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Daniel Hynes, Senior Commodity Strategist at Australia and New Zealand Banking Group, discusses his outlook for the oil and energy markets, between monetary tightening and the lack of a Chinese...
A lift in the official cash rate is still expected, despite inflation showing signs of slowing. With the Reserve Bank of Australia (RBA) due to have its July monetary policy meeting today (4 July),
(Bloomberg) -- Gold edged higher as geopolitical uncertainty increased following an attempted mutiny by Russian mercenary group Wagner, while investors weighed recessionary signals.Most Read from BloombergSilence Cloaks Kremlin After Russian Mutiny Against PutinPrigozhin Turns Forces Back in Deal With Kremlin to Drop ChargesRussia Latest: Zelenskiy Adviser Says Wagner Remains in UkraineThe Wagner Mutiny Foreshadows a Russian DefeatRussia Latest: Kremlin Says It Gave Prigozhin Deal to End MutinyB
Spot gold rose 0.2% to $1 924.57 an ounce as of 1:28 p.m. in Singapore.
Despite OPEC+'s decision to extend current cuts through 2024 and Saudi Arabia's voluntary production cut, oil prices remain uncertain as the market focuses more on demand concerns and slower economic recovery than on supply deficits.