Gold subdued as investors await further data for Fed rate cues

[ GOLD prices eased on Monday, as investors were cautious ahead of more U.S. economic data release, while reports from last week showed that inflation was stabilising, lifting expectations that the Federal Reserve will likely cut interest rates this year. Spot gold was down 0.5% at $2,318.79 per ounce, as of 0753 GMT, after rising … Read more

Oil posts weekly gain on solid 2024 demand outlook

[ SINGAPORE: Oil futures prices settled slightly lower on Friday after a survey showed deteriorating US consumer sentiment, but prices rose 4% for the week as investors weighed forecasts for solid demand for crude oil and fuel in 2024. Brent crude futures settled down 13 cents at US$82.62 a barrel, while West Texas Intermediate (WTI) … Read more

Oil dips on Opec+ decision, deflated rate-cut hopes

[Oil prices edged down on Friday and posted a third straight weekly loss as investors weighed Opec+ reassurances against the latest US jobs data that lowered expectations that the Federal Reserve will cut interest rates soon. Read full story Read original article here Denial of responsibility! Genx Newz is an automatic aggregator of the all world’s … Read more

Stocks in Asia gain on rate-cut wagers, India markets choppy

[ SINGAPORE: Asian stocks broadly rose on Wednesday, while the dollar was steady as a softening U.S. labour market firmed up bets of a Federal Reserve interest rate cut in September and investors awaited crucial payrolls report later this week. Worries about a cooling U.S. economy, however, kept a lid on risk appetite, while the … Read more

Tight supply, solar demand drive antimony prices to record high

[ PRICES of antimony, a strategic metal used in flame-retardants, batteries and munitions, are rising to record highs as solar sector demand outstrips supply, causing a wide deficit with little sign of easing, smelters and analysts say. The surge in prices, which industry participants expect to persist, underscores the West’s vulnerability in relying on top … Read more

Cocoa falls as better African weather eases supply concerns

[ ACCRA: Cocoa declined to near a two-month low in New York as favourable weather in West Africa eased concerns over severe shortages. Futures fell as much as 4.2% to below US$7,000 a tonne. Prices soared to a record above US$11,000 in mid-April as poor African harvests rattled the market, but have since fallen as … Read more

Oil gains 1% on hopes of firmer demand

[ NEW YORK: Oil prices settled about 1% higher on Friday, with global benchmark Brent crude recording its first weekly gain in three weeks, after economic indicators from the world’s top two oil consumers – China and the US – bolstered hopes for higher demand. Brent settled 71 cents higher, or 0.9%, at US$83.98 a … Read more

Asia stocks touch 15-month top, wary of US inflation

[ SYDNEY: Asian shares eked out a 15-month high on Monday in a week where inflation figures could make or break hopes for earlier U.S. rate cuts, while Chinese activity data will test optimism about a sustained recovery in the world’s No. 2 economy. Beijing has already reported a welcome pickup in inflation to an … Read more

Oil falls on prospect of higher-for-longer US rates

[ NEW YORK: Oil prices fell by nearly US$1 a barrel on Friday as comments from US central bank officials indicated higher-for-longer interest rates, which could hinder demand from the world’s largest crude consumers. Brent crude futures settled at US$82.79 a barrel, down US$1.09, or 1.3%. US West Texas Intermediate crude settled at US$78.26 a … Read more

Calls for planters to increase use of technology

[ BANTING: The plantation sector has been advised not to cut down new forests for oil palm cultivation but instead increase the use of technology to raise production and income. Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani said this was one of the three main points emphasised by Prime Minister Datuk Seri Anwar … Read more