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…
Tag: Gold
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…
Gold Weekly Technical Outlook
Comex Gold (GC) Gold rose sharply to as high as 999.5 last week, just shy of 1000 psychological level, before turning sideway. Initial bias remains on the upside this week as long…
Weekly Fundamental Outlook for Energies and Metals – Gold Shines Again While Crude Loses Glitter
Star of the week was obviously gold which broke out of recent broad trading range and set to resume the long uptrend with target above 1000. We find the rally impressive as…
Gold Rallied For Another Day But Shy Of 1000
Gold’s rally accelerated after breaking through technical resistance. The benchmark contract surged to as high as 999.5, the highest level since February, before closing at 997.7. The precious metal jumped more than…
Base Metals Strengthen Further While Gold Retreats
Base metal complex extends further strength after the strong rally yesterday. LME lead for 3-month delivery, the best performer, jumps another +4.7% to 16-month high at 2387 after rising +7.8% Thursday. In…
Gold Daily Technical Outlook
Comex Gold (GC) The sharp rise in gold extended further to as high as 999.5 before retreating mildly. At this point, intraday bias remains on the upside as long as 982 minor…
Gold Daily Technical Outlook
Comex Gold (GC) Gold’s sharp rally sent it through 974.3 resistance as well as upper trend line resistance, suggesting recent triangle consolidation might be completed already. At this point, intraday bias remains…
Reasons For Gold’s Rally: Return Of Safe-Haven Appeal And Seasonality
Gold price rallied +2.3% to 978.5 Wednesday despite weakness in equity and oil prices. Investors’ concern over the US banking sector boosted demand for safe haven. As we noted yesterday, gold’s firmness…
Commodities Strengthen As China Stocks Rebound
Crude oil price rebounds above 69 as rally in China stock market boosted confidence on better oil demand. Reports show that crude oil production in Russia rose +1.3% yoy to 9925M bpd…