Commodities

G7 members are planning to ban imports of Russian gold in order to tighten the sanctions squeeze on Moscow. However, the precious metal is expected to ignore these news headlines according to TD Securities’ experts and economists.Key Quotes“G-7 ban on new Russian gold imports isn’t expected to impact gold trading …

The US crude oil extends its gains to two consecutive days, though it faces solid resistance at the 50-EMA, around $110.33.Western Texas Intermediate records a solid bounce after testing the 100-EMA on the downside near $105.88 a barrel near the daily low and got bolstered late, as OPEC+ has cut …

Producer group OPEC+ trimmed its projected 2022 oil market surplus to 1 million barrels per day, down from 1.4 million bpd previously, a report said on Monday. The said report was prepared for the group’s upcoming meeting of the OPEC+ Joint Technical Committee scheduled to take place on Tuesday.As for …

With the G7 Summit underway, a US official said on Monday that the G7 is close to setting a global price cap for Russian oil. According to Reuters. “To issue coordinated steps tomorrow to raise pressure on Russia.”“Targeting services for transporting Russian oil is a ‘promising avenue’.”“US will impose higher …

Some Russian bondholders told Reuters they were not getting the $100 million interest they were supposed to receive after the day. For many bondholders, failure to pay on time amounts to a debt default. The Kremlin has repeatedly emphasized the idea that Russia will not default, but that sanctions against …

Oil prices extended gains on Monday as investors awaited any moves against Russian oil and gas exports that might be taken during the Group of Seven leaders meeting in Germany. There is a looming prospect of tighter market supplies as Western governments seek ways to reduce Russia’s ability to finance …

Gold prices rose on Monday as news that some Western countries are planning to formally ban imports of the metal from Russia due to its invasion of Ukraine sparked some interest in gold. And gold rose in spot transactions 0.5 percent to $ 1835.58 an ounce. US gold futures rose …

Risk appetite improved during the US session. US shares rallied and closed with robust gains after retreating to bear market levels, meaning losses of 20% or more from all-time-highs. Gold continues for the second consecutive week with losses, down 0.64% despite climbing on Friday. Lower US 10-year T-yields and the …

The Western countries aligned against Russia face growing economic pain as sanctions and embargoes show little impact and no change on the Russian stance. US officials vowed that Russia’s financial system would be battered if it attacked Ukraine, and President Biden boasted in March that sanctions were “crushing the Russian …

Gold continues for the second consecutive week with losses, down 0.64% despite climbing on Friday. Lower US 10-year T-yields and the weaker US dollar account for the latest advance. So far, the Gold Index bounces off weekly lows near $1816, recovering some ground in the week, reclaiming above the $1825 …