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Boeing (BA.N) said on November 16 that it will ensure its factories have the capacity to absorb higher production levels before further increasing aircraft output next year, highlighting the aircraft manufacturers cautious strategy after years of production setbacks. The company recently received approval from U.S. regulators to increase monthly production of its 737 aircraft from 38 to 42. Stephanie Popp, head of Boeings commercial aircraft business, said the companys current focus will be on "stabilizing" existing production rhythms before further increases in production.Boeing (BA.N): Before ramping up production again next year, it will ensure that its factories are ready to handle a higher proportion of aircraft production.According to the Financial Times, U.S. Trade Representative Greer is increasingly dissatisfied with the slow progress made by the European Union in reducing tariffs and regulatory barriers.Airbus: We expect the Middle East to need 4,080 passenger aircraft over the next 20 years, including 2,380 single-aisle aircraft and 1,700 wide-body aircraft.November 16th - According to two industry sources and data from the London Stock Exchange Group (LSEG), the port of Novorossiysk in Russia resumed oil loading operations on Sunday after a two-day suspension. LSEG data shows that the Suezmax tanker "Alan" and the Aframax tanker "Rhodes" are currently loading oil at the ports berths. Previously, a Ukrainian drone attack caused the Russian Black Sea port of Novorossiysk to suspend oil exports on Friday, prompting Transneft, the Russian oil pipeline monopoly, to suspend crude oil supplies to the export terminal. The attack damaged two oil berths at the port, temporarily disrupting port operations.

Gold Set For Fourth Week of Losses As Dollar Strengthens, Fed Rate Hike Bets

Aria Thomas

May 16, 2022 10:10

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Gold lost more than 1 percent on Friday and is poised for its fourth consecutive weekly decline, as the dollar's strong run and the prospect of more aggressive U.S. interest rates drained bullion demand.


At 1:54 p.m. EDT (1754 GMT), spot gold declined 0.7% to $1,808.89 per ounce, after hitting its lowest level since February 4 at $1,778.6 per ounce. This week, it has decreased roughly 4 percent.


U.S. gold futures finished at $1,808.20, down 0.9%.


Thursday, U.S. Federal Reserve Chair Jerome Powell stated that the struggle to contain inflation would "involve some pain" as a result of the impact of rising interest rates.


David Meger, director of metals trading at High Ridge Futures, stated, "Gold is being pulled down as a result of the Federal Reserve's commitment to hike interest rates at a rapid pace and the dollar's exceptional strength."


The market will pay close attention to inflation figures in the future.


The dollar index was poised for its sixth straight weekly increase, hovering close to a 20-year high. 


Although bullion is viewed as a hedge against inflation, it pays no interest and is subject to rising U.S. short-term interest rates and bond yields.


"A resurgence in global stock markets coupled with decreased risk aversion in the market to conclude the trading week is also negative for safe-haven metals," Kitco senior analyst Jim Wycoff wrote in a note.


Wall Street's major indexes were driven higher by growth stocks. [.N] [MKTS/GLOB]


The spot price of silver increased by 1.6% to $20.98 per ounce, but has declined by around 6% this week, the most since late January.


Platinum decreased by 0.8% to $936.51. Palladium rose 1.5% to $1,936.83 on Friday, after dropping almost 8% on Thursday.


Meger added, "Overwhelming concerns about supply disruptions in Russia take precedence on the palladium market, and there is aggressive purchasing on dips since prices have fallen considerably."

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