Gold held near its highest in four weeks on Monday after rising almost 1 percent in the previous session, buoyed as geopolitical tensions boosted its safe-haven appeal.
* U.S. gold futures slipped 0.1 percent to $1,266.4 an ounce.
* The U.S. economy slowed less than initially thought in the first quarter, but softening business investment and moderate consumer spending are clouding expectations of a sharp acceleration in the second quarter.
* Heavy rains and a cyclone led to an 8 percent, or 6-tonne drop in Australian gold production in the first quarter, a survey released on Sunday showed.
* Gold demand in Asia tapered off this week as buyers took to the sidelines in India to await a new national tax policy and as China entered a seasonal slowdown.
Oil prices fell on Monday as a relentless rise in U.S. drilling undermined an OPEC-led push to tighten supply. Trading activity will be subdued on Monday due to public holidays in China, the United States and Britain. Brent crude futures were trading down 15 cents, or 0.3 percent, at $52.00 per barrel at 0253 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 17 cents, or 0.3 percent, at $49.63 per barrel.
The Organization of the Petroleum Exporting Countries and some non-OPEC producers agreed last week to extend a pledge to cut production by around 1.8 million barrels per day (bpd) until the end of the first quarter of 2018. But the decision did not go as far as many investors had hoped and led to a heavy sell-off. An initial agreement, in place since January, would have expired in June this year. For Any Commodity Market News Please Visit : www.paceresearchindia.com and Call : 8817774774
* U.S. gold futures slipped 0.1 percent to $1,266.4 an ounce.
* The U.S. economy slowed less than initially thought in the first quarter, but softening business investment and moderate consumer spending are clouding expectations of a sharp acceleration in the second quarter.
* Heavy rains and a cyclone led to an 8 percent, or 6-tonne drop in Australian gold production in the first quarter, a survey released on Sunday showed.
* Gold demand in Asia tapered off this week as buyers took to the sidelines in India to await a new national tax policy and as China entered a seasonal slowdown.
Oil prices fell on Monday as a relentless rise in U.S. drilling undermined an OPEC-led push to tighten supply. Trading activity will be subdued on Monday due to public holidays in China, the United States and Britain. Brent crude futures were trading down 15 cents, or 0.3 percent, at $52.00 per barrel at 0253 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 17 cents, or 0.3 percent, at $49.63 per barrel.The Organization of the Petroleum Exporting Countries and some non-OPEC producers agreed last week to extend a pledge to cut production by around 1.8 million barrels per day (bpd) until the end of the first quarter of 2018. But the decision did not go as far as many investors had hoped and led to a heavy sell-off. An initial agreement, in place since January, would have expired in June this year. For Any Commodity Market News Please Visit : www.paceresearchindia.com and Call : 8817774774
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