The World Gold Council (WGC) has announced the appointment of Jammy Chan as its Head of Investment in Greater China, effective immediately. Mr Chan will be based in Beijing and will report to Roland Wang, General Manager, Greater China at the WGC.
old prices remained steady in Asian trade Wednesday mainly on increased safe-haven buying after a report said European banks face sizeable write-offs. Gold for immediate delivery was seen trading at $1223.55 an ounce at 11.30 a.m Singapore time while gold for August delivery was at $ 1226.97 an ounce.
Singapore Mercantile Exchange, a leading Asian multi-product commodity derivatives exchange, has announced that it will commence trading of the West Texas Intermediate (WTI) light sweet crude oil futures contract on its state-of-the-art electronic trading platform when it goes live in August this year.
World oil prices extended overnight losses in Asian trade Wednesday as the dollar moved up amid weak market trends. Light sweet crude for July delivery was seen trading at $72.04 a barrel at 11.30 a.m Singapore time while Brent crude was at $72.27 a barrel in London. Analysts said after the long holiday weekend, the market was focused on economic storm clouds in the Euro zone and China.
The decade of the 1960s stood orthodoxy on its head. It was a time when alternative everything got a hearing. Expertise came into doubt; the phrase some decisions are too important to be left to the experts was heard everywhere.
The prices of wheat, rice and sugar remained steady during the last week in India, said state run prices movement observer, the Department of Consumer Affairs on Tuesday. According to data released by the Department of Consumer Affairs, prices of wheat and rice remained steady at most of the reporting centres. Prices of wheat decreased at Ludhiana and Rajkot and increased at Jammu, Mumbai and Chennai.
World oil prices advanced past the $74 a barrel mark Tuesday mainly after positive results in Chinese factory data that eased concerns on Euro zone worries. Light sweet rude for July delivery was seen trading at $74.35 a barrel at 11.00 a.m Singapore time while Brent crude was at $74.56 a barrel at the same time in London. Analysts said Euro zone economic sentiment unexpectedly fell last month, an indication that the region's debt crisis has begun affecting the real economy.
World's largest populated country, China has identified potato as the ideal crop that could help it alleviate poverty and serve as a bulwark against famine. China is facing a huge challenge of feeding a growing nation on a shrinking supply of arable land while confronting severe water shortages has long been a major concern here. That prompted the dragon nation to look for other sources apart from rice and wheat that consumes less water but yield far more calories per acre.
Latin America's number one gold producer, Peru is expected to fully recover from a recent slump in output once production starts at the Minas Conga gold mine. According to Peru's mining ministry, country's gold production fell 4.23% during the first four months of 2010 compared to the same period last year. . In April, yellow metal production was down 20.6% year-on-year.
Gold prices extended gains in Asian trade Tuesday mainly on geopolitical tensions that boosted its appeal as a safe haven investment asset. Gold for immediate delivery was seen trading at $1222.11 an ounce at 11.30 a.m Singapore time while U.S. gold futures for August delivery was at $1,220.40 an ounce.
Oil climbed above $74 per barrel on Monday in line with a timid recovery across financial markets, but still logged its biggest monthly loss in 18 months after the European economic crisis raised the prospect of reduced fuel demand.
Oil crept above $74 on Monday in line with a timid recovery across financial markets, but was set for its biggest monthly loss in 18 months after European economic crisis raised the prospect of reduced fuel demand.
In order to extend cooperation in cotton markets, the International Cotton Association and China Cotton Association (CCA) have joined hands to formally acknowledge the cooperation between the two trade associations.
China's National Development and Reform Commission (NDRC) on Monday slashed gasoline prices by 230 yuan per tonne and diesel prices by 220 yuan per tone. However, NDRC increased onshore domestic gas prices by 24.9 percent to 1,155 yuan ($169.1) per tone per 1,000 cubic metres.
Russian energy giant Gazprom has expressed hope that it can export larger natural gas in 2010 as the global economy has begun to recover after the crisis.
