Oil was mixed in Asia today after Euro Zone worries shifted to Spain’s surging borrowing costs, analysts said.
New York’s main contract, light sweet crude for delivery in July, fell 13 cents to $83.14 per barrel, while Brent North Sea crude for August delivery gained 10 cents to $96.15.
Fears that Spain would require a bailout were reignited after the borrowing costs on its 10-year bonds topped 7.0 per cent yesterday, the highest level since the birth of the euro in 1999.
“Spanish bond yields reached euro-era highs, reminding investors that the region’s economy remains stressed,” Phillip Futures said in a report.
Mr Nick Trevethan, senior commodities strategist for ANZ Research, added: “The big weight hanging over the market is what’s going on in Europe.”
Traders were also eyeing a two-day G20 Summit currently being held in Mexico for more leads to the market, he said.
Gold price is still not stabilized in India like everywhere else. After going down, the g
Gold price opens lower in Hong Kong
The gold price in Hong Kong went down 180 HK dollars to open at 12,720 HK dollars per tael on Thursday, according to the Chinese Gold and Silver Exchange Society.
The price is equivalent
Market Cap Indices Turn Red at Qatar Exchange
The QE index spending almost the entire session below the break even line witnessed a bearish trend on Thursday 23rd May 2013. The index dropping 37.28 points or 0.41 percent reached at 9,048.62 leve
Small Cap and Large Cap Push ADX Index Lower
The ADX General Index sustained its downward march and finished the session with a decline of 1.23 percent on Thursday 23rd May 2013 . The index dropped 43.02 points, closing at 3,460.36.
M
WEF to focus on challenges
Leaders from the Middle East and North Africa in business, economics and politics will focus on the aftermath of the Arab Spring as they gather for the World Economic Forum in Jordan this weekend.