Precious metals continued to trade down following the recent testimony of Bernanke and the publication of the minutes of the May FOMC meeting. The speculations around the Fed’s potential tapering of the QE3 program may have contributed to the fall of precious metals and other commodities markets. The equity markets in the U.S also tumbled down. Currently, the Japanese yen is tumbling down against the Euro and USD on account…
The recent testimony of Bernanke in Congress didn’t reveal anything new: He continued to say that the Fed’s current asset purchase program is important for keeping the U.S economy on its road to recovery. At the same time, he didn’t rule out the option of the Fed tapering the QE3…
Precious metals changed directions and fell yesterday. Their decline coincided with the rally of U.S equity markets. Conversely, the Euro and other leading “risk related currencies” also rose yesterday. Today, the Fed will publish the minutes of the April/May meeting. Bernanke will testify. Will Bernanke bring down the markets again…
Major commodities were traded in a mixed trend on the second business day of the week: Brent oil slightly rose while WTI oil slipped on Tuesday; natural gas Henry Hub future (short term delivery) sharply increased again yesterday; silver and gold prices changed direction and fell on Tuesday; the Euro…
The bullion market has changed direction and rallied on the first day of the week after gold and silver rate plummeted last week. Will gold and silver continue to rally? The minutes of the recent RBA monetary meeting came out and showed the factors behind the latest rate cut. Tomorrow…
Gold and silver prices tumbled down again during last week. Will gold and silver continue to trade down this week? As I have stated in the recent precious metals weekly outlook, several publications, events and speeches will take place during the forthcoming week that may affect bullion prices. These items…
Gold and silver continued to trade down during last week. Their sharp fall coincided with the depreciation of leading “risk related currencies” such as Euro and Aussie dollar against the USD. Moreover, the ongoing rally of U.S equity markets is also contributing the decline in demand for bullion as an…
During the previous weeks the leading “risk related currencies” such as Euro and Aussie dollar tumble down against the USD; commodities prices including gold, silver and oil fell while equity markets rallied. This upcoming week the market volatility might pick up considering the many news items and events that could…
The rates of crude oil (both WTI and Brent) remained virtually unchanged during last week: WTI inched down by 0.02%; Brent oil slipped by 0.18%. As a result, the difference between the Brent oil and WTI remained nearly flat; the premium of Brent over WTI ranged between $7 and $8.…
Despite the less than impressive financial news regarding the progress of the U.S economy that came out during last week the equity market continued to rally, while gold and silver prices declined. Last week, the U.S retail sales inched up by 0.1% during April. On the other hand, Philly Fed…
The future price of natural gas (short term delivery) zigzagged with an unclear trend during last week only to rally on a weekly scale. By the end of the week the Henry Hub future (short term delivery) rose by 3.71%. According to the recent EIA natural gas storage report, the…
The prices of gold and silver fell again yesterday. For gold this was the sixth consecutive business day in which it has declined. For silver it was the third straight day. Their decline coincided with the devaluation of the Euro and Aussie dollar against the USD. Yesterday, several U.S reports…
