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Energy and Precious Metals Commentaries
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Analysis -
Commodity Market Commentaries
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Written by ecPulse.com |
Fri Mar 12 10 06:50 ET
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Crude managed to stabilize above $82 per barrel in morning trading, supported by optimism overshadowing financial markets, where expectations are increasing of an agreement being reached regarding the health care program suggested by U.S. president Obama.
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Analysis -
Commodity Market Commentaries
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Written by ecPulse.com |
Fri Mar 12 10 05:13 ET
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The yellow metal surged on Friday as the U.S. dollar slumped against majors which enhanced demand on gold as an alternative investment. Yesterday, gold gained $1.40 or 0.13% to close at $1109.32 an ounce. Gold Price was set in London on Thursday at $1106.00 per ounce during the PM fixing inclining from $1104.00 at the AM fixing. SPDR gold trust, the world's largest exchange-traded fund backed by bullion, remained at 1,115.51 metric tons on March 11.
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Analysis -
Commodity Market Commentaries
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Written by Finotec |
Fri Mar 12 10 02:12 ET
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Oil has rallied over the past week but the physical crude markets in Asia and Europe are telling a more bearish story about oversupply and sluggish demand. The contrast between the oil price, which topped $83 a barrel on Wednesday, and signs of weak physical markets might preoccupy OPEC when it meets on March 17 and raise the issue of whether markets have too much oil. 'OPEC members are very bullish but they are all focusing on the one market in the world where there is growth. How much more crude can Asia absorb?,' said a trader at an oil company. Crude oil is trading at $82.25 as of 21:15pm, GMT, with a bearish trend. Crude's Pool-position is 32% Long, meaning that most Finotec clients are selling the commodity.
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Analysis -
Commodity Market Commentaries
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Written by Finotec |
Fri Mar 12 10 02:11 ET
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Gold regained some strength on Thursday after falling the previous day, though poor technicals and failure to sustain recent gains may spur selling. Gold rose above the 50-day moving average on Thursday as bargain hunters resurfaced but it remained below the 100-day moving average, with strong Chinese inflation data triggering worries about further monetary tightening. 'We have seen investors withdraw holdings in the SPDR ETF, which has stalled the upward trend seen since the end of February,' said David Barclay, commodity strategist at Standard Chartered in Hong Kong. Gold is trading at $1,109 as of 21:00pm, GMT, with a bearish trend. Gold's Pool-position is 19% Long, meaning that most Finotec clients are selling the precious metal.
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Analysis -
Commodity Market Commentaries
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Written by Easy Forex |
Thu Mar 11 10 21:54 ET
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Oil & Gold (XAU) the $1100 level was tested in the US session before bouncing back to opening levels. Overall trading with a low of USD$1100 and high of USD$1112 before ending the New York session at USD$1109 an ounce. Crude Oil broke above the Key $82 resistance as the rally continued. Crude Oil was up $0.30 ending the New York session at $82.20.
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Analysis -
Commodity Market Commentaries
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Written by Alaron |
Thu Mar 11 10 11:25 ET
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HOT! HOT! HOT! Inflation in China may be getting too hot to handle! Don't touch or you could get burned. Could emerging China bubbles turn the commodities bull market into rubble? China's inflation rate for consumer prices came out at a much hotter than expected 2.7 percent. That was sizzling compared to Januarys 1.5 percent rise and it was also a 16 month high. This sharp increase will make Chinese officials worry about potential trouble spots and may make them more aggressive trying to battle those inflationary demons.
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Analysis -
Commodity Market Commentaries
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Written by BullionVault |
Thu Mar 11 10 08:48 ET
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Gold Prices rose as much as $6.14 to $1127.94 an ounce in London on Wednesday, before falling to see a slight loss at $1118.85 by 10:00am in New York. Rising back towards that earlier high, Gold Prices then plummeted, dropping as low as $1103.45 shortly after noon and ended with a loss of 1.3%.
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Analysis -
Commodity Market Commentaries
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Written by ecPulse.com |
Thu Mar 11 10 06:16 ET
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Crude oil throughout the Asian session on the back of a rising dollar, after the EIA report has showed persistent weakness in demand levels on oil in the U.S. Crude contracts yesterday dropped due to low refinery capacity for the first time in five weeks to 80.7%; while oil consumption last week rose by 0.2% at 19.2 million barrels per day, but still remains sluggish at 20.2 million barrels per day, according to what the EIA stated.
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Analysis -
Commodity Market Commentaries
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Written by ecPulse.com |
Thu Mar 11 10 06:15 ET
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Metals declined rapidly last night and extended the bearish move into today's session. The dollar declined slightly against the basket of six major currencies, while oil advanced slightly and nonetheless metals managed to drop.
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Analysis -
Commodity Market Commentaries
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Written by Finotec |
Thu Mar 11 10 02:02 ET
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Gold steadied on Wednesday after the euro bounced slightly higher against the U.S. dollar though weaker oil prices could prompt new selling, traders said. Dealers noted early bargain hunting from Chinese speculators but gold prices were susceptible to sharp movements due to low volumes. Platinum and palladium slipped in early trade but held near recent highs. Gold was around 2 percent below a 6-1/2-week high near $1,150 hit in early March. Several attempts to revisit a lifetime high around $1,200 struck in early December were met by heavy profit taking but steady investor interest could lend Support. Gold is trading at $1,108 as of 21:20pm, GMT, with a bullish trend.
