Natural gas price continued their sharp downward trend during last week. The recent natural gas storage report may bring natural gas prices further down because for the first time in 16 weeks there has been an injection which could mean the unofficial end of the winter season. Since natural gas storage is still very high – over 50% above the levels from the 5 year average, it doesn’t look well…
Today, the U.S. Census Bureau updated on the number of new homes sales in the U.S during February 2012: new homes sales slightly declined again compared with the number of homes sold during January 2012. According to the recent report, during February 2012 the annual rate of number of U.S new home sales reached 313,000 (seasonally adjusted); this figure is 1.6 percent below the revised annual rate in January 2012…
Gold and silver prices continue to change directions from gains to losses. Yesterday they have ended in the green. Will this no clear trend continue today? Currently gold and silver price are falling. Today, U.S. Jobless Claims will be published (update: US jobless claims declined again), ECB President Draghi will give a speech, Bernanke will also give a speech, Canada’s retail sales report will be released along with EU Manufacturing…
Gold and silver prices continue to zigzag and after they had decreased on Tuesday, they bounced back yesterday. Crude oil traded with mixed trend as WTI was traded up while Brent slightly declined; natural gas future also rose yesterday. The Euro moderately decreased again against the U.S. dollar. Here is a summary of the changes in precious metals and energy commodities for March 21st, 2012: Precious Metals: Gold price slightly…
Gold and silver prices sharply declined yesterday along with the Australian dollar on speculation regarding the economic growth of China and consequently Australia. Currently gold and silver price are rising. Today, Great Britain MPC Meeting Minutes will be published, U.S Existing Home Sales, Japan’s Trade balance and China flash Manufacturing PMI. Here is a short outlook on gold and silver prices for Wednesday, March 21st: Gold and Silver– March Update…
Gold and silver prices changed direction again and after they had increased on Monday, they sharply fell yesterday. Crude oil prices also sharply declined; natural gas future edged up yesterday. The Euro moderately decreased against the U.S. dollar. Here is a summary of the changes in precious metals and energy commodities for March 20th, 2012: Precious Metals: Gold price sharply fell by 1.22% to $1,647; Silver price also decreased…
There are reports that Saudi Arabia will raise its oil production in case the situation between Iran and the West will further escalate. Will Saudi Arabia come through on this promise? And more importantly, will it keep the crude oil prices from rising in case of an Iran war? There are reports that Saudi could raise its oil production by as much as 25% in case the situation with Iran…
Gold and silver prices started off the week rising along with many other commodities prices and major currencies including the Euro. But there is still no clear path for gold and silver prices as both zigzagged from gains to losses on daily basis in the past four business days. Currently the price of gold and silver are falling. There are still widespread strikes of gold jewelers in India because of…
Gold and silver prices bounced back yesterday after they have traded down on Friday. Crude oil prices moved in different directions as WTI was traded up and Brent oil was traded down; natural gas future rose yesterday. The Euro increased against the U.S. dollar. Here is a summary of the changes in precious metals and energy commodities for March 19th, 2012: Precious Metals: Gold price edged up by 0.69% to…
Gold and silver were traded down again on Friday and thus completed a negative performing week. Will this downward trend continue this week? There are reports that following the sharp drop in gold and silver prices, the bets on rising gold price dropped to the lowest level since January 2012. Currently the prices of gold and silver are rising. Today, Australia’s Bank Policy Meeting will be held. Here is…
The FOMC pledged a couple of months back to keep the currently low interest rates at least until late 2014. Will the Fed keep its pledge at all cost? What might trigger the Fed to flip-flop on its pledge and raise the interest rate before 2014? And finally what will this unlikely scenario do to the price of gold? First, I would like to stress that I don’t think it…
Here is a short overview of the recent developments in gold and silver prices during the week of March 12th to March 16th and an outlook for the upcoming week of March 19th to March 23rd; this includes a short description of the main news items, decisions and events that may have influenced precious metals traders during last week; in this analysis I use charts and a fundamental analysis to…
