Economy

Bitcoin, Ether rise; India’s Kotak pauses crypto trade; China warns of digital financial risks — Crypto Moves

Follow-ups -eshrag News:

RIYADH: Gold traded flat on Thursday but prices were set for a second consecutive weekly gain as the Ukraine crisis and broadening inflationary pressures lifted the safe-haven metal’s appeal.

Spot gold was little changed at $1,974.28 per ounce, as of 0426 GMT. US gold futures were down 0.4 percent at $1,977.60.

The metal has gained about 1.4 percent so far in the week. Most markets will be closed on Friday for a holiday.

Palladium rises

On Thursday, palladium rose 2.3 percent to $2,368.85.

Spot silver was flat at $25.73 per ounce, while platinum was unchanged at $986.27. 

Grains firm

US wheat and corn futures rose further in early Asian trading on Thursday, on worries over global supplies as the Russia-Ukraine war continued.

The most-active wheat contract on the Chicago Board of Trade was up 0.6 percent at $11.28 a bushel.

CBOT corn edged up 0.32 percent to $7.8-1/2 a bushel.

CBOT soybeans rose 0.67 percent to $16.87-1/4 a bushel.

Copper firms on tight supply

Copper prices rose on Thursday on expectations that top metals consumer China’s COVID-19 battle will have minimal impact on demand, while zinc succumbed to profit-taking, although losses were limited amid persistent worries over tight supply.

Three-month copper on the London Metal Exchange edged up 0.5 percent to $10,353.50 a ton, as of 0409 GMT, keeping it on track for a weekly gain.

The most-active May copper contract on the Shanghai Futures Exchange ended the morning trade 0.4 percent higher at $11,655.12 a ton.

Zinc down

London zinc was down 0.6 percent at $4,437 a ton, after hitting a five-week high in the previous session underpinned by supply worries as inventories shrank and smelters in Europe struggled amid a spike in energy costs.

Shanghai zinc slipped 0.4 percent, after climbing to its highest in nearly 15 years on Wednesday.

LME aluminum rose 0.4 percent to $3,250 a ton, lead slipped 0.2 percent to $2,427.50, while tin gained 0.2 percent to $43,390.

Shanghai aluminum climbed 1.6 percent, nickel rose 1.1 percent, lead shed 0.2 percent, and tin jumped 2.1 percent.

(With inputs from Reuters) 

Noting that the news was copied from another site and all rights reserved to the original source.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button