Oil prices steadied on Friday near a two-month high of $77.50 a barrel and were headed for a third straight week of gains, supported by global output disruptions and inventory draws. The rally was slightly dampened by China’s first public sale of state crude reserves. Brent crude was up 17 cents, or 0.22%, at $77.42 Read More
Oil prices climbed more than $1 on Wednesday after U.S. crude stocks fell to their lowest levels in three years as refining activity recovered from recent storms. Despite recent wobbles from U.S. economic figures, overall demand for fuel has rebounded to pre-pandemic levels. Product supplied over the last four weeks has come in at nearly Read More
Gold prices were steady on Wednesday as investors braced for the outcome of a U.S. Federal Reserve meeting and chief Jerome Powell’s remarks on reducing its massive support for the pandemic-hit economy. Spot gold rose 0.1% to $1,775.36 per ounce by 0840 GMT, while U.S. gold futures fell 0.2% to $1,775.00. “The markets are already Read More
Gold prices were flat on Tuesday as investors adopted a risk-averse stance amid caution ahead of U.S. Federal Reserve’s policy meeting where the central bank is expected to provide cues on when it will begin tapering its asset purchases. Bullion is considered as a hedge against inflation and currency debasement likely resulting from the widespread stimulus. Read More
Oil dropped more than $1 a barrel to around $74 on Monday as rising risk aversion weighed on stock markets and boosted the U.S. dollar, while more U.S. Gulf oil output came back online in the wake of two hurricanes. The U.S. dollar, seen as a safe haven, rose as worries about Chinese property developer Read More
Quantum chemists believe that gold, silver, and copper could be promising candidates for hydrogen storage. This has huge implications for green energy, as hydrogen is incredibly volatile and challenging to store at ambient temperatures. Dr. Cristina Trujillo, a research fellow at Trinity College Dublin’s School of Chemistry, said in an interview with phys.org, “Among the Read More
Gold prices on Wednesday consolidated in a tight range near the key $1,800 level as softer U.S. inflation data fed uncertainty about the Federal Reserve’s tapering timeline. Spot gold was down 0.2% at $1,800.38 per ounce, but slightly off a one-week peak of $1,808.50 hit on Tuesday, in part because the dollar recovered some ground Read More
Oil prices extended gains on Tuesday, hovering near a six-week high, on signs another storm could affect output in Texas this week even as the U.S. industry struggles to return production after Hurricane Ida wreaked havoc on the Gulf Coast. Brent crude rose 15 cents, or 0.2% to $73.66 a barrel by 0048 GMT, having Read More
Precious metals and gold and silver ETFs are making moves higher on Friday, reaching month-long highs following August’s disappointing U.S. employment report. Both metals have been moving off their recent lows since early last month, with silver climbing over $2.50 per ounce during that time and gold rallying more than $150 an ounce. On Friday, Read More
Gold prices dropped for the second straight by Rs 196 to Rs 47,203 per 10 gram in the Mumbai retail market on firm dollar and rising US Treasury yields. The yellow metal traded in a narrow range ahead of the ECB policy meet outcome tomorrow. The price of 10 gram, 22-carat gold in Mumbai was Read More
