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Energy and Precious Metals Commentaries
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Analysis | Commodity Market Commentaries |
Written by Saxobank |
Fri Feb 03 12 12:29 ET
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Looking at year-to-date returns across different asset classes one would almost think that we were looking at a 6 month review, not just one month. A very strong performance has been seen across many different asset classes and some have had the strongest start for decades. The negative sentiment that prevailed across financial markets towards the end of 2011 was all forgotten during January and investors, of which many had applied defensive strategies, were forced to chase the market (higher).
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Analysis | Commodity Market Commentaries |
Written by BullionVault |
Fri Feb 03 12 10:44 ET
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Dollar Gold Prices fell back below $1750 per ounce while stock markets jumped higher immediately following the release of better-than-expected US jobs data on Friday.
The Bureau of Labor Statistics nonfarm payrolls report, published on Friday, shows that the US added a net 243,000 nonagricultural private sector jobs last month. In addition, both November and December's nonfarm figures were revised upwards. The unemployment rate fell to 8.3%, down from 8.5% the previous month.
Silver Prices also fell following the nonfarm announcement, while the US Dollar saw an immediate gain against major currencies such as the Pound, Euro and Yen.
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Analysis | Commodity Market Commentaries |
Written by Alaron |
Fri Feb 03 12 10:43 ET
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The oil market is getting less rattled by the headlines surrounding Iran. Iranian threats to shut down the Straits of Hormuz or cut off supply to Europe in a preemptive strike, have been like the old story of "the Little Boy Who Cried Wolf". So is it any wonder that the market is ignoring some of the provocative headlines coming from Iran. It seems that the oil market has been getting prepared for this show down for months and we have the oil supplies to prove it. Even the story that Defense Secretary Leon Panetta thinks that Israel will attack Iran over the next few months failed to rattle a market that has been expecting nothing less for months if not years.
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Analysis | Commodity Market Commentaries |
Written by ecPulse.com |
Fri Feb 03 12 06:06 ET
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Crude oil couldn't maintain its high levels around $100 where it retreated for five straight days amid growth fears in Europe as Greece still did not announce the deal with private bondholders as it previous stated for this week, where low demand on crude is seen amid rising oil stockpiles, and the main factor behind pushing crude to these level is eased Iran tension after the IAEA said it progressed well in talks with the country.
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Analysis | Commodity Market Commentaries |
Written by ecPulse.com |
Fri Feb 03 12 04:55 ET
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As this week comes to an end, many factors are affecting the metal's movement today, where gold is mixed now and could be very volatile during the session as markets are waiting for the jobs report from the world's largest economy in addition to the several important data from the euro-area region and the United Kingdom.
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Analysis | Commodity Market Commentaries |
Written by Easy Forex |
Fri Feb 03 12 02:51 ET
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Oil & Gold (XAU) Gold extended the rally to $1760 and consolidated just under the level. Oil is under heavy pressure after breaking the $98.50 bottom of the recent range and extended falls to $96 overnight
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Analysis | Commodity Market Commentaries |
Written by Alaron |
Thu Feb 02 12 10:42 ET
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The Gold Price slipped 0.5% from a new 8-week high Thursday lunchtime in London, while global stock markets stalled after a 3-day rise and commodities also pulled back.
The Euro fell from $1.32 for the third time this week after chief finance minister Jean-Claude Juncker called new proposals for stemming the currency zone's debt crisis - only agreed at a summit on Monday - "largely insufficient".
The Gold Price for Euro investors today touched €43,900 per kilo, a level breached only five times during the surge of summer last year.
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Analysis | Commodity Market Commentaries |
Written by Alaron |
Thu Feb 02 12 10:41 ET
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Stupid is as stupid does and after Exxon Mobil, the world's largest publicly traded oil company, reported net income of $9.4 billion for the quarter, up from $9.25 billion the year before and revenue of $121.6 billion, up 16 percent from the year before, T. Boone Pickens seemed to suggest that they were stupid. You see Mr. Pickens, according to the AP, after his company, Clean Energy Fuels, announced a deal with truck maker Navistar to make more vehicles that run on the abundant fuel and build more fueling stations, seemed to suggest that the only way to bolster U.S. natural gas prices and cut the market's massive oversupply is to stop drilling. Mr. Pickens said that, "This country is so overwhelmed with natural gas that the only way to get prices up is to stop companies drilling gas wells," Pickens said at a news conference to promote the Navistar deal, which advances his aim to break U.S. dependence on oil for transport. "Don't be afraid that this deal will be made and we will wake up in a year with natural gas prices three or four times higher," Pickens said.
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Analysis | Commodity Market Commentaries |
Written by ecPulse.com |
Thu Feb 02 12 05:18 ET
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Crude oil inclines today in attempts to erase yesterday's losses which achieved after US oil inventories rose unexpectedly which indicated that the world's biggest oil consumer, U.S.'s consuming is easing amid signs of slowing growth.
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Analysis | Commodity Market Commentaries |
Written by ecPulse.com |
Thu Feb 02 12 05:17 ET
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Gold returned to continue the upside journey today, to currently trade around the highest level recorded in eight weeks on optimism that sent the U.S. dollar to the lowest record seen in more than two months ahead of the bond auctions awaited from Spain and France today and also as markets are still tracking any developments in the Greek talks with the private sector.
