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☆ Gold near one-month high on hopes of Fed nearing end of rate hikes
▼ + stars: | 2023-07-13 | by ( Arundhati Sarkar | ) www.reuters.com time to read: +2 min

Spot gold was up 0.1% to $1,959.79 per ounce by 0241 GMT, hitting its highest since June 16. Therefore, a lot of focus remains on the central bank's next rate-setting meeting, which could dictate near-term gold prices, said Brian Lan of Singapore dealer GoldSilver Central. Recent hawkish comments from policymakers have weighed on gold, with bullion down more than $100 since its May highs. Among other precious metals, spot silver rose 0.3% to $24.2163 per ounce and palladium advanced 0.7% to $1,292.19. Reporting by Arundhati Sarkar in Bengaluru; Editing by Rashmi Aich and Sohini GoswamiOur Standards: The Thomson Reuters Trust Principles.

Persons: Silver, Brian Lan, Lan, Price, Arundhati Sarkar, Rashmi Aich, Sohini Organizations: Federal Reserve, GoldSilver, Thomson Locations: Brian Lan of Singapore, Bengaluru

☆ Gold prices steady on softer dollar, focus on economic cues
▼ + stars: | 2023-06-27 | by ( Arundhati Sarkar | ) www.reuters.com time to read: +2 min

Spot gold held its ground at $1,923.09 per ounce by 1200 GMT while U.S. gold futures edged down 0.1% to $1,932.90. The dollar index (.DXY) eased slightly, making dollar-priced bullion more attractive for overseas buyers. Meanwhile, Julius Baer analyst Carsten Menke said that high interest rates are offering other alternatives than gold to safe-haven seekers. Spot silver rose 0.5% to $22.88 an ounce and was on track for a third straight session of gains. Reporting by Arundhati Sarkar and Seher Dareen in Bengaluru Editing by Christina Fincher, David Goodman and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Han Tan, Jerome Powell's, Julius Baer, Carsten Menke, Arundhati Sarkar, Seher, Christina Fincher, David Goodman, Louise Heavens Organizations: Federal, Fed, European Central Bank, Thomson Locations: U.S, United States, Sintra, Bengaluru

SP Angel analyst John Meyer said that with global EV sales expected to reach around 15 million vehicles this year, sales of palladium, chiefly used to neutralise harmful car emissions, could be impaired by 1.5 million-2.25 million ounces. While there are still few battery-powered vehicles in the heavy-duty market, exhaust-free electric vehicles are eating into the palladium-focused light vehicle market, Johnson Matthey said. Palladium prices could fall to the $1,250 level, Edward Moya, senior market analyst at OANDA, said. "The reason why people are more pessimistic about palladium than platinum is due to adoption of EVs," he said. "There's a lack of interest in the palladium market.

Persons: John Meyer, Johnson, Wilma Swarts, PGMs, Johnson Matthey, Edward Moya, palladium's bearishness, Tai Wong, Bart Melek, Ashitha, Seher Dareen, Arundhati Sarkar, Brijesh Patel, Arpan Varghese, Jan Harvey Organizations: Palladium, SP, Metals, TD Securities, Thomson Locations: Ukraine, New York, China, Bengaluru

☆ Gold set for monthly drop as US debt agreement saps appeal
▼ + stars: | 2023-05-31 | by ( Arundhati Sarkar | ) www.reuters.com time to read: +2 min

SummarySummary Companies Gold set for first monthly fall in threeSilver, platinum, palladium face monthly lossGold defended support confluence zone at $1,940 level - analystMay 31 (Reuters) - Gold prices eased on Wednesday, set for a monthly drop, as progress in the U.S. debt ceiling deal and expectations that the Federal Reserve will likely raise interest rates further eroded bullion's safe-haven status. Spot gold fell 0.2% to $1,955.28 per ounce by 0243 GMT, and lost 1.7% so far this month. Gold prices have come off their recent near-record highs reached early in May. Higher interest rates dull the appeal for zero-yield bullion. A hawkish build in rate expectations has translated to some resilience in place, and until that reverses, upside for gold prices may continue to remain capped, Jun Rong added.

Persons: Gold, Joe Biden, Kevin McCarthy, Yeap Jun Rong, Jun Rong, Arundhati Sarkar, Shailesh Kuber, Sherry Jacob, Phillips Organizations: Federal Reserve, U.S, IG, Thomson Locations: U.S, Bengaluru

SummarySummary Companies Silver, platinum, palladium set for monthly gainDollar eyes monthly fallApril 28 (Reuters) - Gold prices eased on Friday as the dollar firmed in the run up to U.S. inflation data, but economic jitters kept safe-haven bullion on course for a second consecutive monthly rise. Spot gold edged 0.2% lower to $1,983.01 per ounce by 0915 GMT, but was up 0.8% for the month. But "a sudden deterioration in the bank sector crisis could trigger a rush to safe-havens likely to see gold prices soar above previous records," Evangelista added. A weaker dollar makes bullion more affordable for overseas buyers. Silver fell 0.5% to $24.82, platinum shed 1% to $1,066.57, while palladium was flat at $1,495.13 -- all headed for monthly gain.

☆ Gold rises on subdued dollar, US data in spotlight
▼ + stars: | 2023-04-27 | by ( Arundhati Sarkar | ) www.reuters.com time to read: +2 min

Spot gold rose 0.4% to $1,996.50 per ounce by 0230 GMT, while U.S. gold futures climbed 0.5% to $2,005.20. Making bullion less expensive for other currencies holders, the dollar index eased 0.1% on the day. The U.S. House of Representatives on Wednesday narrowly passed a bill to raise the government's $31.4 trillion debt ceiling. Therefore, given the "uneasy tone with the banking situation" and the "debt ceiling uncertainties, gold will probably be more sensitive to the upside than to the downside," Meir said. Elsewhere, spot silver rose 0.5% to $25.02 per ounce, platinum added 0.3% to $1,092.68, and palladium ticked 0.1% up to $1,513.81.

