Europe to ditch US dollar in payments for Iranian oil
The European Union is planning to switch payments to the euro for its oil purchases from Iran, eliminating US dollar transactions, a diplomatic source told RIA Novosti.
Get ready for $100 a barrel oil and the conflict it represents
The geopolitical risk premium in oil has driven crude prices to nearly four-year highs and shows no signs of abating.
Central bank gold demand was up 42%
Net central bank purchases totalled 116.5t in Q1, 42% higher y-o-y and the highest Q1 total since 2014.
Thieves suck millions out of Mexican banks in transfer heist
Thieves siphoned hundreds of millions of pesos out of Mexican banks, including No. 2 Banorte, by creating phantom orders that wired funds to bogus accounts and promptly withdrew the money, two sources close to the government’s investigation said.
Russian bank helps Venezuela defy US sanctions on cryptocurrency
The world’s first state-backed digital currency ‘el petro’ launched by Venezuela this year to circumvent US sanctions is reportedly getting help from a Russian bank.
Gold ‘radically undervalued’ with price about to take off
Against growing crude prices gold is significantly cheap and presents a good buying opportunity, according to Leigh Goehring, managing partner at New York-based firm Goehring & Rozencwajg Associates.
Anglo American to spin off unit to encourage platinum demand
Anglo American will spin out its internal venture capital unit, it said on Tuesday, as the world's biggest platinum producer seeks to spur investment in fuel-cell technology to boost demand for a commodity in oversupply.
Gold price crashes through $1,300
Gold on Tuesday suffered its worst trading day in 17 months after a recovery in the value of the US dollar and seven-year highs for yields on the country's government bonds.
IMF's Lagarde Warns Rising Protectionism May Slow Global Growth
IMF Managing Director Christine Lagarde warned that a surge in trade protectionism could sap the momentum of the global economic upswing.
Argentina seeks IMF financial aid 'to avoid crisis'
Argentina is to start talks about a financing deal with the International Monetary Fund (IMF) on Wednesday amid reports it is seeking $30bn.