Daily Masala

This is what others are talking about this morning:

Oil moves away from 12-year lows as China shares rise

Global benchmark oil futures rallied more than 2 percent on Friday, following Asian shares higher after Beijing deactivated a circuit breaker mechanism that was blamed for aggravating equity market crashes.

Oil options lurch closer to $20 Goldman doomsday forecast

When U.S. investment bank Goldman Sachs said last year that oil could fall as low as $20 per barrel, it assigned a fairly low probability to that scenario.

Gold firm above $1,100 as China jitters prompt safe-haven bids

Gold hit a fresh nine-week high above $1,100 an ounce on Friday, as investors sprinted to safe-haven assets due to jitters over the Chinese economy and tumbling stock markets.

Why 2015’s Best Commodity Could Turn Into This Year’s Nightmare

Last year’s best-performing commodity is poised to become the market’s worst nightmare. After the longest rally in London cocoa futures since at least 1989, farmers from Ivory Coast to Peru are preparing to revive supplies in the 2016-17 season that starts in October, creating a surplus that Rabobank International says will be the largest in six years.

China increases gold hoard as as prices retreat 

China increased its gold hoard for the sixth straight month in December as prices extended their decline through the end of last year. The central bank boosted reserves to 56.66 million ounces or about 1,762 tonnes from 56.05 million ounces in November, according to the People’s Bank of China.

China steps up efforts to reduce overcapacity

Efforts will be strengthened by the central government this year to reduce over production and overcapacity, according to Premier Li Keqiang. It will also close small coal mines that fall short of safety requirements, Li said during his tripto Shanxi province,


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