Sun, Apr 20, 2014
A A A
Welcome kbr175@gmail.com
RSS

Commodities Briefing - Category | People more

John Paulson’s faith in gold unshaken despite ETF sale

Posted on 16 August 2013 by VRS  |  Email |Print

The hedge fund run by John Paulson, one of the world’s highest-profile gold bulls, has sold more than half its shares in the largest exchange traded fund backed by the metal, according to a regulatory filing.
However, Paulson & Co offset much of its sale of about 1.1m ounces of bullion held in SPDR Gold Shares in the second quarter by buying gold swaps on the over-the-counter market, according to a person familiar with the matter………………………………………..Full Article: Source

Bernanke tells congress: I don’t really understand gold

Posted on 19 July 2013 by VRS  |  Email |Print

While Ron Paul is no longer part of the Congressional committees that grill Ben Bernanke twice a year, the Fed Chairman was forced to answer questions about gold on Thursday again. Asked about the falling price of gold, which is down nearly 25% this year, Bernanke admitted he doesn’t understand the yellow metal.
“No one really understands gold prices,” Bernanke told the Senate Banking Committee, adding he doesn’t portend to either………………………………………..Full Article: Source

Jim Rogers: Why gold broke its bull run

Posted on 17 July 2013 by VRS  |  Email |Print

After 12 long years of being the darling commodity, gold is finally showing signs of mortality, as the precious metal has lost more than 20% in 2013. Though many felt the bull run, which included a dozen consecutive winning years, would continue with the Fed’s easing policy, the metal has finally succumb to the pressures around it.
While many continue to try and pinpoint the reason behind gold’s steep drop, commodity legend Jim Rogers points the blame to a popular emerging market. As Rogers notes, India is the largest buyer of gold in the world, giving them a fair amount of influence over the price of the metal. As gold continued to skyrocket in price, so too did India’s trade deficit, the largest drivers of which are gold and oil………………………………………..Full Article: Source

Gold prices could still correct 50pct: Rogers

Posted on 12 July 2013 by VRS  |  Email |Print

Investors can expect to see more volatility in gold prices in the next two years as the yellow metal forms a “complicated bottom,” said famed investor and author Jim Rogers. Rogers was one of the keynote speakers at FreedomFest, an annual convention that looks to gather free minds for open discussions on politics and the economy.
Rogers said he doesn’t think that gold has found a bottom despite the fact that prices managed to rally after comments from Fed Chairman Ben Bernanke, who said on Wednesday that a “highly accommodative policy is needed for the foreseeable future.”……………………………………….Full Article: Source

How to invest like Jim Rogers

Posted on 12 July 2013 by VRS  |  Email |Print

Making millions and retiring in your 30s is every investor’s dream. But for legendary commodities trader Jim Rogers, it was just the beginning of a career on Wall Street that has spanned six decades and produced a net worth in the hundreds of millions.
Rogers’ amazing success was built on his uncanny ability to spot long-term trends well before the masses, earning him a reputation as a contrarian. But now, after “retiring” at 37, scoring huge gains in commodities in the early 2000s and correctly predicting the financial and housing crisis, Jim Rogers has his sights set squarely on what he calls one of the greatest opportunities he has ever seen………………………………………..Full Article: Source

Is Vladimir Putin building a new OPEC?

Posted on 10 July 2013 by VRS  |  Email |Print

For years, natural gas has been a relatively regional product, and producers that had access to major markets via pipelines were the only game in town. The prospect of liquefied natural gas, or LNG, exports from new places all over the world is turning that logic on its head, and so the former big bosses of natural gas are looking to maintain their prominence through an OPEC-style cartel.
Let’s find out why these natural gas giants are nervous and discover what an organization like OPEC could mean for the natural gas industry………………………………………..Full Article: Source

Commodities Guru Jim Rogers warns gold price could dip to $900/ounce

Posted on 09 July 2013 by VRS  |  Email |Print

The worse has not yet come for the gold market. Commodities expert Jim Rogers warned that the price of the yellow metal could fall to $900 an ounce.
When gold was trading at $1,900 in the fall of 2011, Mr Rogers correctly forecast the price of the safe haven would go down to $1,200. It did on June 27. He joins another gold expert, Nouriel Roubini, in foreseeing gold will further crash………………………………………..Full Article: Source

