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MCX CRUDE CMP ₹4575, What You Think after OPEC Decision – 5100 or 3800?? OPEC Result Out WHOLE World are in Sell Side, What Do You …
Gold Silver Reports (GSR) – OPEC has reached an agreement in principle to boost oil production, achieving a last-minute compromise that overcame Iran’s threats to veto any supply hike. The preliminary accord allows for an additional 600,000 barrels a day of oil to flow onto the market, about 0.5 percent of global supply, said a delegate. That reflects a 1 million barrel-a-day adjustment on paper to the production cuts implemented by the Organization of Petroleum Exporting Countries and its allies, the delegate said, asking not to be named because the information is private.
Gold Silver Reports (GSR) – Iranian Oil Minister Bijan Namdar Zanganeh said he had a good meeting with his Saudi counterpart in Vienna on Friday and he wasn’t feeling pessimistic about the possibility for a compromise — a reversal of his position on Thursday night. After a tumultuous few weeks that have whipsawed crude markets, his comments suggested oil consumers from the U.S. to India and China could soon find some relief from high prices.
Gold Silver Reports (GSR) – US initial claims for state unemployment benefits decreased 3,000 to a seasonally adjusted 218,000 for the week ended June 16, compared with the expected 220,000. Claims have now declined for four weeks in a row, pointing to a further tightening of the labour market.
Gold Silver Reports (GSR – INDIA) – Spot gold was 0.1 per cent higher at $1,268.24 an ounce by 0057 GMT. It touched its lowest since Dec. 19 at $1,260.84 on Thursday. US gold futures for August delivery were nearly unchanged at $1,270.20 per ounce.
Silver Spot Below $16.25 Level No Buying @all, Only Panic-Panic-Panic – Tips Buy Neal Bhai