Gold Silver Reports — Gold Futures Edges Higher — Gold futures inched higher Friday, adding to weekly gains amid concerns about gridlock in Washington, DC, geopolitical tensions, and slumping equities. Renewed speculation that the Federal Reserve will be very cautious in raising interest rates has also given the precious metal a boost. April gold settled at $1,248.50/oz, up $1.30, or 0.1%, for a weekly gain of 1.5%.
Gold Silver Reports — Crude oil futures edged higher Friday, but posted a third straight weekly loss amid further signs of robust U.S. production. Baker Hughes said the number of active U.S. rigs drilling for oil rose by 21 to 652 rigs this week, having surged higher just about every week this winter. U.S. crude oil inventories are already at record highs. The EIA said Wednesday that stockpiles rose another 4.5 million barrels last week.
Gold Silver Reports — The International Copper Study Group (ICSG) published the latest monthly report showed in December 2016, global copper supply surplus of 17000 tons, the total shortage of 5,500 tons in whole year, was below the supply shortages of 164000 tons for 2015. ICSG data showed that in December last year, the mine produced 1.771 million tons, global mine production capacity reached 2.035 million tons, mining capacity utilization rate was 87%.
Gold Silver Reports — Crude oil futures edged higher Friday, but posted a third straight weekly loss amid further signs of robust U.S. production. Baker Hughes said the number of active U.S. rigs drilling for oil rose by 21 to 652 rigs this week, having surged higher just about every week this winter. U.S. crude oil inventories are already at record highs. The EIA said Wednesday that stockpiles rose another 4.5 million barrels last week.
Gold Silver Reports — Gold futures inched higher Friday, adding to weekly gains amid concerns about gridlock in Washington, DC, geopolitical tensions, and slumping equities. Renewed speculation that the Federal Reserve will be very cautious in raising interest rates has also given the precious metal a boost. April gold settled at $1,248.50/oz, up $1.30, or 0.1%, for a weekly gain of 1.5%.
Gold Silver Reports — Gold continued to slip in afternoon as a firm opening in European equities kept the metal under check. The commodity has extended a drop from about two month highs extended. Traders are eyeing the weekend and taking some money off the table after the sharp array of gains in the metal this week. The counter is quoting at $1248 per ounce, down 0.25% on the day. MCX Gold futures are also down 0.14% at Rs 28760 per 10 grams. Worries over poor speculative demand seem to be weighing on the metal.
Gold Silver Reports — MCX Copper slipped today following resumption of operations at a key global mine. The strike at Chiles Escondida, the worlds largest copper mine, is ending after workers decided to invoke a rarely used legal provision that allows them to extend their old contract, the union said on Thursday. The strike halted operations for more than 40 days.