Net length in gold futures increased as a rise in speculative long positions was accompanied by a fall in speculative shorts. Traders also resumed accumulating gold on price correction. We expect net length in the yellow metal to rise further in the coming week as safe haven demand reemerged amidst the second wave of coronavirus
News
White House doctor seems carefully upbeat, from his statement: Trump not yet out of the weeds but the team remains cautiously optimistic Trump continues to do well, “having made substantial progress since diagnosis” Trump remains fever free and off supplemental oxygen Sean Conley, the White House physician, with the update. Let’s hope Trump stays on
New Delhi: Energy exchanges IEX and PXIL have expressed hope that renewable energy certificate (REC) trading will resume after three months on October 28 as electricity tribunal APTEL has concluded hearing on the REC pricing issue. Trading of RECs is done on the last Wednesday of every month on the Indian Energy Exchange (IEX) and
As suggested in the CFTC Commitments of Traders report in the week ended September 29, NET SHORT for USD Index futures fell -3 591 to 5 555 contracts. Speculative long positions increased +2 908 contracts and short positions slipped -683 contracts. The greenback’s outlook remains uncertain in the near term. The US presidential election is
The Japanese government is planning an unprecedentedly short screening period of three weeks once Fujifilm Toyama Chemical Co submits a new drug application. That submission is expected in mid-October Which would thus lead to approval of Avigan as a coronavirus treatment in November — There will, of course, be concerns about the scrutiny efficacy and
JAKARTA: Malaysian palm oil futures fell 2.7% on Friday, tracking a drop in crude and Chicago Board of Trade soyoil prices. The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange fell to 2,713 ringgit ($652.48) a tonne in early trade. “Palm oil prices fell in tandem with weak external markets
Investors could have been anticipating an October surprise. But none could have expected it to come that early, with US President Donald Trump’s coronavirus infections. The world has been in historically high level of uncertainty ever since the virus outbreak in Wuhan of China half a year ago. And the virus is still not leaving
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NEW YORK: Oil prices fell more than 4% on Friday, and posted a second weekly decline after U.S. President Donald Trump tested positive for COVID-19, roiling risky assets, and as rising global crude output threatened to overwhelm the market’s weak recovery. Benchmark Brent and U.S. crude each posted a second straight week of losses. The
RBA will likely use the opportunity of the upcoming meeting to prepare the market for more monetary easing in November. The stimulus measures due later this week should include reduction in the cash rate, yield curve control (YCC) target and Term Funding Facility (TFF) rate to 0.1%, from the current 0.25%. The central bank, also
That took a quick turn for the worse There is another report that he’s had a fever all day and he hasn’t tweeted so you know it’s bad. Reports now say he’s now leaving the White House for the military hospital. A White House official says he will be moving into a special suite at
Gold extended gains on Friday en route to its best week in nearly two months as investors sought safe-haven assets after U.S. President Donald Trump tested positive for COVID-19. Spot gold was up 0.5% at $1,915.34 per ounce by 0645 GMT, reversing losses from early Asian trade. U.S. gold futures rose 0.3% to $1,922.20. Bullion
Global markets are clearly staying in risk-off mode before weekly close. Mixed US job data was largely ignored. Eyes are staying on the development regarding US President Donald Trump’s coronavirus infections, and the impact on the Presidential election which is just around a month away. Yen is currently the strongest one for today, but hasn’t
According to his spokesperson Well, at least if a succession plan needs to be put in place we know that Pence should be fit to take up the role. That said, an early test here may not be too indicative of anything but Pence is said to be tested for the virus every day. In
TOKYO: Oil prices extended losses to about 3% on Friday after U.S. President Donald Trump said he has tested positive for COVID-19, while agrrement on a U.S. stimulus package eluded negotiators amid ongoing worries about demand. Brent crude slipped on the Trump news and was down $1.12, or 2.7%, at $39.81 a barrel by 0710
Markets suddenly turned into a risk-off mode on the first October surprise. US President Donald Trump and wife Melania had tested positive for coronavirus. Both were going to quarantine with Trump’s scheduled cleared of all travels. Yen surges broadly as reaction. While Dollar follows higher, it’s quickly losing momentum and was overwhelmed by Yen. Commodity
A bit of concern that Hope Hicks’ contracting COVID-19 raises questions about President Trump’s susceptibility to infection. Hicks travelled with Trump aboard Air Force One to and from the presidential debate on Tuesday, and to his Minnesota rally yesterday If you watched the debate preamble you may have seen from coverage that Trump’s entourage entered the
BENGALURU/MUMBAI: Customers began trickling into jewellery stores in India this week as domestic prices slipped, with dealers hoping for a further rebound in demand going into a busy festival season. Indians celebrate the festivals of Dussehra in late October and Diwali and Dhanteras in November, when buying gold is considered auspicious. “Slowly, demand has been