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VRS - who has written 47404 posts on Opalesque Commodities Briefing.


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Silver Miners ETFs Can Keep Soaring

Posted on 19 August 2016

The Global X Silvers Miners ETF and the PureFunds ISE Junior Silver Small Cap Miners/Explorers ETF are two of this year’s best-performing non-leveraged exchange traded funds. In fact, SILJ is this year’s best-performing non-leveraged ETF and that contest is not even close.

Why Leveraged ETFs Are Horrible Investments

Posted on 19 August 2016

Exchange-traded funds have surged in popularity in recent years. As they’ve gained traction, they’ve also become more diverse, and one of the more high-profile ETF types to emerge has been the leveraged ETF.

Assets Invested in ETFs/ETPs Listed Globally Reached Record By June 2016

Posted on 19 August 2016

ETFGI, the leading independent research and consultancy firm on trends in the global ETF/ETP ecosystem, today reported assets invested in ETFs/ETPs listed globally reached a new record high US$3.343 trillion at the end of July 2016.

Currency conversion: where to get more euros for your pound

Posted on 19 August 2016

It’s emerged that some bureaux de change are now charging more than £1 for a euro. Currency exchange desks at two UK airports were offering just 99 cents for a pound this week, according to currency specialist Caxton FX. It is the first time the exchange rate has been this bad in three years.

Mongolia lifts rates to halt currency slide

Posted on 19 August 2016

Public spending cuts ordered after tugrik tumbles to record low against dollar. Mongolia raised interest rates to 15 per cent from 10.5 per cent and froze some public spending on Thursday after the tugrik hit a record low against the US dollar following 23 days of weakening.

Brexit Concerns Prompt Cut in BNEF’s Outlook for Carbon Prices

Posted on 19 August 2016

Uncertainty over Britain’s future participation in the European Union carbon market led Bloomberg New Energy Finance to cut its outlook for pollution prices by 14 percent following the decision by U.K. voters to leave the EU.

China’s Carbon Markets: How Beijing Is Leading With Cap-and-Trade

Posted on 19 August 2016

China was deathly hot and fevered with excitement about the Olympics, which it was about to host. I was there for a celebration of another sort: the ceremonial signing of an agreement I had helped negotiate to create the Tianjin Climate Exchange (TCX), the first of China’s seven pilot carbon markets.

The Global Economy has a Darker Side

Posted on 19 August 2016

A Paris prosecutor recently called for the former CEO and six senior managers of telecoms provider, France Télécom, to face criminal charges for workplace harassment. The recommendation followed a lengthy inquiry into the suicides of a number of employees at the company between 2005 and 2009.

After years of pain, coal becomes one of the hottest commodities of 2016

Posted on 18 August 2016

Less than a year after the coal industry was declared to be in terminal decline, the fossil fuel has staged its steepest price rally in over half a decade, making it one of the hottest major commodities.

Oil, Metals, and a Rebalancing of Commodities Supplies (Video)

Posted on 18 August 2016

David Wilson, director of metals research and strategy at Citigroup, and Michael Cohen, head of energy commodities research at Barclays, discuss supply growth in the metals and energy markets, . They speak with Bloomberg’s Alix Steel on “Bloomberg ‹GO›.”.

Crude prices may stay near $50/bbl on supply worries: JP Morgan

Posted on 18 August 2016

Ian Hui of JP Morgan Asset Management says there is talk of the Organization of the Petroleum Exporting Countries (OPEC) considering a production freeze which might weigh down crude supply numbers. Expectations of changes in supply are more likely to be driving crude prices higher right now feels Ian Hui of JP Morgan Asset Management.

Oil futures end higher after a choppy session

Posted on 18 August 2016

Oil futures finished higher Wednesday, getting a lift from bigger-than-expected declines in U.S. supplies of crude and gasoline as well as a retreat in the dollar following minutes from the Federal Reserve’s July meeting.

Saudi Arabia has oil traders hanging on every word

Posted on 18 August 2016

Kingdom offers a reminder that well-chosen words can move the oil market. Central bankers have long understood that a few well-placed words can wield nearly as much power as pulling the actual levers of monetary policy. It is a lesson that Opec and Saudi Arabia has started to heed.

