Analysis Topic: Commodity Markets - Metals, Softs & Oils
The analysis published under this topic are as follows.
Saturday, June 07, 2008
Crude Oil Sets New High Above $139; Gold Surges as Dollar Dives / Commodities / Crude Oil
By: Jason_Simpkins
Crude oil for July delivery traded at an all-time high of $139.12 a barrel on the New York Mercantile Exchange today (Friday), after the U.S. dollar nosedived on speculation that the European Central Bank would raise its key lending rate and on worries that a bigger-than-expected spike in unemployment meant the U.S. economy was far weaker than feared.
For the day, July crude oil soared $10.75, or 8.4%, to close at an all-time high of $138.54. For the week, the contract climbed 8.8% on the NYMEX.
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Saturday, June 07, 2008
Why there is Speculation in Commodities / Commodities / Resources Investing
By: Money_and_Markets
Mike Larson writes: Congress is up in arms. And the Commodity Futures Trading Commission (CFTC) is on the warpath. Their target: Speculators in the natural resources market.
The CFTC said this week that it's investigating a dramatic rise in cotton prices from earlier this year. It also plans to tighten some rules that apply to investors in the broader agricultural futures markets. Those steps come just a few days after the regulatory body said it would investigate oil trading activity to see if prices are being manipulated.
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Saturday, June 07, 2008
Crude Oil Prices vs the Power of Personality / Commodities / Crude Oil
By: Mike_Shedlock
Shura member calls for oil production curbs in Saudi Arabia .Saudi Arabia's Shura council (parliament) will hold a series of meetings over the next two weeks to discuss a controversial proposal by a key member to curb oil production to save reserves for better prices, Saudi media reported. The council will listen to a report by deputy chairman of the Shura water and public utilities committee, Salim bin Rashid Al Marri, who will argue for cutting crude supplies to maintain the Kingdom's underground reserves.
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Friday, June 06, 2008
Geothermal: A Hot New Power Source / Commodities / Energy Resources
By: Jennifer_Barry
As the global economy attempts to wean itself from dependence on oil, it will search for viable alternatives. Unfortunately, there is no magic bullet on the horizon that will replace petroleum. The solution for the next few decades will be a patchwork quilt of different technologies. The “alternative” energy sources like solar and wind are non-polluting, but they have serious limitations. While nuclear power will be important, it will not be the best solution for all energy needs. Read full article... Read full article...
Friday, June 06, 2008
Gold Stocks Show Bullish Divergence / Commodities / Gold & Silver
By: David_Morgan
It is impossible to extrapolate anything from a single data point, however careful observation usually pays dividends especially when looking for certain clues that financial markets may signal. Today, Thursday June 5, 2008 I noticed that gold was down on the day and yet gold stocks were up. Silver actually had a rather positive day overall and many silver equities were up two to three percent on the day. Normally, when gold is off even slightly and gold stocks show mild strength it is a result of short covering. In fact this is most likely the cause of today's price action. Read full article... Read full article...
Friday, June 06, 2008
Government Raids and Seizures- How Safe Is Your Gold? / Commodities / Gold & Silver
By: Mike_Shedlock
Minyan "SC" is concerned about gold in safe deposit boxes. Just how safe is it? "SC" asks:
There is a disturbing comment by Jim Sinclair about safe deposit boxes in Britain not being so safe from the prying eyes of the government.
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Friday, June 06, 2008
Crude Oil Bull Market Corrections / Commodities / Crude Oil
By: Zeal_LLC
Without a doubt, crude oil is the most important commodity on our planet. Hypothetically if it vanished overnight, our entire modern world would collapse. No goods could move without the oil-derived transportation fuels, so virtually all trade would implode. Unlike nearly every other major commodity, there is just no economically-viable substitute for oil.
And the fundamentals driving oil's secular bull are unparalleled in their strength. As Asia awakens and enters the modern era, global demand for oil is rising relentlessly. Despite today's unprecedented prices, demand remains strong all over the world. And of course once oil is burned, it is gone forever.
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Friday, June 06, 2008
Gold Correction Over / Commodities / Gold & Silver
By: Adrian_Ash
THE PRICE of SPOT GOLD rose more than 1% in London 's morning session on Friday, regaining last week's closing level of $888 per ounce as crude oil added to Thursday's record 5.4% jump.European stock markets held flat, meantime, while corn prices reached new record highs on news of heavy rains and flooding in the US mid-west.
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Friday, June 06, 2008
Gold Supported by Negative Real US Interest Rates / Commodities / Gold & Silver
By: Mark_OByrne
Gold closed at $872.20 in New York yesterday and was down $8.30 but silver closed at $17.07 and was up 23 cents. Both have rallied in Asia and in early European trading.The dollar is flat after yesterday's weakness but oil is up again (another nearly 2%) after yesterday's surge and this is leading to gold buying.
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Friday, June 06, 2008
Silver Conditions Ripe for a Major Uptrend / Commodities / Gold & Silver
By: Clive_Maund
The positive implications of silver's mid-May breakout from a pronounced bullish Falling Wedge downtrend channel have by no means been invalidated by the subsequent rather savage reaction that has got a lot of traders fooled into “thinking grizzly”. In the 1st place a post breakout reaction back to test support at the top of the downtrend channel is quite normal, and secondly the reaction has brought the price back down again to the zone of strong support shown on our 1-year chart, which is now being bolstered by the 200-day moving average rising into it.Read full article... Read full article...