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Analysis -
Commodity Market Commentaries
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Written by Finotec |
Thu Mar 11 10 02:01 ET
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U.S. crude oil inventories logged their sixth straight rise last week on lower refinery runs, while gasoline stocks drew down unexpectedly, according to U.S. Energy Information Administration data on Wednesday. Distillates stocks fell more than forecast. Data from the American Petroleum Institute on Tuesday showed a big jump in domestic crude stocks and big declines in refined fuels inventories last week. Tuesday's APIs showed U.S. crude inventories in the world's biggest oil consumer rose by 6.5 million barrels last week, while gasoline stocks shed 3.2 million barrels and distillates fell 2.8 million barrels. Crude Oil is trading at $82.00 as of 21:25pm, GMT, with a bullish trend.
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Analysis -
Commodity Market Commentaries
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Written by Easy Forex |
Wed Mar 10 10 22:22 ET
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Oil & Gold (XAU) slumped over $15 an ounce in the US session as Sovereign debt Credit default spreads continued to tighten. Overall trading with a low of USD$1103 and high of USD$1128 before ending the New York session at USD$1108 an ounce. Crude Oil gained on strong inventory numbers. Crude Oil was up $0.42 ending the New York session at $81.91.
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Analysis -
Commodity Market Commentaries
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Written by FastBrokers |
Wed Mar 10 10 13:14 ET
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Gold found support in our 1st tier uptrend line yesterday and has bounced back from Tuesday lows, avoiding a retest of $1100/oz in the process. Gold is now back in the middle of its present trading range as gains in the Aussie and Loonie are counterbalanced by overall weakness in the Cable and Euro. That being said, it will be interesting to see how the Cable and EUR/USD react to tomorrow’s key data sets from China, Australia and the U.S.
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Analysis -
Commodity Market Commentaries
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Written by Alaron |
Wed Mar 10 10 12:06 ET
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It looks like the API is playing catch up to the Department of Energy. A massive crude build according to the American Petroleum Institute, along with big product draws is going to keep the oil market on edge.
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Analysis -
Commodity Market Commentaries
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Written by BullionVault |
Wed Mar 10 10 12:03 ET
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Gold extended yesterday's late bounce on Wednesday morning in London, rising 1.6% from Tuesday's 7-session low vs. the Dollar as world stock markets, government bonds and commodities held flat.
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Analysis -
Commodity Market Commentaries
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Written by ecPulse.com |
Wed Mar 10 10 06:53 ET
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Crude future contracts dropped throughout morning trading for the second consecutive day before the expected release of the EIA report, which is predicted to report higher stockpiles in the US. The API yesterday stated that stockpiles rose by 6.5 million barrels last week, the sixth consecutive weekly rise in stockpiles, therefore insuring weak US demand levels.
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Analysis -
Commodity Market Commentaries
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Written by ecPulse.com |
Wed Mar 10 10 05:36 ET
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Precious-Gold inclined slightly today to $1124.20 despite the dollar's advance. The shiny metal slid in the last two sessions on speculations China will sell its gold reserves. Yesterday, gold shed $1.50 or 0.13% to close at $1121.60 an ounce. Gold Price was set in London on Tuesday at $1120.00 per ounce during the PM fixing inclining from $1115.75 at the AM fixing. SPDR gold trust, the world's largest exchange-traded fund backed by bullion, remained at 1,116.12 metric tons on March 9.
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Analysis -
Commodity Market Commentaries
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Written by Finotec |
Wed Mar 10 10 01:41 ET
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U.S. crude oil futures ended down on Tuesday, dropping from Monday's eight-week high, as the dollar's strength and forecasts that weekly inventory data would show domestic crude stocks rose pressured the market. A Reuters poll forecast that U.S. crude stocks rose 1.9million barrels last week. Gasoline stocks were seen up 200,000 barrels and distillate supplies down 900,000 barrels. Wall Street rose on weak volume as a steady drumbeat of corporate news lifted specific stocks on the anniversary of the market hitting 12-year closing lows. Crude is trading at $81.45 as of 21:30pm, GMT, with a bearish trend. Crude's Pool-position is 23% Long, meaning that most Finotec clients are selling the commodity.
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Analysis -
Commodity Market Commentaries
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Written by Finotec |
Wed Mar 10 10 01:40 ET
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Gold fell on Tuesday as a resurgent dollar amid lower risk appetite and sovereign debt worries dented investment interest in the metal. The metal recovered from session lows of $1,108.20 an ounce. However, as the U.S. currency pared gains, oil prices recovered some of their earlier losses and metal found strong buying interest at lower levels, dealers said. Fitch Ratings said on Tuesday it still has a negative outlook on Portugal's double-A ratings and was studying the details of the country's new austerity measures. Gold is trading at $1,120 as of 21:17pm, GMT, with a bullish trend. Gold's Pool-Position is 71% Long, meaning that most Finotec clients are buying the precious metal.
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Analysis -
Commodity Market Commentaries
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Written by Easy Forex |
Tue Mar 09 10 22:23 ET
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Oil & Gold (XAU) was heavy as the market digest news that China was not as bullish on gold as first thought at current levels. $1111 held well and the market bounced in the US session back above the $1120. Overall trading with a low of USD$1108 and high of USD$1124 before ending the New York session at USD$1121 an ounce. Crude Oil dipped early and then recovered later in the day as US stocks extended gains. Crude Oil was up -$0.31 ending the New York session at $81.20.
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