Page 108 - Commodity News

Gold slips to near 1-year low as US inflation jump bolsters rate hike bets

Spot gold was down 0.4% at $1,719.49 per ounce by 09:35 a.m. ET (1335 GMT), after dropping to its lowest since August at $1,707.09 earlier in the session. US gold futures were down 0.6% at $1,714.60

Two-thirds of new renewable power cheaper than coal last year: IRENA

IRENA said high European gas prices will make new gas-fired generation in Europe increasingly uneconomic over its lifetime

Crude oil edges higher after slide below $100 ahead of US inflation data

By Alex Lawler

European Union has to look at Asia for oil imports, says UBS report

With the embargo on imports of Russian oil by the European Union (EU) to kick in, the region has to look at other sources, mainly China, said UBS in a report citing an oil industry expert.

Copper prices slide to 20-month low on economic slowdown fears

Rising US interest rates have pushed the dollar to its strongest in two decades, making dollar-priced metals costlier for non-US buyers and potentially dampening demand

Gold price steadies near 9-month low with spotlight on US CPI data

By Eileen Soreng

India's palm oil imports rise marginally to 590,000 tonnes in June: SEA

Total import of vegetable oils (both edible and non-edible oils) remained lower at 9.91 lakh tonnes in June this year from 9.96 lakh tonnes in the year-ago period.

Gold down, silver up; yellow metal trading at Rs 51,054 per 10 gm today

The rate of silver went up by Rs 5,300 per kg from the previous day's closing price, selling at Rs 62,500 on Wednesday

Gold unchanged today; silver up dramatically, trading at Rs 63,000 per kg

Gold prices remain unchanged in Tuesday's early trade as 10 gram of 24-carat of yellow metal is currently trading at Rs 51,210

Brent slumps to below $100 a barrel on firm dollar, weak demand outlook

Brent and WTI fall by more than $7 a barrel; recession fears and China COVID curbs weigh on oil, say analysts; OPEC forecasts slower oil demand growth in 2023

Oil slides on strong dollar, weaker demand outlook and slowdown fears

Brent crude futures were down by $4.78, or 4.5%, at $102.32 a barrel by 1112 GMT, having earlier sunk as low as $101.48.

Gold struggles for traction as interest rate hike bets, dollar dim appeal

Spot gold was little changed at $1,734.59 per ounce by 0916 GMT after hitting $1,722.36 earlier in the session, its lowest since Sept. 30. US gold futures rose 0.1% to $1,733.60.

Gold, silver unchanged in early trade; yellow metal at Rs 51,150 per 10 gm

In Delhi, Mumbai, and Kolkata, 10 gram of 24-carat gold is selling at Rs 51,210

Oil steadies as China's Covid-19 fears face tight supply concerns

By Scott DiSavino

Global demand fears, Covid in China, soaring dollar slam copper prices

Benchmark copper on the London Metal Exchange (LME) was down 3% at $7,573 a tonne at 1601 GMT.

Russia's share of India's June oil imports surges to record 950,000 bpd

By Nidhi Verma

Gold hovers near 9-month low as dollar gains on looming rate hikes

By Arundhati Sarkar

China's $220-bn stimulus unlikely to reverse global metals meltdown

Extra funds will likely be used to plug Covid-era budget gaps, and won't tackle the bigger issue for metals demand: a subdued property market and a still-struggling manufacturing sector

China stimulus unlikely to reverse rout in the global metals market

While Chinese stimulus played a role in rescuing industrial commodities from slumps in global demand, after the 2008 financial crisis, in late 2015, and in 2020, there's much more caution this time

Power engineers body asks govt not to move electricity bill in 'haste'

A power sector engineers' body has asked the government to not introduce the electricity (amendment) bill in the upcoming session of Parliament "in haste" and hold discussions with all stakeholders