Oil Era Not Over Yet, OPEC Will Help Rebalance Market

Posted on 18 August 2016

It is premature to say that the oil era is nearing its end, Saudi researcher and economic adviser Yousef Al-Zamel told Sputnik. According to him, meetings between OPEC members and non-OPEC producers would help the oil market.

OPEC’s Former Head Says Conditions Right for Oil-Freeze Deal

Posted on 18 August 2016

OPEC is on course to strike an output-freeze deal with fellow oil producers in Algiers next month because its biggest members are already pumping flat-out, the group’s former president said.

Prickly Iran Defies, Then Keeps OPEC Guessing

Posted on 18 August 2016

Iran is trying to make a comeback after years of crushing economic and financial sanctions placed against its energy sector by Western powers over Tehran’s nuclear ambitions.

Gold demand surges amid fears for world economy

Posted on 18 August 2016

Demand for gold jumped in the wake of the Bank of England’s decision to cut interest rates earlier this month, the Royal Mint has revealed. Sales of gold bars and coins jumped by half, while transactions of the precious metal leapt by a quarter as rates were chopped to 0.25 per cent.

Global demand for gold will continue to remain strong, and price higher: Experts

Posted on 18 August 2016

The global economic crisis will continue to drive the demand for gold and silver worldwide. Bullion experts at the India International Gold Convention (IIGC) organized by Foretell Business Solutions unanimously expressed that global demand will continue to remain strong, and price higher.

Here’s One Reason Why Gold Could Soon Skyrocket by 48.15%

Posted on 18 August 2016

If you are looking for the next big trade, look at gold prices. The yellow precious metal is trading at severely low prices, and it may be set to provide massive gains. As it stands, there’s a gold rush in play, and no one is talking about it. We see consumers, investors, and central banks running to buy the precious metal. In the process, they could send gold prices through the roof.

Spectacular Chinese Gold Demand 2015 Fully Denied By GFMS And Mainstream Media

Posted on 18 August 2016

Debunking the Thomson Reuters GFMS Gold Survey 2016 report. New information provides a more detailed perspective on the Chinese domestic gold market. In the Gold Survey 2016 report by GFMS that covers the global gold market for calendar year 2015 Chinese gold consumption was assessed at 867 tonnes.

How to invest in gold bars, bullion and investment funds

Posted on 18 August 2016

There’s been a surge in demand for gold as interest rates fall. Here’s how you can put your money into it and what it might cost. The recent Bank of England Base Rate cut has led to a surge in demand from people wanting to invest in gold, says the Royal Mint.

Premium of zinc over lead retreats after hitting 9-year peak

Posted on 18 August 2016

The premium of the zinc price over sister metal lead is due to extend its decline in coming weeks after touching a high of close to $500 last week, the strongest since 2007. Zinc is expected to struggle to hit fresh peaks as investors worry about possible restarts of closed mines at the same time lead moves into its strongest seasonal period for demand.

The Crash in Iron Prices is Just Weeks Away, Metals Bear Says

Posted on 18 August 2016

Axiom Capital’s Gordon Johnson, a noted bear on iron ore and steel–and the stocks of companies like U.S. Steel (X) and Cliffs Natural Resources (CLF) that produce them–sees a crash in iron-ore prices coming as soon as the next four to eight weeks.

Advisers should think twice before adding volatility ETFs to client portfolios

Posted on 18 August 2016

If your clients are worried about stock market volatility, your first question might be to ask them why. And if you’re considering using a volatility exchange-traded fund to combat volatility, you might ask yourself why as well.

European ETF market hits all-time AUM high

Posted on 18 August 2016

Assets under management in Europe’s exchange-traded funds (ETF) market hit €473.6 billion in July, marking a new record high for the passive investment universe. According to Lipper figures, the July data indicated an increase from the previous high of €452.8 billion, which was achieved in June of this year.

A split euro is the solution for Europe’s single currency

Posted on 18 August 2016

The problems with the structure of the eurozone may be insurmountable. That Europe, and especially the eurozone, has not been doing well since the 2008 crisis is beyond dispute. The single currency was supposed to bring prosperity and enhance European solidarity. It has done just the opposite, with depressions in some countries greater than the Great Depression.

