After having spent most of the day in the red, gold prices rebounded due to renewed expectations of a December interest rate cut by the Federal Reserve. On the other hand, silver prices dipped nearly 2%, but hopes for a rate cut limited losses. Oil prices fell, and were set for a weekly decline as
Global sugar prices are expected to remain soft in the coming months due to rising production and rebuilding stocks, said Edward Nikulin, a commodities and weather-model analyst at Mind Money. “Key upside risks stem from weather shocks (El Niño/La Niña transitions) and energy-price volatility affecting Brazil’s ethanol mix,” he said in an analysis. India’s export
Gold prices were largely unchanged on Thursday, even as the dollar strengthened against a basket of major currencies. Prices had fallen 1% earlier on Thursday, but the yellow metal recovered somewhat as the day progressed. Meanwhile, silver prices were largely unchanged from the previous close after falling sharply earlier in the day. On the other
Finnish petrol station operator Teboil, a subsidiary of Russian oil major Lukoil, announced on Wednesday that it is preparing to close all its petrol stations in Finland. This action is due to fuel shortages resulting from US sanctions imposed on its parent company, according to a Reuters report. Teboil, a significant player in Finland’s fuel
Oil prices fell sharply on Wednesday due to oversupply concerns and rising inventories in the US. Meanwhile, gold and silver were higher ahead of the release of key US economic data. Base metal prices were also higher ahead of key economic indicators from the US, which is likely to pave the way for the Federal
Russia’s central bank announced Wednesday that its engagement with the domestic gold market—both buying and selling for the National Wealth Fund (NWF)—has been on the rise, citing the yellow metal’s growing liquidity. The central bank of Russia has seen a substantial portion of its foreign exchange reserves, held in key Western currencies such as the
Gold prices slipped to a one-week low on Tuesday as traders scaled back on their expectations of interest rate cuts by the US Federal Reserve. Silver prices were also lower, tracking losses in the yellow metal. The metal also fell below $50 per ounce on COMEX to a one-week low. Meanwhile, oil prices, after having
Exxon Mobil announced Tuesday that its Fife ethylene plant (FEP) in Scotland will shut down in February 2026, citing a combination of high supply costs, weak market conditions, and the challenging UK economic and policy environment as reasons for the closure. European chemicals producers, which constitute the European Union’s fourth-largest exporting sector, trailing only machinery,
Gold and silver prices fell on Monday as traders assessed expectations of rate cuts by the US Federal Reserve. Meanwhile, oil prices were steady as loadings have restarted at the Russian export hub of Novorossiysk, a Black Sea port, following a two-day pause caused by a Ukrainian attack. Prices of base metals were also in
Expectations are rising for a significant increase in US natural gas demand over the next few years. This anticipated surge is primarily fueled by two factors: expanding LNG export capacity and greater consumption from the power sector, driven by continued investment in data centers, according to an ING Group report. The US stands as the