During the coronavirus pandemic, the gold industry is producing huge gains. It is affecting many other industries around the globe. The precious metal prices have been on the rise for the past eighteen months, resuming to increase. Resources Monitor, an Australian mining expert, states that Australia will overtake China as the leading producer of the …
Australia will overhaul China as the world’s first gold producer Read More »
The precious metals has been seeing gains along with the US stock market. A weaker US dollar index has also supported precious metals market bulls. June gold futures increased by $34.10 an ounce at $1,722.60. July Comex silver prices gained $0.555 trading at $15.57 an ounce. Earlier this morning, the US Labor Department reported new …
Gold and silver surge while US stock market rally Read More »
A couple of prominent shale producers said that oil at around $30 might be enough to revive shale activity. Diamondback Energy Inc is going to curtail production by 10% to 15% this month. Parsley Energy Inc. has curbed a quarter of its output. As the world runs out of places to store additional oil supply, …
Oil up nearly $25, and it is for the first time middle of April Read More »
Copper giant, Peru Copper Inc. will slowly ease restrictions on key industries including mining and construction in May, according to the decree of the Government of Peru on Sunday. Production activity had been practically paralyzed since mid-march amid the nationwide lockdown to curb the spread of the coronavirus outbreak. El Peruano, the official daily newspaper …
Copper Peru to gradually lift restrictions on mining sector month Read More »
According to Richard Hayes, the CEO of Perth Mint, the gold outlook is upside since the world is facing a possible second wave of the Coronavirus outbreak. The gradual easing of all the restrictions and reopening the businesses will undoubtedly have an impact on precious metals prices. According to The CDS and the WHO, there …
danger of second wave could push gold prices to new record Read More »
The negative price of crude oil in Cushing, Oklahoma, was caused by an apparent widespread forecasting error. Financial investors in crude oil futures did not predict the quarantine nor its consequence. They had no idea that the global demand for crude would decrease close to 30%. By the end of April, this would take over …
Disruption in the oil and milk sector paved a way to charity Read More »
Weaker dollar overshadowed optimism, and gold prices climbed higher on Wednesday. Meanwhile, investors awaited the Federal Reserve’s decision later in the day. Spot gold climbed 0.1 % to $1,709.83 per ounce. US gold futures gained 0.2 % to $1,725.20 per ounce. Kyle Rodda, IG Markets analyst, said that there is a lot of uncertainty around …
Dmitry Peskov, a spokesman for the President of Russia’s office, said that Russia could tolerate meager oil prices. The country has an excellent ability to maintain itself for a period of declining oil prices. However, the country was cautious in using oil reserves. The Kremlin official said it was difficult for President Putin to postpone …
Russia is ready to go through a period of declining oil prices Read More »
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