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 investment. Last week, U.S retail sales edged up by 0.1% during April. On the other hand, Philly Fed index fell…
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 stir up the markets. Next week several reports, speeches and publications may affect the financial markets. These include: minutes of…
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. According to the recent EIA update, oil stockpiles increased by 2.6Mb. Moreover, imports, refinery inputs and production increased during last…
Gold and silver changed direction and fell during last week. Their tumble coincided with the fall of other commodities such as oil, natural gas and leading “risk related currencies” such as Euro and Aussie dollar against the USD. Last week, the Reserve Bank of Australia decided to reduce its cash rate by 0.25pp to 2.75%. This news may have contributed to the fall of the Aussie dollar, which dragged along…
Major commodities including oil, natural gas, gold and silver declined during most of last week. Leading “risk related currencies” such as the Aussie dollar and Euro also fell last week. Will commodities rally this week? In the upcoming week several reports, events and speeches may affect the financial markets. These include: Bernanke’s speech, U.S CPI, Philly fed survey, EU GDP for Q1 2013, U.S housing starts, Canada’s manufacturing sales, Germany’s…
The prices of crude oil (both WTI and Brent) didn’t do much during last week: WTI increased by 0.45%; Brent oil slipped by 0.27%. As a result, the gap between the Brent oil and WTI shrank again; the premium of Brent over WTI ranged between $7 and $8. According to the latest EIA report, oil stockpiles rose by 3.5Mb. Moreover, refinery inputs and production increased while imports fell during last…
Gold and silver slightly rose during last week. Their rally coincided with the recovery of other commodities such as oil and leading “risk related currencies” such as Euro and Aussie dollar against the USD. Last week, the FOMC and ECB decided on any changes to their respective monetary policy. The ECB decided to cut its interest rate by 0.25pp to 0.5%. The FOMC kept its policy unchanged including its $85…
The prices of leading commodities including crude oil and gold moderately rallied during last week. Despite the recent ECB rate cut leading “risk related currencies” such as the Euro and Aussie rose during most of last week. In the upcoming week several reports, decisions and speeches may affect the financial markets. These include: Bernanke’s speech, Chin’s CPI, Spain’s employment update, Australia’s retail sales, Canada’s employment report, GB manufacturing conditions, G7…
The prices of crude oil (both WTI and Brent) rose again during most of last week: WTI increased by 2.81%; Brent oil, by 1%. As a result, the difference between the Brent oil and WTI shrank again; the gap between Brent and WTI ranged between $8 and $9. According to the latest EIA report, oil stockpiles also changed course and sharply rose by 12.3Mb. Moreover, imports, and production increased while…
Gold and silver changed course and rallied during last week. Was the recent rally a correction to the plunge in precious metals prices from the previous week? Was it a shift in market sentiment? Or was it a short term rally that will soon change course again? Along with gold and silver, other commodities also rose including the price of oil. The rally of commodities along with the weak performance…
