Gold prices jumped about 1 percent to their highest level in more than a month on Monday, as concerns about the economic fallout from the Russia-Ukraine war and rising inflation pushed investors to the precious metal as a safe haven. And the price of gold in spot transactions reached 1993.28 …
Read More »Oil prices rise on supply concerns as the Ukraine crisis deepens
Oil prices rose to their highest level in nearly three weeks on Monday, as fears of a global supply tightness intensified as the crisis in Ukraine deepened, raising the prospect of tougher Western sanctions against Russia, the world’s largest crude exporter. Brent crude futures rose 1.09, or 1.0 percent, to …
Read More »Gold prices rise to the highest level in more than a month
Gold prices rose on Monday to touch their best level since mid-March after the Russian-Ukrainian crisis pushed investors to safe haven. And the price of gold in spot transactions rose 0.5 percent to $ 1984.20 an ounce its highest level since March 14. And US gold futures rose 0.8 percent …
Read More »China-EU commercial ties too hard to break despite Ukraine war
China surpassed the United States to become the European Union’s (EU) largest trading partner in 2020-21 thanks to strong demand during the pandemic. Despite EU frustrations with Beijing over its stance on the Ukraine war, trade ties will be hard to break, regardless of attempts by EU policymakers to diversify …
Read More »Russian economy to crash as sanctions get intensified
The Russian economy is poised to collapse this year after the U.S. and its European allies hit the Kremlin with a slew of crippling financial penalties over its unprovoked invasion of Ukraine. Russian manufacturing activity plunged in March, contracting at the sharpest pace since May 2020 as businesses confronted a …
Read More »EU To Draft Embargo On Russian Oil
The European Union has started drafting its proposal for an embargo on Russian oil imports as its latest response to the war in Ukraine, the New York Times reported, citing Brussels officials and diplomats.The embargo will most likely be introduced in a gradual way, similar to the planned Russian coal …
Read More »China Suffers From Slow Economic Growth
The size of China’s economy was $17.7 trillion in 2021, according to official figures, so 5.5 percent growth would mean about $1 trillion more in 2022. Using growth in 2019 as a basis for comparison, business investment in China would need to contribute about 1.5 percentage points toward the 5.5 …
Read More »US natural gas stocks rise by 15 billion cubic meters
US natural gas inventories recorded reading in line with market expectations this week, as natural gas inventories rose by 15 billion cubic meters during the week ending last Friday. This reading is in line with market expectations. This reading is worse than the previous reading, which showed a decrease in …
Read More »Gold is on its way to achieving weekly gains amid political and economic risks
Gold prices fell on Thursday but were still on track to record a weekly increase, supported by the demand for safe havens due to the Ukraine crisis and mounting price pressures. By 1100 GMT, gold fell in spot transactions 0.2 percent to $ 1973.41 an ounce, after rising for six …
Read More »Oil Prices Fall Amid Mixed Signals on Supplies
Oil prices fell on Thursday in limited trading ahead of a public holiday, as traders weighed the impact of a larger-than-expected rise in US oil inventories in the face of global supply shortages. By 0632 GMT, Brent crude futures fell $1.14, or 1.1 percent, to $107.64 a barrel, while the …
Read More »