Gold correction is over, suggests Deutsche Bank, but Jim Rogers disagrees

Posted on 09 July 2013 by VRS  |  Email |Print

Monday produced a lot of gold chatter. One of the standouts came from Deutsche Bank, which said the gold correction may just about be over. Gold has tumbled more than 30% from a September 2011 peak above $1,900 to under $1,300 presently. Gold was up about $20 on Monday, rebounding from a selloff late last week. A short-covering bounce and some safe-haven demand on Egypt unrest helped, says Kitco’s Jim Wyckoff.
So here’s the Deutsche Bank rationale: There have been worse gold fallouts, such as that of 1980-81. During that time, gold hit a record $850, plunged to between $300 and $400 and stayed there for years before resuming its upward trend………………………………………..Full Article: Source

Lawmakers cite risk of banks in commodities in Bernanke letter

Posted on 04 July 2013 by VRS  |  Email |Print

Four Democratic lawmakers sent a letter to Federal Reserve Board Chairman Ben S. Bernanke asking if investments in the commodities business by Goldman Sachs Group Inc. and JPMorgan Chase & Co. (JPM) pose risks to the economy.
Representatives Alan Grayson of Florida, Raul Grijalva of Arizona, John Conyers of Michigan and Keith Ellison of Minnesota also asked Bernanke in the letter to explain the legal basis for allowing the banks to hold commodity-related assets………………………………………..Full Article: Source

The commodities empire of Brazil’s richest man looks a bit shaky

Posted on 03 July 2013 by VRS  |  Email |Print

Flamboyant Brazilian commodities billionaire Eike Batista’s (pawall) empire is under assault. The latest blow was Monday’s announcement that his oil company would probably close its only productive wells next year (paywall).
OGX is one of the six publicly-listed corporations he runs through his holding company EBX. OGX shares have lost nearly all of their value over the last year……………………………….Full Article: Source

Putin calls for single pricing of oil

Posted on 03 July 2013 by VRS  |  Email |Print

Russia’s President Vladimir Putin has called for a single-pricing model for gas production. Speaking at the Gas Exporting Countries Forum (GECF), whose members represent 60% of the world’s gas reserves, he called for a commonly agreed price formation for gas, similar to the OPEC agreements on oil pricing.
Speaking at the GECG, which continues on Tuesday and which was also attended by Venezuelan President Nicolas Maduro and Iran’s leader Mahmoud Ahmadinejad, he said: “I believe that we need to go even further, cooperate even more closely and consolidate our efforts to effectively protect gas exporting countries’’ interests in order to strengthen the competitiveness of gas as a promising and clean fuel.”………………………………Full Article: Source

Anglo American chief fears China cash crunch will hurt commodities demand

Posted on 28 June 2013 by VRS  |  Email |Print

The new chief executive of Anglo American PLC said he fears a cash crunch in China will curb investment in the world’s second-largest economy, hurting commodities demand at a time when mining companies are grappling with high costs and low prices.
In an interview with The Wall Street Journal, Mark Cutifani said the fallout from Beijing squeezing the Chinese financial system as a warning to overenthusiastic lenders was a concern, though he added policy makers needed to act swiftly to prevent a credit bubble………………………………………..Full Article: Source

‘King of commodities’ dies in Switzerland, aged 78

Posted on 27 June 2013 by VRS  |  Email |Print

Marc Rich, the trader known as the “King of Commodities” whose controversial 2001 pardon by President Bill Clinton just hours before he left office unleashed a political firestorm of criticism in 2001, died on Wednesday. He was 78.
Rich died in Switzerland, where he lived, according to his Israel-based spokesman Avner Azulay. He did not give further details, but said Rich would be buried in Israel on Thursday………………………………………..Full Article: Source

Marc Faber: More S&P downside, commodities ‘horrible’…except gold

Posted on 24 June 2013 by VRS  |  Email |Print

With the S&P 500 SPX 0.27% down 2.4% after the Fed laid it on the line, it shouldn’t come as too much of a surprise to see the bears out there growling away. Noted contrarian Marc Faber told CNBC on Thursday that he sees further downside for the S&P.
“…not because of Fed’s statements because, like always, they hedged their bets in the sense that this tapering off would not neccesarily stop. Mr Bernanke said if the economy does not improve along the lines that we expect we will provide additional support. I think the markets are worried about something else,” says the publisher of the GloomBoomDoom report………………………………………..Full Article: Source

