Page 10 - Ommodities News Today

USDAs March Prospective Plantings report has corn numbers higher than expected.

Gold price is holding near a new record high of $2,288 reached in the early Asian session on Wednesday, as softer US Dollar (USD) and the US Treasury bond yields lend support to the bright metal along with escalating Middle East geopolitical tensions.

According to Geojit, Malaysia has decided to maintain the export tax rate for crude palm oil at 8% for April, while raising its reference price, according to a notification by the Malaysian Royal Customs Department displayed on the Malaysian Palm Oil Board website.

Analysts say the tone remains positive, supported by ongoing geopolitical tensions in the Middle East and expectations of interest rate cuts

Gold price is in the red zone near $2,250 early Tuesday, consolidating the corrective move lower from the record high of $2,266 set on Monday.

But growing rate cut expectations, safe-haven demand and central bank purchases have boosted gold by more than 8% this year

Here is what you need to know on Tuesday, April 2: Trading conditions are starting to normalizing on Tuesday with investors returning from the long Easter holiday.

West Texas Intermediate (WTI) oil price remains on the defensive at around $83.50 per barrel during the Asian trading hours on Tuesday.

Silver (XAG/USD) gains positive traction for the fourth straight day on Tuesday and climbs further beyond mid-$25.00s during the first half of the European session, back closer to the YTD peak touched last week.

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