Crude oil price rebounded strongly Tuesday as OPEC raised oil demand forecasts for 2009 and 2010, US economic data beat market expectations as well as Fed Chairman Ben Bernanke said that US…
Tag: Gold
Gold Daily Technical Outlook
Comex Gold (GC) Intraday bias in Gold remains neutral for the moment as consolidation from 1013.7 is still in progress. Nevertheless, with 983.2 support intact, further rally is still expected to test…
Rebounds in Equity Markets Boosted Commodity Prices
Despite weakness in Asian session, crude oil price recovered in NY session amid rebound in stock market and renewed selling in USD. The October contract slid -0.6% to 68.86. Concerning others in…
Gold’s Outlook Mixed in Near-term But may Rise to 1100 in 6 Months
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…
Commodities Under Pressure as USD Rebounds and Pace of Recovery May Slow
Crude oil price remains under pressure in European morning on stock markets’ decline and USD’s rebound. As recent price rallies have brought risky assets’ valuations to stretched levels, investors have become extremely…
Risk Aversion Returns amid Trade Protectionism
Crude oil price extends last Friday’s weakness and slides to 68.5 in Asia Monday as driven by decline stock markets and rebound in USD. Recent rallies in commodity and stock markets have…
Gold Daily Technical Outlook
Comex Gold (GC) While some retreat might still be seen, short term outlook in Gold remains bullish with 983.2 support intact. Further rally is still expected to retest 1033.9 high first. Break…
Gold & US Dollar Relationship
When it comes to Gold, there is actually too much focus or incorrect focus on the US Dollar. The fact is that throughout this bull market, Gold has been leading the US…
Gold Weekly Technical Outlook
Comex Gold (GC) Gold’s rally extended further to as high as 1013.7 last week, and took out 1007.7 resistance as expected. Short term outlook will remain bullish as long as 983.2 support…
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…