Gold Trades to the Highest Price Since 2016
Gold futures (June 2018 Comex contract) gained $6.70 today and are currently trading at $1,348.60 per ounce. Gold closed higher on four of the five trading days this week, resulting in an $11 gain. This marks the second consecutive week of higher pricing for gold.
However, it is the high achieved this week that is the most significant event. On Wednesday, gold futures traded to an intraday high of $1,369.30. This price point is well above the three former highs that were achieved in September of last year and during the first quarter of this year.
This marks the fourth time since September 2017 that gold prices have broken above $1,350 per ounce. Prior to that, these rallies were unable to sustain a price point of even $1,300. Read More @ http://www.kitco.com/commentaries/2018-04-13/Gold-Trades-to-the-Highest-Price-Since-2016.html
The World’s Most Profitable Oil Major
For decades, giant Aramco has been a financial enigma, but the curtains have now been pulled back thanks to some anonymous sources revealed to Bloomberg.
Analysts and traders have for decades tried their hand at figuring out the size of Aramco. From its oil reserves to profit, to breakevens per barrel—it has managed to keep the information away from an eager public.
But now, sources presumably close to the small Aramco in-crowd have revealed that H1 2017 net income came in at a whopping $33.8 billion for the oil giant. This figure exceeds that of even Apple, which took in $28.9 billion during that same timeframe. Read More @ https://oilprice.com/Energy/Crude-Oil/The-Worlds-Most-Profitable-Oil-Major.html
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