International News 06 January 2025
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Gold prices poised for weekly gain, market awaits Trump's policies
On Friday, the price of gold increased due to a weaker US dollar and an inflow of investments in safe haven assets.The focus has now shifted to the economic outlook and interest rates in the future, following the proposed policy changes of the newly elected US President, Donald Trump. Spot gold prices rose by 0.2%, reaching the highest level since 13 December. Gold bullion prices have increased by about 1.6% so far this week. The US gold futures also rose by 0.2%.The decline in the US dollar index has made gold more affordable for holders of other currencies, and analysts predict that any further decline in the US dollar could result in higher gold prices.The uncertainty surrounding Trump's inauguration and his proposed tariffs and protectionist policies has increased, potentially leading to a trade war. Geopolitical tensions are also rising, as evidenced by Israeli airstrikes in Gaza that have resulted in the death of at least 68 Palestinians, and Russia launching a drone strike in Ukraine that has caused damage in multiple districts.
India's Export Rice Prices Continue to Fall on Sluggish Demand and Weak Rupee
The price of rice in India, the world's top exporter, has fallen for the third consecutive week to its lowest level in 17 months. This decline is attributable to subdued demand and the depreciation of the Indian rupee to a record low. Demand from Asian and African buyers has been affected due to the New Year holidays, but it is expected to pick up in the coming weeks. The weak rupee has increased the competitiveness of Indian rice in international markets. Conversely, Thai rice traders are anticipating a decline in Thai rice exports this year, as India is expected to increase its exports. While Thai rice prices have remained relatively stable, the lack of demand could potentially lead to further price declines
Russian Gas Supply to Europe to Increase by 14% in 2024
Despite a slight decline in customer numbers, Russian gas supplies to Europe increased by 14% in 2024, reaching a total of 32.1 billion cubic metres, according to reports from Gazprom and the European Network of Gas Transmission System Operators (ENTSOG). Gas supplies to western and central European countries through Ukraine increased by 6% to 15.4 billion cubic metres, while supplies to southern and southeastern European countries through the TurkStream pipeline rose by 23% to 16.7 billion cubic metres. Russian gas exports to Europe via this route also increased by 3% in December 2024. Furthermore, data from the Turkish Energy Market Regulatory Authority indicates that Russia's pipeline gas supplies to Turkey totalled around 20 billion cubic metres in 2024.Notwithstanding these gains, Russia's gas dominance in Europe is set to diminish in 2025 with the completion of a contract to transit gas through Ukraine
https://internasional.kontan.co.id/news/pasokan-gas-rusia-ke-eropa-meningkat-14-di-tahun-2024