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Energy and Precious Metals Commentaries
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Analysis | Commodity Market Commentaries |
Written by Crown Forex |
Thu Feb 26 09 05:07 ET
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Yesterday, the black gold market witnessed a considerable incline in its crude prices, after that the U.S Energy Information Administration reported a drop in gasoline inventories, illustrating therefore that the demand on energy in the U.S, the top oil consumer country, is starting to strengthen despite the significant fall in equities market
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Analysis | Commodity Market Commentaries |
Written by Easy Forex |
Wed Feb 25 09 22:31 ET
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Gold (XAU) continued to fall as Bernanke's second day of speeches eased gold demand. Overall trading with a low of USD$944 and high of USD$978 before ending the New York session at USD$952 an ounce.
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Analysis | Commodity Market Commentaries |
Written by Alaron |
Wed Feb 25 09 10:30 ET
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Did you ever wonder who might be the world's biggest energy speculator? Now let me see, might it be T. Boone Pickens? Or perhaps it might be Prince Alaweed of Saudi Arabia. Maybe it is one of those big fund traders, you know, the ones that can allegedly control the price of oil on a whim. Well if that is what you think, you are wrong.
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Analysis | Commodity Market Commentaries |
Written by BullionVault |
Wed Feb 25 09 10:02 ET
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Gold and silver traded slightly lower in Asia and London on Tuesday before they rose at the New York opening.
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Analysis | Commodity Market Commentaries |
Written by Finotec |
Wed Feb 25 09 05:49 ET
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Crude oil was little changed near $40 a barrel after falling on signs that the deepening economic recession in Asia will cut fuel demand. Crude had declined as much as 1.4 percent today after Japan, the world's third-largest oil consumer, reported exports slumped 46 percent in January from a year earlier. The country's carmakers also said their overseas sales declined. A U.S. government report may show crude inventories rose last week. Crude Oil is trading at $40.10 as of 9:30am, GMT.
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Analysis | Commodity Market Commentaries |
Written by Finotec |
Wed Feb 25 09 05:48 ET
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Gold was little changed after slumping the most in six weeks yesterday as U.S. stocks advanced after Federal Reserve Chairman Ben S. Bernanke's statement that banks need not be nationalized. Gold traded at $964.55 an ounce, down 4.1 percent from its 11-month high of $1,006.29 on Feb. 20. Asian shares rallied from a five-year low, reducing investor concern that the value of financial assets may be eroded. Asian selling and European buying are keeping gold in a tight range, said John Reade, a metals strategist at UBS AG in London. Gold is trading at $957 as of 9:35am, GMT.
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Analysis | Commodity Market Commentaries |
Written by Crown Forex |
Wed Feb 25 09 04:34 ET
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Yesterday, crude prices inclined on optimism gained in the black gold market as the U.S Federal Reserve Chairman Ben Bernanke declared to the public that he was devoted to ease the downside pressures of the crisis that affected the banking sector deeply during this past period and as the U.S President gave a new speech of hope, declaring that the United States will be led out of the recent recessional phase, whether its now or later.
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Analysis | Commodity Market Commentaries |
Written by Crown Forex |
Wed Feb 25 09 03:32 ET
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The precious metal recoiled today to $956.88 an ounce paring its previous gains when it hit 11-month high to $1006.29 on February 20. The decline was led by optimism after Bernanke's announcement on Tuesday that there will be no need to nationalize banks. After the statement, Wall Street the previous day rebounded from 12-year low and its Asian peer edged up from five-year low.
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Analysis | Commodity Market Commentaries |
Written by Easy Forex |
Tue Feb 24 09 22:42 ET
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Gold (XAU) fell back sharply after Bernanke poured cold water on banking nationalization plans. The failure to break $1000 convincingly also inspired profit taking. Overall trading with a low of USD$959 and high of USD$995 before ending the New York session at USD$962 an ounce.
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Analysis | Commodity Market Commentaries |
Written by Alaron |
Tue Feb 24 09 10:25 ET
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Another sign that OPEC is defying its own nature by adhering to production cuts and another sign that the market somehow just does not care. Bloomberg News reported that PetroLogistics, the tanker tracking firm, says that OPEC is actually complying with the majority of their agreed upon production cuts.
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Analysis | Commodity Market Commentaries |
Written by BullionVault |
Tue Feb 24 09 09:54 ET
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The Gold Price fell as much as $23.85 to $975.35 by the Wall Street opening on Monday, but it then stormed back - hitting $998.05 in late trade - as the major stock market indices slumped.
