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India: Commodity exchanges Q1 turnover drops 65%

Posted on 16 July 2014 by VRS  |  Email |Print

The turnover of commodity exchanges fell by 65% to Rs.14.55 trillion in the first quarter of the current fiscal due to poor volumes in most commodities, the Forward Markets Commission (FMC) said. The turnover at these commodity bourses stood at Rs.41.45 trillion in the same period last year.
Much of the fall was seen in bullion, followed by energy, metals and agricultural commodities, FMC data showed. According to the FMC, the turnover from bullion fell by 73% to Rs.5.23 trillion in April-June this year, against Rs.19.38 trillion in the same period a year ago……………………………………….Full Article: Source

Commodities Reverse Their Gains

Posted on 15 July 2014 by VRS  |  Email |Print

The rally that started at the beginning of this year is quickly reversing. While not all of the gains have been given back (yet), the truth is that the current price conditions are not looking that good for commodities. Continuous Commodity Index has now fallen below its 200 day moving average, something that rarely happened during 2001-08 and 2009-11 bull markets.
The more common CRB Index is also not too far off either. Let us look at some of the individual commodities that represent four major sub sectors: energy, industrial metals, grains and softs. We start with the granddaddy of all commodities and a barometer of global economy, Crude Oil. Personally, I prefer to use Brent Crude Oil, as it represents global demand and supply story a lot better. As you may recall from a few weeks back, we were discussing a technical breakout in Brent Crude Oil out of its multi-year triangular consolidation pattern……………………………………….Full Article: Source

2014 Commodities Halftime Report

Posted on 14 July 2014 by VRS  |  Email |Print

What a difference six months can make. After a disappointing 2013, the commodities market came roaring back full throttle, outperforming the S&P 500 Index by more than 4 percentage points and 10-year Treasury bonds by more than 6.
Leading the rally was nickel, delivering a 37.14 percent return, followed by palladium (17.70 percent) and gold (10.90 percent). Nickel also saw the largest gain from last year, climbing more than 55 points to settle close to $19,000 per metric tonne. Gold jumped 38 percentage points to $1,327 an ounce, and palladium rose 16 points to $843 an ounce………………………………………..Full Article: Source

Rallies in energy, metals boost commodity funds in Q2-Lipper

Posted on 11 July 2014 by VRS  |  Email |Print

Commodity funds delivered robust returns in the second quarter, consolidating their recovery since the start of the year, with rallies in energy and metals boosting the top performers in the Lipper Global Commodity group.
Leading commodity fund managers say base metals should continue to perform well in the second half of 2014, with investor sentiment towards China improving, but the upside for oil is seen as more limited. Commodities have put in a solid performance so far this year, although returns eased a little in the second quarter………………………………………..Full Article: Source

How low could crude oil go?

Posted on 10 July 2014 by VRS  |  Email |Print

At the beginning of this year — long before extreme winter weather and the Islamic State seizing Iraq’s largest oil refinery, and everything that’s followed — a high-profile analyst said oil prices could drop by $20 a barrel. His belief was that the oil supply would surge this year thanks to Iraq, Libya and the U.S. being able to increase their production.
On top of that, the lifting of some Iranian sanctions would allow it to increase its oil production as well. Oil prices have been stabilizing over the past few days as the threat in the Middle East has lessened………………………………………..Full Article: Source

LNG market grows at 2.8% CAGR, to reach US$196.4 mn by 2019

Posted on 10 July 2014 by VRS  |  Email |Print

Liquefied Natural Gas market is growing at a compounded annual growth rate (CAGR) of 2.8% from 2013 and will extend up to 2019 when total market value will rise to US$196.4 mn from $161.4 mn in 2012, according to a new report titled “Liquefied Naturla Gas Market: Global Industry Analysis, size, share, growth, trends and forecast, 2013-19.
Key end-user segments analyzed in the study include industrial sector, electric power and other segments such as transportation and commercial. In terms of volume, industrial sector was the largest segment, accounting for around 43.0% of the total market share in 2012. Industries such as fertilizers and petrochemicals are major consumers of LNG as large share of LNG is consumed by these sectors………………………………………..Full Article: Source

