Commodity Economic News 

Gold Down Over Hopes For a COVID-19 Vaccine

By Administrator_India Capital Sands   Gold was down on Thursday morning in Asia, with investor sentiment boosted by positive results from yet another potential COVID-19 vaccine. U.S. pharmaceutical company Pfizer announced the results from the early stage human trial for BNT162b1, its mRNA candidate jointly developed with German biotech firm BioNTech, on Wednesday. The results showed production of neutralizing antibodies in all the patients who were inoculated after 28 days. Pfizer also has three other mRNA candidates under development. Gold futures slid 0.16% to $1,777.05, as investors retreated from the…

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Commodity Economic News 

Oil rises after drop in U.S. crude stocks suggests demand pickup

By Administrator_India Capital Sands   Oil prices rose more than 1% on Wednesday after data showed crude inventories in the United States fell much more than expected, suggesting demand is improving even as the coronavirus outbreak spreads around the world. Brent crude rose 48 cents, or 1.2%, to $41.75 a barrel after declining more than 1% on Tuesday. U.S. crude was up 54 cents, or 1.4%, at $39.81 a barrel, having dropped by 1.1% in the previous session. U.S. crude and gasoline stocks declined more than expected last week, while distillate…

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Commodity Commodity Broker 

Gold Up Over Rising COVID-19 Cases and U.S.-China Tensions

By Administrator_India Capital Sands   Gold was up on Friday morning in Asia, amid a rising number of COViD-19 cases in China and the U.S. as well as rising U.S.-China tensions. Beijing reported 25 new COVID-19 cases on Thursday, with the number of cases linked to an outbreak in the Xinfadi market now standing at almost 200. Some U.S. states also reported a spike in cases. Meanwhile, U.S. President Trump also warned on Thursday that cutting ties with China remained a possibility a day after Secretary of State Mike Pompeo…

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Commodity Covid-19 

Gold Down Over Record Jump in U.S. Retail Sales Data and Potential COVID-19 Cure

By Administrator_India Capital Sands   Gold was down on Wednesday morning in Asia, with the yellow metal stemmed by positive U.S. retail sales data and mounting COVID-19 and geopolitical fears. Gold futures fell by 0.13% at $1,734.20. Stocks, which usually move in the opposite direction to gold, were mostly down on Wednesday. The U.S.’ announcement of a record increase in May retail sales on Tuesday led to an investor retreat from gold as hopes of a quick recovery from the economic impact of COVID-19 increased risk appetite and the dollar rose. Meanwhile,…

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Asian Market Commodity 

Asian stocks, oil fall as second wave fears grow

By Administrator_India Capital Sands   Asian shares stumbled on Monday and oil prices slipped as fears of a second wave of coronavirus infections in Beijing sent investors scurrying for safe-havens while underwhelming data from China further weighed on sentiment. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.3% with Australian shares off 0.1% and South Korea easing 0.3%. Japan’s Nikkei faltered 0.7%. Chinese shares opened in the red with the blue-chip CSI300 index down 0.1%. Monday’s losses follow a strong rally in global equities since late March, fuelled by the…

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Commodity South Korea 

South Korea’s jobs fall in April at sharpest pace since 1999

By Administrator_India Capital Sands South Korea’s unemployment rate was unchanged in April but the number of employed fell at its fastest in more than two decades, data showed on Wednesday, as efforts to contain the coronavirus pandemic shut businesses and cut social activity. The nation’s unemployment rate was a seasonally adjusted 3.8% in April, unchanged from March. However, the number of employed was 26.6 million in April, 476,000 fewer than a year earlier, for the worst plunge since February 1999, when the figure shrank 658,000, data from Statistics Korea showed.…

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Europe Weakens; Weighed by Losses in Oil Sector Commodity Covid-19 

Oil falls as crude in U.S. storage nears all-time high

By Administrator_India Capital Sands   Oil prices fell on Monday on signs that worldwide oil storage is filling rapidly, raising concerns that production cuts will not be fast enough to catch up with the collapse in demand from the coronavirus pandemic. U.S. oil futures led losses after U.S. crude inventories rose to 518.6 million barrels in the week to April 17, near an all-time record of 535 million barrels set in 2017, while floating crude oil storage has hit an all-time high of 160 million barrels. U.S. West Texas Intermediate…

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Europe Weakens; Weighed by Losses in Oil Sector Commodity Oil 

Europe Weakens; Weighed by Losses in Oil Sector

By Administrator_India Capital Sands European stock markets sold off Tuesday, weighed by losses in the energy sector as investors react to the price of oil turning negative overnight. At 4:25 AM ET (0825 GMT), the U.K.’s FTSE index traded 1.5% lower, France’s CAC 40 was down 2.1%, while the DAX fell 2.2%. The broader based Stoxx 600 Europe index dropped 1.4%. The price of a barrel of West Texas Intermediate crude to be delivered in May closed at negative $37.63 on Monday, the penultimate day of trading for that contract, as investors and traders desperately sought to avoid…

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