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POPULAR NEWS
Gold Hits 3-Week High, on Course to Reclaiming $1,600 Perch

The fear factor across markets is like manna from heaven for gold bugs. Both bullion and futures of the yellow metal breached the key $1,580 per ounce resistance on Monday before consolidating gains, although analysts said the $1,600 target seemed well within the market™s reach. Gold futures for February delivery on New York™s COMEX settled up $5.50, or 0.4%, at $1,577.40 per ounce. It earlier reached $1,588.10, a peak since Jan. 8. Spot gold, which tracks live trades in bullion, was up...

Gold Snaps 4-Day Rise as Markets Take Breather From Virus

Gold snapped a four-day rally on Tuesday as investors returned to give life to stocks and other risk assets crushed in the aftermath of the coronavirus crisis. But the yellow metal™s retreat was, nevertheless, modest as markets awaited the outcome of the Federal Reserve™s monthly policy meeting and what that could mean for U.S. rates. Gold futures for February delivery on New York™s COMEX settled down $7.60, or 0.5%, at $1,569.80 per ounce. It reached a three-week high of $1,588.10 on...

Gold showcases haven credentials as Equities sink on Virus Fears

Gold is once again showcasing its long-standing reputation as an effective haven in troubled times, trading near the highest close in more than six years amid rising concern over the economic and human impact of China's deadly coronavirus. Prices steadied after surging Monday as investors weighed the fallout from the spread of the disease, with Germany reportedly seeing its first case. The virus has killed at least 80, and infected more than 2,700. China's markets...

Dollar Advance Kept in Check by Yen Amid Safe-Haven Rush

The dollar remained on the back foot Monday, pressured by a surprise fall in new home sales data and a bid in the yen and Swiss franc as worries intensified over the spread of the deadly coronavirus. The U.S. dollar index, which measures the greenback against a trade-weighted basket of six major currencies, rose by 0.12% to 97.97. The Commerce Department said new home sales fell fell 0.4% to a seasonally adjusted annual rate of 694,000 units in December, confounding expectations for a 1.5%...

Oil Prices Log Lowest Finish in Over 3 Months as Coronavirus Stokes Fears of Weak Demand

Oil prices fell for a fifth session in a row on Monday, settling at their lowest in more than three months, as the growing death toll and spread of China's deadly influenza over the weekend incited fresh fears that the illness could hurt global energy demand. West Texas Intermediate crude for March delivery declined by $1.05, or 1.9%, to settle at $53.14 a barrel on the New York Mercantile Exchange. Prices for the front-month contract, which fell 7.5% last week, settled Monday at their lowest...

OPEC Production Falls in December; 2019 Demand Forecast Steady
Thursday, 17 January 2019 19:15 WIB | ENERGY |Minyak jenis BrentMinyak WTI BerjangkaOpec

Oil production for Organization of the Petroleum Exporting Countries and Russia fell in December, just one month before the group officially starts a new round of output cuts, the organization stated in its monthly report on Thursday.

OPEC struck a deal last month with Russia to cut production by 1.2 barrels per day (bpd) in January, in order to prevent another oil glut.

Oil supplies from OPEC nations dipped 751,000 bpd to nearly 31.6 million bpd, according to independent figures cited by OPEC in its monthly report. Saudi Arabia was the driving force, with output falling by 468,000 bpd to just over 10.5 million bpd in December.

Global oil demand growth for 2019 was unchanged at 1.29 million bpd, while demand for OPEC countries in 2019 is forecast at 30.83 million bpd, down 910,000 bpd from 2018.

Its outlook for non-OPEC output growth was slightly lower, with 2019 supply growth at 2.1 million bpd, outstripping the increase in demand.

After the report, U.S. West Texas Intermediate (WTI) crude futures slumped 1.59% to $51.53 a barrel by 7:01 AM ET (12:01 GMT).

Brent crude futures, the benchmark for oil prices outside the U.S., fell 1.21%, to $60.58 a barrel.

Investing.com

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POPULAR NEWS
Gold Hits 3-Week High, on Course to Reclaiming $1,600 Perch

The fear factor across markets is like manna from heaven for gold bugs. Both bullion and futures of the yellow metal breached the key $1,580 per ounce resistance on Monday before consolidating gains, although analysts said the $1,600 target seemed well within the market™s reach. Gold futures for February delivery on New York™s COMEX settled up $5.50, or 0.4%, at $1,577.40 per ounce. It earlier reached $1,588.10, a peak since Jan. 8. Spot gold, which tracks live trades in bullion, was up...

Gold Snaps 4-Day Rise as Markets Take Breather From Virus

Gold snapped a four-day rally on Tuesday as investors returned to give life to stocks and other risk assets crushed in the aftermath of the coronavirus crisis. But the yellow metal™s retreat was, nevertheless, modest as markets awaited the outcome of the Federal Reserve™s monthly policy meeting and what that could mean for U.S. rates. Gold futures for February delivery on New York™s COMEX settled down $7.60, or 0.5%, at $1,569.80 per ounce. It reached a three-week high of $1,588.10 on...

Gold showcases haven credentials as Equities sink on Virus Fears

Gold is once again showcasing its long-standing reputation as an effective haven in troubled times, trading near the highest close in more than six years amid rising concern over the economic and human impact of China's deadly coronavirus. Prices steadied after surging Monday as investors weighed the fallout from the spread of the disease, with Germany reportedly seeing its first case. The virus has killed at least 80, and infected more than 2,700. China's markets...

Dollar Advance Kept in Check by Yen Amid Safe-Haven Rush

The dollar remained on the back foot Monday, pressured by a surprise fall in new home sales data and a bid in the yen and Swiss franc as worries intensified over the spread of the deadly coronavirus. The U.S. dollar index, which measures the greenback against a trade-weighted basket of six major currencies, rose by 0.12% to 97.97. The Commerce Department said new home sales fell fell 0.4% to a seasonally adjusted annual rate of 694,000 units in December, confounding expectations for a 1.5%...

Oil Prices Log Lowest Finish in Over 3 Months as Coronavirus Stokes Fears of Weak Demand

Oil prices fell for a fifth session in a row on Monday, settling at their lowest in more than three months, as the growing death toll and spread of China's deadly influenza over the weekend incited fresh fears that the illness could hurt global energy demand. West Texas Intermediate crude for March delivery declined by $1.05, or 1.9%, to settle at $53.14 a barrel on the New York Mercantile Exchange. Prices for the front-month contract, which fell 7.5% last week, settled Monday at their lowest...

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