Gold prices were steady on Friday supported by the uncertainty around the Federal Reserve’s policy outlook for next year but the metal was on track to mark its biggest weekly decline in five weeks, as a firmer dollar weighed on the sentiment.
Oil prices fell on Friday as investors cashed in gains of more than 2 per cent made during the previous session on concerns demand may slump amid slowing economic growth, though there are still expectations for producer supply cuts to support prices.
Oil prices rose on Thursday, buoyed by a drawdown in US crude stockpiles and indications that China is taking concrete steps to put a trade war truce with Washington into action.
Oil prices rose on Thursday, buoyed by a drawdown in U.S. crude inventories and signs that China is taking more concrete steps to put a trade war truce with Washington into action.
Sugar market ruled flat with arrival pressure and limited need-based demand. On Tuesday 23-24 mills sold 44,000-45,000 bags with S-grade at Rs. 2,900-2,950 a quintal and M-grade at Rs. 2,950-3,010.
Oil prices climbed by around 1 per cent on Wednesday amid a stock market rebound and on expectations that an OPEC-led output cut for 2019 would stabilise the supply-demand balance.
Gold prices edged higher on Tuesday, supported by hopes that the U.S. Federal Reserve could pause its rate hike cycle sooner than expected and as the dollar slipped after the previous session’s rally.
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