Commodity Futures Trading Commission faces top-level shake-up

Posted on 19 June 2013 by VRS  |  Email |Print

In the past month bankers and lawyers from Citigroup, Goldman Sachs and JPMorgan Chase have streamed into a dark brick Washington office building where the future of finance is being shaped.
The high-powered visitors to the home of the Commodity Futures Trading Commission testify to its rise from an obscure US government agency to a global watchdog of financial derivatives, the scandal-hit Libor lending benchmark and physical commodities from oil to silver………………………………………..Full Article: Source

Serge Schoen resigns as CEO of Louis Dreyfus Commodities

Posted on 18 June 2013 by VRS  |  Email |Print

Serge Schoen, chief executive officer of Louis Dreyfus Commodities, decided to resign with effect from the end of this month, the company said.
Ciro Echesortu, the chief operating officer and head trader since 2009, was appointed the new CEO, Louis Dreyfus said in a statement e-mailed today. Schoen will join the parent company, Louis Dreyfus Holding B.V., in an advisory capacity and will remain a member of the supervisory board of Louis Dreyfus Commodities Holdings, it said………………………………………..Full Article: Source

Shale boom curbing OPEC’s grip as Saleri sees oil capped at $120

Posted on 11 June 2013 by VRS  |  Email |Print

Technological advances to harness shale resources will curb OPEC’s influence in the oil market and cap prices at $120 a barrel, said Nansen Saleri, former head of reservoir management at Saudi Arabian Oil Co.
The boom in North American oil output could be replicated in Russia, China and Brazil as new extraction techniques enable the development of as much as 9 trillion barrels in unconventional reserves, said Saleri, who is now chief executive officer of Houston-based Quantum Reservoir Impact………………………………………..Full Article: Source

IEA’s Didier Houssin: the world’s energy future is not hopeless

Posted on 07 June 2013 by VRS  |  Email |Print

As part of an institution that is raising the alarm about the future of the planet, you would expect Didier Houssin, director of sustainable energy policy at the International Energy Agency (IEA), to be gloomy. “Scaring people is not always a good strategy,” he says. “It’s important to explain that there are solutions, the future is not hopeless.” He concedes that the situation “is not rosy”, but “there are some positive examples and we need to learn from them”.
Some clean technologies are progressing fast, with developments in electric vehicles boding well for a decarbonised transportation system, for example, and people can make a big impact with some simple changes in their lifestyle……………………………………Full Article: Source

London Metal Exchange chief to quit after Hong Kong sale triumph

Posted on 07 June 2013 by VRS  |  Email |Print

Martin Abbott quit as chief of the London Metal Exchange (LME) on Thursday, six months after triumphantly steering a sale to Hong Kong owners of the world’s biggest marketplace for materials such as copper and zinc.
While admirers and critics credit him for persuading the 137-year old London institution’s fractious shareholders to accept the $2.2 billion takeover by Hong Kong Exchanges and Clearing (0388.HK), he leaves boiling controversy over an LME warehouse system that constantly frustrates industrial users……………………………………Full Article: Source

Roubini the biggest bear on gold prices, but not alone

Posted on 05 June 2013 by VRS  |  Email |Print

Although Roubini made headlines on Monday with his forecast that gold will drop to $1,000 an ounce by 2015, he is not the only bear in the marketplace. A few firms have updated their forecasts and expect prices will continue to drop.
By far Roubini, nicknamed Dr. Doom, is the most bearish in his predictions; on Saturday he published a report highlighting six reasons why prices would fall to $1,000 by 2015………………………………………..Full Article: Source

Long-term bull market in commodities is not yet over: Jim Rogers

Posted on 04 June 2013 by VRS  |  Email |Print

Global equity markets have been rattled by the comments of the US Federal Reserve that it might wind down the $85-billion-a-month bond-buying programme. On the other hand, investors in the commodity space, especially in gold and crude oil, have seen the value erode with the prices of these two commodities on a downward spiral.
I think the bull-run in commodities will continue and what we are seeing now is a long overdue correction. In all bull markets, there are corrections and it does not mean that it has come to an end. We have seen that in the equity bull markets………………………………………..Full Article: Source

