India's October crude oil imports posted their steepest fall since July and seventh consecutive monthly year-on-year decline as rising COVID-19 cases limited mobility and curbed consumption, government data showed on Monday.
BENGALURU/MUMBAI A festival-led buying spree continued in India's retail gold market this week, though premiums eased slightly from a week ago and sales volumes were seen as lower year-on-year.
Oct 1 Rice export prices eased this week in most hubs on lackluster demand with fresh supplies expected to be a further drag, but Vietnamese traders were concerned about low water levels in the Mekong.
Oct 1 Rice export prices eased this week in most hubs on lackluster demand with fresh supplies expected to be a further drag, but Vietnamese traders were concerned about low water levels in the Mekong.
* U.S. Aug unadjusted CPI index comes above expectation * Gold up 0.6% this week * Platinum on track for best week since early Aug * Interactive graphic tracking global spread of coronavirus: open https://tmsnrt.rs/3aIRuz7 in an external browser (Updates prices) By Diptendu Lahiri Sept 11 Gold prices dipped on Friday after the European Central Bank stopped short of offering any concrete signals on further stimulus, but lingering economic uncertainties kept the metal on track for a weekly rise. Spot gold was down 0.4% at $1,945.79 per ounce by 1243 GMT, after hitting its highest level since Sept. 2 at $1,965.94 on Thursday. Gold has gained 0.6% this week. U.S. gold futures fell 0.7% to $1,950.20. "The ECB did not address the stronger euro, neither did it come up with any stimulus plans, which will keep inflation in check in the euro zone. That's negative for gold," said Quantitative Commodity Research analyst Peter Fertig. ECB President Christine Lagarde played down concerns about the euro's strength and disappointed hopes for more stimulus. The U.S. Senate blocked a Republican bill that would have provided around $300 billion in new coronavirus aid. Gold is perceived as a hedge against inflation and currency debasement. Economic indicators suggest a long and difficult recovery from the pandemic, especially in the labour market. Latest data showed U.S. consumer prices increased more than expected in August. "While COVID-19 vaccine developments and improving economic data present near-term headwinds to gold, low and negative interest rates, a weaker USD, and expectations for further stimulus keep the balance of risks to the upside," Standard Chartered said in a note. Recent data showed Britain's economy grew for a third month in a row in July as some sectors reopened after the coronavirus lockdown, but it remained around 12% smaller than its pre-pandemic level. Elsewhere, silver dropped 0.4% to $26.81 per ounce, while palladium rose 0.3% to $2,299.95. Platinum was up 0.5% to $931.15 and was heading for its best week since the week ending Aug. 7, up 4%. (Reporting by Diptendu Lahiri in Bengaluru; editing by David Evans and Emelia Sithole-Matarise)
* Interactive graphic tracking global spread of coronavirus: open https://tmsnrt.rs/3aIRuz7 in an external browser (Adds comments, updates prices)
Gold firmed on Wednesday on lingering uncertainties stemming from the coronavirus pandemic, but gains were limited as the dollar too gained from safe-haven inflows driven by worries about a delay in the development of a vaccine.
* Interactive graphic tracking global spread of coronavirus: open https://tmsnrt.rs/3aIRuz7 in an external browser (Recasts, adds comments; updates prices)
* Interactive graphic tracking global spread of coronavirus: open https://tmsnrt.rs/3aIRuz7 in an external browser (Updates prices)
* Interactive graphic tracking global spread of coronavirus: open https://tmsnrt.rs/3aIRuz7 in an external browser (New throughout, updates prices, market activity and comments)
AstraZeneca said on Monday its COVID-19 vaccine could be as much as 90% effective, giving the world's fight against the global pandemic a new weapon, cheaper to make, easier to distribute and faster to scale-up than rivals.