Who Would Win a Currency War? No One

Posted on 18 August 2016

It’s been a year since a sudden, 1.9 percent decline in the Chinese yuan rattled global markets and prompted fears of a global currency war. China has mostly soothed nerves by moderating the renminbi’s swoon since then. But what should really put minds to rest is the knowledge that no one - not even China, which arguably did power its rise, at least in part, on the back of an artificially depressed yuan - could win a true currency war today.

The world’s worst performing currency right now is Mongolia’s

Posted on 18 August 2016

Even Genghis Khan himself might find it hard to conquer this battle. Mongolia’s currency is on its longest losing streak on record as the government grapples to contain an economic crisis.

Norwegian oil firms plan carbon emissions cut in decade to 2030

Posted on 18 August 2016

Norwegian oil and gas companies plan to cut greenhouse gas emissions by 2.5 million tonnes in the decade to 2030 as part of efforts to rein in global warming, the Norwegian Oil and Gas Association said on Wednesday.

Can carbon trading break the Caribbean free of fossil fuels?

Posted on 18 August 2016

To the tourists who support most of their economies, the sunny and wind-swept cluster of 15 island nations that constitute the Caribbean Community — often referred to as CARICOM — might seem like a renewable energy paradise, but the opposite is closer to the truth. This year, island governments and business groups have begun to explore carbon emissions trading and other ways to reduce the heavy and costly burdens of the region’s fossil fuel reliance.

When will China economy bottom out?

Posted on 18 August 2016

China’s economic growth has started to slow down markedly since 2012. And the long-awaited bottoming sign has proved illusive over the past few years. According to a new forecast made in a China Daily article, the growth slowdown could come to an end in one or two years. But it remains to be seen if the prediction proves correct.

End of the Affair as Chinese Commodity Traders Exit Market

Posted on 17 August 2016

Chinese traders are falling out of love with commodities. Aggregate volumes across the nation’s three biggest exchanges have shrunk to the lowest level in six months, a shadow of the fevered trading in March and April when retail investors charged into markets for everything from iron ore to cotton, driving up prices and stoking fears of a bubble.

Goldman Sachs: Look at exports and commodities

Posted on 17 August 2016

Those looking for proof of China’s economic rebalancing act should stay clear of macro data and focus instead on micro evidence, according to Goldman Sachs. The investment bank released a research note Tuesday, detailing how changes in the composition of exports and commodity consumption are the most useful metrics to evaluate how Beijing is moving toward a consumption-led model, the so-called new economy.

Commodity bounce fails to spark Europe markets

Posted on 17 August 2016

European stocks finished firmly in the red on Tuesday, as strong performances in oil, mining stocks and sterling failed to electrify markets. The pan-European STOXX 600 wavered throughout trade, ending down 0.79 percent provisionally. Most sectors closed in negative territory; however basic resources ended up 1.3 percent.

Will OPEC agree to freeze output in Sept? Kemp

Posted on 17 August 2016

OPEC and non-OPEC countries are again flirting with the idea of a production freeze to accelerate oil-market rebalancing, according to recent statements by several oil ministers. “Rebalancing is already taking place,” Saudi Energy Minister Khalid Al-Falih observed in comments published on Saturday, which had already leaked on Thursday.

Iran Undecided on Joining OPEC Meeting

Posted on 17 August 2016

Iran has made no decision about joining an OPEC meeting on oil output next month and doesn’t expect to reach the production levels that its government has previously said are required before it can make an output agreement, an oil-ministry spokeswoman said Tuesday.

Drop in Venezuela investment could have impact on world’s oil supply

Posted on 17 August 2016

Venezuela’s oil crisis goes far beyond a simple problem of low prices and threatens the world’s supply of oil because of mismanagement of the country’s state-run oil company, a new report from Columbia University concludes.

OPEC production may slip in August after July’s record-high, warns UBS

Posted on 17 August 2016

OPEC crude oil production hit an eight-year peak in July, but may fall this month amid turmoil in major member countries, UBS said on Tuesday.

Is George Soros Calling a Top in Gold?

