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POPULAR NEWS
Gold futures down a third straight session

Gold futures marked a third straight session decline on Wednesday, posting their lowest settlement in more than three weeks. Strength in the U.S. stock market, as well as smaller-than-expected private-sector job losses in May pressured prices for the haven metal. August gold fell by $29.20, or 1.7%, to settle at $1,704.80 an ounce. That was the lowest finish for a most-active contract since May 11, according to FactSet data. Source: Marketwatch

Gold Under Pressure as Investors Snap Up Stocks, Dulling Demand for Havens

Gold lost ground Wednesday, unable to find traction higher as demand for equities dulls haven-related demand for the precious metal. Gold for August delivery on Comex was down $3.90, or 0.2%, at $1,730.20 an ounce. July silver was up 2 cents, or 0.1%, at $18.280 an ounce. Stock-index futures pointed to a higher start for U.S. equities, which have pushed back to early March levels on optimism over efforts to reopen the economy. Gold has failed to find much in the way of traditional haven...

Gold Eases as Equity Rally Boosts Risk Appetite

Gold prices dipped on Wednesday as equity markets rallied on economic optimism and hopes for further stimulus measures boosted risk-on sentiment. Spot gold was down 0.2% at $1,722.93 per ounce, as of 1252 GMT. U.S. gold futures fell 0.3% to $1,729.70. Asian equities were set to follow the global equity rally from Tuesday, on hopes of more government stimulus. On Tuesday, stocks in the U.S., Europe and emerging markets hit their highest levels since early March. Traders hope that the...

Gold Declines as Investors Assess Recovery, Protests

Gold dropped for a second day as traders assessed the haven™s merits amid a rally in stocks and positive signs from economies reopening, while also focusing on continued civil unrest across the U.S. Businesses are resuming operations worldwide, while manufacturing gauges are painting a more optimistic picture. Activity in China has recovered to 80% to 85% of pre-virus levels, according to Bloomberg Economics. Still, risks to growth remain, including simmering U.S.-China relations...

Oil rises nearly 4% ahead of OPEC+ meeting, easing lockdowns

Oil prices were up about $1 a barrel on Tuesday on expectations that major producers will agree to extend output cuts during a video conference likely to be held this week and as countries and U.S. states begin to restart after coronavirus lockdowns. West Texas Intermediate crude climbed $1.37, or 3.87%, to settle at $36.81 per barrel. Brent crude rose 2.7%, or $1.04, to $39.36 a barrel. The Organization of the Petroleum Exporting Countries and others including Russia, a grouping known as...

Oil Ends at Lowest in Over a Year; U.S. Prices Drop Under $50 a barrel
Wednesday, 5 February 2020 04:00 WIB | COMMODITY |BrentWTIMinyak

Oil futures gave up earlier gains to finish with a loss on Tuesday, with U.S. prices below $50 a barrel for the first time in more than a year, as demand worries continue to plague the market.

Prices fell even as the Organization of the Petroleum Exporting Countries and its allies considered deeper production cuts to stem a coronavirus-inspired tumble in the commodity that entered a bear market a day ago.

The Wall Street Journal and others have reported that OPEC and its allies including Russia, known as OPEC+, were considering cutting crude output by a further 500,000 barrels a day.

However, among the scenarios under discussion at a technical meeting held in Vienna on Tuesday and Wednesday, one may be even larger production cuts of 800,000 barrels to 1 million barrels a day, the Journal reported Tuesday. Officials told the Journal that they are set to issue recommendations this week, with a final decision to come after a meeting of OPEC and its allies, likely sometime next week.

OPEC™s website still lists the next group gathering as March 5 for the special meeting of the OPEC Conference and March 6 for the OPEC+ meeting.

West Texas Intermediate crude for March delivery lost 50 cents, or 1%, to settle at $49.61 a barrel on the New York Mercantile Exchange, a day after it entered a bear market, down 20.8% from its recent high of $63.27 on Jan. 6, according to Dow Jones Market Data. A decline of at least 20% from a recent peak is the traditional definition of a bear market. Tuesday™s settlement was the lowest since Jan. 7, 2019.

April Brent crude fell 49 cents, or 0.9%, to $53.96 a barrel on ICE Futures Europe”its lowest settlement since Dec. 31, 2018. The international benchmark entered into a bear market on Monday, down 21% from its recent high of $69.02 from Sept. 16.

As of midnight Monday, China had 20,438 diagnosed coronavirus cases, with 425 deaths, according to China™s National Health Commission.

Source : Market Watch

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POPULAR NEWS
Gold futures down a third straight session

Gold futures marked a third straight session decline on Wednesday, posting their lowest settlement in more than three weeks. Strength in the U.S. stock market, as well as smaller-than-expected private-sector job losses in May pressured prices for the haven metal. August gold fell by $29.20, or 1.7%, to settle at $1,704.80 an ounce. That was the lowest finish for a most-active contract since May 11, according to FactSet data. Source: Marketwatch

Gold Under Pressure as Investors Snap Up Stocks, Dulling Demand for Havens

Gold lost ground Wednesday, unable to find traction higher as demand for equities dulls haven-related demand for the precious metal. Gold for August delivery on Comex was down $3.90, or 0.2%, at $1,730.20 an ounce. July silver was up 2 cents, or 0.1%, at $18.280 an ounce. Stock-index futures pointed to a higher start for U.S. equities, which have pushed back to early March levels on optimism over efforts to reopen the economy. Gold has failed to find much in the way of traditional haven...

Gold Eases as Equity Rally Boosts Risk Appetite

Gold prices dipped on Wednesday as equity markets rallied on economic optimism and hopes for further stimulus measures boosted risk-on sentiment. Spot gold was down 0.2% at $1,722.93 per ounce, as of 1252 GMT. U.S. gold futures fell 0.3% to $1,729.70. Asian equities were set to follow the global equity rally from Tuesday, on hopes of more government stimulus. On Tuesday, stocks in the U.S., Europe and emerging markets hit their highest levels since early March. Traders hope that the...

Gold Declines as Investors Assess Recovery, Protests

Gold dropped for a second day as traders assessed the haven™s merits amid a rally in stocks and positive signs from economies reopening, while also focusing on continued civil unrest across the U.S. Businesses are resuming operations worldwide, while manufacturing gauges are painting a more optimistic picture. Activity in China has recovered to 80% to 85% of pre-virus levels, according to Bloomberg Economics. Still, risks to growth remain, including simmering U.S.-China relations...

Oil rises nearly 4% ahead of OPEC+ meeting, easing lockdowns

Oil prices were up about $1 a barrel on Tuesday on expectations that major producers will agree to extend output cuts during a video conference likely to be held this week and as countries and U.S. states begin to restart after coronavirus lockdowns. West Texas Intermediate crude climbed $1.37, or 3.87%, to settle at $36.81 per barrel. Brent crude rose 2.7%, or $1.04, to $39.36 a barrel. The Organization of the Petroleum Exporting Countries and others including Russia, a grouping known as...

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