☆ Gold holds tight range as traders seek direction from US data
▼ + stars: | 2023-04-26 | by ( Arundhati Sarkar | ) www.reuters.com time to read: +2 min

Spot gold held its ground at $1,997.40 per ounce by 0307 GMT. Investors seemed reluctant to offload their gold holdings amid weak U.S. economic data, and "trading conditions will remain choppy, and any dips towards $1,950 could be snapped up," said Matt Simpson, a senior market analyst at City Index. Recessionary fears already seem to be providing a floor for gold prices, and "Friday's personal consumption expenditures report will likely pack the biggest punch for gold," Simpson added. Although gold is considered a hedge against inflation and economic uncertainty, higher interest rates dim the non-yielding asset's appeal. Palladium gained 1.1% to $1,499.47, on track to snap two session of losses, if gains hold.

☆ Pemex hit by fires at three facilities in one day
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +1 min

[1/5] Emergency services work as smoke rises following a pipeline explosion at the facilities of state-owned oil company Pemex, according to local authorities, in Ixhuatlan del Sureste, Veracruz state, Mexico, February 23, 2023 in this still image taken from video obtained from social media. Samy Rodriguez/Perfil Regional/via REUTERSCompanies Petroleos Mexicanos FollowMEXICO CITY, Feb 23 (Reuters) - Three fires broke out on Thursday at different facilities in Mexico and the United States operated by state-owned Mexican oil company Pemex, leaving five missing and eight others injured as of Thursday evening. Pemex confirmed in a later statement on Thursday evening that a separate fire at its Minatitlan refinery, also in Veracruz, was under control after injuring five people. A third fire was also reported Thursday by a community alert at a unit at Pemex's Deer Park, Texas, oil refinery. Earlier this week, at least two people died after a vehicle collision inside a Pemex refinery in the Mexican state of Hidalgo, according to local media reports.

☆ Analysis: India's EV dawn fans expectations fuel demand may peak early
▼ + stars: | 2023-01-27 | by ( Mohi Narayan | ) www.reuters.com time to read: +5 min

Currently, around 90% of Indian petrochemical demand is met by China, he said, so a shift by Indian refiners towards domestic chemical needs could dramatically change supply dynamics. Indian refiners are investing billions of dollars to raise petrochemical capacity. Indian Oil Corp (IOC.NS), the country's top refiner, is raising petrochemical capacity at its Panipat refinery by 13% and building new plants linked to its Paradip and Gujarat refineries. India's state refiners, which dominate fuel retailers, plan to set up EV charging facilities at more than 22,000 fuel stations and highways by 2024. About 40% of India's fuel demand is for diesel, which is mostly used by trucks.

☆ Gold gains on dollar weakness as China relaxes COVID curbs
▼ + stars: | 2022-12-27 | by ( Arundhati Sarkar | ) www.reuters.com time to read: +2 min

Spot gold rose 0.6% to $1,809.20 per ounce by 1136 GMT. A weaker dollar also makes the greenback-denominated bullion less expensive for other currency holders. "Gold was weaker for most of 2022 amid aggressive tightening of monetary policies, rising real yields and dollar strength. "Sustained recovery in gold prices is possible if Fed pivots." In other metals, spot silver rose 1.6% to $24.09 per ounce, platinum gained 0.4% to $1,025.32, while palladium jumped 1.9% to $1,797.00.

☆ Eastward gas flows rise on Yamal pipeline, flows via Ukraine steady
▼ + stars: | 2022-11-23 | by ( ) www.reuters.com time to read: +1 min

Nov 23 (Reuters) - Eastbound gas flows rose on Wednesday morning on the Yamal-Europe pipeline to Poland from Germany, data from pipeline operator Gascade showed while flows of Russian gas to Europe via Ukraine remained steady. Nominations for Russian gas into Slovakia from Ukraine via the Velke Kapusany border point stood at 41.7 million cubic metres (mcm), up slightly from 40.5 mcm the previous day, Ukrainian transmission system data showed. Russia's Gazprom (GAZP.MM) said it will ship 42.1 million cubic metres (mcm) of gas to Europe via Ukraine on Wednesday, a similar level to recent days. Gazprom has warned it could reduce gas flows via Ukraine, saying it believes some gas destined for Moldova are being kept by Ukraine. Gas flows via the Nord Stream 1 pipeline, which crosses the Baltic Sea to Germany from Russia, remained at zero.

☆ Saudi Arabia's July crude oil exports rise to over 2-year peak
▼ + stars: | 2022-09-19 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterGeneral view of Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. REUTERS/Ahmed JadallahSept 19 (Reuters) - Top oil exporter Saudi Arabia's July crude oil exports gained for a second-straight month to their highest in more than two years, data from the Joint Organisation Data Initiative (JODI) showed on Monday. Saudi Arabia's exports rose 2.5% to 7.38 million barrels per day (bpd) in July - highest since April 2020 - from 7.20 million bpd in June. read moreSaudi production also climbed to its highest in more than two years to 10.815 million bpd from 10.646 million bpd in the previous month. Saudi's domestic crude refinery throughput fell about 3% to 2.763 mln bpd in July, while oil products exports stood at 1.429 mln bpd.

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