Gold and Silver both registered declines, with silver dropping for a third consecutive day, its worst run since January. Silver future last settled in at USD $ 41.295 an ounce, declining by 3.03 percent. Gold future fell by 0.46 percent to USD $ 1533.30 an ounce. The decline in silver was due to the Comex’s…Read more
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Crude Oil Price Update- Oil Declines Due to Rising Stockpile Levels and Economic Slowdown
Oil prices fell for a third consecutive day on reports about rising crude stockpiles and a slowdown in economic growth. This was the longest losing streak for oil since the Japan earthquake in March. WTI crude futures fell by 0.31 percent to USD $ 110.70 per barrel. Brent crude futures fell by 0.28 percent to…Read more
Crude Oil Price Update-Bin Laden’s Death and Cooling of US Manufacturing Sector Lead to Price Fall
Oil dropped yesterday, on account of news about Osama bin Laden’s death and data showing that manufacturing had cooled in the US in April. At the market closure, WTI crude future was at USD $ 112.89 a barrel, registering a decline of 0.55 percent. Brent crude future declined by 0.44 percent to be at USD…Read more
Crude Oil Price Updates: 7 reasons you should short oil now.
With the uncertainty around US economy, the 10% drop in sales and industrial production in Japan, the tightening in China, inflation in India and the Euro crisis in Western Europe, the only growth story in 2011 will be Germany. That does not justify the build up in demand gap we have all been talking about for the next 2 – 3 years. And while Japan may face a shortfall of 10MW the increased consumption in fuel oil required by Japan over the rebuilding phase is adequately covered by the excess production capacity within both OPEC and non-OPEC members.
Crude Oil Updates:7 reasons why you need to short oil now…
7 reasons why should oil head lower? Let’s start with the reasons why you shouldn’t listen to me. I have had a known and well declared bearish bias on oil. Sort of like Abey Cohen on equities when everyone else was bullish and vice versa…I am not an active trader or an analyst, I just…Read more
Impact of Osama Bin laden’s Death on Commodities’ Markets
Today’s breaking news about Osama bin Laden being killed in the Pakistani city of Abbottabad has taken the world by surprise. The leader and main face of al-Qaeda, bin Laden was instrumental in the spread of Jihadi outfits throughout the world. His death might be nothing more than a symbolic victory in the short-run, considering…Read more
Exchange Rate Update-USD Advances Against Major Currencies After Bin Laden’s Death
The US Dollar gained advances against all the major currencies of the world, after Barrack Obama declared in a press conference that the leader of the AL-Qaeda, Osama bin Laden, has been killed in Pakistan. The USD-JPY exchange rate rose by 0.4064 percent to its value of 81.5220. The Euro-USD exchange rate dropped by 0.2006…Read more
Gold and Silver Price Update- Prices Fall as Demand for Precious Metals Declines
Gold and silver both fell, as news about the mastermind of the 911 terror attacks, Osama bin Laden being killed in Pakistan spread in the market. Gold future fell by 0.39 percent to USD $ 1550.30 an ounce. The news about Bin laden’s death brought about an increase in the stock indexes in all the…Read more
Crude Oil Price Update-Oil Falls On News of Bin Laden’s Death
Oil prices fell today, after the US President, Barrack Obama, announced that the leader of the Al-Qaeda, Osama Bin Laden, has been killed while hiding in a safe house outside Islamabad in Pakistan. WTI crude future dropped by 0.91 percent to be at USD $ 112.89 a barrel, while Brent crude future dropped by 0.70…Read more
Gold and Silver Price Update- Precious Metals Continue Their Increasing Streak
Gold advanced to USD $ 1556.40 an ounce, as the Fed’s continuing policy of maintaining record low levels of interest rates depreciated the Greenback even more. With the Dollar Index falling for a ninth consecutive day, more investors are rushing towards investing in the precious metal, since the depreciation of the dollar is reducing the…Read more