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Gold Price Forecast: XAU/USD remains on the defensive amid positive signs from US-China trade talks
The Gold price (XAU/USD) edges lower to around $3,235 during the early Asian session on Tuesday. The precious metal remains on the defensive due to a stronger US Dollar (USD), higher US yields, and optimism on the US-China trade deal.
Fxstreet
Tue, May 13
PRECIOUS-Gold steadies as traders gauge US-China tariff truce, await key US data
May 13 (Reuters) - Gold prices were steady on Tuesday as a U.S.-China agreement to pause tariffs for at least 90 days lifted risk appetite, diminishing bullion's safe-haven appeal, while investors awaited key U.S. inflation data for further economic cues.FUNDAMENTALS* Spot gold XAU= held its gro...Reuters
Tue, May 13
US House targets big climate, clean energy rollbacks in budget proposal
House plans to phase out clean energy tax creditsProposal targets Biden's Inflation Reduction Act climate measuresEnvironmental groups criticize cuts to clean energy investmentsBy Valerie Volcovici and Nichola Groom WASHINGTON, May 12 (Reuters) - U.S. House lawmakers laid out plans on Monday ...Reuters
Tue, May 13
Rubio discusses way forward on Ukraine ceasefire with European counterparts
May 12 (Reuters) - U.S. Secretary of State Marco Rubio discussed the "way forward for a ceasefire" in Ukraine with European counterparts, including the foreign ministers of Britain and France, and the EU's foreign policy chief, the State Department said on Monday.Ukraine's foreign mi...Reuters
Tue, May 13
Oil prices ease off 2-week highs after US, China pause tariff war
By Stephanie Kelly May 13 (Reuters) - Oil prices eased on Tuesday from a two-week high reached during the previous session after the U.S. and China agreed to temporarily slash tariffs, sparking optimism that a trade war between the world's two biggest economies would come to an end.The U.S. a...Reuters
Tue, May 13
TECHNICALS-Commodities intraday targets/key levels
For more technical analyses, click SINGAPORE, May 13 (Reuters) - Contract Target Support/Resistance Brent oil $63.88res $65.69/$66.38Palm oil (3rd month)3,867/3,906/3,970 ringgitsup 3,765/3,738/3,702 ringgitWTI* $60.78res $62.65/$63.37Spot gold$3,206/$3,176/$3,135res $3,251/$3,286/$3,322LME ...Reuters
Tue, May 13
US House looks to hike work requirements for food aid
WASHINGTON, May 12 (Reuters) - U.S. House lawmakers on Monday laid out a plan to increase work requirements for some recipients of Supplemental Nutrition Assistance Program food aid benefits, and to require states to share more of the cost of the program, according to the farm committee bill text.Reuters
Tue, May 13
Colorado top court allows Boulder to sue Exxon, Suncor over climate change
Colorado Supreme Court allows climate lawsuit against Exxon, SuncorRuling marked second time a state supreme court has allowed climate case to proceedBy Nate Raymond May 12 (Reuters) - Colorado's highest court on Monday rejected efforts by Exxon Mobil XOM.N and Suncor Energy SU.TO to dismiss ...Reuters
Mon, May 12
CIF/FOB Gulf Grain-Soybean barge bids soften as CBOT futures surge
CHICAGO, May 12 (Reuters) - Basis bids for soybeans delivered by barge to U.S. Gulf Coast terminals ticked lower on Monday as Chicago Board of Trade soybean futures Sv1 jumped nearly 2% on news of a U.S.-China agreement to temporarily slash tariffs, traders said.Under the temporary truce, the U.S. w...Reuters
Mon, May 12
COLUMN-World corn supplies set for 12-year lows despite massive US crop: Braun
By Karen Braun NAPERVILLE, Illinois, May 12 (Reuters) - U.S. farmers are poised to reap a record corn crop in the upcoming 2025-26 cycle.Additionally, combined output among key corn exporters in South America is also slated for an all-time high in 2025-26.But the U.S. Department of Agriculture pr...Reuters
Mon, May 12
G Mining Ventures to restate 2024 financial statements
