Gold prices registered a slight increase, in spite of the announcement of an immediate ceasefire by the Libyan government against the rebels. The persistent bullish behavior of gold can be attributed to a general lack of trust for the Libyan government’s declarations of the ceasefire. Several countries are wary of the fact that Muammar Qadhafi…Read more
Crude Oil Price Update. Announcement of Ceasefire in Libya Eases Oil Price.
Following the announcement of an immediate ceasefire by the Libyan government against the rebels in the country, oil prices fell on Friday, the 18th of March 2011. Brent oil dived immediately by USD $ 3, minutes after news about the ceasefire broke out. Brent crude for May delivery settled at USD $ 114.15 per barrel….Read more
Gold and Silver Price Update. Bullish Gold and Bearish Silver
Gold registered an increase in prices, as the worsening situation in the Middle East and the looming nuclear catastrophe in Japan pushed investors towards having bullish expectations about gold. Gold, 100 Troy Oz was priced at USD $ 1410.80 per troy ounce, increasing by 0.47%. American Eagle gold was priced at USD $ 1466.34 per…Read more
Crude Oil Price Update. Imposition of a No-Fly Zone Over Libya Resulting In A Increase in Price.
Oil prices rebounded on Thursday, the 17th of March 2011 after the United Nations (UN) passed a resolution calling for the imposition of a no-fly zone over Libya. At the time of market closure on Thursday, Brent was priced at USD $ 113.93 per barrel, WTI was at USD $ 101.42 per barrel, while West…Read more
Crude Oil Price Update. Uncertainty Leading to Emotional Trading-17th March 2011
Oil prices registered an increase on Wednesday, the 16th of March 2011, as a number of factors are causing fluctuations in the price. Brent crude closed at USD $ 110.43 per barrel, slightly rising from its price on Tuesday of USD $ 110.25 per barrel. WTI closed at USD $ 97.98 per barrel, while West…Read more
Gold and Silver Price Update-Japanese Investors Selling Gold to Deal With Earthquake Crisis
Gold and silver prices registered a fall on Monday, the 15th of March 2011 as profit taking weighed on gold. There was an increased amount of gold selling from Japanese investors wanting to raise cash to deal with the aftermath of the earthquake in the country. The selling was also being attributed to fears about…Read more
Crude Oil Price Update- Impending Nuclear Crisis in Japan Playing on Market’s Fears.
Oil prices fell sharply on Tuesday, the 15th of March 2011, following fears about a looming nuclear catastrophe in Japan. Brent crude for April delivery was at USD $ 108.52 a barrel, falling by 4.5 percent, which is its biggest percentage drop since February 4, 2010. Brent’s spot price closed at USD $ 110.25 a…Read more
Gold and Silver Price Update. Increased Demand for Gold as a Safe-Haven-15th March 2011
Gold prices moved upwards, benefitting from an increased safe-haven demand for gold due to uncertainty regarding the impact of the earthquake and tsunami in Japan on the domestic and international market. The most active gold contract for April delivery rose by 0.2 percent to USD $ 1424.9 per ounce, while American Eagle Gold was at…Read more
Crude Oil Price Update. Unrest in Middle East and the Earthquake in Japan Affecting Market Fundementals-15th March 2011.
Oil prices registered an upward hike on Monday, the 14th of March 2011. At the market closure, Brent was priced at USD $ 112.44 a barrel, WTI was at USD $ 101.19 a barrel, while West Texas Sour, Midlands was at USD $ 96.94 a barrel. This increase was being credited to the prevailing unrest…Read more
Weekly Review of Oil Prices. 7th March 2011-11th March 2011.
Oil prices crossed at two-year high on Monday, the 7th of March 2011, following the worsening of the conflict in Libya between the rebels and Muammar Qadhafi. One of Mr. Qadhafi’s sons, Saadi, declared that the embattled leader has not deployed the army in full force against the rebels, saying it to shield Libya against…Read more