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Gold Set for First Weekly Loss After Continuous Rise Since August
SadaNews Economy - Gold is on track to end a nine-week streak of gains, following a significant price correction in the market after reassessing the upward wave that drove the metal to a state of overbought conditions.
The price of gold reduced its losses today after the release of the inflation re...
Gold Wavers Ahead of U.S. Inflation Test
SadaNews Economy - Gold prices fell on Friday, heading towards its first weekly loss in ten weeks, as the dollar strengthened and investors prepared for the release of the key U.S. inflation report later today.
Spot gold declined by 0.9 percent to $4,086.46 an ounce at 06:33 GMT, with prices down b...
Oil Heads for Biggest Weekly Gains Since June After US Sanctions on Russia
SadaNews Economy - Oil is heading towards achieving its biggest weekly gains since June after US sanctions on major Russian companies shifted market balances, raising fears of supply disruptions and increasing demand for alternative crude supplies.
Brent crude fell on Friday to nearly $65 a barrel,...
U.S. Government Shutdown Enters Its 23rd Day and Approaches Historic Record
SadaNews Economy - October 23. The U.S. government shutdown has entered its twenty-third day, making it the second longest shutdown in the history of the United States, amid ongoing political deadlock between the White House and Congress.
If the shutdown continues until November 4, it will match th...
Oil Jumps 2.5% After U.S. Sanctions on Russian Companies
SadaNews Economy - Oil prices surged about 2.5% this Thursday, continuing the gains initiated in the previous session, amid renewed concerns about supplies after the United States imposed sanctions on two major Russian oil companies, "Rosneft" and "Lukoil," in the context of the conflict in Ukraine....
Gold Contracts Rise Amid Anticipation of U.S. Inflation Data
SadaNews Economy - Gold prices shifted towards an increase during today’s session on Thursday, following sharp losses on Wednesday, and amidst anticipation of the upcoming U.S. inflation data, with the price today reaching $4,114.37 per ounce.
The U.S. Consumer Price Index report, scheduled to be r...
China Injects Billions to Counter the Trade War Waged by Trump
SadaNews - After six months since U.S. President Donald Trump's launch of the trade war, the robustness of China’s exports confirms the vital importance of many of its products, despite U.S. tariffs that have reached 55%.
Daily, Chinese goods worth nearly one billion dollars are shipped to the Unit...
India and the U.S. Move Closer to a Trade Deal that Could Reduce Tariffs to 15%
SadaNews - India and the United States are nearing a trade agreement that could reduce the tariffs imposed on Indian exports to between 15% and 16% compared to about 50% currently, according to the "Mint" newspaper, citing three individuals familiar with the matter who were not named.
The newspaper...
Israel Reduces Gas Exports to Egypt Due to Maintenance Work in the Tamar Field
SadaNews - Israeli gas imports to Egypt have dropped to about a third starting today, Wednesday, and for a period of 12 days, due to maintenance work in the "Tamar" field in the deep waters of the Mediterranean, according to a government official.
Egypt began importing gas from Israel in 2020 with...
Saudi Arabia and Australia Prepare to Expand Cooperation Bridges in Mining and Investment
SadaNews - Saudi Arabia is intensifying its efforts to strengthen relations with Australia, a country that has not had significant trade dealings with the Kingdom, at a time when Riyadh seeks to capitalize on the new momentum resulting from deals in minerals, mining, and financing.
Officials from b...
Slight Increase in Oil Prices Amid Expectations of U.S. Inventory Decline
SadaNews - Oil prices rose slightly after an industry report showed a decline in crude inventories in the United States for the first time in four weeks, while U.S. President Donald Trump reiterated that India will reduce its purchases of Russian energy.
Brent crude traded above $61 a barrel, up 0....
Gold Prices Experience Volatility After Largest Sell-off
SadaNews - Gold and silver prices fluctuated on Wednesday after experiencing the largest sell-off in years on Tuesday, amid fears that the recent significant rally has made prices overvalued.
Spot gold traded near $4,140 an ounce after a drop of 6.3% in the previous session, marking its largest dai...