Friday, June 06, 2008
Gold Ready to Begin Next Major Uptrend / Commodities / Gold & Silver
By: Clive_Maund
Gold is now in position to begin its next major uptrend, and in relation to where this uptrend is going to take it, it is considered to be at a very good price right now. According to the “Summer doldrums” crowd who are obsessed with seasonal factors, gold has to wait until August to go up, because everyone is preoccupied with Summer holidays, making the most of the good weather, pursuing pretty girls and looking after unruly kids released from the confines of school etc etc. Oh - is that so? - try telling that to Wall St traders who thought they were safe on the beaches of Long Island with their huge picnic hampers last August. Read full article... Read full article...
Friday, June 06, 2008
It's Not A Dollar Crisis- It's A Gold Crisis / Commodities / Gold & Silver
By: Professor_Emeritus
The title is a bow to Peter Schiff for his admirable article It's Not an Oil Crisis: It's a US Dollar Crisis .
Thirty-five years ago gold, symbol of permanence, was chased out from the Monetary Garden of Eden, replaced by the floating irredeemable dollar as the pillar of the international monetary system. That's right: a floating pillar. The gold demonetization exercise was a farce. It was designed as a fig leaf to cover up the ugly default of the U.S. government on its gold-redeemable sight obligations to foreigners.
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Thursday, June 05, 2008
Gold Continues to Consolidation / Commodities / Gold & Silver
By: Mark_OByrne
Gold closed at $ 880.50 in New York yesterday and was down $1.80 and silver closed at $16.84 and was up 5 cents . Gold initially rose in Asia prior to selling off and has continued to sell off in European trading.Gold continues to consolidate between $850 and $950 but the 200 day moving average at $875 and $850 look like providing strong support given the prevailing macroeconomic climate and the ever important supply demand fundamentals (see below).
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Wednesday, June 04, 2008
Indiana Jones and the Temple of Silver / Commodities / Gold & Silver Stocks
By: Money_and_Markets
Sean Brodrick writes: In the mid-1500s, legend has it that Spanish explorers were traveling through the Guanajuato region of Mexico when they camped for the night by the side of a river. They piled stones in a circle and built a fire in the middle of the circle. During the course of the night, the heat of the roaring fire melted raw silver right out of the rock, leaving puddles of metal for the astonished explorers to discover in the morning.
The Spanish forgot their original mission and started looking around for the source of the silver-rich rock. They quickly found it, and that was the start of the silver town of La Luz.
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Wednesday, June 04, 2008
Gold Recovers One-Third of "Bernanke Plunge" / Commodities / Gold & Silver
By: Adrian_Ash
SPOT GOLD PRICES recovered one-third of yesterday's $18 plunge early Wednesday as crude oil slid to a three-week low and European equity markets dropped 2%, led lower by mining and banking stocks.The Euro ticked higher against the Dollar, regaining a quarter of Tuesday's two cent plunge.
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Tuesday, June 03, 2008
Crude Oil Crisis Coming to an End? / Commodities / Crude Oil
By: Clif_Droke
Now that the financial system has been bailed out, it remains for the beleaguered consumer to be rescued from the doldrums he currently faces. When will the consumer finally be freed from the torment that is so prevalent out there? It shouldn't surprise you that the answer will come from today's most talked about culprit: the price of oil.
With oil and gasoline prices through the roof, food prices on the rise and concerns about the stability of the U.S. economy prevalent, it's no wonder that consumer sentiment is at a multi-decade low right now. Take a look at the latest chart below.
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Tuesday, June 03, 2008
Neutral Dollar is Bearish for Gold / Commodities / Gold & Silver
By: Ned_W_Schmidt
As is readily apparent, the Gold market had been living this past year in those rare best of times. Federal Reserve was on a determined course to lower interest rates. That encouraged selling of U.S. dollar, pushing it down in value. At the same time, a mini mania developed in paper oil market. While no shortage of physical oil could be found, the paper oil market moved higher. Those factors emboldened Gold traders to bid the metal higher.Read full article... Read full article...
Tuesday, June 03, 2008
Gold Lifted Followng Bradford & Bingley Banking Sector Shockwaves / Commodities / Gold & Silver
By: Mark_OByrne
Gold closed at $893.50 in New York yesterday and was up $6.50 and silver closed at $16.87 and was up 4 cents .Gold's rise yesterday came despite little or no movement in the dollar and oil price and seems to have been primarily safe haven buying on continuing concerns about the credit crisis.
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Tuesday, June 03, 2008
Gold Safe Haven Play as Credit Crunch Hits Banks Again / Commodities / Gold & Silver
By: Adrian_Ash
SPOT GOLD PRICES slipped 0.5% as the US open drew near on Tuesday after touching yesterday's three-session high of $897 per ounce early in London .The European single currency – celebrating its tenth anniversary this week – also rose to its best level vs. the Dollar since Thursday, hitting $1.5630 on the currency markets.
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Tuesday, June 03, 2008
Higher Oil Bullish for Clean Energy? Not Necessarily! / Commodities / Energy Resources
By: Mike_Paulenoff
One would think that if crude oil were about to spike to $150/bbl or higher,
that the "clean energy" portfolio, otherwise known as solar stocks, would be
a bit more buoyant, right?
However, let's notice that just the opposite situation has developed: the
PowerShares Clean Energy Portfolio (AMEX: PBW) looks vulnerable to a
nose-dive towards the 20.00 support area (another 10% on the downside from
current levels)!