Six reasons why the gold rush is over - Nouriel Roubini

Posted on 04 June 2013 by VRS  |  Email |Print

As a Devil’s Advocate writing a contrary opinion to those who are convinced that the gold price will soon resume its upwards trajectory, Economist Nouriel Roubini has few equals. Indeed to the ardent gold believer Roubini may well be considered the Devil himself, rather than just an Advocate for the Satanic master.
In his latest opinion on gold, Roubini pulls few punches, although he does condescend at the end that the gold price will be volatile and could still temporarily move higher in the next few years. But he qualifies this in saying that the overall trend will be lower over time as the global economy mends itself. “The gold rush is over”, he says and predicts gold falling towards $1,000 by 2015………………………………………..Full Article: Source

Economist Nouriel Roubini forecast gold prices to plummet to $1,000 before end of 2015

Posted on 03 June 2013 by VRS  |  Email |Print

Economist Nouriel Roubini, in a fearless forecast on Project Syndicate, projected that the price of gold would likely plummet to about $1,000 before the end of 2015. He attributed the likely further plunge of gold prices to:
1. Gold spiking during extreme crises, but the crises days are now over. 2. A risk of high inflation is the period that gold does well. 3.Because of the recovering economy, investors are not interested in holdings that pay no dividends………………………………………..Full Article: Source

Jim Rogers: The commodities long term bull market continues

Posted on 29 May 2013 by VRS  |  Email |Print

Silver prices have slumped to their lowest level since September 2010 and gold prices are down 18% year-to-date leading many market observers to declare that the super-rally in commodities is over.
Jim Rogers, the legendary investor and Chairman of Rogers Holdings, says the commodities bull market continues. He calls the latest slump in prices a correction. “I still don’t see massive new supply coming into the market which will keep prices down,” he said. Rogers correctly called the commodities bull market that began in 1999 and the housing slump of 2007-2008 well before either occurred……………………………………Full Article: Source

Hedge fund boss Baha sees gold at $3,000-$5,000

Posted on 29 May 2013 by VRS  |  Email |Print

Christian Baha, the head of Austrian fund firm Superfund and representative of the hedge fund industry in Oliver Stone movie Wall Street 2: Money Never Sleeps, is predicting that the gold price could rise to between $3,000 and $5,000 over the next five to 10 years.
Baha, who says he has more than half his personal wealth in gold and silver, either physically or in units in Superfund funds denominated in the precious metals, believes that an unprecedented phase of quantitative easing by central banks is driving a bubble in government bonds, but that gold offers real value……………………………………Full Article: Source

Opec faces deadlock over secretary-general

Posted on 28 May 2013 by VRS  |  Email |Print

Saudi Arabia and Iran face off at Friday’s Opec meeting – not about oil prices and supply, but over the leadership of the cartel of oil producers.
The office of the Opec secretary-general is often seen as largely ceremonial, but its importance cannot be overstated with oil prices still hovering above $100 a barrel. Abdalla El-Badri, the secretary-general, has been forced already to extend his tenure because Riyadh and Tehran have failed to agree on a successor…………………………………..Full Article: Source

Hong Kong commodities-exchange head resigns from AIA Board

Posted on 28 May 2013 by VRS  |  Email |Print

The chairman of the recently closed Hong Kong Mercantile Exchange and a close ally of Hong Kong leader Leung Chun-ying has resigned as an independent nonexecutive director of AIA Group Ltd., the insurer said Sunday.
AIA said Barry Cheung, who stepped down from all public positions Friday night, resigned “in order to attend to other commitments.” Government officials say he is under police investigation amid a probe on suspected irregularities at the commodities exchange, which was founded in 2008 but has struggled to get off the ground…………………………………..Full Article: Source

Australia: Treasury ’surprised’ by commodities slump

Posted on 22 May 2013 by VRS  |  Email |Print

Treasury secretary Martin Parkinson concedes his department has struggled to keep pace with a ‘‘tumultuous’’ decade for the Australian economy. Addressing an economists’ lunch in Sydney, Dr Parkinson said the difficulty Treasury and other economic forecasters had had was predicting the path of global commodity prices, the exchange rate and capital gains.
‘‘While our forecasts for the real economy have held up reasonably well, the same can’t be said of our price forecasts,’’ he told Australian Business Economists. Dr Parkinson said Treasury’s forecasts for employment and wages had been relatively accurate, which meant that for income tax, the largest source of government revenue, they had changed little since last year’s budget……………………………..Full Article: Source

