Gold Holds Below $1,300 as Dollar Strength Assessed With Ukraine

                   Gold held below $1,300 an ounce as U.S. data that beat estimates strengthened the dollar, curbing demand for an alternative investment and countering haven bids from worsening tension between Ukraine and Russia. Gold for immediate delivery traded at $1,290.22 an ounce at 11:05 a.m. in Singapore from $1,288.78 yesterday, when the metal rose and fell at least 0.4 percent...

Read More

Venezuela Says It Wants $10 Billion for Citgo Oil Assets

                   Petroleos de Venezuela SA, the Latin American nation’s state-owned crude producer, said the U.S. oil refining and marketing assets it’s seeking to sell are worth more than $10 billion. “Their value is much, much more,” Rafael Ramirez, president of the oil producer known as PDVSA, told reporters yesterday. The company is receiving offers for assets of Houston-based Citgo...

Read More

WTI Gains Second Time in Three Days on Stockpiles; Brent Rises

                 West Texas Intermediate rose for a second time in three days after an industry report showed crude stockpiles declined in the U.S., the world’s biggest oil user. Brent climbed in London. Futures advanced as much as 0.4 percent in New York. Crude supplies shrank by 5.5 million barrels last week, the American Petroleum Institute was said to report yesterday. Data from the Energy Information...

Read More

Dollar Approaches 9-Month High on Economy, Ukraine; Kiwi Slides

                    The dollar approached the strongest in almost nine months versus the euro as signs the U.S. economy is strengthening and tensions over Ukraine are increasing boosted the appeal of American assets. A gauge of the greenback climbed toward the highest since February after data yesterday showed factory orders and service activity increased and Federal Reserve...

Read More

WTI Trades Near 3-Day High Before U.S. Supply Data; Brent Steady

                      West Texas Intermediate crude traded near the highest price in three days before supply data that will signal the strength of fuel demand in the U.S., the world’s biggest oil consumer. Brent in London was steady. Futures were little changed in New York after snapping a five-day losing streak yesterday. Gasoline stockpiles probably fell...

Read More

Gold Holds Below $1,300 as Easing Debt, Gaza Concerns Cut Demand

                  Gold held below $1,300 an ounce as Portugal’s bailout of Banco Espirito Santo SA reduced concern the lender’s crisis may spread and tension in Gaza eased, damping demand for a haven. Silver rose from a six-week low. Gold for immediate delivery was at $1,288.99 an ounce at 12:16 p.m. in Singapore from $1,288.25 yesterday, according to Bloomberg generic pricing. The metal fell...

Read More

Gold Seen Reaching $1,400 by USAGOLD as U.S. Inflation Quickens

                   Gold will extend this year’s surprise rally and climb to the highest price since September on the outlook for accelerating inflation, USAGOLD Centennial Precious Metals Inc. said. The metal will reach $1,400 an ounce by the end of the year, also supported by higher demand from Asia, Peter Grant, chief market analyst at USAGOLD in Denver said in a telephone interview...

Read More

Zinc up 0.3% on overseas cues, spot demand

            Zinc futures edged higher by 0.28% to Rs 143.60 per kg today as speculators built-up positions amid positive cues from the global market and better domestic demand.At the Multi Commodity Exchange, zinc for delivery in August gained 40 paise, or 0.28%, to Rs 143.60 per kg, with a business turnover of 247 lots.The metal for delivery in September also rose 20 paise, or 0.14%, to Rs 143.85 per kg, with...

Read More

RPT-GLOBAL ECONOMY WEEKAHEAD-Central bank meetings to set stage for parting of ways

                             After the Federal Reserve maintained its path towards raising U.S. interest rates next year, other major central banks will jostle for space on a crowded stage this week. The European Central Bank, Bank of Japan, Bank of England and the central banks of India and Australia all hold meetings. While imminent action is unlikely, the time when...

Read More

Freeport Indonesian Unit May Start Exporting Copper Concentrate Wednesday -CEO

                 PT Freeport Indonesia may start exporting copper concentrate on Wednesday after it reached an agreement with the government late last month to resume the exports after a six-month stalemate. Freeport Indonesia's Chief Executive Rozik Soetjipto said that the local unit of U.S. copper and gold producer Freeport-McMoRan Inc. (FCX) may resume overseas shipments with 10,000 metric...

Read More