Gold price continues hovering around 1000 in European morning but with a soft tone. Near-term outlook is mixed but the dollar remains a crucial determinant. USD recovers against the euro (currently trading…
Tag: gold market
Weekly Fundamental Outlook for Energies and Metals – Consolidation in Crude Oil will Continue in Coming Months
Commodity prices rose modestly last week amid weakness in USD. Reuters/Jefferies CRB Index added +1.4% while USD Index plunged almost -2% to 76.6, the lowest close in a year. Commodities normally trade…
Weakness in Dollar Spurred Demand for Commodities
Although the US inventory report triggered selloff in crude oil price to as low as 70.86, decline in USD boosted demand for commodities again in afternoon session. The WTI October contract added…
Crude Remains Supported as IEA Raised Demand Forecasts
Crude oil price remains strong in European morning. The International Energy Agency (IEA) raised its forecast on oil demand, as indicated in the September report. The October contract hovers around 72 as…
OPEC Continues to ‘Wait & See’, Satisfied with Current Price Level
Crude oil price rose to as high as 72.52 Wednesday as driven by advance in stock markets amid the Fed Beige Book showed improved economic conditions. The benchmark contract ended the day…
Has Gold’s Long-term Uptrend Resumed?
Gold’s rally accelerates after breaching 1000. The December contract surges to as high as 1009.4, the highest level since March 2008. A close above 1000 should provide more evidence that the long-term…
Narrow Trading Across The Board. CFTC Commitments Of Traders Saw Significant Decline In Crude Net Longs
Commodity prices trade narrowly Monday due to Labor Day holiday in the US. Crude oil price edges slightly higher to 68.12 from Friday’s close of 68.02. This week’s focus is on OPEC’s…
Thin Trading Seen In Commodities While Stocks Surge As G-20 Collaborate To Strengthen The Economy
Crude oil price continues hovering around 68 level in European morning. We believe thin trading remains throughout the as US and Canada are on public holidays. Stock markets in Asia and Europe…