Gold Breaks $1,800 Again as Traders Await Steer From Fed Minutes
Bloomberg News, Bloomberg News A Twenty kilogram gold brick is handled by a worker at the ABC Refinery smelter in Sydney, New South Wales, Australia, on Thursday, July 2, 2020. Western investors piling into gold in the pandemic are more than making up for a collapse in demand for physical metal from traditional retail buyers in China and India, helping push prices to an eight-year high. Photographer: David Gray/Bloomberg , Bloomberg
(Bloomberg) Gold climbed above $1,800 an ounce again as investors took a risk-off turn before the release of Federal Reserve meeting notes that should bring fresh insight on U.S. monetary policy.
Published July 2, 2021, 1:03 PM
The Department of Energy (DOE) is being urged to exercise ‘utmost transparency’ on its anticipated approval of the 45-percent Malampaya equity divestment of Shell Philippines Exploration B.V. (SPEX) to Malampaya Energy XP Pte. Lt., a subsidiary of Udenna Corporation owned by businessman Dennis Uy.
That was the call of Senate Committee on Energy Chairman Sherwin T. Gatchalian, following pronouncement by Energy Secretary Alfonso G. Cusi that the ‘documents’ relating to the sale had already been submitted to the DOE.
“That (Shell-Udenna sale purchase agreement documents) had been submitted to us and we are evaluating the financial, technical capability of the transaction. It’s in process actually right now, so we don’t have decision on that yet,” Cusi said.
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