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Gold futures on the MCX have gained 6% on a year-to-date basis, while silver futures prices have increased by nearly 0.36% in value terms. The August gold futures were trading at Rs 58,275 per 10 grams, while September silver futures were at Rs 70,320 per kg. The upcoming US nonfarm payroll report and the FOMC minutes of the June meeting are expected to impact gold prices. Experts recommend buying gold futures at Rs 58,000 with a stop loss of Rs 57,700 and a target price of Rs 58,500.

Gold prices decreased on Monday as the dollar strengthened, increasing the likelihood of a US Federal Reserve interest rate hike. The Federal Open Market Committee (FOMC) is scheduled to meet later this month, and the dollar index (DXY) reached close to 103 against major currencies. Gold futures on the MCX were trading at Rs 58,092 per 10 grams, down 0.20%, while silver futures were down 0.06% at Rs 69,986 per kg. The decline in gold prices is attributed to expectations of rising interest rates and a lack of safe-haven demand.

Iraq is the second-biggest gas flarer in the world, but this resource can be harnessed to bolster the country’s energy security. [Gas in Transition, Volume 3, Issue 4]

The report released by Fitch Solutions forecasts the global shortfall at 8.7 million tonnes in 2022-23, which is the highest since the deficit of 18.6 million recorded in 2003-04.

(Updates prices, adds analyst quote) Aug 22 (Reuters) – British and Dutch wholesale gas prices rose sharply on Monday as…