According to IHS Markit’s latest analysis, the coronavirus crisis and collapse in oil prices is not a death sentence for Canada’s oil sands. Its production will still rise through to 2030. It should reach 3.8 million barrels per day, which is just 100,000 bpd lower than pre-crisis production. Even before the coronavirus shock to the …
The American Petroleum Institute (API) released its oil inventory report for the week ending on July 24. The results show a draw in crude oil inventories of 6.8 million barrels, from an initial prediction of a 357,000-450,000 stockpile rise. Last week, analysts expected an inventory draw but instead had a 7.5 million barrel inventory buildup. …
Oil Inventory Report Announced Draw, Oil Price Still Slides Read More »
This week silver is going to have a great historical journey. Traders will remember it for the stellar performance and the breakdown of the price denominated in dollars in the spot, futures, and physical markets. This has ignited everything from gold and silver mining stocks and indices to ETFs and sparked increased interest in the …
Spectacular rise in the price of silver: 18% in a week Read More »
It seemed like only yesterday when oil companies enjoyed the fruits of their drillings. Back in 2008, the high demand for black gold drove oil prices skyrocketing to $145 per barrel. Eight years later, as state-wide lockdowns were imposed, Brent crude slipped to its lowest at $16 per barrel last April. Oil prices stabilized for …
It’s a good day for metals. While the greenback struggles to keep its head above the water, spot gold is in a rollercoaster that is only going up. The USD continues to record poor yields, its lowest in over a year. The gold rate today surged by at least 30% from its price in the …
The dynamics of the copper market continues to have a focus on the risk of a decrease in the supply of metal in the main producing countries. It has led to a drop in inventories available in metal exchanges. On the other hand, a weaker US dollar makes copper more attractive for buyers using other …
The downward opening of European stock markets cut the bullish streak of recent days. The geopolitical tensions between China and the US is a warning sign in the markets. The conflict between the two nations overshadowed the beginning of the season, which had reasonably good results. In other news, economies around the world hoped for …
Gold, close to its record highs amid US- China tensions Read More »
RBC Capital Markets is a global investment bank that provides banking, finance, and capital markets services to corporations, institutional investors, asset managers, and governments worldwide. One of its study and analysis teams has increased its forecasts for silver prices by up to 16% for 2020. Its projections for 2021 are growths of 17% and 14% …
RBC Capital Markets bank increases its estimates for silver Read More »
Valcambi, one of the largest gold refiners in the world, has worked with a supplier suspected of acquiring precious metals from Sudan. Global Witness, an international NGO that reported the news, urges the London Bullion Market Association (LBMA) to examine producers more closely. Global Witness claims the Swiss refinery Valcambi bought large quantities of gold …
Swiss Valcambi suspected of acquiring gold of dubious origin Read More »
The price of silver has risen enormously in recent months. On March 19, 2020, its price was about $12 per ounce. But, as of July 14, the price exceeded $19. This signals a price increase of almost 60% in less than four months. What explains this? According to Avery Goodman, a Securities lawyer and market …
Silver prices have increased by almost 60% since March Read More »
Azerbaijani officials warned that an escalating military clash between the country with rival neighbor Armenia could interrupt oil and gas flows from the Caucasus region to Western European markets. Deadly fighting broke out last week, near the contested enclave of Nagorno-Karabakh. The region is the strategic point of Azerbaijan’s and Turkey’s energy economy. It is …
Azerbaijan-Armenia conflict sparks fear of oil and gas flow Read More »
Iraq is cutting oil sales to some refineries in Asia and Europe. This is along with its commitments under the OPEC Plus agreement on production cuts. The Iraqi state oil company, SOMO, is responsible for marketing Iraq’s oil. It has informed at least six customers in Asia that their request for oil supply next month …
Oil prices rose by 2% on Wednesday, supported by a sharp drop in crude inventories in the United States. However, gains were limited, as OPEC and its allies are set to ease supply restrictions from August onward. Brent crude rose 89 cents, or 2.1%, to $43.79 a barrel. US West Texas Intermediate (WTI) crude rose …
Sidney brand, AussieBum, has created a yarn that mixes polyester and lycra with a 100% gold coating. They make the most exclusive underpants in the world: a luxury item is around 10,000 euros per unit. Gold, the most precious of all metals, has always captivated humanity. So it is not surprising that it is increasingly …
Men’s underwear made of 24-carat gold – made in Australia Read More »
Recently, the Silver Institute reported that the demand for investment for silver grew strongly, at a rate of 10% during the first half of 2020. Investors mainly flowed to ETFs, bullion, and coins. The data reveals and highlights its role as a haven, which the precious metal offers for investors in turbulent times. The global …
Investors set their sights on silver reaching $19 an ounce Read More »
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