Commodity markets
From gold and silver, to oil and aluminum: Where analysts see prices now the Fed has cut rates
The U.S. Federal Reserve cut its benchmark interest rate on Wednesday and more reductions are expected in the coming months. Analysts at both Citi and HSBC have taken the opportunity to do deep dives into how commodities are likely to perform looking ahead. Citi said in a fourth-quarter outlook report that the U.S. and global […]
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Oil stares at a bleak future as China’s economy sputters. The good news: A market ‘bust’ is unlikely
The RN-Tuapsinsky refinery operated by Rosneft Oil Co. in Tuapse, Russia. Andrey Rudakov | Bloomberg | Getty Images SINGAPORE — As the world’s oil traders and analysts gathered at the annual Asia Pacific Petroleum Conference in Singapore last week, the slump in oil and where it was headed was foremost in everybody’s mind. China, the […]
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Investors are ‘dramatically overestimating’ an oil glut, Carlyle’s Jeff Currie says
An oil pump jack is shown in a field on June 27, 2024 in Stanton, Texas. Brandon Bell | Getty Images News | Getty Images SINGAPORE — Global markets are severely overplaying an oil supply glut, said Jeff Currie, chief strategy officer of energy pathways at private equity giant Carlyle. Concerns about a supply glut […]
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China hits Canada with anti-dumping probe on canola imports, Ottawa deeply concerned
Cooking oils made from canola from Canada are offered for sale at a grocery store on April 26, 2022 in Chicago, Illinois. Scott Olson | Getty Images China said on Tuesday it planned to start an anti-dumping investigation into canola imports from Canada, after Ottawa moved to impose tariffs on Chinese electric vehicles, lifting prices of domestic rapeseed oil futures to a one-month peak. Canadian Farm Minister Lawrence […]
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Gold miners ‘ripe’ for a break out: Analysts name stocks to buy into the gold rush
Gold continues to be red hot, with prices repeatedly hitting record highs. Prices of the precious metal hit a new all-time high of $2,531.60 per ounce on Tuesday, after reaching a previous record last week. Spot gold prices were last around $2,490 on Friday. Gold mining stocks have, unsurprisingly, ridden the wave, with the VanEck […]
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The world’s largest steel industry is going through a ‘winter’ amid a supply glut and weak demand
Workers process seamless steel pipes at a production line in Huai ‘an, Jiangsu province, China, Oct 20, 2022. CFOTO | Future Publishing | Getty Images China’s steel industry has been struggling as the country’s property sector remains in the doldrums and is unable to absorb excess capacity, industry watchers told CNBC. “Chinese demand has been […]
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Global commodities’ biggest winners and losers this year — and where they’re headed
A farmer collecting grain from a combine harvester during the wheat harvest on a farm near Benfleet, UK, on Monday, Aug. 12, 2024. Bloomberg | Bloomberg | Getty Images The global commodities market has been volatile this year, with prices remaining largely elevated. Orange juice and cocoa futures surged to record highs in the first […]
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Gold set for fresh highs ahead of Fed rate decision — analysts see prices at $3,000 by next year
An employee handles one kilogram of gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Chalinee Thirasupa | Bloomberg | Getty Images Gold prices have been hitting new highs and analysts expect more records, with some forecasting the metal to hit $3,000 per ounce next year, as […]
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Gold prices notches fresh record on Fed rate cut optimism
One kilogram gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Bloomberg | Bloomberg | Getty Images Gold prices continued to notch new records Wednesday, lifted by increasing conviction that the Federal Reserve will cut interest rates in September following comments from Fed Chair Jerome Powell. Spot […]
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Singapore is established to lead the gold marketplace as ‘center of gravity’ shifts east, Globe Gold Council claims
Gold bars Ktsdesign | Science Picture Library SINGAPORE — Singapore is established to turn into a main gold hub as buying and selling shifts east, according to the Environment Gold Council. 1 critical cause is that gold usage in significant emerging economies is climbing, and a majority of these markets are concentrated in Asia, reported […]
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