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Analysis | Commodity Market Commentaries |
Written by Alaron |
Wed Feb 01 12 10:15 ET
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Ok I just am not buying it. All of the hyperbole and enthusiasm that we are seeing in oil. Oh sure I will buy the breaks in oil for short term plays but it appears that the next big move on oil may be down. Oil failed to establish a breakout which means we are in a choppy downward correction. Which is amazing considering the Fed promise to keep interest rates low for an eternity and some stronger than expected Official Chinese manufacturing Purchasing Managers Index which in January rose to 50.5 from 50.3 in December and yet another deal to deal with the European crisis but the truth is from a long term position aspect I am not buying It. Even the news that the UK manufacturing index jumped to an eight-month high in January and unexpectedly returned to growth after a quarter of contraction as production jumped I am not buying it. I think big picture over the next few months we are going to work lower as supply rises and shoulder season is coming.
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Analysis | Commodity Market Commentaries |
Written by ecPulse.com |
Wed Feb 01 12 05:29 ET
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Crude oil fluctuates heavily today ahead of EIA report, where it is trying to correct some of yesterday’s losses which achieved after it gathered momentum and managed to fly above $101 levels, but bad data from the United States has pull crude down to trade below $100 levels again.
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Analysis | Commodity Market Commentaries |
Written by ecPulse.com |
Wed Feb 01 12 04:43 ET
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With the start of the session today, we can see the metal is fluctuating around the opening level after the gains recorded yesterday, where the metal is volatile due to the heavy load of major fundamentals awaited today from the euro-area region and the world's largest economy in addition to the German bond sale, in the time eyes are still focused on the Greek debt-talks.
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Analysis | Commodity Market Commentaries |
Written by Easy Forex |
Wed Feb 01 12 02:26 ET
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Oil & Gold (XAU) Gold range traded between $1745 and $1725 in sideways trade. Oil spikes to $101 before reversing violently to below $98.50 in a weak technically signal.
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Analysis | Commodity Market Commentaries |
Written by Alaron |
Tue Jan 31 12 10:51 ET
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A gas price horror story is evident at pumps across America as the price, according to the Energy Information Agency, hit the highest level since Halloween. The EIA reports the national average retail price of regular gasoline increased 5 cents a gallon last week, bringing the national average to a whopping $3.439 a gallon. The last time prices went this high demand fell to an 11 year low. Oil prices that are stubbornly staying around $100 a barrel, along with planned and unplanned maintenance at many refineries, is adding to this nightmare on Main Street. Will gas prices stay high forever or are we doomed to a year were $5.00 a gallon is a simple reality.
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Analysis | Commodity Market Commentaries |
Written by BullionVault |
Tue Jan 31 12 10:41 ET
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Gold Bullion prices were headed for their biggest calendar month gain this century by Tuesday lunchtime in London.
Gold Prices hit $1745 per ounce - just shy of 14% higher than the Dollar Gold Bullion price set at the last London Fix of 2011. By this measure, January 2012 looked set to record the fourth-largest calendar month gain in the last three decades, and the biggest since September 1999, the month that saw the signing of the Central Bank Gold Agreement, which limited the sales of Gold Bullion by signatory central banks.
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Analysis | Commodity Market Commentaries |
Written by ecPulse.com |
Tue Jan 31 12 04:56 ET
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Crude oil is trying to correct some of yesterday’s losses as it gathered momentum on better sentiment in markets as EU summit came up with some solutions for the region’s crisis, although, Greece’s crisis remain stuck so far.
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Analysis | Commodity Market Commentaries |
Written by ecPulse.com |
Tue Jan 31 12 04:08 ET
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With the start of the session today, gold returns to continue the upside move after the decline seen yesterday; however, as we expected the metal recovered most of the huge losses yesterday after the U.S. dollar lost momentum and now we can see the metal extended the gains ahead of the critical fundamentals awaited from the euro-area region.
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Analysis | Commodity Market Commentaries |
Written by Easy Forex |
Tue Jan 31 12 01:57 ET
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Oil & Gold (XAU) Gold dipped to $1720 before resuming its strength back above $1630 by the close. Oil dipped to recent supports under $98.50 before rebounding with US stocks into the close.
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Analysis | Commodity Market Commentaries |
Written by Alaron |
Mon Jan 30 12 14:07 ET
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Iran also does not seen to be as scary on Monday. Weapon inspections are raising hopes that there may be a resolution to this crisis. It seems that according to the AP, "Iran's official news agency reports that the country's foreign minister has said that inspectors from the U.N.'s nuclear watchdog can extend an ongoing visit to the Islamic Republic." The Monday report by IRNA says Ali Akbar Salehi told Turkish TRT TV in Addis Ababa, Ethiopia, that the three-day visit by International Atomic Energy Agency inspectors that started Sunday can be extended "if they desire." The remarks appear to be part of a show of flexibility and transparency by Tehran during the IAEA inspection tour, which could greatly influence the direction and urgency of U.S.-led efforts to rein in Iran's ability to enrich uranium. The West suspects Iran is pursuing weapons technology. Iran says its program is for peaceful purposes.
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