OPEC stood on the verge of a deal to cut its official production target, but after six hours of fraught talks in Vienna on Thursday ministers left the cartel’s headquarters before a final agreement was nailed down.
Gold backed off from four-week highs on Wednesday as markets returned to a risk-on mode after Trump Administration officials said the U.S. remained in talks with the Chinese, just a day after President Donald Trump said a deal was unlikely until after 2020.
Gold ended off its lows on Monday as risk-averse investors sought a hedge after the U.S. reissued its tariffs ultimatum to China. Palladium, meanwhile, surged to record highs above $1,860 on more concerns of supply risk in the auto-catalyst metal.
The retail portion of Saudi Aramco's initial public offering (IPO) has been oversubscribed, with orders reaching 38.1 billion Saudi riyals (7.9 billion pounds), lead manager Samba Capital said on Thursday.
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