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The gold price gives back the advance from earlier this month as the Trump administration outlines a three-phased approach to reopen the US economy, with Minneapolis Fed President Neel Kashkari, a 2020-voting member on the Federal Open Market Committee (FOMC) stating that the plan “seems consistent with the advice and the feedback that we’ve heard from health experts”.
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Gold prices today continued their uptrend today for the second day in Indian markets. On MCX, June gold futures rose 1% or ₹464 to ₹46,631 per 10 gram, after a nearly 2% or ₹850 gain in the previous session. Silver today saw sharper gains, rising 2.3% or ₹931 to ₹42,647 per kg.
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Russia unlikely to agree to deepen oil output cuts – Citing three sources familiar with talks, Reuters on Tuesday reported that Russia was unlikely to agree to deepen additional oil output cuts at the Organization of the Petroleum Exporting Countries’ (OPEC) meeting in Vienna on December 5th.
The WTI Crude Oil price of oil was lower again on Friday, with West Texas Intermediate crude travelling from a high of $56.75 to a low of $54.79 and ending the day down -0.80%. Prior to the cash close, WTI crude for November delivery has dropped lost 50 cents, or 0.9%, to settle at $55.91 a barrel on the New York Mercantile Exchange.
Gold prices remained stable at Rs. 35,870 per ten gram in Delhi Sarafa Bazar on Thursday. All India Sarafa Sangha has given this information. Silver also remained at Rs 42,300 per kg. However, silver glow has declined in global markets.
White House: US, Saudi Arabia, UAE ‘Have agreed to assure that global demand is met as all Iranian oil is removed from the market’
The average production cost for a barrel of oil in Nigeria has declined to just US$23 a barrel, Petroleum Minister Emmanuel Ibe Kachikwu told local media, adding that oil companies were not stopping there and were aiming to reduce this further, to US$15 a barrel.
Crude Oil continued its torrid start to the year as bullish supply news from the world’s second-biggest producer and disruptions to refiners along the Houston Ship Channel kept futures on pace for the best first quarter since 2002.