Iraq’s oil minister said, Tuesday, that his country policy in OPEC is based on reservations about the unjustified increase in production.Minister Ihsan Abdul-Jabbar added that the contract signed with France’s Total would generate more than USD 85 billion in profits for Baghdad over 20 years. Total will build four giant …
Read More »Gold Strives To Hold Consolidation
Although gold markets firstly fell during trading on Tuesday, the precious metal found enough buyers underneath to push it up. Spot gold was up 0.2% to $1,782.39 per ounce by 01:40 p.m. ET (1840 GMT). U.S. gold futures settled up 0.3% at 1,784.70. Gold is trying to stay in the …
Read More »USD Benefits From Markets’ Optimism
Markets were more active on Tuesday, with optimism leading the way. Hopes that the Omicron coronavirus variant is milder and will not interrupt the economic comeback sent global shares well into the green territory.It is still too early to say how things will turn out with the new COVID-19 strain. …
Read More »Gold Market’s Surplus Continues In 2022
Strong economic recovery, rising nominal yields and potential rate hikes are factors that together hurt investors’ appetite for gold, which has affected other precious metals as well, according to the latest report by London-based Metals Focus Consultancy.Metals Focus said that the threat of new virus variants, concerns of stagflation and …
Read More »Oil Surges, EIA Raises 2022 World Oil Demand Growth Forecast
In its monthly Short Term Energy Outlook (STEO) report, the US Energy Information Administration has raised its forecast for 2022 world oil demand growth by 200000 barrels per day (BPD).This data was released on Tuesday, and now demand growing 3.55M BPD YoY next year. The EIA STEO cut its forecast …
Read More »Gold Rises With The Decline of The Dollar
Gold futures traded modestly lower on Monday, as a pickup in Treasury yields and the US dollar helped to dull appetite Gold prices rose Tuesday, December 7th, supported by the dollar’s decline, but rising US Treasury yields and fears that the US Federal Reserve would tighten monetary policy more than …
Read More »Oil Rises as Concerns Over Omicron Ease
Oil prices rose on Tuesday after rising 5 percent in the previous session as concerns eased about the impact of the mutated Omicron strain of the Coronavirus on global fuel demand, while nuclear talks with Iran faltered, delaying the return of Iranian crude supplies to the market. Brent crude futures …
Read More »Dubai TV Interview, Dec 6, 2021
Speaking on Dubai TV, Monday, Mohamed Hashad, Director of Research and Development at Noor Capital and member of the American Association of Professional Technical Analysts shed light on a number of developments in the markets this week Firstly, on the relationship between the Federal Reserve’s decision and Omicron strain, and …
Read More »Gold declines as tapering remains in focus
Gold futures traded modestly lower on Monday, as a pickup in Treasury yields and the US dollar helped to dull appetite for the precious metal, which has been held in check by uncertainties about the spread of omicron and Federal Reserve policies.The most active February delivery gold contract GCG22, -0.16% …
Read More »WTI surges as KSA increases oil prices
WTI has recovered some of last week’s losses and reclaimed $67.50 amid a positive market mood. Saudi Arabia increased the crude-oil barrel to a median of $0.50 to different customers, and oil rose on the news.As the New York session begins, the US crude oil benchmark, Western Texas Intermediate, also …
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