Saudi Arabia doesn’t yet plan production above its assigned OPEC quota of 10.311mbpd
Saudi King Reportedly Emphasises Drive Towards Ensuring Stability In Oil Markets
Gold edged lower on Tuesday as strong equities provided a risk-conducive backdrop for investors, countering support from Washington’s move to end waivers on Iranian oil sanctions.
Gold prices were firm near a 10-month peak on Thursday, with the dollar holding steady in the wake of minutes from the latest U.S. Federal Reserve meeting that rekindled expectations of a possible rate hike later in the year.
Gold Silver Reports (GSR) – Crude Oil prices rose to their highest levels since November last year on Monday, lifted by OPEC-led supply cuts and U.S. sanctions on Iran and Venezuela.
U.S. and Chinese officials expressed hopes that a new round of trade talks, which began in Beijing on Monday, would bring them closer to easing their nearly year-long trade war.
Gold Silver Reports (GSR) – The ongoing closure of parts of the Keystone pipeline that brings Canadian oil into the United States also helped prop up WTI, traders said.
Gold Silver Reports (GSR) – FUNDAMENTALS — Scrap gold supplies in India, the world’s second-biggest consumer of bullion, may increase this quarter as a rally in local gold prices has prompted consumers to sell old trinkets and jewellery.