Oil traded near $62 a barrel on concerns an increase in American drilling may undermine OPEC™s efforts to drain a global glut.
Futures were little changed in New York after rising 4.2 percent last week as equity markets rebounded and a weakening dollar boosted demand for commodities. U.S. drillers boosted the number of rigs exploring oil to the highest since April 2015, Baker Hughes said last week. Hedge funds cut bets on rising West Texas Intermediate oil prices by...
Gold advances as the dollar weakens, with investors waiting for release of minutes of Federal Reserve™s Jan. 30-31 meeting due Wednesday, and as inflation remains on radar.
Bullion for immediate delivery +0.3% to $1,350.34/oz by 9:59am in Singapore, according to Bloomberg generic pricing
Metal +2.3% last week, biggest weekly gain since Sept.
Bloomberg Dollar Spot Index -0.2% after -1.3% last week
In other precious metals: Silver +0.4% to $16.7177/oz....
Asian shares started Monday higher as confidence in equities continued to return, with some markets in the region reopening after the Lunar New Year holiday.
South Korea™s Kospi was up 1.2%, Singapore™s benchmark gained 0.5% and Japan™s Nikkei Stock Average rose 1.1%, helped by some yen softening after last week™s sharp rises. Shares in Australia also rose while stocks in New Zealand underperformed.
Markets in China, Hong Kong and Taiwan remain closed for the holiday. U.S. markets...
Saham Tokyo dibuka menguat pada hari Senin, didukung oleh investor atas kenaikan lanjutan di Wall Street pekan lalu.
Indeks acuan Nikkei 225 naik 0,72% atau 155,32 poin menjadi 21,875.57 pada awal perdagangan sementara indeks Topix yang lebih tinggi naik 0,82% atau 14,28 poin pada level 1.751,65.(yds)
Gold futures fell modestly Monday, giving up part of last week™s gain, as a steadier dollar weighed on the metal, and as the Presidents Day holiday in the U.S. gave many traders the session off.
April gold lost $5.40, or 0.4%, to $1,350.80 an ounce in electronic trading, while March silver shed a nickel, or 0.3%, to $16.66 an ounce.
The drop came as the dollar was steady to slightly higher against major rivals.
A weaker buck can boost commodities priced in dollars, because it makes them...