Gold outpaces rival asset classes

Posted on 08 July 2014 by VRS  |  Email |Print

Commodity has gained almost 10 per cent since 2013 thanks to demand for jewellery. Following a prolonged period of miserable returns, gold investors are finally clawing back some losses, with the precious metal currently the top performing asset class of 2014.
Since the start of the year, bullion has rallied by 9.3 per cent, well ahead of its nearest challengers, the S&P 500 and the STOXX 600 indices, which have notched up respective gains of 6.2 and 5.5 per cent in dollar terms, according to JPMorgan Asset Management……………………………………..Full Article: Source

Aluminium outperforms other metals except nickel

Posted on 08 July 2014 by VRS  |  Email |Print

Much to the relief of aluminium producers, the white metal has outperformed other non-ferrous metals in price gains, except nickel, which managed to advance 40 per cent after Indonesia put a ban on minerals exports in January.
The three-month aluminium price, which in some intraday trades at London Metal Exchange (LME) breached the psychologically important $1,900 a tonne, has risen to its highest since August 2013. The undoing of aluminium for a long time has been excess capacity outside China and its use leading to the build up of stocks of over 5 million tonnes (mt) at LME warehouses……………………………………..Full Article: Source

Commodities begin H2 2014 on a mixed note, agri bears heavy losses:Saxo Bank

Posted on 07 July 2014 by VRS  |  Email |Print

Commodities have begun the second half of 2014 on a mixed note with Bloomberg Commodity Index (formerly DJ-UBS) falling for second week in a row. The losses were on account of decline in corn, soybeans, soft commodities such as sugar and Arabica coffee, according to Ole S Hansen, Head of Commodity Strategy at Saxo Bank.
The price of key crops such as corn and soybeans traded on the Chicago Board of Trade (CBOT) plunged on Monday following the release of two reports from the US Department of Agriculture. Both the quarterly stock report and the latest update on planted acreage surprised the markets with the stock report showing domestic stockpiles of grains as being significantly bigger than what was forecast………………………………………..Full Article: Source

Everybody Loves Hedge Funds, Assets Hit Record $3 Trillion

Posted on 26 June 2014 by VRS  |  Email |Print

Love ‘em or hate ‘em, the world of hedge funds is only getting bigger. The industry saw assets surpass $3 trillion in May for the first time ever. That’s according to hedge fund database, eVestment, which notes the new record exceeds the asset peak from 2008.
It’s been a particularly strong year for hedge funds. In May alone, $22 billion of new capital was added bringing year-to-date flows to $93.3 billion. That’s the strongest start to a year since 2007………………………………………..Full Article: Source

Goldman Sees Commodities Dropping 5.5% After Iraq-Driven Rally

Posted on 25 June 2014 by VRS  |  Email |Print

Commodities are poised to decline 5.5 percent over the next 12 months after climbing amid tensions in Iraq, Goldman Sachs Group Inc. said. Energy prices will be 5 percent lower a year from now, precious metals will drop 15 percent and agricultural products will retreat 10 percent, the bank said in an asset-allocation report dated yesterday. Commodities will decline 4 percent in the next three months, according to the report.
“Despite the negative return we forecast after the recent rally driven by events in Iraq, we stay neutral commodities due to the hedging benefits they offer against these risks,” Goldman analyst Jeffrey Currie in New York said in the report………………………………………..Full Article: Source

Commodities lose status as world’s best performing asset class in 2014: Deutsche Bank

Posted on 13 June 2014 by VRS  |  Email |Print

Commodities have lost their status as the world’s best performing asset class as gains in the livestock, agriculture and precious metals sector have been surrendered during the second quarter.
Deutsche Bank said in an update on commodity indices that the performance of Dow Jones UBSC Index (DJUBSCI) was affected by losses in agricultural and livestock sectors while gains in energy complex helped Standard & Poors GSCI to post positive returns………………………………………..Full Article: Source

