somrat4030
Well-known member
Forex Forum is a good place for learn more about commodity updates.
Oil prices were mixed on Friday, but headed for their first weekly losses in at least eight weeks after U.S. oil stocks rose more than expected, and Iran flagged it was resuming talks with Western powers which could lead to an end to sanctions.
Benchmark U.S. crude oil for December delivery rose 15 cents to $82.81 a barrel Thursday. Brent crude oil for December delivery fell 26 cents to $84.32 a barrel.
Wholesale gasoline for November delivery fell 1 cent to $2.44 a gallon. November heating oil rose 1 cent to $2.52 a gallon. December natural gas fell 42 cents to $5.78 per 1,000 cubic feet.
Gold for December delivery rose $4.80 to $1,802.60 an ounce. Silver for December delivery fell 7 cents to $24.12 an ounce and December copper rose 5 cents to $4.44 a pound.
Both benchmarks were on track to fall about 1% for the week — the first weekly drop in 10 weeks for WTI and the first in eight weeks for Brent.
The heat has come out of a two-month rally stoked by tight gas and coal prices in Europe and China which had spurred fuel-switching in power generation to fuel oil and diesel while oil supplies were tight.
On the other hand, Gold shoppers in the UAE are looking at a second straight year of spending around Dh205 a gram on 22K gold for their ‘Diwali’ shopping next week, as bullion prices continue to hover around $1,800 an ounce. In recent weeks, there were hopes among shoppers and retailers that gold prices will lose some of that fizz to drop to around Dh190/Dh191 a gram, which would have been more helpful for shoppers cautious about their every dirham.
Moreover, Eldorado Gold (TSX:ELD) said today that gold production totaled 125,459 ounces in Q3 2021, a decrease of 8% from Q3 2020 production of 136,922 ounces driven by a planned shift to lower-grade ore at Kisladag.
Overall, production was better than expected.
"Gold production in the quarter increased 8% over Q2 2021. As a result of strong production in the first nine months of 2021, primarily due to operational improvements at Kisladag," said the company. "Eldorado will increase its 2021 annual production guidance by approximately 6% to 460,000-480,000 ounces of gold."
The average realized price of gold was down from a year ago, $1,769 oz compared to $1,919 oz.
#forexforum #forextraders #currencytraders #forumforex #forextrading
Oil prices were mixed on Friday, but headed for their first weekly losses in at least eight weeks after U.S. oil stocks rose more than expected, and Iran flagged it was resuming talks with Western powers which could lead to an end to sanctions.
Benchmark U.S. crude oil for December delivery rose 15 cents to $82.81 a barrel Thursday. Brent crude oil for December delivery fell 26 cents to $84.32 a barrel.
Wholesale gasoline for November delivery fell 1 cent to $2.44 a gallon. November heating oil rose 1 cent to $2.52 a gallon. December natural gas fell 42 cents to $5.78 per 1,000 cubic feet.
Gold for December delivery rose $4.80 to $1,802.60 an ounce. Silver for December delivery fell 7 cents to $24.12 an ounce and December copper rose 5 cents to $4.44 a pound.
Both benchmarks were on track to fall about 1% for the week — the first weekly drop in 10 weeks for WTI and the first in eight weeks for Brent.
The heat has come out of a two-month rally stoked by tight gas and coal prices in Europe and China which had spurred fuel-switching in power generation to fuel oil and diesel while oil supplies were tight.
On the other hand, Gold shoppers in the UAE are looking at a second straight year of spending around Dh205 a gram on 22K gold for their ‘Diwali’ shopping next week, as bullion prices continue to hover around $1,800 an ounce. In recent weeks, there were hopes among shoppers and retailers that gold prices will lose some of that fizz to drop to around Dh190/Dh191 a gram, which would have been more helpful for shoppers cautious about their every dirham.
Moreover, Eldorado Gold (TSX:ELD) said today that gold production totaled 125,459 ounces in Q3 2021, a decrease of 8% from Q3 2020 production of 136,922 ounces driven by a planned shift to lower-grade ore at Kisladag.
Overall, production was better than expected.
"Gold production in the quarter increased 8% over Q2 2021. As a result of strong production in the first nine months of 2021, primarily due to operational improvements at Kisladag," said the company. "Eldorado will increase its 2021 annual production guidance by approximately 6% to 460,000-480,000 ounces of gold."
The average realized price of gold was down from a year ago, $1,769 oz compared to $1,919 oz.
#forexforum #forextraders #currencytraders #forumforex #forextrading
