Oil futures prices climbed by 2% on Thursday. The consistent improvement in US factory activity compensated for the surprise build-up in crude and diesel inventories. On the other hand, some in the market worry that China’s new Hong Kong security law could cause trade sanctions. Brent crude July futures climbed 55 cents, or 1.6%, to …
Higher US refinery rates offset surprise crude build Read More »
Analysts forecast global copper demand to fall by 5.4% to 22.625 million tonnes this year. This is according to the International Wrought Copper Council. However, they also expect it to bounce back by 4.4% to 23.625 million tonnes next year. This year showed a drop in supply-side too, which is also going to rebound strongly …
Once the global agreement on the production cuts expires in 2022, the Russian government plans on drilling idle oil wells to prepare for the restoration of oil output. The Russian government has published the statement on its approval of the program on Tuesday. At the beginning of April, the Organization of the Petroleum Exporting Countries …
Russia prepares pump oil after the OPEC deal expires Read More »
After the decrease in the coronavirus cases, several countries eased lockdown. Positive economic indicators set up gold for a weekly drop. Besides, the escalated tensions between the US and China underpinned gold’s haven appeal. Spot gold prices were up 0.2 percent at $1,727.75 per ounce. US gold futures climbed 0.4 percent to $1,729.40. Since October …
At the end of 2019, the palladium market experienced a drop in supply by 950,000 ounces (29.54 Mt). Throughout the year, the metal’s price had been on the rise, until it reached a historical maximum. Besides, the demand for palladium has been historically high in the automotive sector. The PGM Market Report, published in major …
Russia – the world’s largest producer of palladium in 2019 Read More »
The management of the Uzbek agricultural wholesale company, BMB Export Global, and members of the Chamber of Commerce and Industry of Egypt held a videoconference yesterday. The parties discussed current agricultural prices and the possibility of cooperation. Egypt is ready to deliver fruits and vegetables that are not cultivated in the country, like plums, cherries, …
Egypt and Uzbekistan are opening markets for fruit Read More »
The Covid-19 pandemic has harmed the platinum market, including price, demand, and supply. Still, the results of the report of the World Platinum Investment Council (WPIC) is quite promising. According to it, the first quarter of 2020 is showing that the net effect is less than feared. The outlook for the platinum this year is …
Covid-19’s impact on platinum is less than feared Read More »
Central banks choose the assets as the part of their reserves, based on security, liquidity, and returns. The crisis caused by Covid-19 has created an unprecedented deterioration in financial markets. Furthermore, it has confirmed the vital role of gold in central bank reserves. The report by the World Gold Council highlights the importance of the …
Covid-19 confirms gold is vital for central bank reserves Read More »
Concerns about tense relations between America and China and weak data from America’s economy boosted appetite for investing in the gold market. The price of the yellow metal yesterday settled at its highest level since October 2012. Gold rose 1.04 percent to $ 1,761.87 an ounce. Gold for delivery in June increased by 0.89 percent …
Gold surged to $ 1,761, the highest level since 2012 Read More »
Silver prices started to increase after Friday’s breakout session. Phillip Streible, a chief market strategist at Blue Line Futures, said that the demand for the metal has increased while the supply has dropped. These conditions are likely to continue to push silver rates higher. May silver prices settled at $17.51 an ounce. Since late February, …
Supply crisis pushing the silver price to 3-month high Read More »
The Reserve Bank of India increased its gold reserves by 7% during the last fiscal year. This is in comparison to the figures recorded in the previous period. Between April 2019 and March 2020, the entity added 40.45 tons of gold to its reserves. This was a total raise of 653.01 tons. The number places …
India increased its gold reserves by 7% in 2019-2020 Read More »
The Norwegian government has sharply lowered its forecast for crude oil prices and expects the cash flow from its oil and gas industry to decline sharply due to falling global demand. Norway is the largest producer of oil and gas in Western Europe, accounting for 40 percent of exports and about one-fifth of the government’s …
Norwegian oil revenues fall as oil prices decline Read More »
The spot gold price operated on a positive note this Tuesday and advanced more than 0.4% to $ 1706. The price was driven by the uncertainty generated by the first attempts to ease confinement measures in various economies, as well as inflation figures in the United States. The indecision in the price of the XAU/USD …
Gold rises amid concerns of a second wave from Coronavirus Read More »
There is an uncertainty in the crude oil market whether prices have already bottomed out or whether we see declines and even new negative rates. The truth is that there are forecasts for all tastes. Everything will depend on how the recovery evolves and the balance between supply and demand. Some analysts believe that prices …
Oil prices: recovery or return to negative rates? Read More »
The Food and Agriculture Organization of the United Nations, FAO, released its first forecasts for global wheat supply and demand in the 2020/21 marketing season. World production is forecasted at 762.6 million tons. The number broadly corresponds with the level of 2019. The harvests expect to be lower in the European Union, North Africa, Ukraine, …
Cereal production will be abundant in Asian regions Read More »
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