Commodity prices fall for third month, led by dairy products

Posted on 04 June 2014 by VRS  |  Email |Print

New Zealand commodity prices fell for a third month in May, led by dairy products in the wake of a slide in world prices this year. The ANZ Commodity Price Index dropped 2.2 percent to 317.7 last month for an annual decline of 3.1 percent. In New Zealand dollar terms, prices fell 2.1 percent in the latest month and 6 percent in the year.
The commodity index comes after dairy product prices fell 4.2 percent in the latest GlobalDairyTrade auction overnight, the eighth straight decline, to a 16-month low. Economists say the drop in dairy prices mean the terms of trade, which reached a new 40-year high in the first quarter, is unlikely to push on to a record high any time soon………………………………………..Full Article: Source

Commodity Prices Slip Again in April: Scotiabank

Posted on 29 May 2014 by VRS  |  Email |Print

After a strong start to 2014, Scotiabank’s Commodity Price Index fell by 3.2% month-over-month (m/m) in April, the second consecutive monthly decline. The All Items Index is currently 1.3% below a year earlier.
“In the first half of 2014, the improvement in oil prices for Western Canada’s oil patch has been bolstered by a narrowing of the two price discounts which hurt earnings last year,” said Patricia Mohr, Scotiabank’s Vice President of Economics and Commodity Market Specialist. “Firstly, the Western Canadian Select (WCS) heavy crude oil discount off WTI oil declined to about US$21.57 per barrel (still high, but a US$4 improvement over a year ago). Secondly, the discount on WTI oil off Brent — the international benchmark — has also dropped to US$8 year-to-date (YTD). The net result, the S&P TSX Oil & Gas Exploration and Production Index has climbed by almost 16% YTD.” (Press Release)

Major banks Q1 commodities revenue jumps 26 pct

Posted on 19 May 2014 by VRS  |  Email |Print

Commodities revenue at the top 10 investment banks climbed 26 percent in the first quarter after years of declines, due to higher U.S. power and gas turnover as well as stronger investor interest, a consultancy said on Monday.
Revenue from commodities for top banks in the first quarter rose to $1.8 billion from $1.4 billion in the same period last year, London-based financial industry analytics firm Coalition said in a report. “The cold winter in North America created volatility and had a positive impact on U.S. power and gas revenues,” it said…………………………………….Full Article: Source

Wall Street banks count commodities trading profits

Posted on 15 May 2014 by VRS  |  Email |Print

While the world has been writing epitaphs for Wall Street banks’ commodity trading desks, Wall Street has been counting its ­profits. Banks that held firm amid an industry pullback from energy, metals and agricultural markets – and even some that beat a partial retreat – mined a rich seam as North America’s coldest winter in three decades drove up energy prices, results show.
Citigroup, Goldman Sachs, Morgan Stanley and Macquarie flagged commodities trading as a bright spot in first-quarter earnings. Coalition, a consultancy which tracks banks’ performance, estimates revenues for the top 10 banks in commodities rose 20 per cent year on year in the three months to March………………………………………..Full Article: Source

Commodity funds down in first quarter, even as energy markets rally

Posted on 08 May 2014 by VRS  |  Email |Print

Two-thirds of commodity hedge funds lost money in the first quarter, extending last year’s dismal run, possibly because they bet against higher crop and energy prices in a rallying market, data from futures broker Newedge and banker HSBC showed on Wednesday.
Of some 120 commodity-focused funds in the United States and Europe that either trade on discretion or follow trends, about 70 finished lower in the three months through March, despite a run-up in the corn, wheat, soybean, arabica coffee, lean hog and natural gas markets, the data showed………………………………………..Full Article: Source

US ETP assets reach record high of $1.73 trillion

Posted on 07 May 2014 by VRS  |  Email |Print

Flows into ETFs and ETPs listed in the United States rebounded in March gathering net inflows of $10.9 billion which, when combined with a small positive market performance in the month, pushed assets in the global ETF/ETP industry to a new record high of $1.73 trillion, according to ETFGI’s latest quarterly global ETF and ETP industry insights report.
At the end of Q1 2014, there were 1,568 ETFs/ETPs listed in the United States, from 57 providers on 3 exchanges………………………………………..Full Article: Source

