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Oil dips as US inventory build stokes supply fears

TOKYO: Oil prices eased in early trade on Wednesday as industry data showing a build in U.S. crude stockpiles and a forecast for U.S. crude output to fall less than anticipated in 2020 added to worries about oversupply. Brent crude futures fell 13 cents, or 0.3%, to $ 42.95 a barrel by 0019 GMT. U.S. […]

Gold prices today slip as investors' risk appetite rises

NEW DELHI: Gold and silver saw profit booking in early trade on Wednesday as risk appetite among investors grew on hopes of a swift recovery in economic conditions. However, a sharp rise in Covid-19 cases checked the losses. India has reported a total of 7.4 lakh cases of coronavirus, the third highest in the world. […]

Sebi looking at allowing futures trade in petrol, diesel: Official

New Delhi: Markets regulator Sebi is looking at permitting futures trading in petrol and diesel, an official said emphasising that there has been no disruption in commodities derivatives trading during the COVID-19 crisis. The Securities and Exchange Board of India (Sebi) is also looking at re-allowing futures trade in tur and urad, which were banned […]

Gold prices retreat from multi-year peak as dollar rebounds

Gold fell on Tuesday in the face of competition from safe haven inflows into the dollar as COVID-19 cases increased globally and investors booked profits following bullion’s rally to a near eight-year peak. Spot gold fell 0.4 per cent to $ 1,776.43 per ounce by 959 GMT. It earlier touched a high of $ 1,786.91, […]

Cooking oil imports rise to 8-month high in June

New Delhi: India’s imports of edible oil rose 8% to an eight-month high of 1.12 million tonnes in June compared to an year ago, as importers partly made up for the low stock in the previous two months, trade boy Solvent Extractors’ Association (SEA) said. However, demand is still lower than the pre-Covid level and […]

Gold firms to near 8-year peak as virus concerns boost demand

Gold prices edged higher on Tuesday, hovering near an eight-year high, as concerns over surging coronavirus cases around the world kept bullion’s safety demand elevated. FUNDAMENTALSSpot gold was 0.1% higher at $ 1,784.99 per ounce by 0037 GMT, just $ 3.97 shy of a near eight-year high of $ 1,788.96, which was hit last week. […]