Gold keeps diving on Turkey economic downtime
On Monday, gold headed south because Turkey’s economic turmoil left financial markets puzzled…
Crude stands still as leaping American output undermines OPEC cuts
On Tuesday, crude was nearly intact because the impact from hopes for an extended OPEC-led output cut was neutralized by ascending oil output in America.
Brent crude futures demonstrated $62.20 a barrel, adding 8 since their previous close.
Meanwhile, US West Texas Intermediate crude futures hit $56.50 a barrel, also rising 8 cent from their previous settlement.
Market participants told they stood away from taking on large new positions because of uncertainty in financial markets.
The Organization of the Petroleum Exporting Countries along with a group of non-OPEC producers headed by Russia, has been gradually reducing output since the beginning of 2017 in an attempt to end a global supply overhang and underpin prices.
The deal to tame output will expire in March 2018, although OPEC will have a meeting on November 30 in order to discuss the outlook for the policy.
OPEC is believed to extend output cuts due to the fact storage levels are still high notwithstanding recent drawdowns.
Similar
Gold jumps on safe-haven demand
On Friday, gold leapt because market participants rushed to safe-have assets…
Gold sinks on soaring greenback
On Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…
Popular
Japan February exports are seen surging at fastest pace since 2015
In February, Japan's exports probably ascended at the fastest pace for two years due to a softer yen as well as improving global demand, as a Reuters survey showed on Friday…
Asian shares tumble with Japan markets shut
On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…
Greenback surges as yields soar
On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…
Deposit with your local payment systems
