GoldZip integrates Chainlink CCIP for gold token XGZ
GoldZip is working with Midas Labs to bring gold-backed XGZ to multiple networks through CCIP. The company has not announced the supported chains or when users can start transfers.
Commodities and crypto news
Follow developments in gold and other commodities in the context of crypto markets.
All Commodities coverage
US approves emergency exchange of up to 4m oil barrels
The US is turning to its strategic reserve to ease oil supply disruptions caused by Hurricane Isaias. ExxonMobil and BP America must return more crude than they borrow.
Seven OPEC+ producers hold November quotas as supply risks persist
An output target does not guarantee that oil will reach buyers. OPEC+ left quotas unchanged while its monitoring committee highlighted shipping routes and damaged energy facilities.
G7 sets 100M-barrel release, puts diesel first
Diesel deliveries take priority in the G7 plan to ease pressure on energy supplies. The overall release spans four months, alongside efforts to prevent simultaneous refinery shutdowns.
US sets October 6 deadline for 40 million-barrel oil exchange
The reserve release carries a repayment obligation rather than being an outright sale. A 20 million-barrel limit per company has an exception if oil remains after acceptable awards are made.
US confidence falls to 81.9 as gold rebounds toward $4,171
The Conference Board says consumer confidence has fallen to its lowest level since 2014. Gold rose after the release, as the survey exposed growing concern about both the economy and price pressures.
Gold’s weekly loss nears 2% ahead of US PCE test
Gold ended the latest trading week under pressure from interest rates and the dollar. Wednesday’s US inflation release and Friday’s jobs report will provide fresh evidence for assessing the prospect of another Fed rate increase.
SEBI tightens vault rules for gold and silver ETFs
India is bringing physical bullion held for gold and silver ETFs into a common vaulting framework. Changes approved by SEBI raise vault managers’ minimum net worth by 50% and strengthen the separation of bullion held for different products and entities.