Commodities

Tesla is raising prices for its entire electric car lineup – a move that came days after CEO Elon Musk warned the firm was under “significant” inflationary pressure given the rising cost of key commodities following the Russian invasion of Ukraine.For example, Tesla’s cheapest available car, the Model 3 with …

Canada’s benchmark index extended losses for a third straight session on Tuesday, as weakness in energy and metal prices due to rising COVID-19 cases in China weighed on commodity stocks.The Toronto Stock Exchange’s S&P/TSX composite index was down 161.23 points, or 0.76%, at 21,019.55. The energy and materials sectors fell …

Beijing scrambles to contain the worst outbreak China has seen since Wuhan in early 2020, as daily infections surpass 5,000. Lockdowns in coastal cities, including the first imposed on Shenzhen, prompt warning that situation has ‘deteriorated at an alarming pace’, with big economic hit ahead. China faces biggest Covid-19 crisis …

Russia’s President Vladimir V. Putin has said that Kyiv is not serious about finding a mutually acceptable solution.Markets have reacted negatively to the news, with stocks retreating from the highs and the safe-haven dollar and gold rising. Investors have been pinning their hopes on negotiations between Russia and Ukraine, which …

After massive commodity producer Russia was exiled from the world economy, a new shock is emerging from China; the world’s biggest user of raw materials.The big picture for commodities prices is that they turned tail and tumbled yesterday, as China imposed new COVID-related lockdown in response to soaring infection rates.In …

Gold extended its decline on Tuesday as ceasefire talks between Russia and Ukraine slashed demand for safe-haven assets, while expectations that the US Federal Reserve would raise interest rates for the first time in three years increased pressure on the yellow metal. And the price of gold in spot transactions …

Oil prices extended losses on Tuesday to a two-week low after ceasefire talks between Russia and Ukraine eased fears of another oil supply disruption, while coronavirus infections in China raised concerns about slowing demand for crude. Brent crude futures were down $5.95, or 5.6 percent, at $100.95 a barrel by …

Gold prices fell below $1,980 an ounce on Monday, as traders braced for an upcoming Federal Reserve interest rate hike that pushed 10-year US Treasury yields above 2%. The US central bank is widely expected to raise interest rates by 25 basis points at the end of its two-day meeting …

A US Treasury official said on Monday that Russia’s default on its sovereign debt would put Russia’s economy and financial system in further trouble, making it difficult for Moscow to find new lending sources and raising future borrowing costs. The official told Reuters that the Treasury believes that there is …

Market players tried to remain optimistic about a potential diplomatic solution to the Russia-Ukraine conflict but peace talks yielded no results.The positive sentiment diluted as the day went by, with Wall Street ending the day in the red territory after a strong opening.Economic DataThe economic calendar on Monday witnessed no …