commodities

Commodities – Gold hovers at one-month high

Posted on July 23, 2013 at 2:24 pm GMT

Gold has made some good gains in the past four weeks, moving off a near three-year low of $1,180 hit on June 28. Gold has since gained over $160 an ounce to reach $1,338 this week. Helping bullion’s rise was dollar weakness. The two assets usually have an inverse price relationship. A softer dollar that made assets priced in the USD cheaper for holders of other currencies. The dollar was sold off last week after the U.S. Federal Reserve Chairman [..]

Commodities News – Gold pauses four-day rally

Posted on July 12, 2013 at 1:09 pm GMT

Gold’s four-day rally has paused on Friday, turning back lower but still on track for t he biggest weekly gain in nearly two years. The rally began on Monday and accelerated after Federal Reserve Chairman Ben Bernanke said late on Wednesday that the Fed will continue with stimulus measures until more improvement in the U.S. labor market. This led investors to change their expectations that the Fed was going to begin scaling back its bond purchase program in September as [..]

Commodities – Silver tumbles to 2-1/2 year low

Posted on May 20, 2013 at 8:38 am GMT

Silver prices fell to the lowest level since September 2010 on Monday morning, reaching as low as $20.30 an ounce before steadying at around $21.40, down 4 percent. On the year, the precious metal has fallen 30 percent. Silver held in exchange-traded products dropped to a four-month low on May 17. Weighing on silver are investor concerns that economic growth may be slowing in China, which happens to be the biggest industrial fabricator after the US and thus a huge [..]

Commodities News – Gold gains as ECB continues with loose monetary policy

Posted on May 3, 2013 at 8:24 am GMT

Gold has gained 1.5 percent since the announcement of interest rate cuts by the European Central Bank on Thursday to a record low 0.5 percent. As the president of the ECB, Mario Draghi said the central bank will continue with stimulus measures, this pushed investors to the safe haven precious metal. Analysts have attributed recent strength in gold prices to expectations that central banks across the world are increasingly adopting looser monetary policy and flooding the financial system with money. [..]

Commodities News – Gold prices rebound on weak dollar

Posted on April 29, 2013 at 11:56 am GMT

Gold prices have rebounded from Friday’s sharp dip, climbing steadily in Monday trading to recover most losses. A weak dollar is helping spur buying and buoying the precious metal. The two assets usually have an inverse price relationship. If gold is priced in USD, a weaker dollar makes it cheaper for holders of other currencies to buy gold. Gold prices have climbed over $16 in trading so far today to $ to $1,478.57 an ounce. Since Friday’s low of $1,447, [..]

Commodities News – Oil declines from 4-mth high on falling demand

Posted on January 21, 2013 at 12:46 pm GMT

Oil prices are trading lower in Monday, down from a four-month high last Thursday. The CFD for crude is down to $95.50 in the Europe session today, trading sideways since its decline from Thursday’s high of $96.48. Meanwhile the crude oil contract for February delivery, which expires tomorrow, fell as much as 51 cents to $95.05 a barrel in electronic trading on the NYMEX and was at $95.07 at 9 a.m. London time. The March contract was down 46 cents [..]

Commodities – Gold falls for third day

Posted on December 17, 2012 at 9:10 am GMT

Gold price fell in early Monday trading, extending losses for a third straight session as trading volumes were thin ahead of the holiday season. There was little reaction to the latest progress in U.S. fiscal cliff talks. John Boehner, who is the speaker of the House of Representatives, voiced his acceptance to a tax rate increase for the wealthiest Americans. This is a key break in the stalemate in the budget talks. Gold prices are down for the third straight [..]

Commodities – Gold prices edge up ahead of Fed

Posted on December 12, 2012 at 8:52 am GMT

Gold prices edged up on Wednesday as the US dollar remains under pressure on expectations of easing by the Federal Reserve at a policy meeting that concludes later today. The Federal Open Market Committee (FOMC) is expected to announce further stimulus measures on the form of bond purchases in the amount of $45 billion. Such measures tend to have a weakening effect on the US currency and this will support gold as it is seen as a hedge against inflation. [..]

Commodities – Gold rises on expectations of Fed quantitative easing

Posted on December 10, 2012 at 11:08 am GMT

Gold prices climbed higher on Monday to a one-week high on expectations that the US Federal Reserve will be easing further when it holds its policy meeting this week. Despite the higher-than-expected US nonfarm payrolls report on Friday, which led gold to dip briefly, the Fed is still likely to stay accommodative and continue its bond buying program. The Fed is expected to announce fresh bond purchases of $45 billion a month to replace Operation Twist. The latter program which [..]

Commodities – Gold down for second day on stronger dollar

Posted on November 28, 2012 at 12:13 pm GMT

Gold moves lower for a second day on Wednesday due to a firmer dollar. Uncertainties of the US fiscal cliff led to safe haven flows towards the world reserve currency. USD and gold usually have an inverse price relationship. Markets are getting more anxious as focus turns to the fiscal cliff talks where little progress has been made so far to find a resolution to avoid automatic tax increases in January 2013. The so-called fiscal cliff refers to $600 billion [..]

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