Oil prices slip but Saudi-Iran tensions limit losses - Reuters News
19-Mar-2018 07:12:51 PM
• Middle East tensions prevent further price drops
• U.S. rig count rises back to 800 - Baker Hughes
• Climbing U.S. output puts pressure on prices
By Ahmad Ghaddar
LONDON, March 19 (Reuters) - Oil prices eased on Monday after rallying at the end of last week, but tensions between Saudi Arabia and Iran helped limit losses.
Prices had climbed on Friday after Saudi Crown Prince Mohammed bin Salman said the kingdom would develop nuclear weapons if arch-rival Iran did.
Gold hits two-week low ahead of Fed meeting but seen bouncing - Reuters News
19-Mar-2018 07:06:23 PM
• Investors await Fed forward policy guidance
• Platinum touches lowest in more than 2 months
(Adds analyst comment, updates prices, changes dateline to LONDON)
By Eric Onstad
LONDON, March 19 (Reuters) - Gold touched its lowest in more than two weeks on Monday as markets remained nervous ahead of a U.S. central bank meeting that could raise interest rates and signal three more increases this year.
The price of gold has bounced after each of the five previous U.S. rate hikes and is expected to again, said Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen.
The two-day Federal Open Market Committee (FOMC) meeting begins on Tuesday, with the U.S. central bank expected to raise interest rates for the first time this year on Wednesday.
With an increase of 25 basis points seen as a done deal, one key focus is whether Fed policymakers forecast four rate hikes this year instead of the three projected at the December meeting.
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