Page 151 - Commodity News

Gold hovers near 4-1/2-month high on tepid dollar, inflation jitters

Spot gold was up 0.2% at $1,883.21 per ounce by 0301 GMT. Last week, gold prices hit their highest level since Jan. 8 at $1,889.75

Oil prices rise as storm forms in Gulf, doubts emerge on Iran deal

Brent crude oil futures for July rose 32 cents, or 0.5%, to $66.76 a barrel by 0143 GMT, while U.S. West Texas Intermediate for July was at $63.93 a barrel, up 35 cents, or 0.6%

Gold eases, set for third weekly gain on weak dollar, inflation jitters

Gold edged lower on Friday, as optimism around a swift economic recovery lifted appeal for riskier assets

India to look to OPEC once oil demand recovers after Covid second wave

India's oil demand growth is set to be just 350,000 barrels per day (b/d) in 2021, according to S&P Global Platts Analytics, given extreme consumption weakness in April and May

Oil nudges up, set for biggest weekly loss since March on Iran supplies

Brent crude futures for July rose 10 cents, or 0.2%, to $65.21 a barrel by 0032 GMT while U.S. West Texas Intermediate for July was at $62.16 a barrel, up 22 cents, or 0.4

Gold slips as US Federal Reserve officials hint at possible 'taper' talks

Fed minutes published on Wednesday showed "a number" of officials thought that if the recovery holds up, it might be appropriate to "begin discussing a plan for adjusting the pace of asset purchases"

DAP prices might soften ahead as inputs costs in global markets look down

Centre may not need to provide further support this year as worst seems over for the two major input that goes into making DAP for now

Gold holds below four-month peak as dollar; Treasury yields rebound

Spot gold was flat at $1,869.50 per ounce by 0500 GMT, after hitting its highest since Jan. 8 at $1,889.75 on Wednesday

Cryptocurrency crash will support rally in gold: Bhavik Patel of Tradebulls

We are bullish on gold and expect gold to test Rs 48,800- Rs 49,400 this week

Oil prices dive $2 on fears of Asian pandemic, possible US rate hikes

Oil prices dropped over $2 a barrel on Wednesday to their lowest in three weeks, on worries that surging Covid-19 cases in Asia would dent demand for crude and US inflation fears

Oil prices fall on rising Covid-19 infections in Asia, inflation fears

Oil prices fell for a second day on Wednesday on renewed demand concerns as coronavirus cases in Asia rise and on fears of rising inflation might lead the U.S. Federal Reserve to raise interest rates

Gold hovers near 4-month high as dollar eases; Fed minutes in focus

Gold prices inched up on Wednesday, hovering near a four-month high on a weaker dollar, while investors awaited minutes from the US Federal Reserve's last policy meeting as inflation worries persist

Gold extends rally as weak dollar, inflation jitters lift appeal

Spot gold was up 0.2% at $1,869.12 per ounce by 0642 GMT

Oil extends gains as US, European reopenings outweigh fear of Asia demand

Brent crude oil futures were up 20 cents, or 0.3 per cent, at $69.66 a barrel by 0231 GMT, while West Texas Intermediate (WTI) was up 19 cents, or 0.3 per cent, at $66.46 a barrel

Gold prices at 3.5 month high on weaker dollar, inflation anxiety

Gold prices on Tuesday rose to their highest in more than three months as a weaker US dollar and growing inflationary pressure lifted bullion's appeal as an inflation hedge

Gold scales over three-month high on virus worries, lower US yields

Gold prices rose on Monday to their highest level in more than three months, as a dip in U.S. Treasury yields and worries over surging Covid cases in some Asian countries boosted demand for metal

Oil edges lower as Covid-19 restrictions in Asia fuel demand concerns

Brent crude oil futures were down 8 cents, or 0.1%, at $68.63 a barrel as of 0036 GMT, and West Texas Intermediate (WTI) crude was down 7 cents, or 0.1%, at $65.30

Gold import jumps to $6.3 bn in April due to surge in domestic demand

Gold import, which has a bearing on the country's current account deficit, zoomed to $6.3 billion for the month of April due to a surge in domestic demand, according to the Commerce Ministry data.

Surging steel prices not to affect domestic demand says Tata Steel CEO

The rising prices of steel which is widely used in sectors like construction, auto, etc will not affect the demand in the domestic market, Tata Steel CEO and Managing Director T V Narendran has said.

Platts cuts India's 2021 oil demand by 28%; sees crude topping $70

However, once the lockdowns are lifted, Platts expects the pent-up demand to get released, which in turn will act as a catalyst for economic growth