Gold and Oil gain value as US-China end trade hostilities for 90 days

By MG News | December 03, 2018 at 11:40 AM GMT+05:00

0:00

December 03, 2018 (MLN): Gold prices gained value during initial hours on Monday on a weaker dollar, following restoration of investor’s demand for riskier assets after United States and China decided to terminate their trade hostilities for at least 90 days during a weekend meeting in Argentina of the Group of 20 (G-20) leading economies.

Spot gold was up 0.3 percent at $1,225.67 per ounce at 0407 GMT, while U.S. gold futures were up 0.4 percent at $1,230.4 per ounce.

Likewise, the Oil prices increased on Monday after the United States and China agreed to a 90-day break in their trade war, and ahead of a meeting this week by producer club OPEC that is expected to result in a supply cut.

U.S. West Texas Intermediate (WTI) crude futures were at $53.63 per barrel at 0358 GMT, up $2.73 per barrel, or 5.4 percent from their last close.

International Brent crude oil futures were up $2.8 per barrel, or 4.8 percent, at $62.30 a barrel.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	133,082.39 118.38M	-0.22% -287.76
ALLSHR	82,948.61 440.36M	-0.16% -132.54
KSE30	40,576.53 38.07M	-0.32% -128.77
KMI30	191,659.11 47.62M	-0.48% -921.57
KMIALLSHR	55,723.23 251.52M	-0.20% -112.48
BKTi	36,300.66 6.36M	-0.05% -16.51
OGTi	28,390.87 3.57M	-0.53% -152.08

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	108,630.00	108,880.00 107,680.00	175.00 0.16%
BRENT CRUDE	69.38	69.50 69.03	-0.20 -0.29%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	2.90 3.07%
ROTTERDAM COAL MONTHLY	106.00	106.75 106.00	0.25 0.24%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	67.69	67.97 67.40	-0.24 -0.35%
SUGAR #11 WORLD	16.25	16.46 16.07	-0.13 -0.79%