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Oil N' Gold Focus Reports
Sentiment Upbeat amidst Expectations of Prolonged Accommodative Environment. Yellen in Jackson Hole under Spotlight Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Fri Aug 22 14 00:03 ET
Upbeat market sentiment continued to pressure gold, sending the benchmark Comex contract to a 2-month low of 1273.4 before recovering to 1275.4, -1.53%, at close. Crude oil prices climbed higher on encouraging US economic data. Data in the US exceeded market expectations but investors anticipated Fed Chair Janet Yellen to deliver dovish comments at her Jackson Hole speech.
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Gold Declined as Fed Appeared More Hawkish Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Thu Aug 21 14 02:01 ET
Gold remains under pressure with price falling for a 5th consecutive day. Hawkish FOMC minutes are a key cause for the latest decline, sending the benchmark Comex contract to a 2-week low of 1285.2 today after closing at 1295.2 yesterday. The minutes indicated that policymakers discussed in details the exit strategies, raising speculations of earlier rate hikes after QE tapering ends.
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Soft Inflation Data may Keep Global Interest Rates Low for Longer Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Wed Aug 20 14 00:49 ET
Stock markets continued to strengthen as benign inflation reports in both the US and the UK raised hopes that monetary easing should stay longer. Improved market sentiment also suggested that geopolitical tensions have now taken a backseat. Wall Street gained with the DJIA and the S&P 500 rising +0.48% and +0.50% respectively.
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China Approves Three More Lenders to Import Gold Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Tue Aug 19 14 06:39 ET
Gold price stabilized ahead of US opens with the benchmark Comex contract moving marginally above 1300. Risk of the price is to the downside at least in the near-term as safe-haven demand of the metal diminished as geopolitical tensions between Russia and Ukraine, and the crisis in Iraq have shown signs of easing.
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Sentiment Improved as Russia and Ukraine Entered Talk. Commodities Plunged Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Mon Aug 18 14 23:45 ET
Brent crude slumped as the latest news showed further eases in geopolitical tensions in both Ukraine and Iraq. While Russia and Ukraine agreed to negotiate over ceasefire, the US has helped Kurdish-Iraq forces regain the Mosul dam from Islamic State forces. The front-month Brent crude contract plunged to a 14-month low of 101.11 before recovering to 101.60, -0.4%, at close.
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Pound Rallies on Carney's Comments. Focus on US This Week Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Mon Aug 18 14 00:30 ET
Commodities begin the week with a modestly soft tone as geopolitical tensions show signs of easing with Ukraine and Russia meeting for talks. In Iraq, Kurdish forces are expected to regain control of the country's largest dam, the Mosul Dam, from Islamic State militants in "just a matter of time".
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Weekly Fundamentals - Brent Crude Term Structure Reveals Concerns over Supply and Demand Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Sun Aug 17 14 06:51 ET
Crude oil prices fell last week as concerns that geopolitical tensions would disrupt oil supplies diminished and global demand forecasts were revised lower. The front-month contract for WTI crude oil dropped -0.31% and that for the Brent crude contract fell -1.42%, resulting in the narrowing of the WTI-Brent spread during the week.
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Crude Oil Slumped as Geopolitical Tensions Eased Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Fri Aug 15 14 00:10 ET
Crude oil prices slumped amidst diminished geopolitical tensions. Comments from Russia President Putin that he would not seek conflict with the outside world as he strives to build up the country calmed investors' nerves as eased their concerns that Russia's retaliatory actions would hurt oil supply or global economy.
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Gold Demand Fell in 2Q14, Official Buying Remained Resilient Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Thu Aug 14 14 07:01 ET
Gold remained firm in European session with the benchmark Comex contract approaching 1320. The latest report from the World Gold Council showed that gold demand in 2Q14 fell -16% y/y to 963.8 tonnes as driven by sharp decline in jewelry demand and purchases of bars and coins. Jewelry demand slumped -30% to 509.6 tonnes.
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Disappointing Economic Data Raised Hopes that Monetary Easing Would Stay Longer Print E-mail
ONG Focus | Insights | Written by Oil N' Gold | Wed Aug 13 14 23:10 ET
Soft retail sales in the US sent Wall Street higher, only because it might lead the Fed to remain on hold for a little longer. Wall Street gained with the DJIA and the S&P 500 indices rising +0.55% and +0.67% respectively.
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