Hungarian energy group MOL has transferred the transit fee for use of the Ukrainian section of the pipeline
None of the interventions addresses the dysfunction that makes an initiative like this necessary in the first place
Previously the MEC for KZN’s department of economic development, tourism & environmental affairs, premier Dube-Ncube is the first woman to lead that province’s executive
The hefty hike will be felt by all South Africans when gas-reliant manufacturers such as those that produce bread, are forced to hike prices
But Numsa’s Irvin Jim is adamant the sector can absorb the union’s demand for a 20% wage hike, way above the 6.5% headline inflation rate
That would allow President Ranil Wickremesinghe time to institute tough economic reforms to secure a bailout from the IMF
Failure to win on Saturday would put coach Ian Foster and captain under pressure in terms of their future with the team
Chris and Suzaan Alheit have been making some of the Cape’s finest whites for the past ten years, the latest vintage being no exception
Bengaluru — Gold prices steadied on Monday as concerns over the impact of the Omicron coronavirus variant offset a stronger dollar, with investors assessing whether the emergence of the variant could change the US Federal Reserve’s more hawkish stance.
Spot gold was little changed at $1,792.41 per ounce by 6.46am, while US gold futures advanced 0.4% to $1,792.60.
With new cases of the Omicron variant found in the Netherlands, Denmark and Australia, more countries imposed travel restrictions to try sealing themselves off.
“Given the uncertainty around whether this new variant is more dangerous than the Delta variant and the risk of further restrictions, gold’s downside should be protected,” Harshal Barot, a senior research consultant for South Asia at Metals Focus, said, adding that it could trade between $1,780 and $1,830.
Barot also said while it is too soon to gauge if virus concerns have eased rate hike expectations, there is an upside risk for gold that the variant eventually leads the Fed to scale back on its stimulus-tapering and rate-rise plans.
Atlanta US Federal Reserve president Raphael Bostic was the latest among a growing number of Fed officials to say he remains open to accelerating the pace of the central bank’s bond taper.
Reduced stimulus and interest rate hikes tend to push government bond yields up, raising the opportunity cost of gold, which pays no interest.
Countering upbeat triggers for gold, however, the dollar index gained 0.2%, increasing bullion’s cost to buyers holding other currencies.
Physical gold demand picked up in major Asian hubs last week, with dealers in India preparing for a likely spurt in buying as the wedding season gathers pace.
Spot silver rose 1% to $23.35 per ounce. Platinum gained 2.1% to $973.81, while palladium added 2.6% to $1,794.05.
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Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.