In Asian trade, oil prices increased, continuing a recent upward trend as speculation about tighter supply and stronger demand in the largest fuel consumer in the world increased in response to a larger-than-expected drop in U.S. stockpiles. The previous week has seen sharp losses in the crude markets as worries about slowing global demand were…
Yesterday, rising U.S. Treasury yields and a stronger currency put pressure on gold, which finished the day down -0.14% at 715554. According to data from the World Gold Council, central banks purchased a net 10 tonnes of gold in May, a substantial decrease from the 56% increase in April and well below the 42 tonnes…
The federal government authorized duty-free imports of yellow peas in early December with a target date of March 2024; this was later extended to April and finally June. It was a component of New Delhi’s involvement to lower the pulse basket’s overall pricing. The 50% tariff on yellow peas reportedly went into effect for the…
Silver prices saw a small increase of 0.1% to close at 82496 as investors kept a close eye on the Federal Reserve’s monetary policy path after the US Personal Consumption Expenditures (PCE) data was released. The annual rates exceeded projections, even though the monthly key and core inflation rates aligned with expectations. This highlights ongoing…
After prices fell on worries about weak demand, copper rose yesterday by 0.41% to close at 742.2. After China’s reopening, investors were unimpressed by the volume of purchases made there. Given the lack of demand for physical delivery, the Yanghsan copper premium has been more than cut in half since mid-March to $23 a tonne….
