Category: Commodity

Gold

Gold Up Over Cautious Stimulus Hopes

By Administration_ India Capital Sands Gold futures inched up 0.01% at $1,870.50 by 10:47PM ET (3:47 AM GMT). U.S. President Donald Trump said on Tuesday that he may not sign a COVID-19 bill passed by both the House of Representatives and the Senate on Monday. He called the bill an unsuitable “disgrace,” but stopped short of threatening to veto the legislation. […]

Oil Down

Oil Down, Rise in COVID-19 Cases Leads to Fuel Demand Worries

By Administrator_ India Capital Sands Oil was down on Friday morning in Asia, with ever-rising numbers of COVID-19 weighing on fuel demand and the U.S. Congress continuing negotiations for a $900 billion economic stimulus bill. Brent oil futures were down 0.23% to $51.38 by 11:02 PM ET (4:02 AM GMT) and WTI futures inched down 0.04% to $48.34. Both Brent and WTI futures […]

Oil Down

Oil prices drop on US stock build, delay in OPEC+ meeting

By Administrator_ India Capital Sands Oil prices extended losses on Wednesday, hit by a surprise build in oil inventories in the United States and as OPEC and its allies left markets in limbo by delaying a formal meeting to decide whether to increase output in January. Brent crude oil futures were down by 27 cents, or 0.6%, at $47.15 a […]

Oil Continues Rise on Vaccine, Stockpile News

By Administrator _India Capital Sands Oil was up on Wednesday morning in Asia, with gains of over 11% in the last two days. Prices have been buoyed by positive COVID-19 vaccine news and encouraging U.S. stockpile data. Brent oil futures rose 0.92% to $44.01 by 11:45 PM ET (3:45 AM GMT) and WTI futures jumped 1.06% to $41.80. Oil has continued its recent […]

Oil prices decline with OPEC+ warning of precarious market outlook

By Administrator _ India Capital Sands Oil extended declines as Opec+ warned of a precarious outlook for the market while a resurgent virus hits consumption. Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman, speaking at the coalition’s committee meeting on Monday, called on the group to be proactive in the face of uncertain demand. The comments are strengthening expectations that Opec and […]

Oil glut trade on brink of a return; Brent crude falls below $40

By Administrator_India Capital Sands The combination of a stalling Asian demand recovery, the end of the US summer driving season, and increased supply from the Opec+ alliance are signaling a bleak short-term outlook for oil prices. The global Brent crude benchmark is currently trading quite deeply in a bearish pattern known contango, where the most immediate prices are far below those […]

US-China trade optimism to limit XAU/USD’s rebound

By Administrator_India Capital Sands Gold (XAU/USD) started out the week on the back foot and closed Monday below $1930, extending Friday’s weakness. The spot once again failed to sustain above the $1950 level, as the coronavirus vaccine optimism lifted the risk sentiment and dulled the haven appeal of gold. Wall Street closed at record highs while the rally in the US […]

Dollar wallows and stocks inch higher as stimulus eyed

By Administrator_India Capital Sands The dollar languished and just about everything else rose on Thursday, as markets took patchy U.S. economic data as a harbinger of ever more stimulus and brinkmanship on Capitol Hill as a sign that a deal on a new U.S. stimulus package is close. Following Wall Street’s lead, MSCI’s broadest index of Asia-Pacific shares outside Japan […]

Gold hovers near nine-year high as virus fears drive safe-haven demand

By Administrator_India Capital Sands Gold rose on Tuesday, hovering near a nine-year peak hit in the last session, as worries over a spike in COVID-19 cases and expectations for inflation from more economic stimulus measures boosted demand for the safe-haven metal. Spot gold was up 0.1% at $1,817.23 per ounce, after hitting its highest since September 2011 at $1,820.06 on […]

Gold Down Over Hopes For a COVID-19 Vaccine

By Administrator_India Capital Sands Gold was down on Thursday morning in Asia, with investor sentiment boosted by positive results from yet another potential COVID-19 vaccine. U.S. pharmaceutical company Pfizer announced the results from the early stage human trial for BNT162b1, its mRNA candidate jointly developed with German biotech firm BioNTech, on Wednesday. The results showed production of neutralizing antibodies in […]