Tag: commodities
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Gold prices break below $2,000 support as hot CPI brews rate fears
[ad_1] Investing.com– Gold prices fell below a key support level in Asian trade on Wednesday after a hotter-than-expected inflation reading for January spurred more fears that the Federal Reserve will keep rates higher for longer. The yellow metal saw extended losses after spot prices slid below the closely-watched $2,000 an ounce support on Tuesday, with…
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Gold prices trade sideways, CPI data awaited for more rate cues
[ad_1] Investing.com– Gold prices kept to a tight range on Tuesday, remaining under pressure from the dollar as investors hunkered down before inflation data that is widely expected to factor into the Federal Reserve’s plans for interest rates. The yellow metal had fallen back into a $2,000 to $2,050 an ounce trade range over the…
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Turmeric Prices Show Resilience Despite Recent Decline: Bullish Harmonic Pattern Signals Potential Upswing
[ad_1] Despite a recent notable decline in turmeric prices driven by profit booking, market sentiment remains positive in the near term. The decline was attributed to profit-taking following a period of gains supported by reduced supplies in the spot market. However, the anticipation of delayed harvesting for the new crop, tighter ending stocks, and the…
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Oil prices settle slightly higher as Middle East tensions simmer
[ad_1] Investing.com– Oil prices settled slightly Monday as a step-up in geopolitical tensions in Middle East supported bullish bets on energy. At 14:30 ET, settled $0.10 higher at $76.92 per barrel, while expiring in April fell 0.2% to $82.00 a barrel. Middle East Tensions ratchet up as Israel prepares ground offensive of Rafa Israel launched…
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India’s Palm Oil Imports Dip to Three-Month Low Amid Soyoil Surge
[ad_1] India witnesses a notable 12% drop in palm oil imports for January, reaching a three-month low, while soyoil imports surge by 23.7%, reflecting shifting trade patterns. Sunflower oil imports decline by 15.6%, impacting total vegetable oil imports, which fall by 8.4% to 1.20 million tons. These fluctuations, influenced by factors like refining margins, freight…
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Gold prices muted before inflation data, copper sinks on Zambia discovery
[ad_1] Investing.com– Gold prices moved little in holiday-thinned Asian trade on Monday, with the yellow metal keeping to a trading range established over the past week as traders sought more cues from upcoming U.S. inflation data. Among industrial metals, copper prices hit a near three-month low after KoBold Metals- a startup backed by Microsoft (NASDAQ:)…
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Turmeric Declined In Profit Booking After Prices Rose Due To Reduced Supplies.
[ad_1] prices saw a decline of -1.96%, settling at 15330, driven by profit booking after earlier gains supported by reduced supplies in the spot market. The delayed harvesting of the new crop and tighter ending stocks are expected to maintain positive market sentiments in the near term. While export demand is anticipated to increase with…
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Cotton Gains After USDA Weekly Sales Report Increase In Exports From Previous Week
[ad_1] Cotton candy demonstrated strength, settling up by 1.32% at 58320, driven by robust demand as indicated by the USDA’s weekly sales report. Net sales for 2023/2024 surged by 69% from the previous week, totalling 349,400 running bales and surpassing the four-week average by 37%. The strong demand, particularly from China and Vietnam, contributed to…
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Aluminium Settled Flat As Traders Gauged The Lack Of Fresh Market-Moving Catalysts
[ad_1] prices inched up by 0.1%, settling at 200.9, as traders navigated a market characterized by a lack of significant catalysts and subdued trading activity ahead of a prolonged public holiday in China, a major consumer of the metal. The cautious sentiment in the market was accentuated by the China Nonferrous Metals Industry Association’s report,…