Oil prices tumbled by more than two per cent on Monday after United States (US) President Donald Trump on Sunday said he would sharply hike tariffs on Chinese goods this week, risking derailing months of trade talks between the world's two biggest economies.
Gold prices on Friday hovered near a four-month low hit in the previous session, after the U.S. Federal Reserve dampened expectations of a rate cut in the near term, boosting the dollar and setting the bullion on course for a weekly drop.
Oil prices slipped on Friday, extending a steep fall from the previous session on surging US output and an expected supply increase from producer club OPEC and putting crude on track for a second week of declines.
Sugar prices at the Vashi wholesale market increased by ₹10-20 a quintal and ruled steady at the mill level. Volume at the mill level also improved as producers continued to sell the sweetener at prevailing rates.
Gold traders can be forgiven for feeling a bit queasy as efforts to parse economic signals from the U.S. Federal Reserve put them on a roller-coaster ride.
Gold prices eased on Wednesday on overnight gains in US equities, while a May Day lull gripped most of the Asian markets ahead of a closely monitored Federal Reserve decision on the future trajectory of interest rates.
Oil prices dipped on Wednesday after a report showed a rise in available US crude inventories, but the market remained tense amid an intensifying political crisis in Venezuela, tightening US sanctions on Iran and continuing OPEC supply cuts.
Oil prices dipped on Tuesday on expectations rising output from the United States and producer club OPEC would offset most of the shortfall expected from US sanctions on Iran, but analysts said markets remained tight.
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