De-dollarization push by China and Russia, among others might skyrocket gold prices even higher

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The gold bears have finally caved under the deafening barrage of fiscal and geopolitical catalysts, from Fed hints to intensely brewing conflict with Iran. Gold is already trading well above its 5-year high. Not only has the U.S.-Iran conflict reached a boiling point, with Trump readying to deploy an additional 1,000 troops to the Middle […]

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Egypt’s GASC to pay for wheat within 180 days instead of immediately

Egypt, the world’s largest wheat importer, will go back to paying its grain suppliers within 180 days instead of immediately, a government source and traders said. Egypt’s state grain buyer GASC had said in January it would start immediate on-site payment after obtaining financing from Islamic Trade Finance Corp. for its international purchasing tenders. Before […]

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Egypt’s Zohr Gas Field boosts production six-fold

The huge Zohr gas field offshore Egypt has increased its production six-fold since it started production in January this year, Egypt’s Petroleum Minister Tarek el-Molla has said. Production at Zohr in the Mediterranean has increased to 2 billion cubic feet per day (bcfd) from 350 million bcfd when it began commercial production in January 2018, Egyptian economic […]

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Indonesia seen as largest wheat importer in 2017/18

Indonesia is forecast to be the largest wheat importer for 2017/18 at 12.5 million metric tons, passing Egypt, which has traditionally been the top wheat buyer, according to the latest World Agriculture Supply and Demand Estimate (WASDE) report from the U.S. Department of Agriculture. Indonesia’s wheat imports have been growing based on food and feed […]

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