Analysis Topic: Commodity Markets - Metals, Softs & Oils
The analysis published under this topic are as follows.Friday, December 05, 2008
Gold Slumps on Half a Million U.S. Job Losses / Commodities / Gold & Silver
THE SPOT PRICE OF GOLD gave back a tepid rally early in London on Friday before slumping to fresh two-week lows at $750 an ounce on news of a huge jump in US unemployment.More than half-a-million Americans lost their jobs last month, reported the Bureau of Labor Studies. Wall Street analysts had been expecting 325,000 job losses.
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Thursday, December 04, 2008
Euro Rockets and U.S. Dollar Pops Gold / Commodities / Gold & Silver
The upside reversal in EURUSD today has popped the streetTRACKS Gold Shares (NYSE: GLD) to an intraday high at 77.63, which if nothing else has put some distance between the price structure and key near-term support at the December low of 75.10/05. Prices have pulled back to 75.88 even though EURUSD has held its gains, which means that gold prices remain heavily influenced by the continual selling pressure across the commodity complex in general -- and in oil, in particular. Oil prices have plunged to new lows at $44.52, the lowest level since February 2005 and at the top of a support band that stretches across major highs going back to September 2000.Read full article... Read full article...
Thursday, December 04, 2008
Gold Unmoved by Historic Interest Rate Cuts in Europe / Commodities / Gold & Silver
THE SPOT PRICE OF GOLD Gold Prices held in a tight $10 range in Asia and London on Thursday, unmoved by historic interest-rate cuts across Europe that buoyed French and German equities as returns-to-cash sank.The European Central Bank (ECB) lopped 75-basis points off the cost of borrowing Euros, but held above the previous 2003 low of 2.0%, with its largest ever one-day reduction.
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Wednesday, December 03, 2008
Gold Market "Illiquid" as Zero Interest Rates Loom / Commodities / Gold & Silver
THE PRICE OF GOLD for physical delivery slipped back against the Dollar, Euro and Yen early Wednesday in London, but recovered two-thirds of this week's 3.5% drop for UK investors as the Pound tumbled again on the foreign exchanges.On the stock market, Wall Street's strong overnight finish faded in Asia and left European bourses almost 1.5% lower by lunchtime.
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Wednesday, December 03, 2008
Gold Robust Physical Demand / Commodities / Gold & Silver
Gold rose nearly 1% yesterday as the dollar gave up some of its gains in recent days. Gold has remained slightly weaker in European trading and this is likely because of continuing dollar strength, particularly against the euro.Read full article... Read full article...
Wednesday, December 03, 2008
Stock Market and Commodities Will Recover; Economic Crisis Far from Over / Commodities / Resources Investing
As SilverStrategies.com editor Sean Rakhimov tells us in this exclusive interview with The Gold Report, the economic crisis may go on for a generation but the market is a separate animal that will stir back to life sooner. He expects physical gold and silver to lead the parade, with base metals lagging 12-18 months behind, followed by share price recovery for the majors and on down the line. When picking stocks to buy now, he says investors have to decide for themselves whether a company will survive the washout; it may be tough going from here to there, but sticking with survivors should prove beneficial in the long run.Read full article... Read full article...
Wednesday, December 03, 2008
Why Investors Pay High Silver Premiums? / Commodities / Gold & Silver
I was checking out a new facility by Eric LeMaire which lists the latest eBay prices for gold and silver as well as some common numismaticals from decades past. You can see the statistics at this link . What struck me were the huge premiums that silver investors are prepared to pay for one ounce coins right up to 100 oz bars. At a glance I could see an average premium of 124% for American Silver Eagles, 164% for Kookaburras and 105% for Maples. More sane premiums can be seen on the 100 oz at 35% which is nevertheless still a hefty premium compared to how much one may pay for other asset classes.Read full article... Read full article...
Tuesday, December 02, 2008
Comex Gold Shock and Awe / Commodities / Gold & Silver
This past Friday, Nov. 28, 2008, was first notice day for delivery of the December COMEX [a division of NYMEX] gold and silver futures contracts which trade on the New York Mercantile Exchange. The chart appended below shows that on Friday, 8,600 gold futures contracts @ 100 ounces per contract [and 3,040 silver futures contracts @ 5,000 ounces per contract] were delivered. To try to give some perspective to these numbers the previous delivery month for gold futures was October, 2008 when there were 11,554 deliveries for the entire month – a “big” number by historical standards.Read full article... Read full article...