Jm Rogers: The bull market is still on

Posted on 21 May 2013 by VRS  |  Email |Print

Silver prices have slumped to their lowest level since September 2010 and gold prices are down 18% year-to-date leading many market observers to declare that the super-rally in commodities is over.
Jim Rogers, the legendary investor and Chairman of Rogers Holdings, says the commodities bull market continues. He calls the latest slump in prices a correction. “I still don’t see massive new supply coming into the market which will keep prices down,” he said……………………………….Full Article: Source

Gold bear positions reach record as Soros cuts holdings

Posted on 21 May 2013 by VRS  |  Email |Print

Hedge-fund managers are making the biggest ever bet against gold as billionaire George Soros sold holdings last quarter and Goldman Sachs Group Inc. predicted more declines after the longest slump in four years.
The funds and other large speculators held 74,432 so-called short contracts on May 14, U.S. Commodity Futures Trading Commission data show. That’s the highest since the data begins in June 2006 and compares with 67,374 a week earlier. The net- long position dropped 20% to 39,216 futures and options, the lowest since July 2007. Net-bullish wagers across 18 U.S.- traded raw materials rose 1.1% to 588,482, led by gains in hogs, corn and cotton………………………………..Full Article: Source

George Soros did it and gold slid

Posted on 17 May 2013 by VRS  |  Email |Print

The kind of leverage that billionaire investor George Soros has on the psyche of investors is beyond comparison. When he buys gold investors too, when he sells gold investors too. Actions of George Soros heralds the fortunes of gold; in other words, gold’s future is wedded to Soros’ investment decisions. At least that is how it is in the present conditions.
Soros Fund Management LLC cut short its holdings in the world’s largest investment fund, the SPDR Gold Trust by 12% to 530,900 shares as of March 31. This when compared to higher amounts in investment in the fund three months earlier………………………………………..Full Article: Source

Why Peter Grandich is still telling his wife gold will hit $2,000/oz

Posted on 17 May 2013 by VRS  |  Email |Print

A year ago, the technical picture suggested that the market was coming to a major change that could have been several hundred dollars up or down. My brain said it could be down, but my heart said up and I stuck with my heart.
Even after this takedown, I still don’t believe that the secular bull market that’s been ongoing for 12 years has come to an end. I still believe we’ll have a two in front of the gold price before it ends. We’re going to have to get to $2,000/ounce ($2,000/oz) before there’s any decision on my part about the end of the bull run………………………………………..Full Article: Source

Soros leads gold-stake cuts before bear market drop

Posted on 16 May 2013 by VRS  |  Email |Print

Billionaire investor George Soros joined Northern Trust Corp. and Blackrock Inc. in cutting holdings of exchange-traded products backed by gold before a bear market in prices last month, while John Paulson maintained a stake that lost about $165 million in the first quarter.
Soros Fund Management LLC lowered its investment in the SPDR Gold Trust, the biggest such fund, by 12 percent to 530,900 shares as of March 31, compared with three months earlier, a Securities and Exchange Commission filing showed……………………………………Full Article: Source

Could an oil rally fuel gold prices?

Posted on 15 May 2013 by VRS  |  Email |Print

Jim Rogers recently said in an interview to Morningstar, that he is not disturbed by the recent tumble in gold prices. “Gold had gone up 12 years in a row, without a down year, which is extremely unusual in any asset. Equally important, gold has only had one 30% correction in 12 years.
Again, that is extremely unusual. Most things correct 30-40% every year or two. So the action in gold has been very unique and gold needed a correction. The main thing that caused it, as far as I am concerned, was that the market was ready. It needed it and it is good for gold to have a proper correction,” said Rogers. We agree. At the same time we would like to point out that this has no implications on the short term………………………………………Full Article: Source

Druckenmiller says long commodities rally ending on China

Posted on 09 May 2013 by VRS  |  Email |Print

Stanley Druckenmiller, the billionaire hedge-fund manager who returned an average of 30 percent a year from 1986 through 2010, said the long rally by commodities is over as China switches to consumption-led growth rather than investing in infrastructure.
“We think a decade of commodity demand is over,” he said today at the Ira Sohn Investment Conference in New York. “It’s a poisonous cocktail when you look at commodities going forward.” Druckenmiller, who said in August 2010 that he was returning cash to his clients and would focus on his own investments, is betting against the Australian dollar, which he said will “come down and come down hard.”……………………………………….Full Article: Source

Druckenmiller: Commodities decline just beginning, supply/demand is “deadly”

