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Energy and Precious Metals Commentaries
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Analysis | Commodity Market Commentaries |
Written by BullionVault |
Wed Apr 25 12 08:59 ET
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Gold Prices recovered a swift drop to trade absolutely flat on the day London lunchtime on Wednesday at $1642 per ounce, also unchanged from the end of last week in what dealers again called "very thin...dead flat" trade ahead of today's monetary policy announcement from the US Federal Reserve.
Wholesale Silver Bullion held beneath $31 per ounce. The Euro was also unchanged after a brief rally above $1.32.
US T-bonds edged lower, nudging interest rates up, while commodities and world stock markets rose.
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Analysis | Commodity Market Commentaries |
Written by ICN.com |
Wed Apr 25 12 03:29 ET
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Gold steady above $1640 an ounce on Wednesday trading before the Fed's two-day meeting starting today. Yesterday, gold prices were boosted by the rise in equities after upbeat earnings, yet the main focus today will shift to the Fed statement on monetary policy which will include the latest growth, unemployment and inflation forecast later in the week.
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Analysis | Commodity Market Commentaries |
Written by ICN.com |
Wed Apr 25 12 03:00 ET
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Crude oil continues to trade narrowly within a sideways range, yet slightly biased to the upside ahead of the EIA crude oil inventories report and also ahead of the growth data from the United Kingdom and the Federal Open Market Committee (FOMC) rate decision.
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Analysis | Commodity Market Commentaries |
Written by Alaron |
Tue Apr 24 12 09:09 ET
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Natural gas pops on a last blast of snow and cold at the end of April. A nor'easter seemed to give natural gas bulls hope that perhaps a bottom may be in for natural gas or perhaps it is just a snow job. As tempting as it might be to believe in a bottom, the truth is that it's unlikely that this last blast of winter can offer any real long term support to the natural gas market. Despite the fact that the storm dumped as much as 10 inches of snow in some cities and knocked out power in others it is still too little too late to save this poor market.
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Analysis | Commodity Market Commentaries |
Written by BullionVault |
Tue Apr 24 12 08:45 ET
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Gold Prices rallied to $1643 per ounce by Tuesday lunchtime in London - 1.2% up on yesterday's low, but still shy of where they closed last week - ahead of tomorrow's Federal Reserve decision and with Eurozone concerns focusing on the Netherlands.
Based on the PM London Gold Fix, Gold Prices remain 3% below their 200-day moving average.
Silver Prices rallied back above $31 an ounce by Tuesday lunchtime - though they remained around 2% off where they began the week - while European stock markets edged higher following Monday's steep drop and commodities also made gains this morning.
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Analysis | Commodity Market Commentaries |
Written by ICN.com |
Tue Apr 24 12 03:31 ET
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Gold continued its drop on Tuesday trading for the eighth consecutive session on political worries from Europe and ahead of important U.S. data and Fed statement. In France, the main focus is on the French elections amid concerns the result may hamper European officials' efforts to ease the debt crisis, where the advance of the socialist candidate is raising concerns regarding France's commitment to austerity measures
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Analysis | Commodity Market Commentaries |
Written by ICN.com |
Tue Apr 24 12 03:30 ET
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Crude oil hovers around the opening level after it seen heavy fluctuations yesterday as it declined sharply then it retraced to correct some of these losses. This downside pressure on crude derived from uncertainty in Europe and the stronger dollar.
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Analysis | Commodity Market Commentaries |
Written by Alaron |
Mon Apr 23 12 09:53 ET
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The left is going loony in their quest to try to gain control of everything that they haven't already got their greedy little hands on. Their paranoia over rising oil and gas prices has started an irrational attempt to blame the free markets and capitalism as opposed to the failure of this administration to understand the technology revolution that is transforming American energy.
The latest laughable attempt to blame oil speculators for he price increase in gas comes from none other than the ill tempered ego maniac Keith Olbermann who claims that traders are increasing prices on purpose to sink Obama. This fantasy that speculators are responsible for the increase in oil price is utter nonsense and anyone that tells you otherwise does not know the facts.
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Analysis | Commodity Market Commentaries |
Written by BullionVault |
Mon Apr 23 12 08:10 ET
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Gold Bullion prices fell to $1630 per ounce during Monday morning's London trading - 2.3% down on where they started the month - while stock markets and industrial commodities also sold off following the release of preliminary Chinese manufacturing data.
"Gold remains in a short-term bear channel," say technical analysts at bullion bank Scotia Mocatta.
"We would expect a test of support from the long-term uptrend...[which] comes in around $1600."
Silver Bullion dropped to near 3-month lows, hitting $31.09 per ounce ahead of the US session.
