Day: November 21, 2022

Oil prices hit 10-month low on OPEC+ production boost report

Oil prices dropped to their lowest since early January on Monday after the Wall Street Journal reported that Saudi Arabia and other OPEC oil producers are discussing an output increase. Brent crude futures for January had slipped $4.07, or 4.7%, to $83.55 a barrel by 1518 GMT. U.S. West Texas Intermediate (WTI) crude futures for …

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Focus on job creation, capex boost, tax measures in Budget: Industry to FM

The upcoming Union Budget 2023 should prioritise job creation and taxation measures which will help in increasing broad-based consumption, representatives from various industry bodies recommended to Finance Minister Nirmala Sitharaman and her team during their pre-budget consultations on Monday. The industry bodies said that there should be more focus on financing of …

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Silver likely to turn bullish as market balance swings to deficit 

Silver prices have declined five per cent in the past week to $20.8 an ounce, heading south further from a five-month high of $21.7 witnessed on November 14. But prices of the metal, which have slipped 10.3 per cent year-to-date, will likely witness a bullish run as silver production has slipped into a deficit against …

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Goldman Sachs cuts 4Q oil forecast by $10/bbl on China ‘speed bump’

Goldman Sachs on Sunday cut its fourth-quarter Brent oil price forecasts by $10 to $100 a barrel, citing factors including a likely hit to consumption from China‘s COVID case spike. But the investment bank said that the China concerns were “another speed bump on the road higher,” since the major consumer has indicated that this …

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Oil prices sink as China’s tightening anti-Covid curbs hurt demand outlook

Oil sank again following the biggest weekly decline since August as China tightened anti-Covid curbs, hurting the outlook for demand. Global benchmark Brent fell toward $87 a barrel after retreating by almost 9% last week. The country saw its first Covid-related death in almost six months on Saturday and another two were …

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Gold rate today: Yellow metal edges lower; silver slips below Rs 61,000 on MCX

Gold prices ticked lower on Monday, after marking its worst week in five, pressured by a pop in the US dollar while traders awaited further cues on central banks’ interest rates strategy. The Fed at its December meeting is still expected to raise rates by half a percentage point, a view endorsed by other Fed …

Gold rate today: Yellow metal edges lower; silver slips below Rs 61,000 on MCX Read More »

Gold trading at Rs 53,020 per 10 grams, silver selling at Rs 60,600 per kg

Gold prices remained unchanged during Monday’s early trade with ten grams of 22 carat gold trading at Rs 48,600, according to GoodReturns website. Silver prices, however, dropped by Rs 400 from yesterday’s closing price with 1kg of silver selling at Rs 60,600. Ten grams of 24 carat gold was trading at Rs 53,020. …

Gold trading at Rs 53,020 per 10 grams, silver selling at Rs 60,600 per kg Read More »

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