News
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Citi raises gold forecast to $3,500/oz over next 3 months on negative US outlook
Aug 4 (Reuters) - Citi raised its gold price forecast over next three months to $3,500 per ounce on Monday from $3,300, and the expected trading range to $3,300–$3,600 from $3,100–$3,500, on the belief that near-term U.S. growth and inflation outlook has deteriorated."U.S. growth and tariff-rela...Reuters
Mon, Aug 4
Malaysian palm oil firm FGV to be delisted on August 28
KUALA LUMPUR, Aug 4 (Reuters) - Malaysia's FGV Holdings FGVH.KL, one of the world's largest palm oil producers, will be delisted on August 28 after being taken over by a state-owned body.FGV said last week the Federal Land Development Authority (Felda) had gained more than the 90% of the com...Reuters
Mon, Aug 4
TECHNICALS-CBOT soybeans may test resistance zone of $9.94-3/4 to $9.98
For more technical analyses, please click SINGAPORE, Aug 4 (Reuters) - The CBOT soybean November contract SX25 may test resistance zone of $9.94-3/4 to $9.98 per bushel, a break above which could lead to a gain to $10.03-1/2.The price moves have been controlled by a series of projection levels on th...Reuters
Mon, Aug 4
Silver Price Forecast: XAG/USD flat lines around $37.00; bearish potential seems intact
Silver (XAG/USD) struggles to capitalize on Friday's modest recovery gains and oscillates in a range at the start of a new week as softer US NFP-inspired US Dollar (USD) selling now seems to have abated.
Fxstreet
Mon, Aug 4
Tropical storm Dexter forms over the western Atlantic, NHC says
Aug 3 (Reuters) - Tropical storm Dexter has formed over the western Atlantic and is forecast to move away from the U.S. coast and stay north of Bermuda, the U.S. National Hurricane Center said on Sunday.The tropical storm was about 300 miles per hour (480 kilometers) west north-west of Bermuda, with...Reuters
Mon, Aug 4
Athletics-Coleman defends Richardson after reported arrest
Aug 4 (Reuters) - Christian Coleman defended fellow sprinter Sha'Carri Richardson after she was reportedly arrested for pushing Coleman, saying on Sunday that she was a "great person".Reigning 100 metres world champion Richardson was arrested for domestic violence at a Seattle airport ah...Reuters
Mon, Aug 4
METALS-London copper edges higher as dollar weakens
By Brijesh Patel Aug 4 (Reuters) - London copper rose on Monday, helped by a softer dollar after weaker-than-expected U.S. jobs data boosted bets for a Federal Reserve interest rate cut in September.Three-month copper on the London Metal Exchange CMCU3 was up 0.3% at $9,663 per metric ton, as of ...Reuters
Mon, Aug 4
Goldman keeps Brent oil forecast, but flags downside risks to demand
Aug 4 (Reuters) - Goldman Sachs on Sunday reiterated its oil price forecast with Brent averaging $64 per barrel in the fourth quarter of 2025 and $56 in 2026, but expects an increasing range of risks to its baseline estimates from recent developments.
Reuters
Mon, Aug 4
Phillips 66 Reports Upset Conditions At Borger, Texas Refinery
Aug 3 (Reuters) - Phillips 66 PSX.N:REPORTS ON AUGUST 2, 2025, THE U34 SRU EXPERIENCED UPSET CONDITIONS FROM APPROXIMATELY 14:00 THROUGH 19:00 AT BORGER, TEXAS REFINERYSAYS DURING THIS UPSET MORE THAN 500 LBS. SO2 WAS RELEASEDSOURCE - TEXAS COMMISSION ON ENVIRONMENTAL QUALITY FILINGCAPACITY - 149,00...Reuters
Mon, Aug 4
GRAINS-Wheat hits lowest since May amid plentiful supply
CANBERRA, Aug 4 (Reuters) - Chicago wheat futures on Monday fell to their lowest level since May, and near their lowest since 2020, as ongoing harvests in the Northern Hemisphere kept the market well supplied. Corn and soybean futures edged higher. Both crops remain under pressure from expectations ...Reuters
Mon, Aug 4
WTI tumbles to below $66.50 after OPEC+ agrees to another bumper output boost
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $66.35 during the early Asian trading hours on Monday. The WTI edges lower after the Organization of Petroleum Exporting Countries and allies (OPEC+) approved another increase in oil production, raising oversupply concerns.Fxstreet
Mon, Aug 4
China restricts critical minerals for Western defense manufacturers, WSJ reports
Aug 3 (Reuters) - China is limiting the flow of critical minerals to Western defense manufacturers, delaying production and forcing companies to scramble for stockpile of the required minerals to make everything from bullets to jet fighters, the Wall Street Journal reported on Sunday.Reuters could n...Reuters
Mon, Aug 4
TECHNICALS-Commodities intraday targets/key levels
For more technical analyses, click SINGAPORE, Aug 4 (Reuters) - Contract Target Support/Resistance Brent oil $69.99/$70.85sup $69.13/$68.07Palm oil (3rd month)-res 4,273/4,312/4,344 ringgitsup 4,211/4,161 ringgitWTI* $67.31/$67.60/$67.87sup $66.83/$66.36/$66.07Spot gold$3,342/$3,314res $...Reuters
Mon, Aug 4
Kuwait praises OPEC+ decision to raise oil output for September
Aug 3 (Reuters) - Kuwait's Oil Minister Tariq Al-Roumi praised the OPEC+ decision to raise oil production by 547,000 barrels per day for September, saying it reflected coordination aimed at ensuring oil market stability.Reuters
Mon, Aug 4
Gold Price Forecast: XAU/USD loses ground to near $3,350, weaker US jobs data might cap downside
The Gold price (XAU/USD) edges lower to around $3,360, snapping the two-day winning streak during the early Asian session on Monday. Nonetheless, weak US job data and tariff fears might weigh on the US Dollar (USD) and help limit the USD-denominated commodity’s losses.
Fxstreet
Mon, Aug 4
COLUMN-OPEC+ gets lucky as it brings back oil output amid uncertainty: Russell
By Clyde Russell LAUNCESTON, Australia, Aug 4 (Reuters) - A couple of months ago it would have been a brave call to say that OPEC+ would be able to bring back 2.5 million barrels per day of crude production and still keep oil prices anchored around $70 a barrel.But this is exactly what has occurr...Reuters
Mon, Aug 4
Australia's Santos commits Narrabri gas for domestic supply in deal with ENGIE
Aug 4 (Reuters) - Oil and gas producer Santos STO.AX on Monday said it will supply utility firm Engie ENGIE.PA with up to 20 petajoules of natural gas a year from its Narrabri project in New South Wales that has been entirely committed to the Australian domestic market. Santos has yet to make a ...Reuters
Mon, Aug 4
RPT-FOCUS-China's solar giants quietly shed a third of their workforces last year
Over 40 solar firms have delisted, gone bankrupt or been sold since 2024Job losses took place as companies attempted to cut costs, analysts sayMore cuts to industry capacity are needed, analysts and industry insiders sayBeijing signals intervention to cut capacity, stabilize pricesBy Colleen Howe ...Reuters
Mon, Aug 4
Codelco ends El Teniente rescue effort after five miners found dead
Total of six people dead from mine collapseCodelco to convene international experts to investigate Chilean authorities will evaluate when operations safe to restartBy Daina Beth Solomon SANTIAGO, Aug 3 (Reuters) - All five workers at Chile's El Teniente copper mine who were trapped in a colla...Reuters
Sun, Aug 3
