Oil prices fell for a third consecutive day after being unable to overcome price resistance levels. WTI fell by 0.25 percent to USD $ 105.14 a barrel, while Brent fell by 0.10 percent to USD $ 115.48 a barrel. The fall in prices could also be attributed to fears about the sovereign debt of the…Read more
Gold and Silver Price Update. News About Good Economic Growth Leads Investors to Seek Riskier Investments
Gold and silver prices fell on Friday, the 25th of March 2011, following revelations about a positive response of the US Economy which led to investors seeking riskier investments. Spot gold was at USD $ 1427.60 an ounce, slightly decreasing by 0.61 percent from its price on Thursday. The news about the US economy…Read more
Crude Oil Price Update. Turbulent Week Ends With Oil Prices Steadying Down.
After a turbulent week, during which oil prices rocketed between highs and lows, the prices steadied down on Friday, the 25th of March 2011. Brent crude for May delivery rose by 20 cents to USD $ 115.92 a barrel, while WTI crude future was at USD $ 105.40 a barrel. During the week, oil prices…Read more
Gold and Silver Price Update. Bullish expectations about gold in the short-run.
Gold prices continued to escalate, following the civil war in Libya, the debt crisis in the European Union regarding Portugal and the aftermath of the earthquake and tsunami in Japan. Collectively, all of these factors are making investors have bullish expectations about gold in the coming days, viewing it as a perfect hedge against rising…Read more
Crude Oil Price Update. Weak US Economy Outlook Reducing Prices
Oil futures fell yesterday and traded at a two-day low. Crude for May delivery at NYMEX fell to USD $ 105.60 a barrel, falling by 15 cents. At the time of market closure, Brent was priced at USD $ 114.68 a barrel, WTI was at USD $ 105.60 a barrel, while West Texas Sour was…Read more
Gold and Silver Price Update. Possible Bailout of Portugal and the Military Intervention in Libya
Gold is nearing record high price levels, following reports about a rise in Portugal’s sovereign debt and a possible bailout of the country by the European Union. In the Singapore market, immediate delivery of gold gained 0.2 percent and traded at USD $ 1439.53 an ounce, whereas the April-delivery contract in New York was at…Read more
Crude Oil Price Update- Fear Premium Main cause of Escalated price fears.
Oil prices peaked close to a 30-, month high in the market on Wednesday, as the US and other Western Allies continued bombing pro government forces in Libya. The market closed with Brent at USD $ 115.17 a barrel, WTI at USD $ 105.25 a barrel and West Texas, Sour Midlands at USD $ 101.50…Read more
Gold Price Update. Growing Demand for Gold Due to Inflationary fears
Gold prices remained high today, on the 22nd of March 2011, due to gold’s continuing appeal as a safe-haven in light of the growing unrest in the Middle East and concerns about a nuclear catastrophe erupting in Japan. Spot gold increased by 0.4 percent at USD $ 1430.45 an ounce. It is expected that in…Read more
Crude Oil Price Update. Libyan Crisis and Unrest in Bahrain the major causes of Escalated Prices.
Oil prices rallied on Monday, the 21st of March 2011 thanks to the Middle East and North Africa(MENA) Crisis. Benchmark WTI was priced at USD $ 102.33 a barrel at the time of market closure, whereas West Texas Sour, Midlands was at USD $ 98.08 a barrel. Air strikes by Western forces in order to…Read more
Crude oil and Gold Price Update-Air Strikes in Libya Increasing Prices
Oil prices increased by more than USD $ 2 today, after the Western military forces intensified their strikes on Libyan air force installments. Brent crude for May settlement rose by 2 percent to USD $ 116.22 a barrel, whereas US crude futures for April rose by USD $ 2.18 to USD $ 103.25 a barrel….Read more