GOLD:
A speaking appearance by Fed Chair Janet Yellen this afternoon will be one of the key events gold markets will be watching this week, said Brown Brothers Harriman. The Fed chief is scheduled to address the Economic Club of New York during a luncheon gathering.
CRUDE OIL:
Members and non-members from the Organization of the Petroleum Exporting Countries are due to meet in Doha on April 17 to discuss the plan. "There is going to be pressure on the participants in the meeting to ensure they achieve something. Otherwise they risk the support-market sentiment that we are seeing now dissipate rapidly," said Victor Shum, senior oil and gas analyst at IHS in Singapore.
So far, 10 countries have confirmed their attendance at the meeting, with only OPEC-member Libya saying it will not attend.
10 major producers, Algeria, Iraq, Kuwait, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, Venezuela, Oman and Russia, which drill more than 37.2 million barrels per day combined, have committed to the meeting. Another seven nations, Angola, Ecuador, Indones Mexico, Kazakhstan, Azerbaijan and Norway, representing approximately 7 million bpd in production, remain uncommitted.
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