Gold hit a record high on Friday as global stock markets gained on reassuring data about the health of the world’s biggest economy and likely US interest rate cuts.
oil Market
Crude oil prices fall on concerns over Chinese Demand
Crude oil prices fell on Tuesday as concerns about a slowdown in China’s economy hurt demand, although a growing consensus that the U.S. Federal Reserve will start cutting its key interest rates as soon as September limited the declines.
Energy Market Report: MCX Crude Recovers In Asia
Crude oil recovered in Asia today after witnessing sustained losses yesterday The WTI Crude futures tested a low near $55.40 per barrel and edged up. The counter currently trades at $56.40 per barrel, up 0.30% on the day even as the global growth worries stayed in place. MCX Crude oil futures ended at Rs 3940 per barrel, down 1.70% on the day.
Oil Jumps On Large Crude Inventory Draw
Gold Silver Reports (GSR) – Crude oil prices inched higher today after the EIA released its latest Weekly Petroleum Status Report, in which the authority said crude oil inventories had fallen by 8.6 million barrels in the week to February 22, though they are still above the seasonal five-year average.
OPEC And its Allies Are Set To Meet on Dec. 6 to Discuss Supply Cuts
Gold Silver Reports (GSR) – Growing fears of an economic slowdown, which saw global stock markets tumble again, added further pressure on crude.
Crude Oil WTI Tips – Keey Eye on $57.50 Above We See Only Blast – Neal Bhai Commodity Guru
Crude Oil WTI Tips – Keey Eye on $57.50 Above We See Only Blast – Neal Bhai Commodity Guru
Asian Shares Slip; Oil Steadies Near a 2014 High: Markets Wrap
The Nikkei 225 Stock Average retreated from an intraday high, after closing Monday at its highest since 1991. Stocks in Hong Kong underperformed as traders returned from a long weekend, and equities also fell in Australia and South Korea. China’s markets are shut throughout the week. Earlier, the S&P 500 Index finished higher, though more stocks fell than rose in the benchmark index. The pound rose following a report the U.K. is planning a compromise on Irish border rules, before pulling back.
Traders Cautious About CPI Data As Weak Rupee, High Oil Prices Sour Outlook
Indeed, traders are increasingly worried that high oil prices and a weakening rupee would force the central bank to raise rates sooner rather than later. The yield on the 10-year bond rose two basis points to 8.18 percent on Tuesday.
WTI Crude Oil Backs off From $70 Despite Iran Sanctions
Gold Silver Reports (GSR) – The US official reimpose sanctions on Iran today in a move that will cut global oil supply. The news was accompanied by a presidential tweet.
Iran Decision: What’s at Stake for Global Oil Market?
Gold Silver Reports (GSR) – Iran Decision: What’s at Stake for Global Oil Market? – He could still surprise the world by agreeing to stay in the accord as diplomats try to negotiate side agreements to address his concerns, but foreign leaders and analysts say the president is likely to exit. That could result in renewed sanctions on the third-largest crude producer in the Organization of Petroleum Exporting Countries.