Citi Q1 commodities revenue almost doubles as polar vortex hits

Posted on 06 May 2014 by VRS  |  Email |Print

Citigroup Inc’s revenue from commodities transactions nearly doubled in the first quarter of 2014 year-over-year, making it the latest bank to benefit from this past winter’s soaring power and gas prices as the coldest weather in three decades gripped the United States.
The bank brought in $224 million in principal transactions revenue in “commodity and other contracts,” up almost 90 percent from the first quarter last year and just $43 million shy of its total commodities trading haul for all of 2013………………………………………..Full Article: Source

RBA commodity price index at 4-yr low

Posted on 02 May 2014 by VRS  |  Email |Print

The price of Australia’s export commodities fell to a new four-year low in April. The Reserve Bank of Australia’s index of commodity prices was 1.3 per cent lower in foreign currency terms in the month. Prices for base metals and rural commodities rose in the month, but these rises were outweighed by falls for iron ore, coking coal and gold.
The April level of the index was 28 per cent below the July 2011 all-time high in July 2011, and as low as it has been since March 2010. There is some prospect of more stable prices recently………………………………………..Full Article: Source

Global Fossil Fuels Face A Loss Of $30 Trillion

Posted on 02 May 2014 by VRS  |  Email |Print

The global fossil fuel industry faces a loss of $US28 trillion ($A30.2 trillion) in revenues over the next two decades, if the world takes action to address climate change, cleans up pollution and moves to decarbonise the global energy system.
The assessment, made by leading European broking house Kepler Chevreux, underlines what’s at stake for the fossil fuel industry from a push to cleaner fuels and concerted efforts to reduce emissions, and helps explain the enormous push back from the oil and coal industries in particular against such policies………………………………………..Full Article: Source

Three funds to cash in on a rally in commodities

Posted on 25 April 2014 by VRS  |  Email |Print

The outlook for commodities is the best it’s been for a decade, according to Hermes Fund Managers, joining a long line of experts expecting more for the asset class in the coming years.
Old Mutual’s Richard Buxton and FE Alpha Manager Barry Norris are among the fund managers who have been increasing their exposure to commodities-related stocks in recent months. Many believe the pessimism towards Chinese demand has been overdone, and expect a sector-shift out of more expensive areas such as consumer staples and healthcare as a result………………………………………..Full Article: Source

Armajaro commodities fund assets fall almost 25 pct in first quarter

Posted on 17 April 2014 by VRS  |  Email |Print

London-based Armajaro Asset Management lost nearly a quarter of assets at its largest commodities fund in the first quarter, the latest sign that edgy investors have continued to withdraw cash from the sector after weak returns, documents show.
Assets under management at Armajaro Commodities Fund (ACF), the biggest of the group’s six hedge funds and one of three dedicated to commodities, fell to $686 million by end-March from $904 million at end-December, documents obtained by Reuters on the fund showed on Wednesday………………………………………..Full Article: Source

Commodities seen by Goldman down after ‘transient events’

Posted on 15 April 2014 by VRS  |  Email |Print

Goldman Sachs Group Inc. expects commodity prices to decline this year even after precious metals and crop prices rallied on Ukraine tension and weather concerns. The S&P GSCI Enhanced Commodity Index may drop 4 percent in the next 12 months from a 4.3 percent decrease predicted in February, analysts led by Jeffrey Currie wrote in a report.
Precious metals will decline 15 percent, compared with a 14 percent retreat forecast in February, it said. Agriculture prices will drop 10 percent, from February’s estimate of a 9 percent loss, it said………………………………………..Full Article: Source

Commodity funds bounce in Q1 after 2013 losses

Posted on 11 April 2014 by VRS  |  Email |Print

Commodity funds bounced in the first quarter from a 2013 loss, with the top performers in the Lipper Global Commodity group racking up double-digit returns after rallies in agriculture, natural gas and nickel.
Supply disruptions provided opportunities across the asset class, but fund managers said only a few of these bullish fundamentals would persist into the second quarter and that some commodities are now over-valued………………………………………..Full Article: Source

