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| 01 December, 2020, 01:29 AM IST | E-Paper
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    Gold spirals lower on vaccine-led economic recovery bets

    Spot gold dipped 1% to $1,770.56 per ounce by 1337 GMT, and was down 5.7% so far this month. The metal also hit its lowest level since July 2 at $1,764.29 earlier in the session.

    Oil prices fall as OPEC+ members debate 2021 output policy

    Brent crude for January delivery, a contract that expires on Monday, dropped 90 cents, or 1.9%, to $47.28 a barrel by 0944 GMT. The more actively traded February Brent contract was down 89 cents at $47.36.

    OPEC+ opens talks on whether to extend oil cuts or gradually hike output

    OPEC+ had been due to ease existing production cuts by 2 million barrels per day (bpd) from January 2021, but a second coronavirus wave has reduced demand for fuel around the world, prompting a rethink among members of the group.

    Gold down Rs 142, silver declines by Rs 701

    Silver prices also declined Rs 701 to Rs 57,808 per kilogram from Rs 58,509 per kilogram in the previous trade.

    Virus-stricken winter unlikely to derail oil market rebalancing: Goldman

    It expects the winter wave to hit global oil demand by at least 3 million barrels per day, partially offset by heating, restocking and demand in emerging markets.

    Members of oil cartel to meet as coronavirus rattles demand

    The group has to reach agreement among its member countries and the additional members in the group known as OPEC Plus, which is led by Russia. Members of the OPEC Plus group will meet Tuesday.

    BULL'S EYE

    Gold set for worst month in 4 years on vaccine-led stocks rally

    Gold is down 5.9% so far this month, its biggest monthly decline since November 2016.

    Crude oil prices slip in cautious trading ahead of OPEC+ meeting

    U.S. West Texas Intermediate crude futures for January fell 40 cents, or 0.9%, to $45.13 a barrel.

    Money invested in gold is money hoarded: Here's why

    Gold prices still respond to desolation and crisis in world markets. Any uncertainty in asset prices and the future, gold prices move up. However, beyond being the asset for distress, gold has nothing to claim for itself.

    OPEC, allies mull extending output cuts

    Member states want to avoid a repeat of the collapse in prices seen in April.

    Gold dives below $1,800 on optimism for economic recovery

    Gold dives below $1,800 on optimism for economic recovery

    Spot gold slid 1.4% to $1,785.11 per ounce by 11:43 a.m EDT (1643 GMT), earlier falling to its lowest since July 6 at $1,773.10 an ounce.

    OPEC+ panel's informal online talks postponed to Sunday: Source

    OPEC+ panel's informal online talks postponed to Sunday: Source

    OPEC+ is debating whether to ease oil output cuts from Jan. 1, as it previously agreed, or to continue producing at the same rate amid sluggish oil demand and the fallout from the coronavirus pandemic.

    Oil prices set for weekly gain ahead of OPEC+ meeting

    Oil prices set for weekly gain ahead of OPEC+ meeting

    Brent crude for January rose 19 cents, or 0.4%, to $47.99 a barrel by 1443 GMT and the more active February contract gained 25 cents to $48.04.

    Gold faces worst week in two months as vaccine optimism weighs

    Gold faces worst week in two months as vaccine optimism weighs

    "A break below $1,800 an ounce could well see further losses towards $1,760 as positive sentiment around a possible vaccine continues to weigh on demand for the traditional safe haven asset," said Michael Hewson, chief market analyst at CMC Markets UK.

    Gold jewellery demand to decline 35% in FY21: Icra

    Gold jewellery demand to decline 35% in FY21: Icra

    The demand is likely to see a rebound in the second half of this financial year after a poor performance in the first two quarters, ratings agency Icra said.

    Spices get cheaper on weak export demand and bigger harvest

    Spices get cheaper on weak export demand and bigger harvest

    Paras Budhiraja, MD, Paras Spices said that currently buyers were making limited purchases, unlike previous years when they bought inventories for six to eight months or for the entire year.

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