Gold prices dipped somewhat by Rs 90 to Rs 44,847 per 10 gram in the Mumbai retail market, tracking energetic appreciation in the rupee and low global cues. The yellow metal fought to get past the $1,750/oz’s stiff resistance zone on a closing basis. The rate of 10 gram 22-carat gold in Mumbai held Rs …
President Andres Manuel Lopez Obrador redoubles his attempts to prop up the heavily-indebted state-run oil company. Those so-called debt amortization payments will figure over $6 billion in 2021. Chief Executive Officer Octavio Romero spoke Thursday at an event in southern Mexico in the president’s home state Tabasco, one of the country’s largest oil producers. The …
A year following the WHO announced the coronavirus crisis as an epidemic, all the world’s biggest economies are rebound trajectory and slated to record notable growth in the current year after significant slumps in 2020. Oil Following a historic slump, oil has also been on a break, up 110% in a year. In an apparent …
Three commodities expected to rise as the economy recovers Read More »
Several European countries have halted the use of AstraZeneca (NASDAQ: AZN)’s coronavirus vaccine due to concerns over potential side effects. Germany recognizes rising COVID-19 cases, while Italy is imposing a nationwide Easter lockdown. Brent crude dropped $1.00, or 1.5%, to $67.39 a barrel by 1310 GMT. U.S. West Texas Intermediate (WTI) crude fell 72 cents, …
Peru’s populist presidential front-runner Yonhy Lescano intends to renegotiate a more equitable distribution of mining wealth if chosen to lead the world’s No. 2 copper producer and support more affordable natural gas imports. He informed Reuters less than a month before an April vote. Lescano, 62, a retired lawmaker and head of the Popular Action …
Peru`s Front-Runner Pledges To Spread Mining Wealth Read More »
The price of gold is floating over the intermediate regression channel’s midline, which has helped them rebound in the gold price. However, natural resistance for April futures exists around Rs 45200, followed by Rs 45740 (21 Day EMA), and critical support holds about Rs 44200. The strength index RSI (35) has changed from the oversold …
Significant production cutbacks by mega-producers Russia and Saudi Arabia sparked a fire under the oil market to begin 2021. The cuts have reached their objective and prices have increased to $65 per barrel. So both nations are considering relaxing them. This would turn over 1 million barrels per day (BPD) to the market in short …
Bear Spreads Favored By High Volatility In Crude Options Read More »
They are intimidating to upend the most substantial bull run in 11 financial years as investors set their expectations for sustained earnings recovery. The sharp rally in commodity prices, triggered by enthusiasm about a global economic recovery, could seriously depress India’s corporate earnings in the upcoming quarters and make current stock valuations look increased, analysts …
Overnight the API announced that US crude oil inventories rose by a significant 12.5MMbbls over the last week. Counteracting this were large drawdowns in both gasoline and distillate fuel oil inventories, with these falling by 8.5MMbbls and 4.8MMbbls, individually. This data reveals the outcome of the big freeze that we witnessed across the US Gulf …
Brent Oil Is Under Pressure And Other Commodities News Read More »
Precious metals are on a drop as yields are increasing. Here are some commodity notes that analysts say can perform stable returns in the near term. Gold | Sell | Target: Rs 43,800 Technical indicator RSI is hanging under the 30 marks on the daily chart, noting that the counter is in an oversold condition. …
Benchmark Brent rose as high as $71.38 a barrel in early Asian trade, its most distinguished after Jan. 8, 2020. By 1110 GMT, it was trading up 12 cents or 0.2% at $69.48, still hanging around its highest level in longer than a year. U.S. West Texas Intermediate (WTI) crude was up 14 cents or …
BRENT REACHES $70 FIRST TIME SINCE EPIDEMIC BEGAN Read More »
Concurrently, signs of progress in the COVID-19 vaccine rollout in the United States gave further support. Brent oil was higher $1.28, or 2%, to $63.98 a barrel by 1050 GMT. U.S. West Texas Intermediate (WTI) crude climbed $1.17, or 2%, to $60.92 a barrel. The fundamentals of the oil market imply further power as oil demand …
OPEC and its non-OPEC allies, an energy group sometimes related to OPEC+, will meet via videoconference to strike a consensus over how to maintain supply to the market. The group last year admitted to reducing the quantity of oil it produces to prop up oil prices as severe public health measures matched with an original …
Saudi And Russia Disagree Once Again On Oil Supply Read More »
Last week’s sell-off in world bonds steadied following central banks from Asia to Europe contributed reassurance that policy support persists in place. That’s served to moderately quiet markets and draw Treasury yields back from their highest level in a year. Bets on accelerating inflation raise concerns that there could be a pullback in monetary policy …
A furious rally in copper has sent it over $9,000 a tonne for the first time after 2011. Following a dramatic recovery, Brent crude on Tuesday briefly passed $66 a barrel, the level at which it began a turbulent 2020. Corn is up nearly 17 percent since the beginning of 2021 to an almost eight-year …
Worries Over Overshoot Raised By Commodities Prices Read More »
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