Oil prices hold ground ahead of OPEC+ meeting on extended output cuts
By Administrator_India Capital Sands Oil prices rose in early trade on Tuesday, with traders waiting to see whether major crude producers agreed to extend their huge output cuts to shore up prices at a meeting expected later this week. Brent crude futures rose 0.3%, or 12 cents, to $38.44 a barrel. U.S. West Texas […]
India’s scrap gold supplies seen at record high on price rally, coronavirus
By Ritu, Capital Sands Scrap gold supplies in India are likely to hit an all-time high in 2020 as consumers sell jewellery to reap record high prices and cope with the financial crunch from the coronavirus lockdown, the World Gold Council said on Thursday. Rising scrap supplies amid a fall in demand could dent the […]
Gold Continues Retreat Despite Decreased Risk Sentiment
By Administrator_India Capital Sands Gold was down on Monday in Asia despite the souring of the increased risk sentiment from Friday’s slew of good news over the weekend. Gold retreated almost 2% in the previous session as U.S. President Donald Trump announced guidelines to re-open his country’s economy on Thursday and Gilead Sciences’ report on the same day of the efficacy of its experimental […]
Indian gold demand could hit three-decade low as lockdown hits festivals, weddings
By Administrator_India Capital Sands India’s gold consumption in 2020 could fall as much as 50% from a year ago to the lowest level in nearly three decades as a nationwide lockdown has closed jewelry stores during key festivals and the wedding season. The drop in consumption by the world’s second-biggest gold buyer could limit a […]
Gold Prices Up as COVID-19 Economic Costs Rise
By Administrator_India Capital Sands Gold prices were up in Asia on Thursday as investors continue to calculate the economic damage from the COVID-19 pandemic. Gold futures were up by 0.33% at $1,745.70 as the yellow metal attempted to claw back its losses from the previous session. Companies reported dismal numbers during what is turning out to be a difficult earnings season, and the U.S. Commerce Department said retail sales in […]