Gold poised for best quarter in four years as virus fears persist
By Administrator_India Capital Sands Gold held close to a near eight-year peak on Tuesday, en route to its best quarter in more than four years, as worries over rising cases of the novel coronavirus and its economic fallout boosted safe-haven demand. Spot gold was steady at $1,771.30 per ounce, just $7.76 shy of a […]
Oil falls as U.S.-China tensions take toll
By Administrator_India Capital Sands Oil prices eased on Monday on concerns over rising tensions between the United States and China over Beijing’s plans to impose security laws on Hong Kong and the possibility of sanctions from Washington. Oil prices have risen sharply in recent weeks as an easing of coronavirus restrictions has led to […]
Dollar Down After Investors Welcome Loosened Lockdown Plans
By Administrator_India Capital Sands The dollar was down on Monday morning in Asia, giving up some of its gains from earlier in the session. The gains came after some countries’ plans to lift lockdowns curbing the spread of the COVID-19 pandemic boosted investor sentiment. California, Michigan, and Ohio, three of the important states for U.S. manufacturing, took steps to […]
Oil Down As Producers Continue to Grapple With Oversupply
By Administrator_India Capital Sands Oil was down on Monday morning in Asia, unable to hold onto its gains from the previous session. Brent oil futures lost 3.57% to $25.66 and WTI futures slid 8.04% to $18.19, even as a 10-million-barrel daily cut in production agreed to by OPEC+ in early April coming into effect on Friday. Brent futures have fallen almost 60% this year, hitting […]
Oil market falls too big to offset with output cuts, IEA warns
By Administrator_India Capital Sands The International Energy Agency (IEA) on Wednesday forecast a 29 million barrel per day dive in April oil demand to levels not seen in 25 years and warned no output cut by producers could fully offset the near-term falls facing the market. Benchmark Brent crude futures fell following the IEA’s monthly […]
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PM Johnson says medics saved his life as UK deaths pass 10,000 mark
By Administrator_India Capital Sands British Prime Minister Boris Johnson left the hospital on Sunday and thanked the staff for saving his life from COVID-19, but his government was forced to defend its response to the coronavirus outbreak as the national death toll passed 10,000. The somber milestone came after Britain reported two days in a […]
Global oil output cuts held hostage to Mexican standoff
By Ritu, Capital Sands Oil producers in the OPEC+ group, led by Saudi Arabia and Russia, were expected to pressure Mexico on Friday to seal an accord for a collective cut in output of 10 million barrels per day, before asking other nations for a further 5 million bpd of cuts. The United States has […]
RBI says coronavirus has ‘drastically altered’ India’s growth outlook
By Ritu, Capital Sands The outlook for India’s economic recovery has been sharply altered by the coronavirus outbreak, the central bank said in its Monetary Policy Report, underlining the pandemic’s deepening impact on South Asia’s engine of growth. “Prior to the outbreak of COVID-19, the outlook for growth for 2020-21 was looking up,” the Reserve […]
Asian stocks gain on hopes pandemic is approaching peak
By Administrator_India Capital Sands Asian shares rose on Thursday on hopes the COVID-19 pandemic is nearing a peak and that governments would roll out more stimulus measures, while expectations of an oil production cut agreement bolstered crude prices. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.6%, following a strong Wall Street close. […]