Bharat Petroleum and IOC launch LNG buy tenders - trade sources
MILAN India's Bharat Petroleum has launched a tender seeking three liquefied natural gas (LNG) cargoes in total for delivery in October, November and December, trade sources said.
MUMBAI Gold traders in India, the world's biggest consumer of the metal, remained on the sidelines after a weak rupee limited the downside in prices.
After a 50 percent import duty hike to 6 percent on January 21, the Reserve Bank of India last week recommended putting curbs on imports, along with launching gold-linked products to limit shipments. Wedding and festival season are currently underway in India.
The actively traded contract gold for April delivery on the Multi Commodity Exchange (MCX) was 0.07 percent lower at 30,793 rupees per 10 grams.
"Not many deals are happening as the rupee depreciated on opening and gold is holding steady... People are still bearish on prices of gold," said a dealer with a state-run bullion dealing bank in Mumbai, adding "the situation might last for this week if prices don't correct."
The rupee, which traded weaker, plays an important role in determining the landed cost of the dollar-quoted yellow metal.
In the overseas market, gold edged up despite a volatile euro on Monday, with thin trade due to the Lunar New Year break exaggerating movements.
The most-traded silver contract for March on the MCX was 0.02 percent lower at 58,234 rupees per kg.
(Reporting by Siddesh Mayenkar; Editing by Anand Basu)
Wall Street rallied on Friday as a bounce in Deutsche Bank shares powered financial stocks.
DUBLIN The limits of central bank largesse are set to be a hot topic in the coming week as global policymakers head to Washington for the annual International Monetary Find meetings and key data may harden the case for a tightening of U.S. monetary policy.