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Gold futures decline to Rs 1.49 lakh/10g as oil surge, US-Iran tensions weigh on sentiment

New Delhi, Apr 7 (PTI) Gold prices declined by Rs 610 to Rs 1.49 lakh per 10 grams in futures trade on Tuesday as surging crude oil rates and escalating tensions in West Asia dampened the demand for the safe-haven asset and kept investors cautious. On the Multi Commodity Exchange, the yellow metal for June delivery depreciated by Rs 610, or 0.41 per cent, to Rs 1,49,371 per 10 grams in a business turnover of 7,270 lots. Gold traded slightly lower on Tuesday as crude oil climbed towards USD 115 per barrel amid heightened geopolitical tensions particularly in the West

IEA chief: current oil and gas crisis worse than 1973, 1979, 2002 together

iran-israel-war-strait-of-hormuz-shipping-security

PARIS, April 7 (Reuters): The current oil and gas crisis triggered by the blockade of the Strait ​of Hormuz is “more serious than the ‌ones in 1973, 1979 and 2002 together”, Fatih Birol, the head of the International Energy Agency (IEA), ​told Le Figaro newspaper. “The world has ​never experienced a disruption to energy supply ⁠of such magnitude,” he said in ​an interview with the French newspaper released ​in its Tuesday edition. He said the European countries, as well Japan, Australia and others will suffer, but ​the countries most at risk were developing ​nations which will suffer from higher oil

Stock markets decline in early trade

Mumbai, Apr 7 (PTI) Stock market benchmark indices Sensex and Nifty declined in early trade on Tuesday as surging crude oil prices amid growing uncertainty about the fate of West Asia war dented investors’ sentiment. Unabated foreign fund outflows also added to the gloom. The 30-share BSE Sensex tumbled 824.44 points to 73,282.41 in early trade. The 50-share NSE Nifty dropped 248.95 points to 22,719.30. From the 30-Sensex firms, InterGlobe Aviation, Eternal, Axis Bank, Mahindra & Mahindra, State Bank of India and Larsen & Toubro were the biggest laggards. Tech Mahindra, HCL Tech, Bajaj Finance and Tata Consultancy Services were

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