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Energy and Precious Metals Commentaries
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Analysis | Commodity Market Commentaries |
Written by ICN.com |
Mon Mar 12 12 05:37 ET
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Crude oil forced to decline at the beginning of the week after it rose last week despite the pessimism that seen in markets after the ISDA said that a credit event occurred after Greece forced private investors to have losses, a move that made Fitch rating agency downgrade Greece’s rating to “restricted default”.
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Analysis | Commodity Market Commentaries |
Written by ICN.com |
Mon Mar 12 12 04:41 ET
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Gold ended last week with slight gains, recovering some of the huge losses incurred a week earlier, where the metal rebounded sharply on Friday after reaching a low of $1677.10 per ounce as more investors started to hold more of the shiny metal as a hedge against uncertainty after the International Swaps and Derivatives Association (ISDA) declared a "credit event" trigger by Greece.
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Analysis | Commodity Market Commentaries |
Written by Alaron |
Fri Mar 09 12 10:55 ET
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In the battle over speculation, I truly believe that many do not understand what is going on. Perhaps it is the word “speculation” that is causing some of the confusion. When the word “speculator” is used it conjures up the images of Wall Street Fat Cats in a sushi filled room hatching evil, deceptive plans to corner a market and doom us all. The truth is that the only reason the economy exist is because we have people who are willing speculate because it carries considerable financial risk with the hopes of making a profit.
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Analysis | Commodity Market Commentaries |
Written by BullionVault |
Fri Mar 09 12 10:53 ET
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Gold Prices dropped over $20 per ounce in less than an hour Friday lunchtime in London, while stocks rallied along with the US Dollar immediately following the release of monthly US jobs data.
Dollar Gold Prices fell over 1% to below $1680 per ounce, while Silver Prices fell to $33.25 per ounce, while other commodities were relatively flat on the day.
Government bond prices meantime fell along with the Euro Friday morning, after news on Thursday night that Greece's bond swap should go ahead successfully.
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Analysis | Commodity Market Commentaries |
Written by ICN.com |
Fri Mar 09 12 05:49 ET
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As this week comes to an end, metals gained slight momentum despite the strengthening U.S. dollar; however, gold gained the most so far while other metals are weak and could reverse to the downside during the session today affected by the strong dollar and as investors are still weighing the Greek debt swap deal, awaiting the critical U.S. jobs report during the New York session.
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Analysis | Commodity Market Commentaries |
Written by ICN.com |
Fri Mar 09 12 05:47 ET
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Crude oil is consolidating at opening levels and holding the gains supported by the upside momentum from the successful debt swap deal. Eyes now headed into the decision whether a credit event is triggered ahead of the key U.S. jobs report.
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Analysis | Commodity Market Commentaries |
Written by Alaron |
Thu Mar 08 12 10:55 ET
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Hope that Greek bondholders will accept an offer that is just too good to refuse turned the commodity markets around on its ear. Markets that were acting quite toppy got a new lease on life as the odds were raising that indeed investors might go for a swap-o-rama. Throughout the day the market tried to ignore a very strong ADP Employment report and a mixed EIA petroleum report yet it was that old Greek hopium play that gave the commodity bulls a new life. According to Bloomberg News investors with about 60 percent of the Greek bonds eligible for the nation’s debt swap have so far indicated they’ll participate in what will be the biggest sovereign restructuring in history. Still it is not totally a done deal as the target of 70% participation has yet to be achieved.
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Analysis | Commodity Market Commentaries |
Written by BullionVault |
Thu Mar 08 12 10:33 ET
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Dollar prices to Buy Gold were struggling to stay above $1700 an ounce Thursday lunchtime in London, following the latest monetary policy announcements from the Bank of England and European Central Bank.
Silver Prices meantime were hovering around the $34 an ounce mark Thursday lunchtime.
Earlier in the day, gold, silver, the Euro, stocks and commodities all rallied in early European trading, as reports suggested that enough Greek bondholders should agree to the bond swap by this evening's deadline. The bond swap would see private sector creditors take losses estimated at some 70%.
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Analysis | Commodity Market Commentaries |
Written by ICN.com |
Thu Mar 08 12 05:45 ET
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The countdown has finally come to an end and now dear readers we are on the verge of the critical rate decisions awaited from the Bank of England, the European Central Bank and the Bank of Canada, which has in result added strength to the shiny metal to gain more momentum today and to extend the gains as more investors are demanding the metal now as a hedge against uncertainty before the mentioned rate decisions and also as the deadline for the Greek debt-swap deal ends today.
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Analysis | Commodity Market Commentaries |
Written by ICN.com |
Thu Mar 08 12 05:25 ET
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Crude oil maintained its yesterday upside rally correcting past losses that achieved at the beginning of the week, as hopes in Europe is helping the upside momentum to push crude upwards along with slight rising in US stockpiles, neglecting all other negative factors.
