Page 414 - Commodity News

Oil prices recover ahead of Iran-Iraq talks

Oil prices have tumbled about 70% since June 2014, hit by oversupply, sluggish demand

Iran could decide fate of first global oil deal for 15 years

Venezuelan and Iraqi oil ministers will travel to Tehran to discuss freezing output with their Iranian counterpart

Gold import dips substantially in Feb; concern on dore inflow

Despite January being perceived as a dull month for gold, import jumped significantly in value terms, by 85.2% to $2.9 bn, up from $1.6 bn a year before

Falling prices leave steel companies deep in the red

No wonder, the difficult steel market inflicted a record loss of $7.9 billion on ArcelorMittal, the world's largest steel producer with manufacturing presence in five continents

Govt modifies Gold Monetisation Scheme for easier customer participation

The government has modified the Gold Monetisation Scheme (GMS) after the Reserve Bank of India (RBI) issued a master direction on the scheme on January 21.

Gold snaps two-day decline as equities retreat

Gold rose on Tuesday, snapping two days of losses and recovering from an early dive below $1,200 an ounce as stock markets swung lower, boosting interest in the metal as a haven from risk.

Saudi Arabia, Russia agree on oil output freeze, talks with Iran to follow

The Saudi, Russian, Qatari and Venezuelan oil ministers visited Doha for a previously undisclosed meeting - their highest-level discussion in months on joint action to help prices recover from their l

Silver down by 0.7% on weak global cues

Participants engaged in trimming their positions, tracking a weak trend overseas

Gold futures down by 0.8% on weak global cues

Continued profit-booking by speculators at prevailing levels also weighed on gold prices

Crude oil up by 3.4% fuelled by global cues

Participants widened their bets, tracking a firming trend in Asia

Gold slumps below $1,200, risk appetite dents safe-haven demand

Yellow metal drifts further away from a one-year high it achieved last week; posts a three-day loss of more than 4%

Goldman suggests shorting gold as fear factor overdone

Fears over China, oil and negative interest rates have been overstated and prices will roll back, Goldman Sachs says

Oil prices rise on expected Russia-Saudi meeting

Brent broke past $34 a barrel on expectations that Russia and Saudi Arabia will discuss the global oversupply issue

Oil powers fly to Doha for private talks as $30 crude woes mount

Oil ministers from Saudi, Russia and other OPEC members to be present at meet to discuss ways to tackle supply glut

Gold down, metals up as China markets open

Gold price fell from a high of $1,263 last week to $1,209 down 4.3%

Crude palm oil down by 1.1% on profit-booking

Speculators booked profits at prevailing higher levels amid fall in demand in spot market

Silver down by 2.1% on weak global cues

Participants cut down their bets, taking weak cues from overseas markets

Zinc up by 0.6% on overseas cues

Increase in demand in the spot markets also helped prices

Lead up by 0.3% on spot demand

Besides, strength in base metals pack at the London Metal Exchange (LME) supported the upside

Mentha oil up by 2% on pick-up in demand

Traders created fresh positions amid pick-up in demand from consuming industries in spot market