Gold and silver prices took a sharp turn and sharply rose yesterday. Gold recorded the sharpest single day gain this year (UTD). The Philly Fed Index tumbled down to -5.8 in May; this news may have rallied bullion prices but traded down U.S stock indexes and oil prices. This news along with the recent minutes of the FOMC meeting from April may have rekindled the speculation around QE3. On...
Gold and silver prices tumbled down again during yesterday along with other commodities prices. The new elections in Greece will be held on June 17. In the meantime the ECB temporarily stopped lending to several Greek banks. Did the minutes of the recent FOMC meeting suggest another QE program...
Natural gas prices continued their rally during most of the week. I have already talked about the recovery of natural gas prices and think it’s a little over blown. The natural gas storage rose again at a slower pace than a year earlier. The supply of natural gas edged...
Today, the fifth survey of 2012 for the Philly Fed Manufacturing Index for May was published: this survey estimates the U.S. manufacturing conditions changed direction from growth to contraction during May; the Philly Fed index tumbled down from +8.5 in April to -5.8 in May. Indexes of prices also...
In this week’s petroleum and oil weekly update done the Energy Information Administration, it was stated that the current crude oil inventories located at the Cushing, Oklahoma storage hub are at a record high levels of 45.1 million barrels. The total U.S oil stockpiles slightly rose during the previous...
The recent news from Greece is that there will be elections on June 17th. The housing starts rose by 2.6% in April. This news along with the recent developments in Europe may have been among the factors to further drag down gold and silver prices. Crude oil price (WTI)...
Gold and silver prices continued their downward trend during yesterday’s trading despite the slightly positive news of the higher than expected growth rate of Germany’s GDP in the Q1 2012 (a growth rate of 0.5%); the news of the new elections in Greece to be held in June raised...
The recent developments in Europe including the higher than expected growth rate of Germany’s GDP by 0.5%, and the news that Greece is heading towards another elections, left the Euro falling again against the USD. Gold and silver prices continued their slow paced fall during yesterday’s trading. Crude oil...
According to the latest U.S. Census Bureau report about the new residential construction statistics for April 2012 there was an increase in housing starts but a decrease in building permits. Privately owned Housing starts rose in April 2012: the seasonally adjusted annual rate settled at 717,000 compared with 699,000...
The Bureau of Labor Statistics published yesterday the recent report of the U.S CPI for April 2012. According to the publication the consumer price index remained unchanged and in annual terms the US CPI rose by 2.3%. The consumer price index sans food and energy edged up by 0.2%...
Gold and silver prices declined again yesterday and thus both metals were traded down in eight out of the ten business days in May (so far). The speculation around the next move in the EU following the shift in the political climate in Greece keeps the Euro weak and...
Gold and silver prices continued their downward trend and started off the week the same way they have ended the previous one- falling. Other commodities also fell including crude oil (WTI) and natural gas future. Finally, the Euro also sharply declined against the USD; other currencies such as the...