May 12 (Reuters) - Canada-based mining company G Mining Ventures GMIN.TO said on Monday it will restate its consolidated financial statements for 2024 to reflect certain accounting adjustments that were identified during a financial review for the first quarter.The non-cash accounting adjustments wo...Reuters
Mon, May 12
US Plains HRW Wheat-Spot basis bids steady to down as futures sink
CHICAGO, May 12 (Reuters) - Spot basis bids for hard red winter (HRW) wheat were steady to lower in a spot check of facilities around the southern U.S. Plains on Monday as futures slumped and dealers in some locations said the trade had been quiet for weeks. CBOT July K.C. HRW wheat KWN25 futures fe...Reuters
Mon, May 12
CANADA-CRUDE-Discount on Western Canada Select heavy crude unchanged
May 12 (Reuters) - The discount on Western Canada Select (WCS) to the North American benchmark West Texas Intermediate futures (WTI) CLc1 was unchanged on Monday.WCS for June delivery in Hardisty, Alberta, settled at $9.10 a barrel under the U.S. benchmark WTI, brokers said, flat on Friday's clo...Reuters
Mon, May 12
COMMODITIES-Oil jumps, soy gains as US-China tariff pause brings relief
Crude oil futures rise to a two-week highSoybean futures trade at highest in over three monthsSpot gold prices fall on drop in safe-haven demandBy Seher Dareen May 12 (Reuters) - Oil prices jumped to a two-week peak on Monday while soybeans climbed to their highest in more than three months after...Reuters
Mon, May 12
LIVESTOCK-CME cattle notch record highs after US halts Mexican cattle imports
By Heather Schlitz CHICAGO, May 12 (Reuters) - Chicago Mercantile Exchange live cattle and feeder cattle futures notched lifetime highs on Monday after Washington suspended cattle imports from Mexico over a flesh-eating parasite, which Mexican President Claudia Sheinbaum denounced as unfair, trad...Reuters
Mon, May 12
US nuclear regulator begins special inspection at Quad Cities nuclear power plant
May 12 (Reuters) - The U.S. Nuclear Regulatory Commission (NRC) has launched a special inspection at the Quad Cities Generating Station in Marseilles, Illinois, following discovery of inoperable safety-related vacuum breakers, the agency said on Monday.The two-unit nuclear plant is operated by Const...Reuters
Mon, May 12
Colorado top court allows Boulder to sue Exxon, Suncor over climate change
By Nate Raymond May 12 (Reuters) - Colorado's highest court on Monday rejected efforts by ExxonMobil XOM.N and Suncor Energy SU.TO to dismiss a lawsuit by the city of Boulder seeking to hold the fossil fuel companies responsible for climate change.The Colorado Supreme Court in a 5-2 decision ...Reuters
Mon, May 12
FACTBOX-What's in the Republican tax and health plan - and what is not
By Andy Sullivan WASHINGTON, May 12 (Reuters) - Republicans in the U.S. Congress have released initial drafts of a sweeping budget package that would fulfill President Donald Trump's calls to cut taxes and reduce spending, though many details still need to be resolved.Here is a summary of wha...Reuters
Mon, May 12
US Cash Crude-Grades steady as traders digest news of US-China tariff truce
May 12 (Reuters) - Physically traded domestic crude grades were broadly steady on Monday, dealers said, as market participants weighed news of a tariff truce between the U.S. and China, the world's two largest economies. The U.S. will cut extra tariffs it imposed on Chinese imports in April this...Reuters
Mon, May 12
Chevron attempting to restart El Segundo, California refinery after taking units offline last week
NEW YORK, May 12 (Reuters) - Chevron CVX.N is attempting to restart the El Segundo, California refinery after taking units offline last week, sources familiar with plan operations said on Monday.The El Segundo refinery has brought its 100,500-barrel per day (bpd) crude distillation unit back online,...Reuters
Mon, May 12
