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.
The geopolitical risk premium in oil has driven crude prices to nearly four-year highs and shows no signs of abating.
Net central bank purchases totalled 116.5t in Q1, 42% higher y-o-y and the highest Q1 total since 2014.
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.
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.
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 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 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 Managing Director Christine Lagarde warned that a surge in trade protectionism could sap the momentum of the global economic upswing.
Argentina is to start talks about a financing deal with the International Monetary Fund (IMF) on Wednesday amid reports it is seeking $30bn.