Commodities

Chanel to keep investing despite choppy luxury market

PARIS -French luxury group Chanel will continue to invest heavily this year, drawing on its deep pockets as other sector players pull back, with plans for new stores in China and the United States,...

Price pullback spurs gold demand in top Asian hubs

Physical gold demand improved across most key Asian hubs this week as a pullback in global prices sparked buying interest among consumers. This week, Indian dealers were offering a...

Guinea revokes 46 mining licences, signalling stricter oversight of major operators

DAKAR -Guinea has revoked the licences of 46 mining companies operating in the country, a government source told Reuters on Thursday, while another said it could be up to 53 permits, in what some...

Commodities: Boosted by easing trade tensions

Every week, our commodity market overview gives you a review of the latest news from the commodity markets in order to better understand fluctuations in the prices of energy, metals, and agricultural...

Cattle futures surge over US halt to Mexican cattle imports

MEXICO CITY/CHICAGO -U.S. cattle futures soared to record highs on Monday after Washington suspended cattle imports from Mexico over a flesh-eating parasite, which Mexican President Claudia Sheinbaum...

Venezuelan oil disguised as Brazilian crude to circumvent US sanctions

Traders have quietly re-designated over $1bn worth of Venezuelan oil shipments bound for China as Brazilian over the past year, according to two maritime tracking companies, internal documents, and...

Congo gold miner halts operations in tax dispute with M23 rebel administration

Twangiza Mining, a gold miner operating in the rebel-controlled South Kivu Province in the eastern Democratic Republic of Congo, said it has been ordered to suspend operations by the rebel...

China-led funds spur largest monthly inflow into gold ETFs in three years

The inflow into physically backed gold exchange-traded funds in April was the largest since March, 2022, with China-listed funds leading the move due to the country's trade war with the U.S., data...

South Africa's Gold Fields to buy Australia's Gold Road for $2.4 billion

MELBOURNE -South Africa's Gold Fields will acquire Gold Road Resources in a sweetened deal valuing the Australian miner's equity at A$3.7 billion , as sky-high bullion prices drive a wave of...

Russia hikes 2025 deficit forecast threefold due to low oil price risks

MOSCOW -Russia's finance ministry raised the 2025 budget deficit estimate to 1.7% of gross domestic product on Wednesday from 0.5% after reducing the energy revenues forecast by 24% due to...

Record gold prices help keep China's copper smelters going despite losses

SHANGHAI -Surging prices for gold and other byproducts are keeping China's copper smelters afloat and could fend off significant production cuts this year despite a key gauge of industry...

Gold pares losses on rate cut hopes after weaker US economic data

Gold prices pared some losses on Wednesday as bets that the U.S. Federal Reserve will cut rates rose after weaker-than-expected first quarter U.S. growth. Spot gold was down 0.2% at...

Algeria's Sonatrach, Occidental Petroleum sign MOUs on hydrocarbon cooperation

Algerian energy firm Sonatrach signed two memorandums of understanding with U.S. shale company Occidental Petroleum to expand cooperation in hydrocarbon exploration and production in Algeria,...

Chinese gold ETFs April inflows surpass first quarter total, WGC says

Investment flows into Chinese physically backed gold exchange-traded funds so far this month have exceeded those for the whole of the first quarter and overtaken inflows registered by U.S.-listed...

Goldman Sachs sees ounce of gold at $3700 by the end of 2025 (+15%)

Goldman Sachs has raised its forecast for the year-end gold price from $3,300 to $3,700 per ounce. The US bank cites stronger-than-expected demand from central banks and recessionary risks as driving...

India inflation in March likely steady after four months of decline

BENGALURU -India consumer prices likely rose around the same rate in March as they did in February following four months of declining inflation, as a sharp rise in gold prices offset flat food...

Goldman Sachs raises year-end gold forecast to $3,700/oz

Goldman Sachs has increased its year-end gold forecast to $3,700 per troy ounce , citing stronger-than-expected central bank demand and heightened recession risks impacting ETF inflows. The...

US bond yields rise, dollar down as turbulent week comes to an end

NEW YORK -Benchmark 10-year U.S. Treasury yields registered their biggest weekly rise in more than two decades on Friday, while the dollar fell, in a turbulent week marked by the trade war and a loss...

US-China tariff war steers gold through $3,200 per ounce

Gold prices vaulted over the $3,200-per-ounce mark for the first time on Friday, as intensifying U.S.-China trade tensions rattled global markets and drove investors into the metal seen as a refuge...