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“The company had several interactions with trading companies, financial investors and potential partnerships on the development for the field,” Mendonça said. “We are evaluating several options.”
State producer Saudi Aramco reduced the price of its Arab Light grade for customers in Asia to a 30-cent premium to the regional benchmark for February, according to a price list seen by Bloomberg.
Expanding on his criticism, Sinha questioned the underlying motive behind the action, linking it to Venezuela's natural resources. "The reason he has settled on is taking claim to the oil reserves of Venezuela," Sinha said.
President Donald Trump said the US plans to “run” Venezuela after ousting Maduro over the weekend, leaving the future governance of the South American nation uncertain.
Elevated prices are keeping casual buyers away, concerned about overpaying, whereas buying in dips offer opportunities for investors seeking safe havens.
The US attack against Venezuela has further fueled the prices of an already favourable environment for white metal, buoyed by industrial demand and expectations of further rate cuts by the US later this month.
Analysts expect precious metal prices to rise in the wake of the large-scale US military action against Venezuela on Saturday, as heightened geopolitical uncertainty boosts demand for safe-haven assets.
Gold and silver prices are expected to see sharp swings in the coming week as investors track key US economic data and assess rising geopolitical uncertainty following the US military operation that captured Venezuelan President Nicolas Maduro
Commodity cycles reward patience more than prediction. The recent rally in gold, silver, and copper have already spoken about it. Crude oil has been silent, but in markets, long silences often precede the loudest moves.
Markets are likely to open sharply on edge Monday after US forces captured Venezuelan President Nicolás Maduro and his wife, charging them with drug trafficking following a major military operation on Saturday.
Aluminum prices have been lifted by structural supply constraints, including caps on smelting capacity in China and reduced output in Europe due to persistently high-power costs
As silver’s role in solar and electronics deepens, India’s import reliance on China climbs past 40%, echoing concerns once reserved for rare earths
On MCX, gold futures for February delivery climbed Rs 948, or 0.7 per cent, to Rs 1,36,752 per 10 grams in a business turnover of 15,639 lots
Analysts predict gold prices to consolidate in the range of $4,320 (Rs 1,34,000) and $4420 (Rs 1,37,000) after this sharp rally and sell-off this week.
Silver rates across India’s major cities showed remarkable uniformity, with only marginal differences due to local taxes, jeweller margins, and logistics costs
Trump administration stepped up a campaign against Venezuela’s oil exports by sanctioning companies based in Hong Kong and mainland China, along with vessels accused of evading curbs.
Gold gained 0.7% to $4,348.42 an ounce at 8:00 a.m. in Singapore.
China has tightened silver export controls from January 1, elevating the metal to strategic status. Here’s what it means for prices, defence, solar and supply chains.
Spot gold hovered around $4,320 an ounce, while silver slid toward $71
After a record bull run, a sharp decline in gold and silver prices should be viewed as a positioning reset rather than a breakdown of the long-term thesis, an analyst said.
Hindustan Zinc share price: Hindustan Zinc shares jumped nearly 27% in the past one month, and are up more than 38% in 2025 so far.
The Augmont Bullion report predicts silver prices to consolidate between $70 (Rs 2,23,000) and $75 (Rs 2,37,000), after the sharp sell-off.
In 2026, gold prices are expected to range between $3,900 and $5,000 per ounce, though heightened financial or geopolitical stress could push prices higher, says precious metal analyst.
Gold's recent decline in price is mainly attributed to profit-taking ahead of the new year.
Silver prices witnessed a dramatic pullback on December 29, as profit-taking hit the momentum.