Posted on 17 August 2016

George Soros is getting out of gold. The billionaire investor jumped back into trading this year with a big bet on the precious metal, buying up a 19-million share stake in the world’s largest gold producer, Barrick Gold But in the second quarter, Soros Fund Management sold the majority of his shares in the gold miner and his full stake in mining company Silver Wheaton, according to regulatory filings.

What’s Currently Driving Gold?

Posted on 17 August 2016

Precious metals have seen a tremendous rise in price, mostly due to a lower possibility of a US interest rate hike. Added uncertainty in the Markets due to the Brexit vote and other start-of-the-year issues such as the crude oil rout and the Chinese turbulence also played on gold. As a result, these triggered the haven appeal.

TD Securities: Safe-Haven Interest In Gold To Continue

Posted on 17 August 2016

TD Securities looks for any downward correction in gold to be contained and for safe-haven buying to continue. The metal has risen sharply this year but has been range-bound lately, with market worries about potential Federal Reserve rate hikes returning, causing some funds to liquidate positions, TDS says.

Looking to precious metals? Watch these trends

Posted on 17 August 2016

The depreciation of the Chinese renminbi and its impact on precious metals has gone largely unnoticed, says Scott Vali, vice-president of equity for CIBC Asset Management. But, “[China] continues to depreciate that currency, and that’s a deflationary shock [to] the global system,” says Vali, who manages the Renaissance Global Resources Fund.

Mining sector outlook improves despite losses and Brexit

Posted on 17 August 2016

With mining company BHP Billiton reporting a record loss for the past year, you could be forgiven for thinking it was all doom and gloom for the sector. But all is not as it seems. In fact, data from the FTSE 100 shows quite the opposite. The seven mining companies account for close to 5.5% of the value of the index.

BHP makes record loss after commodity rout and Brazil disaster

Posted on 17 August 2016

BHP Billiton, the world’s biggest miner, has reported a record loss of $6.4bn (£4.9bn) following a fatal dam disaster in Brazil, a slump in the price of commodities, and a bet on fracking in the US. Miners are struggling due to a sharp fall in commodity prices, sparked by concerns that a slowdown in the Chinese economy could leave a surplus of raw materials.

European ETF assets under management hit record in July-Lipper

Posted on 17 August 2016

Assets under management (AUM) at European exchange-traded funds (ETF) hit a record high at the end of July, according to Thomson Reuters Lipper data, helped by a rebound in regional markets. Lipper data showed that assets under management (AUM) rose to 473.6 billion euros ($534 billion) at the end of July from 452.8 billion at the end of June, underscoring the growing popularity of low-cost passive investment vehicles among institutional as well as retail investors.

Gold ETF Speculators Brace For Speed Bumps

Posted on 17 August 2016

Gold has been on fire in 2016. While the commodity rallied at the start of the year as stock markets sold off, it more recently enjoyed its “safe-haven” status in the wake of the “Brexit”-fueled broad-market plunge in late June. Additionally, the Federal Reserve’s hesitancy to raise interest rates has helped boost the malleable metal to levels not seen since 2014.

Iceland prepares to end currency controls

Posted on 17 August 2016

Iceland plans to significantly ease capital controls for individuals and companies, marking the end of a regime that was described as the crutch for the Icelandic economy following the 2008 crisis.

Nash and Wray - China must act boldly on currency

Posted on 17 August 2016

It has been a year since China unexpectedly devalued the yuan, setting off weeks of alarm in global financial markets. Companies scurried to repay foreign currency debts, residents moved to diversify their savings abroad and traders struggled to figure out how the currency should be valued.

Mexico to launch carbon cap-and-trade market pilot

Posted on 17 August 2016

Mexico reportedly set to launch 12-month pilot ETS for up to 60 companies in November ahead of full scheme in 2018. Mexico is preparing to launch a 12-month pilot cap and trade scheme in November ahead of an expected full rollout of a national carbon market in 2018, according to media reports.

Former Labor minister Patrick Conlon urges carbon price to fix electricity system

Posted on 17 August 2016

A senior Labor figure is urging a carbon price on electricity to lower household bills by kickstarting investment in new-generation power plants. Former state energy minister Patrick Conlon, writing in today’s Advertiser, warns Australian electricity consumers are at the mercy of big, old, dirty and cheap coal-fired power plants and failure to impose a carbon price is thwarting new investment.

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