Oil and Gas price Forecast:
PRECIOUS-Gold set to end week lower but U.S. shutdown stems losses.
Recently the state-owned GSPC acquired a stake in Gujarat gas company however,there are many questions in the minds of investors about the possible synergies between the two and possible mergers.As the transition process is still underway,investors seek to know about the strategy for growth and possible change of guard at the management level.
The management has provides a forecast on oil and gas process where it expects Brent and RLNG prices to remain stable till 2017.however remain a concern is that the process are expected to move sharply on the domestic front.many feel that this would impact the performance of the company and reduce the margins,considering that GGCL sources 50 percent from domestic markets.
PRECIOUS-Gold set to end week lower but U.S. shutdown stems losses.
Gold is set for its biggest weekly drop in three weeks
but declines have been kept in check by a partial U.S. government shutdown that
threatens to hurt economic growth, increasing bullion's safe-haven appeal.
The metal's 1.5 percent loss for the week so far
was largely due to a single massive Comex sell order on Tuesday that sent prices
below $1,300 an ounce, but it quickly recovered as the budget impasse in Washington
dragged on.
"I think it is very sensitive to sharp dips right
now as there is no China to support," said one precious metals trader in
Hong Kong. "Since we have been on a data-watch for tapering news, that
could dampen sentiment as well."
Fed officials have said this week that the lack of data
was making it difficult to read the economy and the Fed might have to keep
monetary policy for longer to help offset the harm caused by political fighting
in Washington
.
Spot gold eased
0.1 percent to $1,315.44 an ounce by 0307 GMT after sharp swings earlier in the
week.
The shutdown of the U.S. government appeared
likely to drag on for another week and possibly longer as lawmakers consumed day
three of the shutdown with a stalling game, raising fears that the impasse
could hurt a more significant mid-October deadline to raise the U.S. debt
ceiling.
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