China March commodity imports resilient despite slowing economy

Posted on 11 April 2014 by VRS  |  Email |Print

China’s imports of iron ore and copper soared in March from the previous month in anticipation of higher seasonal demand in the world’s top metals consumer, though crude oil shipments dropped after three months of high inbound volumes.
The double-digit monthly gains in iron ore and copper shipments came even as China posted weak trade data, raising doubts whether the high commodity import levels are sustainable and reinforcing forecasts that the world’s second-largest economy has slowed notably at the start of 2014………………………………………..Full Article: Source

Commodity market increased slightly in March due to encouraging supply fundamentals

Posted on 11 April 2014 by VRS  |  Email |Print

Commodities increased slightly in March as positive fundamentals and heightened macroeconomic risk supported returns. Nelson Louie, Global Head of Commodities in Credit Suisse’s Asset Management business, said, “Commodities were driven largely by fundamental factors in March, and returns were generally uncorrelated with other asset classes. The key themes continued over from January and February, and were largely related to one-off event-driven risks which negatively impacted supplies.
While weather risks seem to be subsiding in North America with the end of the winter season, the risk of further extreme climate events in South America and other parts of the world are still possible. In addition, heightened macroeconomic risk in Ukraine, and in other developing countries, most notably China, may continue to impact economically sensitive commodities.” (Press Release)

OPEC says its oil output tumbled in March

Posted on 11 April 2014 by VRS  |  Email |Print

OPEC’s oil output tumbled to its lowest level this year in March, the cartel of some of the world’s biggest oil producers said Thursday. Production by the Organization of the Petroleum Exporting Countries—which supplies more than a third of the oil consumed globally each day—fell by over half a million barrels a day last month to 29.6 million barrels a day, the group said in its monthly oil market report.
A steep drop in Iraq’s oil output of nearly 300,000 barrels a day led the decline, though there was also a substantial downturn in Angola, Libya and Saudi Arabia last month………………………………………..Full Article: Source

Global zinc demand could rise by 1.9 mln mt over next three years: IZA

Posted on 09 April 2014 by VRS  |  Email |Print

The global zinc market has potential to add a further 1.9 million mt of demand from new initiatives over the next three years, according to Stephen Wilkinson, director of the International Zinc Association Tuesday.
Speaking at the Metal Events 6th International Zinc conference in Dubai Wilkinson said that zinc is essential for human health and that one of the key areas of demand will come from the addition of zinc to fertilizers. He laid out data that showed vastly improved crop yields when zinc is added to the fertilizer blend………………………………………..Full Article: Source

India: Commodities futures trade volumes fall for second year

Posted on 09 April 2014 by VRS  |  Email |Print

Commodity futures trading volumes in India fell 40.49 percent in the year to March 2014, its second straight year of decline, the market regulator said on Tuesday.
In value terms, futures trading at commodity exchanges fell to 101.44 trillion rupees in the first twelve months from April 2013 from 170.46 trillion rupees a year ago, the Forward Markets Commission said in a statement on its website………………………………………..Full Article: Source

NZ: Commodity prices fall for first time in four months

Posted on 03 April 2014 by VRS  |  Email |Print

New Zealand commodity prices dropped for the first time in four months in March as cheese and milk powder declined. The ANZ Commodity Price Index fell 0.1 per cent to 337 from February. The index is 14 per cent above its level of March 2013. International prices for 10 of New Zealand’s main commodities increased in the month and three fell.
The price of whole milk powder led the decline, down 6 per cent, while prices for skim milk powder and cheese dropped 2 per cent. Dairy product prices fell 8.9 per cent in Fonterra Cooperative Group’s latest GlobalDairyTrade auction, the biggest drop in 20 months, as volumes increased…………………………………Full Article: Source

Commodities have outperformed this year, but oil prices may fall: Citi

Posted on 26 March 2014 by VRS  |  Email |Print

Commodities have mostly outperformed other assets by a wide margin so far this year, analysts at Citi said on Tuesday. Of the roughly 27 active contract markets that Citi regularly tracks, nearly 20 commodities show increases in value in the first quarter to date, but not all are destined to continue their rise.
A bar graph provided by Citi shows that among the commodities, coffee and lean hogs have seen the biggest price increases so far this year, while West Texas Intermediate crude has seen the least. Among the decliners, Brent crude saw the least amount of percentage losses, while iron ore saw the most……………………………….Full Article: Source

