The recent gains in WTI and Brent were a treat for investors and a boon for oil bulls. The original catalyst for this most recent rally was a bullish inventory report, with the EIA announcing that inventories at Cushing, Oklahoma, had declined by 5.8 million barrels.
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Saudi Arabia Aims to Keep Crude in $70 to $80 Band – Gold Silver Reports
OPEC and Saudi Arabia do not have an official price target and are unlikely to adopt one formally.”The Saudis need oil at about $80 and they don’t want prices to go below $70.
Gold Prices Slip Today, Silver Bucks Trend – Gold Silver Reports
Gold Silver Reports (GSR ) – Gold prices slipped today on sluggish demand from local jewellers and weak overseas trend. In Delhi, gold of 99.9 per cent and 99.5 per cent purity shed ₹ 50 each to ₹ 31,200 and ₹ 31,050 per 10 gram, respectively, according to PTI.
Gold Slips as Trade, Emerging Market Worries Lift Dollar – Gold Silver Reports
Gold slipped on Tuesday as concerns over an escalating trade conflict between the United States and China battered emerging market currencies and prompted investors to seek perceived safety in the dollar. A stronger dollar makes dollar-priced gold costlier for non-US investors.
RBI Buys 8.46 Tonne of Gold in FY18, 1st Purchase in 9 Years
Gold Silver Reports (GSR) — The Reserve Bank of India (RBI) Held 566.23 tonne of gold as on 30 June 2018, compared with 557.77 tonne as on 30 June 2017, according to RBI’s latest annual report for 2017-18.
Gems, Jewellery Exports Decline By About 5% in April-July
Gold Silver Reports (GSR) — The country’s gems and jewellery exports contracted by around 5% to ₹10.64 billion in April-July this fiscal, mainly on account of demand slowdown in major developed markets.
Silver Ready Rose By ₹ 50 to ₹ 38,350 per Kg And Weekly-Based
Gold Silver Reports – Silver ready rose by 50 to Rs 38,350 per kg and weekly-based delivery by Rs 160 to Rs 37,115 per kg.