Analysis Topic: Commodity Markets - Metals, Softs & Oils
The analysis published under this topic are as follows.Thursday, April 10, 2008
Gold Finished With Corrective Rally? / Commodities / Gold & Silver
Yesterday my work was telling me to await one more new recovery high into the 93.20/60 area prior to considering a short position in the streetTRACKS Gold Shares (NYSE: GLD). Naturally, prices have weakened this morning. However, I am NOT convinced that the recovery rally off of the 4/01 low at 86.05 is complete on the upside. I will stand aside for a while longer prior to committing $ to the short side of the GLD.Read full article... Read full article...
Thursday, April 10, 2008
Gold Prices Gain as Bank of England Ignores Inflation and Cuts UK Interest Rate / Commodities / Gold & Silver
SPOT GOLD PRICES rose to an eight-session high for US investors above $939 per ounce as the Wall Street open drew near on Thursday as world stock markets fell and broad commodity prices rose 2.3%.In Frankfurt, Germany, the European Central Bank voted to keep its target interest rate on hold at 4.0%, helping cap the Gold Price in Euros at a two-day high of €590 per ounce.
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Thursday, April 10, 2008
Gold Rallies on Record High Crude Oil Prices / Commodities / Gold & Silver
Gold is up in early trading in London this morning. Gold was up $30 to $934 per ounce in trading in New York yesterday and silver was up 50 cents to $18.18 per ounce. The London AM Gold Fix at 1030 GMT this morning was at $ 934.25, £471.08 and €587.95 (from $906.75, £460.40 and €576.56 yesterday).Read full article... Read full article...
Wednesday, April 09, 2008
The Start of a Gold Bull Run / Commodities / Gold & Silver
The price of Rice doubled in the last 2 months raising fears of fresh outbreaks of social unrest across Asia, where the grain is a staple food for more than 2.5bn people (See article in FT.com here ).
This should come as no surprise since grains, energy, and just about every other commodity prices have risen a minimum of 50% in the last 6 months. And a strong physical demand and lax monetary policy will continue to fuel high commodity prices.
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Wednesday, April 09, 2008
Commodities Bull Market Ready to Charge Again! / Commodities / Resources Investing
Sean Brodrick writes: The last few weeks have been the roller coaster ride from hell for commodities, an up-and-down whirlwind that has left many traders feeling turned inside-out.
But I think there are strong signs that a commodity correction may be coming to a close. If you're not long yet, you might want to consider putting some money to work.
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Wednesday, April 09, 2008
IMF Gold Sales- Rich West Sells Gold; Asian Nations Sell US Dollars? / Commodities / Gold & Silver
"...The growing call for pan-global government intervention might just throw up a ' Reverse Plaza ' sometime soon in the future..."
WELL, WHAT A BUSY WEEK for the International Monetary Fund! And it's barely half-way through ( as of Wednesday ).
Just how busy will the IMF get when it helps host the G7 meeting of policy wonks from the world's seven richest nations in Washington this weekend?
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Wednesday, April 09, 2008
South African Power Cuts Affect Precious Metal Markets Production for Years / Commodities / Gold & Silver
The South African government will give state-owned power utility, Eskom, R80 billion in funding it was announced in the annual budget on 20th February to help it boost electricity generation. Since then it is clear that Eskom will be able to access the needed total funding of well over R300 billion [$37.5 billion] to expand capacity. Since then Eskom has confirmed that it needs to see South Africans cut power demand by 10% for the next few years. At the moment the main city of South Africa is suffering power outages every second day for between 1 and 3 hours at a time. It has recommended too that expansion plans for the mines, smelters in the country, housing projects and new ventures be curtailed until Eskom can guarantee the needed electricity to operate them. It expects power cuts to continue until at least 2013. So that one, on the outside, can gain some perspective of the problem and how it will be handled in the future, it would be good to see just how such a SNAFU could have happened.Read full article... Read full article...
Wednesday, April 09, 2008
Gold Bounces on Record US Gasoline Prices and Credit Crisis / Commodities / Gold & Silver
SPOT GOLD PRICES slid into the London opening on Wednesday, reaching a four-session low of $903.60 per ounce before bouncing 1.4% to recover the day's losses on news that US gasoline prices have reached a new record high for consumers.The average price of regular unleaded has now risen to $3.343 per gallon according to the AAA survey, almost 20% higher from this time last year.
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Wednesday, April 09, 2008
Where Is Gold Going? / Commodities / Gold & Silver
Though many of you may find this hard to believe but I believe gold is preparing to take out new highs. Nothing has changed concerning the fundamentals and the Federal Reserve is not going to be successful in fixing the many problems at the moment. Oil will continue to stabilize and find its own price platform. The housing mess has not finished yet. There are still so many adjustable rate mortgages that have not been triggered as of yet.Read full article... Read full article...
Wednesday, April 09, 2008
Gold and Silver, Preparing for the Next Launch to Greater Heights / Commodities / Gold & Silver
Normally when a commodity rises in price, the supply increases, as producers put their product on the market to take advantage of the higher price. In the case of gold, we see the opposite to that trend. In the year 2000, just before the current bull market in gold began, the world's mines produced 2,573 tonnes. (Some sources quote 2,604 tonnes). In 2007, after gold increased in price from $260.00 to $900.00, the supply of new gold actually DECLINED by 129 tonnes, to 2,444 tonnes. South Africa , historically the world's largest supplier of gold, is now producing the lowest number of ounces in 84 years, and has been overtaken for first place by Red China. (Source www.goldsheetlinks.com ). Gold is scarce, and getting scarcer!Read full article... Read full article...