Global stainless steel production growth positive at 7.8pct in 2013

Posted on 19 March 2014 by VRS  |  Email |Print

The International Stainless Steel Forum (ISSF) has released preliminary figures for 2013 showing that stainless steel melt shop production increased by 7.8% to 38.1 million metric tons (mmt). With the exception of Western Europe and Africa, all regions achieved positive growth.
Asia excluding China recorded a production of 8.8 mmt during 2013 corresponding to a y–o–y increase of 0.8%. But growth throughout the region ranged from +5.4% (India) to -3.7% (Taiwan, China). Production levels in Japan and South Korea remained unchanged………………………………………..Full Article: Source

Commodity assets expand for first time since August after rally

Posted on 18 March 2014 by VRS  |  Email |Print

Commodity investments grew for the first time since August as prices of coffee to cocoa to hogs surged, and the trend may continue, Barclays Plc said. Raw-materials assets under management expanded $13 billion last month to $327 billion, with exchange traded products gaining $6 billion, the bank said.
Investors added $2 billion to commodities from precious metals to agriculture and energy, while rising prices also boosted the assets. The Standard & Poor’s GSCI gauge of 24 raw materials rose 4.4 percent last month, the most since July………………………………………..Full Article: Source

Precious metals posting strong ‘14 performance

Posted on 13 March 2014 by VRS  |  Email |Print

Gold and silver prices have logged solid gains this year, helped by concerns over the crisis in Eastern Europe and slowing economic growth in China. Tensions continued to build in Ukraine this week as negotiations appear to be at a standstill and European Union governments are considering sanctions against Russia.
Also leading investors to opt for safe-haven assets rather than equities was weaker-than-expected Chinese export data for February. Over the weekend, China said exports plunged 18.1%, compared to expectations they would jump more than 7%, leading to a broad selloff in Asian markets earlier this week. ……………………………………….Full Article: Source

Global ETF and ETP flows rebound in February

Posted on 13 March 2014 by VRS  |  Email |Print

Flows into ETFs and ETPs listed globally rebounded in February with net inflows of $29.0 billion, according to ETFGI, a London-based consultancy. When combined with the positive market performance over the month, the inflows helped push global industry assets under management to a new record high of $2.44 trillion.
“Positive comments from the Fed indicating that the US economy continues to brighten, the S&P 500 ending February with a record close of 1859 and signs of a wider global recovery in equities seems to have caused investors to come out of their winter hibernation after the winter storms and put net inflows of $29.0 billion into ETFs/ETPs in February,” said Deborah Fuhr, Managing Partner at ETFGI………………………………………..Full Article: Source

Will platinum, palladium and silver outperform gold this year?

Posted on 12 March 2014 by VRS  |  Email |Print

So far this year gold has probably been the best performing asset class of all having risen around 12% to date. But, within the overall precious metals sector, silver has only moved up a seemingly disappointing 7%, platinum 8% and palladium perhaps an even more disappointing 5% - despite analysts almost being unanimous in their views that the platinum group metals (pgms) in particular will outperform given the ongoing industrial action in South Africa, the world’s largest producer.
The South African situation is potentially severely disrupting supplies, while the global economy is seen as being in a recovery phase, which should indeed be a positive for the pgms given that within the Western recovery – and also with ongoing Chinese sales increasing – the automobile sector seems to be doing particularly well and that is the principal user of pgms, especially palladium………………………………………..Full Article: Source

China exports plunge, commodities worry

Posted on 11 March 2014 by VRS  |  Email |Print

Chinese exports plunged tanked by a shocking 18.1% leading to a 23 billion dollar trade deficit. The markets are trying to adjust to a shaky new Lunar New Year. Oh, sure, some blame the holiday but after getting one China company default it is possible that China is headed towards a very hard landing.
The reason why this is so shocking is just one month ago China trade expanded by 10.6%. We saw copper imports were soaring. Still China Copper Imports were up January through February was up 41.2% but in February fell 29%………………………………………..Full Article: Source

