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Oil prices inched lower on Tuesday as Hungary resisted a European Union push for a ban on Russian oil imports, a move that would tighten global supply, with investors taking profits on a recent rally.
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TUESDAY LIVE GOLD NEWS UPDATED BY WWW.WINCOMMODITY.COM
Gold was up on Tuesday morning in Asia, even as the dollar slowly resumed an upward trend and U.S. Treasury yields resumed their climb. Gold futures gained 0.48% to $1,882.65 by 12:36 AM ET (4:36 AM GMT). The dollar, which normally moves inversely to gold, inched up on Tuesday after falling from near 20-year highs on Monday.
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LATEST LIVE CRUDE OIL NEWS UPDATED BY WWW.WINCOMMODITY.COM
Oil prices fell on Monday, paring early gains as investors took profit from a surge in the previous session, albeit in the shadow of supply fear as the European Union prepares an import ban on Russian crude and with limited increase in OPEC output.
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MONDAY LIVE GOLD NEWS UPDATED BY WWW.WINCOMMODITY.COM
Gold may witness some more correction to trade near the levels of Rs 49500 in coming weeks. Higher inflation and geopolitical volatility are supporting gold prices, but various physical tightening measures by central banks to curb inflation and stronger dollar are pushing gold to lower levels, said Ravi Singh – Vice President and Head of Research at ShareIndia.
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