Posted on 09 May 2013 by VRS  |  Email |Print

Don’t think of the commodities swoon as just a correction after years of outsized gains. The party’s over and the decline is just starting, according to Stanley Druckenmiller. In his Sohn Investment Conference presentation, Druckenmiller said the 2002-2011 gains for commodities were an anomaly and that the declines of the past couple of years are the norm.
Why? China, he said, which embarked on an unprecedented investment program that caused the spike in commodity prices; in one slide, Druckenmiller suggested that 50% of all global demand from 2002 to 2011 came from china………………………………………..Full Article: Source

A day of reckoning is coming for the global commodities glut

Posted on 09 May 2013 by VRS  |  Email |Print

The best investment idea at Ira Sohn 2013 could be all about shorting everything that’s associated with the voracious Chinese demand for commodities, a symptom of policies that attempted to quell–but really just put on hold–the effects of the financial crisis.
Stanley Druckenmiller, former managing director of Soros Fund Management, said commodity producers were fooled in 2008, when the Chinese government injected 4 trillion yuan (at the time, $586 billion) in stimulus into the Chinese economy. That created a false demand for goods and for the raw materials to make them………………………………………..Full Article: Source

Where to invest in 2013: What Jim Rogers is most optimistic about

Posted on 08 May 2013 by VRS  |  Email |Print

Jim Rogers gave us the scoop on his latest interests in agriculture. Rogers pointed to several factors he believes will push agricultural commodities prices much higher in the years ahead.
One factor is demographics. Farmers across the world are aging and it’s not a sector attracting a lot of young career-hunters. Another key reason for higher prices: demand is outpacing supply………………………………………..Full Article: Source

OPEC appoints Saudi in top research post over

Posted on 08 May 2013 by VRS  |  Email |Print

OPEC has appointed a Saudi Arabian candidate as its head of research over an Iranian, OPEC delegates told Reuters on Tuesday following a meeting at the organization’s headquarters in Vienna.
Saudi Aramco’s Omar Abdulhamid was appointed as the head of research, the second most senior post at OPEC after the secretary general, replacing Kuwait’s Hasan Qabazard. The other candidate was Iran’s Hojatollah Ghanimifard. Delegates said that Abdulhamid was personally recommended by OPEC Secretary General Abdullah al-Badri………………………………………..Full Article: Source

Gold may get a break if Paulson, other big funds are flushed out

Posted on 08 May 2013 by VRS  |  Email |Print

John Paulson’s Gold Fund lost 27% in April, according to a report on Bloomberg Tuesday, citing someone familiar with the matter. That’s a chunk of change, and explains why the SPDR Gold fund GLD keeps heading south, says Tyler Durden over at ZeroHedge.
Durden says there may be a gold lining amid signs of major selling from Paulson and others. ”The good news is that once levered players such as Paulson are finally blown out, there is hope that only far more rational, ‘non-weak handed’ players remain at the table,” he says………………………………………..Full Article: Source

Global economy struggling for traction: Richard Yetsenga, ANZ

Posted on 06 May 2013 by VRS  |  Email |Print

The commodities question is a vexing one. To some extent, the fall in commodity prices reflects the large increase in the supply in recent years. We have also seen negative inflation surprises in the United States, China, India and Australia.
So, at its heart what the commodity prices are telling you is that the global economy is struggling for traction. And with effectively unlimited QE in three of the four major economies, we are still struggling to generate a genuine global recovery………………………………………..Full Article: Source

Gold bulls split with Buffett as traders say sell: Commodities

Posted on 06 May 2013 by VRS  |  Email |Print

Hedge funds increased bets on a gold rally by the most in three weeks as central banks signaled no end to economic stimulus, driving prices higher just as analysts and traders turned the most bearish in three years.
The funds and other large speculators raised their net-long position by 19 percent to 54,762 futures and options as of April 30, U.S. Commodity Futures Trading Commission data show. Holdings of so-called short contracts retreated 9.2 percent, the most since March 19. Net-bullish wagers across 18 U.S.-traded raw materials jumped 28 percent to 550,182, the biggest increase in seven weeks, led by gains in soybeans, cocoa and crude oil………………………………………..Full Article: Source

OPEC to try to break deadlock over selecting its next secretary general

Posted on 02 May 2013 by VRS  |  Email |Print

OPEC is again attempting to break the deadlock over selecting its next secretary general, after rivalry between Saudi Arabia and Iran last year prevented a new candidate being named to its top administrative post.
A panel of officials is meeting this weekend at the Vienna headquarters of the Organization of the Petroleum Exporting Countries to discuss criteria for the secretary general post, OPEC delegates said. Abdullah al-Badri’s one-year term in the job ends in December………………………………………..Full Article: Source