Surge in crude oil storage capacity in emerging markets will help lift global average annual growth rate (AAGR) in oil storage capacity by 4.9% during 2009-15. Emerging markets constitute 26% of the global storage capacity, according to an analysis by Research and Markets.
Gold is marginally lower and threading water in most currencies today with markets subdued as the London Stock Exchange and Wall Street are closed for a national holidays.
Bharatbook has added a new report on Gems and Jewellery Market in India 2010. It is a consumer goods series. It gives export and the import structure of the Gems and Jewellery market in India.
The big, fat Indian wedding is the biggest bet for gold now. With gold prices soaring to over Rs 18,000 per 10 gm in India and global markets witnessing a huge surge, demand for gold jewellery had witnessed a fall in India. But, weddings are the saving grace now. With India witnessing thousands of weddings this marriage season, gold jewellery sales are set to go up in India.
Dogged by controversies, Zimbabwe has banned diamond exports till it gets the clearance from the Kimberley Process. The government said it has imposed the ban on all diamond exports, including those from Rio Tinto unit, until gemstones from its controversial Marange fields are certified by industry regulators.
Gold prices have set on fire but the demand for gold coins seem to have emerged stronger than ever with global investors going on the buying spree last year. As per the available statistics, investors bought 228.5 tonnes of gold in the form bullion coins, up by over 195% since 2000, when the investors bought 77.4 tonnes of gold coins.
Asia is one of the more interesting gas markets in the world. Places like Thailand and its southeast Asian neighbors have seen phenomenal demand growth over the last several years. Total has said they're in Thailand for gas. (Part of the reason I believe Thai shale gas may become an interesting play over the coming years.)
The financial world is coming unglued again. Greece has pushed the E.U. to the brink. Global stock markets are tumbling. And yet, at the same time at least one economic indicator is soaring. The Baltic Dry Index. Today, the BDI jumped nearly 9%. The largest daily jump in at least the last six months.
The first step in an ambitious project to generate 1,000 megawatts of electricity from offshore wind turbines in Lake Erie was taken this week with an order to General Electric for five massive turbines. The Lake Erie Energy Development Corp., a Cleveland-based nonprofit, said the direct-drive turbines will provide 4 MW each of electricity and would be operational by the end of 2012, generating enough electricity to power 6,000 homes.
The Philippines is considering a five year moratorium on exports of iron ore till the completion of its two integrated steel processing plants. According to country's Department of Environment and Natural Resources (DENR), the proposed ban comes from the need to conserve the resource for the possible establishment of iron or steel plants as well as the rights of the companies producing iron.
Growing demand for petroleum products in the tiny south-eastern nation of Brunei forced it to import some of its required fuel products for the first time to avoid shortage. Country's only oil refinery, which was built in 1983, can no longer keep up with the increase in domestic demand for petroleum products, making it necessary for the Sultanate to import some of its required fuel products to avoid shortage.
China on Thursday inaugurated Asia's largest solar power plant with a designed installed capacity totalling 166 megawatts. The power plant located at Kunming, capital of Yunnan province went into operation in the first stage with installed capacity of 20 MW.
Global platinum production is set to face some crisis in the coming month as the world watches one of the biggest sports festivals in the world, the FIFA World Cup Soccer. It is strange that a sports event will help lift the prices of precious metals in the global markets. But this is not the first time sports events helped lift the prices of commodities. During the Beijing Olympics, several commodities witnessed a surge due to the increased demand from China for construction and other purposes....
After raiding iron ore mines across the world to make investments, China is now scouting for platinum producers in South Africa. Recently, China has decided to pump in $877 million into South Africa's platinum sector. In a deal backed by the China-Africa Development Bank, Chinese state-owned mining firm Jinchuan will acquire a 51 per cent stake in the small platinum developer and develop its Frischgewaagd-Ledig mine.
Global oil prices advanced past $75 a barrel mark in Asian trade Friday mainly after China denied reports of its Eurozone disinvestments. Light sweet crude for July delivery was seen trading at $75.01 a barrel at 11.30 a.m Singapore time while in London, the Brent crude July contact was up 8 cents to $74.74 on the ICE futures exchange.
