OPEC expects to see global oil inventories fall by the second quarter of this year

ABU DHABI - OPEC expects to see global oil inventories fall by the second quarter of this year in response to producers' agreement to cut output, OPEC Secretary-General Mohammed Barkindo said on Speaking to reporters on the sidelines of a conference, Barkindo said OPEC had no specific oil price objective in mind,but wanted a price that would sustai

BASE METAL

Nickel futures surge on rise in physical demand, Nickel futures were trading higher during the morning trade in the domestic market on Thursday as investors and speculators extended their positions in the industrial metal on rise in physical demand from consuming industries amid weake US dollar against a basket of other currencies.

At the MCX, nickel futures for January 2017 contract is trading at Rs 697.20 per kg, up by 1.25 per

Gold hits 7-week highs on weaker dollar after Trump briefing

Gold rose to a 7-week high on Thursday on a weaker dollar after U.S. President -elect Donald Trump provided little clarity on future fiscal policies at a press briefing. Spot gold was up 0.5 percent at $1,196.06 per ounce, after touching a high of $1,198.58, its best since Nov. 23.U.S. gold futures rose 0.1 percent to $1,197.80 per ounce.

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