Oil prices climbed to a six-week high on Monday as fresh US-Iran strikes heightened tensions across the Middle East and raised concerns about disruptions to global crude supplies. Brent crude futures, the international benchmark, rose 1.5% to $97.73 a barrel, reaching $97.93 earlier in the session, its highest level since July 23. West Texas Intermediate
Flowra Ltd., a blockchain infrastructure company focused on validator and order flow solutions for Solana, has signed a Memorandum of Understanding (MOU) with Korea Gold Exchange Digital Asset Co. Ltd. (KorDA) to explore the use of gold-backed digital assets in supporting Solana validator infrastructure. Under the proposed model, KGLD, a gold-backed digital asset held or
Copper price remains volatile in the new week after recording its first weekly loss in five weeks. A surge in US imports, and the eased bets on a September interest rate hike are offering support to the red metal. However, a rise in inventories and the persistent economic uncertainties have curbed its gains. In the
Gold slipped on Friday, retreating further from this week’s three-month high as investors reduced risk before Federal Reserve Chair Kevin Warsh’s first Jackson Hole keynote. Spot gold traded around $4,588 an ounce in later Asian dealings after falling to about $4,576 earlier, while US futures were near $4,629. Bullion is set for a small weekly
The Trump administration is exploring a potentially sweeping expansion of US control over Venezuela’s oil industry, with reports suggesting Washington is seeking long-term access or direct stakes in oilfields holding as much as 90 billion barrels of proven reserves. The discussions, reported by several US media outlets, come months after President Donald Trump’s administration abducted
The newest gold derivatives on the market do not settle in dollars; they settle in Tether. Binance listed European-style gold and silver options on July 29, cash-settled in USDT through its ADGM-regulated Nest Exchange, the exchange said, following the USDT-settled metals perpetuals it introduced in January. “We’ve seen strong demand for our commodity perpetuals since
Gold eased slightly on Wednesday but remained close to its highest level in more than three months as investors prepared for a US inflation reading that could decide whether the latest rally has room to run. Spot gold traded around $4,627 an ounce in later Asian dealings after approaching $4,700 earlier this week, while US
Gold eased on Tuesday after briefly extending its rally to the highest level in more than three months, as investors shifted attention from US fiscal concerns to inflation data and Federal Reserve Chair Kevin Warsh’s first Jackson Hole address. Spot gold slipped 0.2% to about $4,640 an ounce after trading above $4,668 earlier in the
Oil prices recovered on Tuesday after a sharp pullback in the previous session as traders weighed tougher US sanctions on Iran against signs that Washington’s economic campaign may pose less immediate danger to physical supply than renewed military action. Brent crude rose 0.3% to $92.44 a barrel in Asian trading, while WTI gained 0.4% to
India is turning to sugar imports for the first time in nearly a decade as a sharp rise in domestic prices raises concerns about supplies ahead of the country’s crucial festive season. The government will allow duty-free imports of 1 million metric tons of raw sugar between now and Oct. 31, according to a Commerce