Gold price stays firm in European morning as the dollar continues to weaken against major currencies. We receive strong trade data from China yesterday but most investors only related strong imports to…
Category: Oil & Gold Report
Crude Reverses Gains as China Raises Yield and Weather May Get Warmer
Crude oil reversed gains after failing to test 84 in NY session Monday. The February contract ended the day at 82.52, down -0.3%. Currently trading at 81.9, the decline accelerates as the…
Strong China Imports Pushed Crude Price Higher
Crude oil price rose to as high as 83.67 after China reported strong imports in December. In 2009, robust demand in emerging countries, especially China, was the major driver for energy prices….
Energies Extend Gains as Strong China Trade Drives Sentiment
Crude oil extends rally to 83.95 in European session. Weakness in USD, abnormally cold weather in the Northern hemisphere and strong demand from China are pushing energy prices higher. Oil products also…
Oil Price Rises Above 80 on Better Macro Outlook but Fundamentals will Play a Key Role in 2010
WTI crude oil extends the 8th day of rally above 80 on speculations for growth in energy demand as US weather remains below-normal. The February contract surged to as high as 81.16,…
Dollar’s Rebound Won’t Sustain as No Rate Hike from Fed Soon
Crude oil trades narrowly in European morning. As USD rebounds after Fed Chairman Ben Bernanke’s speech about policy tightening, commodities pare gains. In the energy complex, WTI crude oil pulls back to…
Gold Declines After the 5-day Rally. Correction Should Be Short-lived
Gold price rallied to 1062.7 before settling at 1056.3, +1.1%, as USD plummeted and crude oil soared. The yellow metal retreats to 1049 in Asia Friday, the first decline after surging for…
Crude Oil Recovers after the Plunge. Nr-term Outlook Remains Worrisome
WTI crude oil plummeted after a 2-day rally as petroleum product inventories increased more than expected. The benchmark contract slid -1.8% to close at 69.57. Others in the energy complex also dropped…
Gold Price Made Fresh Record High and Confirmed Long-term Uptrend
Gold price set a new record high Tuesday amid USD’s weakness and renewed inflation worries. The benchmark contract for the yellow metal breached the peak of 1033.9 made in March 2008 and…
USD’s Strength Amid Rate Cut in Russia Put Pressure on Commodities
Crude oil pulls back again after soaring to 67.33 in European morning as USD strengthens. Moreover, mixed performance in European stock markets Tuesday put pressure on energy prices. Although the tension in…