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Posted by
Unknown on Monday, August 8, 2011
COMEX Gold moved moderately lower, impacted by the liquidation in the complete commodity complex. COMEX Silver suffered 3% losses, more influenced by the sell-off in the industrials complex. Meanwhile, S&P has downgraded US sovereign credit rating from AAA to AA+, which has jolted the financial markets. Downgrade was declared after the US market’s close on Friday. As international markets have not been able to react to this event, gold prices are expected to open up with a wide gap.
LME base metals registered heavy losses, with liquidation witnessed across the board. Poor economic sentiment continued to haunt the metal bulls. On supply front, concerns eased where there is a strong possibility of an end to a two-week strike at the world's top Escondida copper mine in Chile, where workers have accepted a bonus offer. LME base metals are expected to open lower, while MCX base metals are expected to struggle further, impacted by the US credit rating downgrade.
MCX Crude oil futures continued to trade weak, impacted by the broad based liquidation in the commodity complex. On international front, US energy futures are expected to trade lower on account of US credit downgrade and looming demand concerns for oil products.
Posted by
Unknown on Saturday, July 16, 2011
Continues the trend of investors in commodity markets. Crude oil is up nearly 2 percent. Crude oil is trading at 97.5 dollars per barrel. Crude oil closed above $ 97 on Friday was Naimaks. Gold prices also looks strong. 1592 dollars with gold trading at $ 3 is the fastest. Had closed Friday at $ 1590. With silver edge is trading above 39 dollars. Friday Comaks 1 per cent silver closed at $ 39 was faster.
Posted by
Unknown on Tuesday, July 12, 2011
Gold prices on Friday posted their biggest weekly rise since November 2009, achieved after a weak U.S. labor market report renewed fears about the health of the world's biggest economy and spurred safe-haven buying.
u.s. crude oil futures ended 2.5 percent lower friday, posting their biggest one-day percentage loss in two weeks, as a disappointing jobs report stoked more worries about oil demand. on the new york mercantile exchange, crude for august delivery settled at $96.20 a barrel, down $2.47, after trading between $95.60 and $99.18. the losses were not enough to erase gains for the week as oil prices continued to rebound from the four-month lows of late last month after iea's announcement it was releasing 60 million barrels of government-held oil reserves from members. for the week, front-month crude rose $1.26, or 1.33 percent, from the $94.94 settlement of july 1, extending gains for a second straight week. (reporting by gene ramos; editing by john picinich.
