Source: AFP
Oil prices rose on Tuesday, helped by positive news about vaccine trials and a European Union stimulus deal reaching levels last seen when an oil price war erupted in early March between Russia and Saudi Arabia.
Russia balked at OPEC’s proposed steep production cuts to stabilize prices. A Russian high-level source told Reuters that Moscow would not back a call for extra reductions in oil output and would agree only to an extension of existing cuts by the Organization of the Petroleum Exporting Countries and its allies, a group known as OPEC+.
Gold Silver Output January – March Month Russian Jan-March Gold Output @ 58.12 Tonnes, Silver Output @ 223.28 Tonnes – Russian Finance Ministry
डब्ल्यूजीसी (WGC) के मार्केट इंटेलिजेंस के प्रमुख एलिस्टेयर हेविट के अनुसार कई देशों के सेंट्रल बैंकों की तरफ से गोल्ड की भारी डिमांड (gold demand) है। इनका मानना है कि चालू वित्तीय वर्ष में कई देशों की तरफ से गोल्ड की मांग (gold demand) बनी रहेगी।
Central Banks Buy Gold 145.5 Tons in First Quarter, a 68 percent increase from a year earlier, the World Gold Council said Thursday in a report. Russia or China remains the largest buyer as the nation reduces its U.S. Treasury holdings as part of a de-dollarization drive.
India’s central bank is likely to join counterparts in Russia and China scooping up gold this year, adding to its record holdings and lending support to worldwide bullion demand as top economies diversify their reserves.
White House: US, Saudi Arabia, UAE ‘Have agreed to assure that global demand is met as all Iranian oil is removed from the market’
Crude Oil closed at its highest yet this year as OPEC and its partners committed to continuing production cuts until at least June, when they will meet to discuss an extension.