BULLION:
Gold, however, has recovered after touching 1-1/2-year lows on Aug. 16 at $1,159.60 as the dollar's run slowed after U.S. President Donald Trump criticized the Federal Reserve for raising interest rates at a time when the government was trying to stimulate the economy. Spot gold may rise to $1,224 an ounce, as it has broken a resistance at $1,209 per ounce, according to Reuters technical analyst Wang Tao. shorts in COMEX gold contracts were at a record high. short positions will not be covered till you see a major trigger for buying," said Amit Kumar Gupta, portfolio management services head at Adroit Financial Services in New Delhi.
ENERGY:-
The monitoring committee of the Organization of the Petroleum Exporting Countries (OPEC) found that oil producers participating in a supply-reduction agreement, which includes non-OPEC member Russia, cut output in July by 9 percent more than called for. are now more confident that supply is likely to fall short of demand in the coming months, as reflected by a narrowing in the discount, or spread, between the October and November Brent futures contracts to around 26 cents a barrel LCOc1-LCOc2 , half of what it was a month ago. The findings of the OPEC monitoring committee for last month compare with a compliance level of 120 percent for June and 147 percent for May, meaning participants have been steadily increasing production, but at a more modest pace than some had expected.
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