Gold nears record, set for weekly gains

Gold hovered near record levels on Friday and was on track for a weekly gain after the U.S. Federal Reserve's recent oversized interest rate reduction and on signs that further cuts were on the horizon, reports Reuters.Spot gold rose 0.3 per cent to $2,593.79 per ounce, as of 0539 GMT,...

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Oil prices set to end week higher after US rate cut

Oil prices eased on Friday, but were on track to register gains for a second straight week following a large cut in U.S. interest rates and declining global stockpiles, reports Reuters.Brent futures were down 32 cents, or 0.43 per cent, at $74.56 a barrel at 1223 GMT while U.S. WTI...

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Wheat rises on European supply issues, corn and soy in greater demand

Chicago wheat rose on Friday, and registered its biggest weekly gain in more than three months on concerns over lower production in Europe, reports Reuters.Soybeans rose to a three-week high and corn inched up with rising demand for the crops, according to analysts.The most-active wheat contract on the Chicago Board...

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Copper hits two-month high

LONDON: Copper prices hit their highest in two months and aluminium the highest in three on Thursday after the long-awaited interest rate cut by the US Federal Reserve weakened the dollar and gave support to growth-dependent metals.Three-month copper on the London Metal Exchange rose 1.4 per cent to $9,533 per...

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