Oil Prices Decline Ahead Of OPEC Meeting

Oil prices ended lower on Tuesday as investors were awaiting the upcoming the Organization of the Petroleum Exporting Countries (OPEC) meeting.

The West Texas Intermediate for July delivery fell USD 0.78 to settle at USD 65.07 a barrel on the New York Mercantile Exchange, while Brent crude for August delivery was down USD 0.26 to close at USD 75.08 a barrel on the London ICE Futures Exchange, reported Xinhua.
OPEC and its allied oil producers including Russia will meet on June 22 in Vienna.
It is expected that the major exporters would discuss whether to withdraw from the current output-cut deal.
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Gold Holds Steady Amid Firm Dollar, Stronger Equities

Gold prices were little changed on Wednesday, after slipping to a near six-month low in the previous session, amid a steady dollar and firmer equities.

Spot gold held steady at $1,273.92 an ounce, as of 0331 GMT. The metal fell to its lowest since Dec. 22 at $1,270 on Tuesday.
U.S. gold futures for August delivery were, however, 0.2 percent lower at $1,276 per ounce.
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Lead Futures Up On Increasing Demand

Lead futures were trading higher during the afternoon trade in the domestic market on Wednesday as participants created fresh positions, taking positive cues from spot market on pick-up in demand. Marketmen said building up of positions by traders backed by upsurge in demand from battery-makers at domestic spot market, supported the upside in lead prices at futures trade.

At the MCX, lead futures for June 2018 contract is trading at Rs 164.10 per kg, up by 0.03 per cent, after opening at Rs 164.30, against a previous close of Rs 164.05. It touched the intra-day high of Rs 164.50.
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Nickel Futures Up On Increasing Demand

Nickel futures were trading higher during the noon trade in the domestic market on Wednesday as participants widened their bets, driven by pick-up in demand in the spot market. Analysts attributed rise in nickel futures to building-up of positions by traders due to pick up in demand from alloy- makers in the spot market.

At the MCX, nickel futures for June 2018 contract is trading at Rs 1007.30 per kg, up by 0.84 per cent, after opening at Rs 1002.70, against a previous close of Rs 998.90. It touched the intra-day high of Rs 1010(at 13:07 hours).
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Gold Prices Rise As U.S.-China Trade Tensions Intensify

Gold prices rose early Tuesday, supported by a weaker dollar and a dip in Asian stocks as a trade spat between the United States and China intensified.

Spot gold was up 0.3 percent at $1,281.45 an ounce by 0046 GMT.
U.S. gold futures for August delivery were also 0.3 percent higher at $1,283.80 per ounce.
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Oil falls on spiralling U.S.-China trade dispute, rising output

Oil prices fell nearly one percent on Tuesday as an escalating trade dispute between the United States and China triggered sharp selloffs in many global markets.

Crude was also weighed down by expectations that producer cartel OPEC and key ally Russia will gradually increase output
The United States and China are threatening punitive tariffs on each other’s exports, which could include oil supplies, putting pressure on shares markets.
Brent crude futures were at $74.69 per barrel at 0646 GMT, down 65 cents, or 0.9 percent, from their last close.
U.S. West Texas Intermediate (WTI) crude futures were at $65.24 a barrel, down 61 cents, or 0.9 percent.
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Lead Futures Down On Subdued Demand

Lead futures were trading lower during the afternoon trade in the domestic market on Tuesday as participants reduced their exposure amid subdued demand from consuming industries in the spot market. Marketmen said the weakness in lead futures was due to a sluggish demand from battery-makers at the domestic markets.

At the MCX, lead futures for June 2018 contract is trading at Rs 165.10 per kg, down by 0.42 per cent, after opening at Rs 165.20, against a previous close of Rs 165.80. It touched the intra-day low of Rs 164.95(at 12:08 hours).
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