Page 32 - Ommodities News Today

It’s been a weak start to the month for European markets as investors weigh the messaging from both the Federal Reserve and the Bank of England, which appears to be that rate cuts are coming, just not as soon as markets were hoping 24 hours ago, prompting some modest weakness across the board.

In Thursday's session, the XAU/USD was spotted rallying to $2,055, depicting a bullish outlook on the daily chart with buyers gaining ground.

According to Geojit, The government of Gujarat released final data of rabi acreage for 2023-24 season Monday. According to the data, the area under rabi crops in the state stands at 4.60 mln ha in the current season, up 2.9% from 4.47 mln ha last year.

Gold price is extending its pullback from a ten-day high of $2,049 reached in the early American trading on Tuesday, as the US Dollar (USD) is attracting fresh demand amid broad risk-aversion on the all-important US Federal Reserve (Fed) interest rate decision day.

West Texas Intermediate (WTI) oil price retraces its recent gains despite an escalated situation in the Middle East.

Gold price (XAU/USD) ticks lower during the Asian session on Wednesday and retreats further from a two-week high, around the $2,048-2,049 region touched the previous day.

Gold prices rose in India on Wednesday, according to data from India's Multi Commodity Exchange (MCX).

Oil prices are seeing a pickup in volatility on Wednesday, jumping towards the $80 psychological level, as the US said it stands ready to issue new sanctions against the Venezuelan Oil industry. With this move, The US appears to be leveraging

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