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Analysis | Commodity Market Commentaries |
Written by Alaron |
Wed Mar 07 12 10:33 ET
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Oh sure the market would like to focus on something so mundane as supply and demand but of course if we did that we would not be doing justice to the real market dynamics. Can talks with Iran stop a war or an Israeli attack against Iran and their budding nuclear ambitions? While the rest of the commodity complex frets about the fate of Greek bondholders, the oil market and oil consumers are still preparing for the possibility of war. Countries around the globe move to secure supply and look for alternatives to Iranian oil as embargoes and international pressure makes Iran oil look less attractive. So when we see even the slightest ray of hope that war can be averted, we seem to calm down if only for a couple of hours.
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Analysis | Commodity Market Commentaries |
Written by BullionVault |
Wed Mar 07 12 10:31 ET
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BOTH THE wholesale silver and Gold Price rallied from 6-week lows Wednesday morning in Asian and London, recovering 2.1% and 1.0% respectively as world stock markets also bounced.
Crude oil recovered from a 2-week low at $105 per barrel, but the European single currency failed to hold an early rise ahead of Thursday's Greek debt-restructuring deadline.
Germany today reported a sharp drop in new factory orders, down almost 5% year-on-year in January.
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Analysis | Commodity Market Commentaries |
Written by ICN.com |
Wed Mar 07 12 04:40 ET
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Crude oil struggles today after huge losses that achieved yesterday amid fears and concerns that covered financial markets ahead of Greece’s debt swap deal which will be held tomorrow, where investors are worried as not enough approvals from private sector will take the country into an orderly default.
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Analysis | Commodity Market Commentaries |
Written by ICN.com |
Wed Mar 07 12 04:38 ET
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Gold declined sharply yesterday after the downbeat growth report from the euro-area region, where markets extended the losses during last session after investors tended to avert as much risk as possible and headed towards the low yielding U.S. dollar for risk aversion, the thing that brought huge losses to other currencies and commodities, leaving investors with no choice but liquidating gold positions in order to cover the widely-spread losses.
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Analysis | Commodity Market Commentaries |
Written by Alaron |
Tue Mar 06 12 10:49 ET
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It appears that a lot of the near term trends in the commodities markets are changing. Grains look a bit toppy ahead of the agriculture report and meats have retreated in a big way. Commodity currencies seem to be falling; gold, silver, copper and platinum seem to be giving in to slowing demand fears. But oil mostly seems to be bucking the trend or trend change anyway. After contemplating the lower growth target for China and the continuing uncertainly still coming out of Europe, many commodity bulls are starting to throw in the towel. With crude oil though, the threat of war still overhangs the market place and it should hold up better than the rest of the complex.
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Analysis | Commodity Market Commentaries |
Written by BullionVault |
Tue Mar 06 12 10:48 ET
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Gold Bullion prices fell to a six-week low of $1682 per ounce Tuesday lunchtime in London - a 1.8% drop on Friday's close - as stocks, commodities and the Euro continued recent losses and uncertainty hung over recent European agreements.
Silver Bullion dropped to $33.14 per ounce this morning - a 4.8% loss since the start of the week.
"We remain bearish so long as we remain below...the breached uptrend, currently at $1768," says the latest note from technical analysts at Gold Bullion dealing bank Scotia Mocatta.
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Analysis | Commodity Market Commentaries |
Written by ICN.com |
Tue Mar 06 12 04:53 ET
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Crude oil struggles for the second day with high volatility in its trading, where fears and concerns remain evident on the Iranian issue as Israeli PM met yesterday with U.S. President but with no signs of any military intervention at the current time, which relieved tension on global oil supplies.
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Analysis | Commodity Market Commentaries |
Written by ICN.com |
Tue Mar 06 12 04:52 ET
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With the start of the another session this week, the shiny metal is still biased to the downside and could extend the downside movement today, where the metal was affected sharply by the Chinese announcement of cutting growth forecasts for 2012 by 0.5%, easing inflationary pressures as the expansion in China is losing momentum and in result eased demand for gold as a hedge against inflation.
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Analysis | Commodity Market Commentaries |
Written by Alaron |
Mon Mar 05 12 10:37 ET
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The crude oil market is getting a bit of a break on slower growth expectations coming out of China and a slowdown in the march towards war. President Obama blustered a warning of his own saying loose talk of war could actually help Iran. The fears driving oil prices could put more money in Iran’s pockets making sanctions less effective. The President said that, "Over the last few weeks such talk has only benefited the Iranian government by driving up the price of oil, which they depend on to fund their nuclear program." "For the sake of Israel's security, America's security and the peace and security of the world, now is not the time for bluster."
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Analysis | Commodity Market Commentaries |
Written by BullionVault |
Mon Mar 05 12 10:19 ET
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Gold Prices briefly fell back below $1700 per ounce for the second time in a week during Monday morning's London trade, as stocks, commodities and the Euro all dipped lower before recovering some ground.
Silver Prices dropped to $34.06 per ounce - 2.2% down on Friday's close - before making up some of the loss.
Gold Prices did manage to stay above last week's low of $1691 per ounce. Gold Prices fell by $100 an ounce last Wednesday following Fed chairman Ben Bernanke's appearance before Congress.
"We would expect fresh liquidation of long gold positions on a move below $1690," says the latest technical analysis from bullion bank Scotia Mocatta.
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