Tuesday, December 02, 2008
Gold and Stocks Bounce after Yesterdays Slide / Commodities / Gold & Silver
THE SPOT PRICE OF PHYSICAL GOLD bounced $13 per ounce from a new 7-session low early Tuesday, while world stock markets found their floor almost 15% below the start of last month.Recording an AM Gold Fix here in London of $772.50, the Gold Price stood 5% below last week's peaks vs. the Dollar and Euro as well as Sterling.
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Tuesday, December 02, 2008
Gold Crashes by 5% But Posts Strong Annual Gain in Sterling / Commodities / Gold & Silver
Gold fell sharply yesterday and gave up some of its recent gains. Gold for February delivery dropped $42.20 to end at $776.80 an ounce or 5.4% on the New York Mercantile Exchange. The sell off begin in Asia on sharply lower oil prices and continuing dollar strength but continued as European and US stock markets again fell sharply.Read full article... Read full article...
Tuesday, December 02, 2008
Citigroup Predicts Gold 2000 in 2009 / Commodities / Gold & Silver
The horror of this financial crisis continues to grow.
The debate continues over bailing out the auto industry. What do you think? If a bailout occurs it will only be the first in a never ending line of industries seeking help. The world is now quickly changing and moving with a determined force we have not witnessed in our generation or the generation before.
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Monday, December 01, 2008
Gold Corrects After Novembers Surge as Dollar Strengthens / Commodities / Gold & Silver
WHOLESALE GOLD PRICES fell sharply in Asia and London on Monday, dropping 3.2% from Friday's best weekly close in eight and falling below $791 an ounce.The six-day rally in global stock markets also stalled on a fresh surge in the US Dollar and Japanese Yen.
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Monday, December 01, 2008
Gold Holding above Important $800 Support Level / Commodities / Gold & Silver
In thin holiday trading, gold rose 1% on Friday closing above the important $800/oz mark for a gain of 3.1% for the week – its third week in a row of gains. It was up 14% for the month of November which was its largest monthly gain in more than 9 years.Read full article... Read full article...
Sunday, November 30, 2008
Gold Breakout, Re-run of September Price Action? / Commodities / Gold & Silver
Is this September all over again, a sharp couple day rally and then a more casual topping out and decline? This time the rally didn't even come close to the 200 day moving average line which has now turned to the down side. But who knows, maybe this time it's different.
GOLD : LONG TERM As mentioned last week the long term P&F chart, although showing a valid upside (bullish) break-out, is still a weak break and projects only to the top of the Sept-Oct highs. That does not make for a strong long term reversal. Other than an extra X during the latest move the P&F remains as it was last week.
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Sunday, November 30, 2008
Precious Metals Scene In Europe / Commodities / Gold & Silver
During my recent trip to Europe we visited four main cities: London, Paris, Zurich, and Munich. My impression of each location varied, in relation to the current global economic climate and how the precious metals are behaving.Read full article... Read full article...
Saturday, November 29, 2008
Gold Solid Bull Market Uptrend in 2009 / Commodities / Gold & Silver
Money authorities around the world will not stop stimulating economies, printing money and doing whatever it takes until growth and confidence are restored to the bright days prior to July 2009. And this will be done even if the cost is high inflation, for better inflation than savage deflation!Read full article... Read full article...
Friday, November 28, 2008
Commodities and Stock Markets Positive Signs / Commodities / Resources Investing
It's been one major blow after another on the market and economic front. But the historical election excitement provided a welcome distraction during these uncertain times.Read full article... Read full article...
Friday, November 28, 2008
Junior Mining Resource Stocks in Hell / Commodities / Metals & Mining
Junior resources stocks reside in a realm that has long been considered the Wild West of the equity markets. And investors who speculate on the junior circuit are the consummate gamblers. Risks and rewards are realized in extreme fashion as juniors can either make you rich or rob you blind.
The allure of juniors will always captivate investors. It's exciting to own a portion of a company that is in effect a modern day treasure hunter. Whether it is searching for precious metals or petroleum, if a junior scores a find the owners of the company will be greatly rewarded. Speculating in juniors allows desk jockeys to become prospectors.
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Friday, November 28, 2008
Gold Near Record Price Rise on Deflation Scare / Commodities / Gold & Silver
THE PRICE OF GOLD continued to hold steady early Friday in London, nearing its fourth weekly gain in succession vs. the Dollar and standing more than 11% higher from the start of November.Read full article... Read full article...
Friday, November 28, 2008
Gold Demand Dynamics Change due to Growing Geopolitical Instability / Commodities / Gold & Silver
Gold and silver were flat yesterday and have remained unchanged in Asian and early European trading. Gold is set for a fourth straight week of gains on safe haven demand and on the likelihood of further dollar declines with further reductions in U.S. and international interest rates and further quantitative easing next month.Read full article... Read full article...