Comex gold price rallies to a new 2010-high at 1219.4, one more step closer to record high of 1227.5 made in December, as fears over sovereign crisis resurfaces. Moody’s said it may…
Tag: oil and gold report
Gold Tumbles as China is Uninterested in IMF’s Sales
Crude oil price continues sliding in European morning with the front-month contract extending weakness to 78.3, after a -1.8% Tuesday. Investors remain worried about the unexpected decline in US consumer confidence. After…
Crude Rebounds as Strong European PMIs Halt USD’s Rally
Crude oil rebounds to 73.2 in European morning in tandem with the equity market as strong manufacturing PMI readings in European countries boosted sentiment and buying interest in the Euro. The White…
Industry Estimates Showed Huge Decline in Crude Inventory
Crude oil price climbed higher yesterday after the American Petroleum Institute reported huge decline in crude inventory last week. The benchmark contract added +0.3% to close 79.14. In Asian session today, price…
Crude Breaks Above 80 Again As Investors Speculate Pleasant Surprise from Energy Department
Crude oil rises above 80 (intra-day high: 80.23) in European morning. Investors are awaiting the EIA’s inventory report. As the market anticipates modest build in crude oil inventory, a surprising draw could…
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…
Crude Oil Stays Weak. It’s Correlation with USD Has Surged Substantially
Crude oil price falls below 66 in European morning as USD recovers and stock markets weakens. Currently trading at 65.5, the benchmark contract for crude oil is vulnerable to further decline as…
Crude Oil Dived Amid Stock Builds – Gold Was Neutral To FOMC’s Statement
Crude oil price fell to as low as 68.04 Wednesday after the US Energy Department reported huge builds in crude and gasoline inventory. The benchmark contract ended the day at 68.97, down…