" height="151" src="https://www.leaprate.com/wp-content/uploads/2022/02/Daily-Market-Commentary-Tuesday-250×151.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" style="float: left; margin-right: 5px;" link_thumbnail="" loading="lazy" srcset="https://www.leaprate.com/wp-content/uploads/2022/02/Daily-Market-Commentary-Tuesday-250×151.jpg 250w, https://www.leaprate.com/wp-content/uploads/2022/02/Daily-Market-Commentary-Tuesday-700×422.jpg 700w, https://www.leaprate.com/wp-content/uploads/2022/02/Daily-Market-Commentary-Tuesday-768×463.jpg 768w, https://www.leaprate.com/wp-content/uploads/2022/02/Daily-Market-Commentary-Tuesday-120×72.jpg 120w, https://www.leaprate.com/wp-content/uploads/2022/02/Daily-Market-Commentary-Tuesday-245×148.jpg 245w, https://www.leaprate.com/wp-content/uploads/2022/02/Daily-Market-Commentary-Tuesday-500×301.jpg 500w, https://www.leaprate.com/wp-content/uploads/2022/02/Daily-Market-Commentary-Tuesday.jpg 880w" sizes="(max-width: 250px) 100vw, 250px" /><h2>Oil</h2>
<p><a target="_blank" href="https://www.leaprate.com/forex/market-news/daily-market-commentary-unease-spreads-in-the-markets-over-the-possibility-of-a-russian-invasion-of-ukraine/" rel="noopener">WTI crude oil</a> prices eased down from the seven-year maximums reached during the previous session. Tension between Russia and the West over the potential invasion of Ukraine, has been one of the main factors behind the recent increases in the price of the barrel, with traders pricing-in the increasing likelihood of an armed conflict and the sanctions on Russian energy that would follow. Against such a back-drop, and in the absence of any significant developments, this morning’s drop in the price of oil can be explained by profit taking by investors, eager to cash-in on the gains recorded over the last few weeks.</p>
<p><img class="alignnone size-full wp-image-443697" src="https://www.leaprate.com/wp-content/uploads/2022/02/oil2.png" alt="" width="1234" height="1162" srcset="https://www.leaprate.com/wp-content/uploads/2022/02/oil2.png 1234w, https://www.leaprate.com/wp-content/uploads/2022/02/oil2-250×235.png 250w, https://www.leaprate.com/wp-content/uploads/2022/02/oil2-700×659.png 700w, https://www.leaprate.com/wp-content/uploads/2022/02/oil2-768×723.png 768w, https://www.leaprate.com/wp-content/uploads/2022/02/oil2-120×113.png 120w, https://www.leaprate.com/wp-content/uploads/2022/02/oil2-245×231.png 245w, https://www.leaprate.com/wp-content/uploads/2022/02/oil2-500×471.png 500w" sizes="(max-width: 1234px) 100vw, 1234px" /></p>
<p>Ricardo Evangelista – Senior Analyst, ActivTrades</p>
<h2>European Shares</h2>
<p>Stocks edged higher everywhere in Europe on Tuesday, alongside US Futures, as market sentiment improved following some positive developments in Eastern Europe Benchmarks traded higher from Lisbon to Stockholm as investors welcomed reassuring signs of de-escalation in geopolitical tensions with Russia/Ukraine, leading to a new “risk-on” trading stance. While a lot remains to be done on the diplomatic front, most investors acknowledged ongoing talks were on a positive path which led them to buy the dips on equity markets. Solid rebounds are being registered on riskier assets while declines can be spotted in most safer havens, confirming portfolio rotation. That said, investors will cautiously monitor talks between President Putin and German Chancellor Scholz while more market volatility may also be brought by macro data, with the US PPI looming in the afternoon.</p>
<p><img class="alignnone size-full wp-image-443695" src="https://www.leaprate.com/wp-content/uploads/2022/02/STOXX5000.png" alt="" width="1851" height="802" srcset="https://www.leaprate.com/wp-content/uploads/2022/02/STOXX5000.png 1851w, https://www.leaprate.com/wp-content/uploads/2022/02/STOXX5000-250×108.png 250w, https://www.leaprate.com/wp-content/uploads/2022/02/STOXX5000-700×303.png 700w, https://www.leaprate.com/wp-content/uploads/2022/02/STOXX5000-768×333.png 768w, https://www.leaprate.com/wp-content/uploads/2022/02/STOXX5000-1536×666.png 1536w, https://www.leaprate.com/wp-content/uploads/2022/02/STOXX5000-120×52.png 120w, https://www.leaprate.com/wp-content/uploads/2022/02/STOXX5000-245×106.png 245w, https://www.leaprate.com/wp-content/uploads/2022/02/STOXX5000-500×217.png 500w" sizes="(max-width: 1851px) 100vw, 1851px" /></p>
<p>Pierre Veyret– Technical analyst, ActivTrades</p>
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<p><em>Disclaimer: opinions are personal to the authors and do not reflect the opinions of LeapRate. This is not a trading advice.</em></p>
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<p>The post <a rel="nofollow" href="https://www.leaprate.com/forex/market-news/daily-market-commentary-gold-prices-touch-a-seven-month-maximum/">Daily market commentary: Gold prices touch a seven-month maximum</a> appeared first on <a rel="nofollow" href="https://www.leaprate.com">LeapRate</a>.</p>