In an attempt to stem the damage of low oil prices, Saudi Arabia plans to reduce Riyals to 120 billion ($32 billion) from its cash reserves. Mohammed Al-Jadaan, the minister of finance of SA, said that the Coronavirus pandemic is destroying the economy. Despite the measures the country has taken to combat deficits in the …
Gold regained its luster on Wednesday after a bad day on Tuesday and is currently recovering the 1,700 level against the dollar. The reason is the approval of the expansion of the PPP in the Senate. The speculation that a new wave of dollars will flood the market means more money that investors will use …
Gold Retrieves $1,700 for Optimism; New Avalanche of Dollar Read More »
Investors have gathered around traditional safe-haven assets after U.S. oil prices fell below zero for the first time in history, as the COVID-19 pandemic spreads. U.S. Treasury yields were higher Wednesday as stocks rose on a rush of more grounded income reports and another financial boost bundle passed by the U.S. Senate. A recent rebound …
Treasury yields rebound as crude markets attempt to stabilize Read More »
In comparison to February, five out of eight critical farming commodities resumed impressive exports with a two-digit increase in March. These five farm commodities include cashew, vegetables, rice, pepper, and cassava. The coronavirus pandemic hasn’t affected the shipping of products, stated the General Department of Customs. Cashew nuts had the most significant export growth rate. …
Which five essential farm commodities saw growth in March? Read More »
On Tuesday, gold operated at highs since November 2012 at $1,730. Investors are concerned about the impact of Coronavirus on the world economy and metal production at individual mines worldwide. It drove gold prices higher. Besides, measures launched by central banks are flooding the money market to fight the liquidity crisis. They are causing the …
Concerns of gold production drove it to a high since 2012 Read More »
Oil imports in China have dropped in March, according to a Reuters poll on Monday. Analysts expect China’s economic contraction in the first quarter of 2020 due to the Coronavirus outbreak. China is the world’s top oil importer and a critical driver of oil demand growth. The country went into lockdown at the end of …
China’s oil imports suffer from the steep decline Read More »
Gold counts fourth consecutive meeting gain as dollar droops, and corporate income gets going. Gold futures counted a fourth consecutive session climb Tuesday, picking up support from concerns on worldwide economy shortcomings, just as in corporate quarterly outcomes, due to the cessation of business activity planned to stem the spread of COVID-19. Also, some shortcomings …
Gold shines bright on Tuesday, while platinum climbs 9% Read More »
Gold and silver just achieved its highest ratio as the yellow metal slid more than 1% to its lowest price in a week. Recent price rallies motivated investors to take profits, but the metal is still on track to trade higher for the third consecutive month amid coronavirus worries. Spot gold went down 1% to …
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