Wednesday, April 09, 2008
Gold Weakens Ahead of Central Bank Meeting / Commodities / Gold & Silver
Gold is down some 1% in early trading in London this morning. Gold was down $11.10 to $914.00 per ounce in trading in New York yesterday and silver was down 41 cents to $17.68 per ounce. The London AM Gold Fix at 1030 GMT this morning was at $906.75, £460.40 and €576.56 (from $921.00, £465.95 €584.65 yesterday).Read full article... Read full article...
Wednesday, April 09, 2008
Turning up the Heat on Coal Investing / Commodities / Coal
Opponents of coal use are turning up the heat. This week, protests turned violent against a coal-fired plant being built in North Carolina by a unit of DUKE ENERGY.
Eight demonstrators from a group called “Rising Tide” were arrested after chaining themselves to construction equipment at the Cliffside facility. Others were stunned with Tasers and charged with trespassing, as police cleared the facility so work could resume.
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Wednesday, April 09, 2008
Gold Correction Presents Opportunity for Investors to Accumulate Gold / Commodities / Gold & Silver
Two sets of forces work on market prices. Internal factors, or market's technical conditions, can in some periods dominate all others. Second set of forces are fundamental factors. Latter is that which is happening in world that might influence market. The much enjoyed rally from last summer's lows to the joyous move above US$1,000 was driven by latter. Investors wanted to protect their purchasing power from collapse of purveyors of paper assets. Internal factors seem now to be more important at the present time.Read full article... Read full article...
Wednesday, April 09, 2008
An "ABCs of Gold Investing" Update / Commodities / Gold & Silver
"F" is for "Fundamentals"
Golden Gut Check - Why gold is likely to keep moving higher over the long run
"Gentlemen, this is a football." -
Coach Vince Lombardi at the start of Green Bay Packer football camp
Tuesday, April 08, 2008
Gold Little Moved by IMF's Planned Sale Inside Existing Central-Bank Quotas / Commodities / Gold & Silver
SPOT MARKET GOLD PRICES slipped south of an 0.8% trading range as the US open drew near on Tuesday, falling to $915 per ounce – a little more than $1 higher for the week so far – after the International Monetary Fund (IMF) approved a decision to start selling 400 tonnes of its bullion reserve.Crude oil dipped 0.3% to $108.74 per barrel; Treasury yields ticked lower as bond prices rose; world stock markets fell around 1% across the board.
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Tuesday, April 08, 2008
Gold Weakens on Rumours of IMF Gold Sales / Commodities / Gold & Silver
Gold is down slightly in early trading in London this morning. Gold was up $13.80 to $923.10 per ounce in trading in New York Friday and silver was up 38 cents to $18.09 per ounce. The London AM Gold Fix at 1030 GMT this morning was at $921.00, £465.95 €584.65 (from $914.70, £460.27 and €582.17 yesterday.Read full article... Read full article...
Monday, April 07, 2008
Silver Expected to Hold Support for Resumption of Bull Market / Commodities / Gold & Silver
Although silver dropped back quite sharply last week as expected, in tune with gold, it was interesting to observe that the decline halted EXACTLY at its channel support line shown on our 1-year chart, and that it did not drop below its mid-March low on a closing basis. These are signs that it may just have bottomed, especially as it is now noticeably outperforming gold. What this means is that even if gold goes on to drop towards our intermediate maximum downside target in the $830 - $850 zone, silver may not react much further and might hold above last week's low. Traders should be remain aware of this and depending on how it pans out in the near future could aim to buy close to last week's lows with a tight stop, possibly re-entering the position in the event of being shaken out by a short-lived drop to lower levels, on subsequent strength.Read full article... Read full article...
Monday, April 07, 2008
Gold Correction Targeting Move to $850-$830 / Commodities / Gold & Silver
Gold's uptrend channel from its August low failed last week as predicted, leading to an immediate plunge to $875, from which point it bounced. The failure of the uptrend and the drop well below the 50-day moving average, now way above the 200-day, are events that together typically lead to a prolonged period of consolidation/reaction. This fits with the fundamentals where there is likely to be a significant easing of concerns about the potential insolvency of major banking and mortgage corporations and institutions as the US Fed and Treasury organize an effective taxpayer funded bailout to get them off the hook. Even though the implications of this are hyperinflationary, the general relief resulting from the aversion of immediate crisis is likely to fuel a strong rally in the broad stockmarket, as already set out in detail last week on www.clivemaund.comRead full article... Read full article...
Monday, April 07, 2008
Gold Rallies As Weak US Economy Puts Dollar Under Pressure / Commodities / Gold & Silver
Gold is up in Asian and early trading in London this morning. Gold was up $3.60 to $909.30 per ounce in trading in New York Friday and silver was up 32 cents to $17.71 per ounce. The London AM Gold Fix at 1030 GMT this morning was at $914.70, £460.27 and €582.17 .Read full article... Read full article...
Monday, April 07, 2008
Gold Correction or Price Collapse? / Commodities / Gold & Silver
Conduct your victory as a funeral - Tao Te Ching , Lao-tzu
Gold's recent sell-off from a high of $1033 has sent once jubilant gold investors to the sidelines to reassess gold's present malaise. Rest assured, gold is going higher, much higher. While there will be corrections along the way, gold will someday break out and explode upwards towards yet to be reached heights.
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