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 »
Oil prices dropped on Thursday. WTI futures fell 44 cents to close at US$23.55 a barrel. Brent for July contract lost 26 cents to fix at US$29.46 a barrel. Even though Saudi Aramco raised rates, the market remains overflooded after Saudi Arabia exported record amounts of crude oil in April. According to Standard Chartered Plc …
Oil prices dropped – the market remains oversupplied Read More »
Weekly data on the US economy hasn’t been positive. The depth of the coronavirus crisis influences the country’s economy. In the previous session, gold prices declined by 1%. Today, they faced an increase. The price of an ounce of gold rose 0.33 percent to $1,691 and 35 cents in live trading today. Gold for delivery …
Gold prices rise on new rounds of US unemployment data Read More »
Iron ore futures opened higher today in daytime trading on the Dalian Commodity Exchange (DCE). The most active iron ore contract for September 2020 delivery increased by 8 yuan (approximately $1.13) to open at 615 yuan per tonne. Throughout the coronavirus crisis, iron ore has been holding comfortably above US$80 a tonne. The commodity delivered …
Aurubis, Germany-based Europe’s biggest copper smelter company, won European Union antitrust approval. According to the European Commission, the company acquired on Monday the Belgian-Spanish metal recycling group Metallo. The commission stated that the company would not affect competition in the copper recycling sector negatively. In May 2019, Aurubis agreed to buy Metallo for 380 million …
Rising tensions between the Us and China over the coronavirus weakened risk sentiment. Reuters reported that growing unease at the gulf between asset prices and gloomy economic reality turned investors cautions. Mike Pompeo, the US secretary of the state, said that a significant amount of evidence exists uncovering that the coronavirus developed from a Chinese …
US-China tensions affect Gold; Traders remain cautious Read More »
After having had its best month in years, gold was trading lower on the last day of April. Traders traded at the typical profit-taking before the end of the month, so further declines could well be expected. Jim Wyckoff, a senior analyst at Kitco, stated that economic data hadn’t reflected the true scale of the …
Gold closed on its best month in almost four years Read More »
The benchmark barrel price in the United States rose more than 26% this Wednesday. The day after it collapsed after a major US oil fund sold short-term black gold contracts. WTI gained 29% to $16 a barrel in e-commerce. It fell more than 21% on Tuesday after the US fund United States Oil Fund (USO) …
US oil rose while European stocks register slight gains Read More »
Gold is trading lower on Tuesday after investors have decided to ignore the poor economic performance during the day. They have opted for optimism before reopening several regional economies around the world. Besides, the metal is awaiting events starting tomorrow with the arrival of the central banks of the United States and the eurozone. Within …
Gold struggles to keep 1,700 due to optimism in the market Read More »
China’s largest lender, the Industrial and Commercial Bank of China, halted sales of more products that let retail investors speculate on fluctuations in commodities after the unprecedented crash in crude oil burnt many. The lender will temporarily suspend the opening of new positions in products linked to crude oil, soybeans, and natural gas. The bank …
China’s Biggest Bank Suspends Retail Products in Commodities Read More »
The global financial markets have been calm, which allowed most commodities to close the session with gains. The weakened dollar index approved an increase in the price of raw materials. Notably, the weakening of the US dollar increases the demand for commodities. It makes them more accessible to investors who hold another currency. Economic activity …
Industrial metals benefited from the weakening US dollar Read More »
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