The Hungarian Foreign Minister said Friday that he met his Russian counterpart Sergei Lavrov in New York, where they discussed gas supplies and the construction of the Pax nuclear reactor being built by Russia’s Rosatom. Foreign Minister Peter Szijjarto said in a Facebook video after the meeting, which took place …
Read More »Gold trims its losses as dollar declines
Gold prices pared losses on Thursday as the dollar retreated from a two-decade high, although pressure continued on the precious metal amid rising US bond yields and hawkish comments on interest rate hikes from the Federal Reserve. And gold fell in spot transactions 0.2 percent, recording 1670.40 dollars an ounce …
Read More »Market Drivers – US Session 21/09/2022
The dollar solidified its gains after the Fed triggered volatility and sour market sentiment across the board. As anticipated, the US central bank hiked the benchmark rate by 75 bps to 3.25%, while policymakers maintained their determination to bring inflation down to the 2% target. US Treasury yields soared. The …
Read More »Gold hovers around $1667 ahead of FOMC decision
Gold has benefited from increasing tensions in East Europe. So, gold price snaps two days of consecutive losses and climbs, despite broad US dollar strength, courtesy of increasing tensions between Ukraine and Russia. Investors’ pursuit of safety bolstered the precious metal. At the time of writing, XAU/USD is trading at …
Read More »Stable flow of Russian gas to Europe via Ukraine as Nord Stream 1 continues to shut down
Operational data showed Russian gas supplies to Europe through Ukraine were stable on Tuesday morning, while gas flow through the Nord Stream 1 pipeline remained at zero. Ukraine’s transport system data showed that Russian gas flows to Slovakia from Ukraine through the Veleke Kapusani border point amounted to 36.9 million …
Read More »Gazprom to Europe: There is no alternative to Russian gas
There is no alternative to Russian gas for Europe, said Oleg Aksyutin, executive vice president of the Russian energy giant Gazprom on Thursday. He added in a press conference that no significant additional supplies of liquefied natural gas can be expected in the foreseeable future. These comments don’t seem to …
Read More »Market Drivers – US Session – September, 7
The US dollar was able to maintain its strong stance throughout the first half of the day, but later, the dollar had to retreat along with the sliding T-yields during the US trading session.Gold fell to touch intraday low of $1,691.32 per troy ounce but managed to recover towards the …
Read More »Putin Defies ‘Stupid’ Sanctions, Slams EU Gas Price Cap Plan
On Wednesday, Russia’s Vladimir Putin described Western sanctions “stupid” and threatened to halt all energy sales to Russia’s critics if they move forward with a cap on oil prices proposed by the G7 industrialized economic powers.“We will not supply gas, oil, coal, heating oil, we will not supply anything,” Putin …
Read More »Putin says he wants to limit Ukraine’s grain export destinations
Russian President Vladimir Putin warned on Wednesday of a looming global food crisis. He said he would discuss amending a grain export deal with Ukraine to limit countries receiving shipments. Speaking at an economic forum in the eastern city of Vladivostok, Putin said that Moscow had done everything in its …
Read More »Gazprom: Signing an agreement with China to pay for Russian gas in national currencies
Russia’s Gazprom said on Tuesday it had signed an agreement to transfer payments for Russian gas supplies to China into yuan and rubles instead of dollars. Gazprom CEO Alexey Miller said allowing payments in Russian rubles and Chinese yuan would mutually benefit Gazprom and CNPC and set an example for …
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