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Analysis | Commodity Market Commentaries |
Written by ICN.com |
Mon Apr 23 12 04:16 ET
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Gold continued its drop on Monday trading for the seventh consecutive session after the breach of support of $1640 an ounce and as the dollar rebounded before the release of important data and Fed statement this week.
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Analysis | Commodity Market Commentaries |
Written by ICN.com |
Mon Apr 23 12 04:14 ET
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Crude oil declines at the beginning of the week despite better manufacturing in China that signals for good recovery pace in the second quarter. However, the commodity remain highly traded due to fears over Iranian oil supplies and better confidence figures from Germany which helped in pushing crude higher on Friday.
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Analysis | Commodity Market Commentaries |
Written by Alaron |
Fri Apr 20 12 10:17 ET
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Oil prices are rising early Friday and there is better than expected data from Germany and Microsoft, yet in the big picture, there are those that are saying that oil prices have risen in recent months not due to speculation but what we should call “precautionary demand”. According to Dow Jones U.S. sanctions against Iran are hurting growth in that country and creating "precautionary demand" for oil, which is part of the reason oil prices remain at current high levels according to Caroline Freund, the World Bank's chief economist for the Middle East and North Africa.
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Analysis | Commodity Market Commentaries |
Written by BullionVault |
Fri Apr 20 12 09:33 ET
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Gold Prices dipped as low as $1640 per ounce - less than 1% off the previous day's high - during Friday morning's relatively flat London trading.
European stock markets were also broadly flat, as were commodities, while government bond prices ticked lower.
"Overall, the price action since the February high of $1790 has been quite weak," says the latest technical analysis from Gold Bullion dealing bank Scotia Mocatta.
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Analysis | Commodity Market Commentaries |
Written by ICN.com |
Fri Apr 20 12 03:52 ET
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Crude oil pushed lower today after yesterday’s pessimism from Europe and U.S. that pushed the commodity sharply to the downside, where it couldn’t find any factor that is strong enough to halt this downside pressure.
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Analysis | Commodity Market Commentaries |
Written by ICN.com |
Fri Apr 20 12 03:35 ET
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Gold remains under pressure for the fifth session, heading for a weekly decline, on worries stemming from the euro area and after downbeat U.S. data. Investors focus is still on the tensions from the euro area amid mounting speculations Spain and Italy will eventually ask for international bailouts after the rise in their borrowing cost to unsecured levels this week.
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Analysis | Commodity Market Commentaries |
Written by Alaron |
Thu Apr 19 12 09:27 ET
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Oil price took a hit as oil inventories rose much more than expected and fears of a euro bond flop permeated the marketplace.
The Energy Information Administration set the negative tone by reporting U.S. commercial crude oil inventories increased by 3.9 million barrels from the previous week. At 369.0 million barrels, U.S. crude oil inventories are in the upper limit of the average range for this time of year. Total motor gasoline inventories decreased by 3.7 million barrels last week and are in the upper limit of the average range.
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Analysis | Commodity Market Commentaries |
Written by BullionVault |
Thu Apr 19 12 09:26 ET
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PRICES to Buy Gold dropped near two-week lows for US investors Thursday lunchtime in London, as gold again "fell victim to a strengthening Dollar" in the words of one analyst.
The European single currency fell back from $1.3150 for the 3rd day running, dropping despite Spain's successful auction of €5 billion in new government debt, albeit at marginally higher rates of interest than at the last time of asking.
France's CAC40 stock index turned a 0.5% rise into a 0.5% loss inside an hour, and commodity prices also fell back amid trading-room rumors that France's credit rating was about to be downgraded by a major agency.
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Analysis | Commodity Market Commentaries |
Written by ICN.com |
Thu Apr 19 12 03:49 ET
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Crude oil declined sharply yesterday on rising U.S. oil inventories for the fourth consecutive week signaling that demand in the world’s biggest oil consumer is getting weaker every single day. However, the commodity fluctuates today ahead of the sentiment test that would be implemented by Spain in today’s long term auction.
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Analysis | Commodity Market Commentaries |
Written by ICN.com |
Thu Apr 19 12 03:41 ET
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Gold remains under pressure for the fourth consecutive session on Thursday trading before the Spanish government auctions 2.5 billion euros in two- and 10-year notes later in the day. The auction will be carefully watched amid the heightened tensions stemming from Spain's fiscal and banking sector problems which raised speculations the debt crisis will be reignited.
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Analysis | Commodity Market Commentaries |
Written by Alaron |
Wed Apr 18 12 08:54 ET
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The US oil market is now coming under a threat that may be the most egregious form of market manipulation ever. Yet if you think that near record participation in the market by oil speculators are the risk, then think again.
The US oil markets are coming under threat by a faltering Obama administration who is desperately trying to assign blame to the recent increase in oil prices. Their response is to demonize all speculators and to grant the Commodity Futures Trading Commission new powers and change their job from a market regulator to a market manipulator.
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