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BEIJING: Oil prices soared nearly $2 per barrel in early trade on Friday as Russia’s invasion of Ukraine continued to inflame global supply concerns as markets brace for the impact of trade sanctions on major crude exporter Russia.
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Gold prices rallied on Thursday. MCX Gold April futures surged 2.40% to close at ₹51,590 per 10 grams after Russia President Vladimir Putin authorised military operation in Ukraine. The yellow metal rose on safe-haven buying along with the dollar on geopolitical risks fearing more sanctions on Russia and possible disruption of commodity supplies.
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U.S. West Texas Intermediate (WTI) crude futures jumped 85 cents, or 0.9%, to $92.95 a barrel, after rising to as much as $93.50.
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New Delhi: Gold prices fell by Rs 126 to Rs 49,960 per 10 grams here on Wednesday amid a decline in international prices along with gains in the rupee, according to HDFC Securities. The yellow metal had closed at Rs 50,086 per 10 grams in the previous trade.
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Russian President Vladimir Putin recognised two breakaway regions in eastern Ukraine as independent and ordered the Russian Army to launch what Moscow called a peacekeeping operation into the area, accelerating a crisis the West fears could unleash a major war. This boosted safe-haven demand.
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Russian President Vladimir Putin recognised two breakaway regions in eastern Ukraine as independent and ordered the Russian Army to launch what Moscow called a peacekeeping operation into the area, accelerating a crisis the West fears could unleash a major war. This boosted safe-haven demand.
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U.S. West Texas Intermediate (WTI) crude futures jumped $3.25, or 3.6%, to $94.32 a barrel versus Friday’s settlement. The U.S. market was closed on Monday for a public holiday.
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Spot gold fell 0.2% to $1,893.80 per ounce by 0139 GMT, retreating from $1,908.02 – its highest since June 3 hit earlier in the session. U.S. gold futures were steady at $1,898.60.
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