Business News Corona Hits US 

US-China trade optimism to limit XAU/USD’s rebound

By Administrator_India Capital Sands   Gold (XAU/USD) started out the week on the back foot and closed Monday below $1930, extending Friday’s weakness. The spot once again failed to sustain above the $1950 level, as the coronavirus vaccine optimism lifted the risk sentiment and dulled the haven appeal of gold. Wall Street closed at record highs while the rally in the US Treasury yields prompted the US to stage a solid comeback across the board. Markets cheered the US Food and Drug Administration’s authorization of the use of blood plasma from…

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Business News Commodity Broker 

Investors still remain attracted towards precious metals, thanks to US-China trade tensions

By Administrator_India Capital Sands   Last week began with gold trading near record high levels, although a few factors along the way started to turn around, including hopes for a COVID-19 vaccine, rise in treasury yields, strong dollar and positive economic data. There are no words which can describe last week’s movement as even “wild swings” is an understatement. Although, after experiencing an intense session of profit-taking earlier in the week, gold is trading back above $1,950 per troy ounce. Some caution is necessary and should be expected after the…

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Commodity Economic News 

Hike in Gold Price Slows, Still Near Record Highs

By Administrator_India Capital Sands   Gold hovered around record highs on Wednesday morning in Asia as the US dollar remained weak and debate continued in the U.S. over the next COVID-related stimulus package. Gold futures gained 0.05% to $1,945.60, lower than the $1,968.00 level hit on Tuesday, suggesting that the relentless climb in the price of the yellow metal may be coming to an end. Investors are also looking to the U.S. Federal Reserve’s meeting, scheduled for later in the day, for clues on the U.S. economy’s health. However, some…

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Commodity Covid-19 

Oil Holds Near $41 Amid Concerns About U.S. Demand Recovery

By Administrator_India Capital Sands   Oil held losses near $41 a barrel in New York as signs of weakness in the U.S. labor market cast doubt on the strength of the demand recovery in the world’s biggest crude consumer. The first increase in jobless claims since March comes as lawmakers negotiate another virus relief package, while infections and deaths surged across many regions in the U.S. Oil was still poised to eke out a second weekly gain, buoyed earlier in the week by stimulus measures agreed by European Union leaders.…

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Commodity Covid-19 

Gold hovers near nine-year high as virus fears drive safe-haven demand

By Administrator_India Capital Sands   Gold rose on Tuesday, hovering near a nine-year peak hit in the last session, as worries over a spike in COVID-19 cases and expectations for inflation from more economic stimulus measures boosted demand for the safe-haven metal. Spot gold was up 0.1% at $1,817.23 per ounce, after hitting its highest since September 2011 at $1,820.06 on Monday. U.S. gold futures were little changed at $1,817.80. European Union leaders appeared to near an agreement on Monday on a 750-billion-euro stimulus plan for regional economies hit by…

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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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