‘Dr. Copper is sick’: Dennis Gartman

Posted on 02 May 2013 by VRS  |  Email |Print

The move lower is base metals portends poorly for the U.S. and global economies, commodities trader Dennis Gartman said Wednesday on CNBC. “Dr. Copper Is Sick,” he said, adding that prices for aluminum and zinc were also heading lower. “And they don’t argue for good economic growth.”
On “Fast Money,” Gartman said that while the growing copper inventories in Shanghai, London and the Comex were nothing new, the move in other commodities were cause for concern………………………………………..Full Article: Source

Jim Rogers on gold prices 2013

Posted on 26 April 2013 by VRS  |  Email |Print

With the yellow metal down about 14% this year, wouldn’t it be great to get the scoop from famed investor Jim Rogers on gold prices in 2013- specifically, why they’re down, and if investors should still bet on a long-term gold bull market?
We had a chance to ask Rogers those very questions last weekend. Sunday evening, Money Morning Executive Editor William Patalon III spoke on the phone with Rogers - who was at his home in Singapore - in a wide-ranging discussion about gold, U.S. stocks, commodities and global central banks’ “race to the bottom” - or, as Rogers calls it, “race to insanity.”……………………………………….Full Article: Source

Commodity gurus are just waiting to jump back into gold

Posted on 26 April 2013 by VRS  |  Email |Print

Jim Rogers, who predicted a commodity rally in 1999, said he’s ready to buy gold when it hits bottom, but with prices still climbing after 9 days he may have missed it. Jim Rogers, who predicted a commodity rally in 1999, said he may buy gold if a bear market deepens and prices fall to $1,300 an ounce or below.
Bullion for immediate delivery tumbled to $1,321.95 on April 16, the lowest since January 2011, stoking a frenzy among coin and jewelry buyers from the U.S. to India and Australia. Rogers, the chairman of Singapore-based Rogers Holdings, hasn’t bought any bullion after the slump, he said in an interview………………………………………..Full Article: Source

Citi beefs up commodities with UBS metal exec hires

Posted on 26 April 2013 by VRS  |  Email |Print

Citigroup Inc has hired two former UBS AG base metals executives to its growing metals trading desk as part of the U.S. bank’s expansion of its commodities business, the bank said on Thursday.
Rick McIntire will join as global head of base metals sales and Dylan Morgan has been appointed co-head of base metal trading alongside Tom Parkin. Both were previously at UBS………………………………………..Full Article: Source

Billionaire Paulson says he’s staying the course on gold

Posted on 25 April 2013 by VRS  |  Email |Print

The New York-based hedge fund manager has long stuck by his thesis that gold will someday be a powerful hedge against inflation, and it was no different on the investor call he held, two people who listened to the call said.
John Reade, a partner at Paulson & Co, said that the firm, which oversees about $18 billion, is not veering off its course even as he cautioned that there could be more price fluctuations in the short term………………………………………..Full Article: Source

Jim Rogers: It pays to be worried, and to be skeptical

Posted on 25 April 2013 by VRS  |  Email |Print

If you are invested in the lofty stock markets of the United States or Japan, legendary investor Jim Rogers has a message for you …Euphoric gains always lead to hangover pains – it’s just a matter of when.
“This is artificial, as I’ve [repeatedly] said,” Rogers told Money Morning during an exclusive interview Sunday night. “This is the first time in recorded history where nearly all the central banks in all countries are pumping out lots of money, debasing their currencies, printing money. I’ve never seen this in history, and now we’ve got everybody – or nearly everybody – doing it.”……………………………………….Full Article: Source

Vitol’s Taylor says $100 oil price is nothing special

Posted on 23 April 2013 by VRS  |  Email |Print

Crude can move either side of $100 a barrel with neither direction currently dominating, aside from a longer term bias for gradual gains, said the head of Vitol Group, the world’s largest privately held oil trader.
Brent crude futures sank below $100 on April 16 for the first time since July and have oscillated either side of that level in the days since, trading at $100.53 at 12:58 p.m. London time today on the ICE Futures Europe exchange………………………………………..Full Article: Source

banner
banner
April 2014
S M T W T F S
« Mar    
 12345
6789101112
13141516171819
20212223242526
27282930