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Crude oil prices consolidate narrowly around 11-month high. After rebounding about 20% from the March low, upside momentum appears fading. Traders are increasingly concerned about the demand outlook which could be hurt by resurgence in coronavirus cases in China. The Chinese government reported 793 new cases last week, compared with below 300 two weeks ago.
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Gold (XAU/USD) has erased early gains and turns south on Tuesday, as the haven demand for the US dollar is back on the rise amid escalating American-Sino tensions. Strains between the world’s two biggest economies resurfaced over the South China Sea issue after a US carrier group entered the disputed waters last week. Also, fading prospects
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Oil prices held steady on Monday, pressured by falling stock indexes, but optimism around U.S. stimulus plans and some supply concerns buoyed futures. Brent crude futures remained unchanged at $55.41 a barrel by 11:21 a.m. EST (1621 GMT). U.S. West Texas Intermediate crude fell 13 cents to $52.14 a barrel. Major U.S. stock indexes fell,
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NEW DELHI: Gold futures in the domestic market traded flat in the morning trade on Monday after witnessing profit booking in the previous session, as hopes of a massive stimulus bolstered the prospects for precious metals. The Joe Biden administration and Democratic and Republican lawmakers discussing a new $1.9 trillion coronavirus relief package agreed on
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