commodities

Commodities News – Gold volatile after delay in Greece aid deal

Posted on November 21, 2012 at 4:11 pm GMT

Gold has been flat since late Tuesday trading. The precious metal recovered to prior levels after dipping early on Wednesday due to a firmer dollar after disappointing news from Europe. Greece’s lenders failed to conclude a debt deal at the Eurogroup meeting on Tuesday. Many had been expecting the agreement to release the next aid trance to be struck at the meeting. However, the European finance ministers instead decided to hold another meeting to finalize matters on November 26. Spot [..]

Commodities – Crude oil jumps on Mid-East tensions

Posted on November 19, 2012 at 9:02 pm GMT

Crude oil prices jumped around 3 percent on Monday, rallying to the highest price since mid-October due to worries of supply shortage as violence escalates in the Middle East escalated. The Israeli-Palestinian tensions began on Wednesday last week and have grown to a full blown conflict. Israel bombed dozens of targets in the Gaza Strip on Monday and said that while it was prepared to step up its offensive by sending in troops, it preferred a diplomatic solution that would [..]

Commodities – Gold trades lower for second day

Posted on November 16, 2012 at 3:27 pm GMT

Gold prices traded lower on Friday, dipping for a second straight day. Spot gold dipped to $1,704.79 on Thursday, after tumbling $20 following a report from the World Gold Council indicating that demand for bullion weakened in the third quarter. On Friday, gold revisited close to those levels, touching a low of $1,705.53. The World Gold Council released a report stating that global gold demand fell 11 percent in the third quarter from a year ago. Pressuring prices was slumping [..]

Commodities – Gold rises for second day

Posted on November 9, 2012 at 2:07 pm GMT

Gold rose for a second day to hit a three-week high as concerns of the U.S. fiscal cliff and more loose monetary policy boosted demand for the precious metal. Immediately after the U.S. elections on Tuesday, market focus switched to the looming $600 billion worth of spending cuts and tax increases which will kick in by January 1 next year if the U.S. government does not find a resolution. Investors have become worried that Washington’s politicians may struggle to find [..]

Commodity News – Oil prices supported by Middle East tensions

Posted on October 22, 2012 at 8:16 am GMT

Crude oil halted Friday’s sharp decline to edge up slightly in Monday trading. A softer dollar is helping lift the commodity as risk appetite improved in the Asian session. Oil prices have recently been weighed down by concerns of a slow global economic recovery after data showing tepid recovery in the world’s two largest economies, the United States and China. However, China’s economic recovery is expected to improve, albeit at a slow pace. Nevertheless, the world’s second largest consumer of [..]

Forex News – South African Rand gains as commodities rise after US data

Posted on October 16, 2012 at 8:30 am GMT

The South African Rand has managed to minimize losses made against the US dollar today, following a sharp decline on Monday when it fell by almost 3 percent. Since late Monday, the commodity-linked rand has been strengthening, due in large part to a boost in risk appetite following a better-than-forecast US retail sales report. Consequently commodity prices and risk assets were boosted. This gave a much needed lift to the South African currency especially after it was hurt by news [..]

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