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Analysis | Commodity Market Commentaries |
Written by Finotec |
Tue Feb 24 09 05:59 ET
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Gold traded little changed as global stocks tumbled, sending the Asian regional benchmark toward a five-year low, on concern a deepening recession is hurting company earnings. 'Gold experienced profit-taking and long liquidation,' said Walter de Wet, an analyst at Standard Bank Ltd. in Johannesburg. 'However precious metals remain well supported by macro-economic turmoil and tumbling global equities.' Gold is trading at $987 as of 9:30am, GMT.
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Analysis | Commodity Market Commentaries |
Written by Finotec |
Tue Feb 24 09 05:57 ET
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Crude oil fell for a third day on speculation that U.S. stockpiles increased as the global recession saps fuel demand. U.S. crude oil inventories dropped in the week ending Feb. 13 as the country's imports fell 8.9 percent to 8.7 million barrels a day, the lowest since September. The 11 OPEC members with quotas, all except Iraq, reduced output by 3.8 percent to 25.3 million barrels a day in February, according to consultant PetroLogistics Ltd. of Geneva. Crude Oil is trading at $38.17 as of 9:25am, GMT.
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Analysis | Commodity Market Commentaries |
Written by Crown Forex |
Tue Feb 24 09 04:38 ET
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Crude prices fell yesterday as the overall outlook of economies is dull; having further depressing news and an incline of losses witnessed through the productivity reports of major companies around the world, suggesting therefore that the demand on energy will remain plunging. For instance, the Campbell Soup Co reported that its second-quarter profit slumped by 15 percent and Standard & Poor's 500 index fell to its lowest level in nearly 12 years. Consequently, crude prices closed at $38.44 a barrel recording a high of $41.49 per barrel and a low of $37.87 per barrel along with a significant $1.59 shed witnessed in the oil contract.
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Analysis | Commodity Market Commentaries |
Written by Crown Forex |
Tue Feb 24 09 03:10 ET
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The shiny metal retreated on Tuesday to $990.50 an ounce paring its prior gains when the metal rose to $1006.29 on February 20. Speculators booked profits after the sharp incline the metal witnessed in the past few weeks. However, the metal is expected to rise again amid the worsening economic conditions worldwide.
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Analysis | Commodity Market Commentaries |
Written by Easy Forex |
Mon Feb 23 09 23:01 ET
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Gold (XAU) weakened with banking risk easing slightly on the back of speculation further government capital is on the way for US banks. Overall trading with a low of USD$976 and high of USD$997 before ending the New York session at USD$990 an ounce.
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Analysis | Commodity Market Commentaries |
Written by BullionVault |
Mon Feb 23 09 11:01 ET
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Gold slipped to $980 an ounce early Monday, dropping 2.5% from Friday's peak above $1,000 as world stock markets crept higher for the first time in 10 sessions. Versus the Euro and British Pound, the Gold Price retreated more than 4.2% as the Dollar also eased back on the currency markets.
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Analysis | Commodity Market Commentaries |
Written by Alaron |
Mon Feb 23 09 10:12 ET
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It was good old fashioned fear that consumed trading on Friday. Gold soared to over $1000.00 an ounce in anticipation of more bad news. The market was convinced that another shoe was about to drop and that drop they thought could be the failure of Citibank. Citigroup shares fell below $2 a share which was an 18 year low causing angst among the investors in the market place.
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Analysis | Commodity Market Commentaries |
Written by Finotec |
Mon Feb 23 09 05:34 ET
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Gold declined in Asia as some investors sold the metal to lock in gains after it rallied above $1,000 an ounce last week for the first time in almost a year. The cost of fiscal stimulus packages and a decline in tax revenues because of the global recession has left investors worried about 'currency debasement and the possibility of higher long-term inflation,' John Reade, UBS AG analyst, said in a report. 'We believe that it is these fears that have triggered the recent surge of investment flows into gold.' Gold is trading at $989 as of 9:10am, GMT.
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Analysis | Commodity Market Commentaries |
Written by Finotec |
Mon Feb 23 09 05:33 ET
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Crude oil rose above $40 a barrel in New York after Asian equity markets gained on signs the U.S. government is taking steps to prevent further bank failures, preventing the recession from deepening. The Organization of Petroleum Exporting Countries may decide to make another production cut should oil prices continue to fall, Chakib Khelil, the Algerian oil minister and former OPEC president, said yesterday. Crude Oil is trading at $40.075 as of 9:05am, GMT.
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