Gold is steady in the early morning Asian session, but may edge lower in a possible technical correction after the front-month Comex gold contract for August delivery settled at a new record high overnight. But any losses are likely to be limited ahead of U.S. CPI data due out today. This data could be a…
Oil rose, after falling more than 2% on Tuesday, as an industry report pointed to a sizable drop in US crude stockpiles and tensions simmered in the Middle East. Brent crude climbed to around $81 a barrel, while West Texas Intermediate was below $79. The American Petroleum Institute reported inventories shrank by 5.2 million barrels last week, according…
Asia-Pacific markets have extended gains on Wednesday after producer prices in the U.S. came in lower than expected for July. The producer price index — a measure of wholesale inflation — increased 0.1% last month. Economists expected the reading to show a monthly gain of 0.2% in July, in line with the previous month’s reading,…