Carlyle commodity fund Vermillion’s assets halved to below $1 bln

Posted on 07 March 2014 by VRS  |  Email |Print

U.S. private equity group Carlyle said assets at its commodities hedge fund Vermillion fell by more than half in the nine months to December, suggesting investor redemptions at the fund after some negative returns.
New York-based Vermillion Asset Management was managing about $2 billion in March 2013 but that fell to around $900 million by December, Carlyle said in regulatory filings to the U.S. Securities Exchange and Commission………………………………………..Full Article: Source

Gold to oil climb as commodities reach six-month high on Ukraine

Posted on 04 March 2014 by VRS  |  Email |Print

Gains in everything from gold to oil drove commodities to the highest since September as Ukraine’s turmoil boosted the appeal of haven assets and fueled concern that energy and agricultural supplies will be disrupted.
The Standard & Poor’s GSCI Spot Index (SPGSCI) of 24 raw materials climbed as much as 2.1 percent to 663.48 yesterday, the highest since Sept. 9, and settled at 660.22 in New York. Crude oil jumped as much as 2.6 percent, wheat surged 7 percent, while gold increased 2.5 percent. Corn and gasoline also rose………………………………………..Full Article: Source

RBA commodity price index at 47-month low

Posted on 04 March 2014 by VRS  |  Email |Print

Export commodity prices fell in February to their lowest level in almost four years. The Reserve Bank of Australia’s index of commodity prices was 1.3 per cent lower in foreign currency terms in the month.
Coking coal and iron ore were the most important contributors to the monthly fall and were partly offset by a rising gold price, the RBA said on Monday. The RBA said the prices of many base metals fell, while many rural commodities enjoyed price rises………………………………………..Full Article: Source

Silver will be the king precious metal performer

Posted on 04 March 2014 by VRS  |  Email |Print

While gold is the king monetary metal, silver will turn out to be the king precious metal performer. Currently, gold is stealing the show as the East (China) continues to consume more than total world gold production. However, silver will surprise the markets in the future as overwhelming demand will outstrip supply in a big way.
The key factor that will drive up the price (value) of silver much higher than gold in percentage terms, will be its affordability. As the price of gold heads back above $1,500 and silver to $30, an individual can buy a heck of a lot more silver than gold………………………………………..Full Article: Source

Top 10 gold miners losing billions – but are they really?

Posted on 25 February 2014 by VRS  |  Email |Print

Based on recent headlines, non-financially-aware observer could be forgiven for thinking mining gold is a sure way to lose money, not to make it. Take the following batch from Mineweb over the past couple of weeks: Barrick cuts reserves 26%; reports $10.34 billion loss.
Goldcorp reports $2.71 billion loss; cuts reserves 15%. Newmont Mining reports $2.5 billion loss for 2013. Kinross Gold reports $3B loss: 33% cut in GEO reserves - to name the most recent. Overall, the world’s top 5 gold miners between them made book losses of some $20.8 billion in 2013. The smaller members of the Top 10 gold mining club who have reported to date all also made book losses, but not quite on the same scale, commensurate with their smaller outputs………………………………………..Full Article: Source

JPMorgan posts 12 pct decline in ‘13 commodities revenues-filing

Posted on 21 February 2014 by VRS  |  Email |Print

JPMorgan Chase & Co’s commodity revenues fell 12 percent last year, the bank said in a filing on Thursday, shedding new light on the unit as the bank prepares to sell its physical trading arm to Swiss-based trader Mercuria.
The drop in commodity revenues at JPMorgan is the second in two years, and follows tighter restrictions across Wall Street on banks trading with their own money and growing scrutiny of their role in the natural resources supply chain………………………………………..Full Article: Source

Commodities revenue at top 10 banks declined 18pct last year

Posted on 20 February 2014 by VRS  |  Email |Print

Commodities revenue at the 10 largest investment banks dropped 18 percent last year, according to analytics company Coalition Ltd. Revenue dropped to $4.5 billion from $5.5 billion in 2012, Coalition said in an e-mailed report. In November, the company anticipated a 14 percent drop in revenue.
“Revenues continued to decline, affected by a depressed client environment and low volatility,” Coalition said. “In 4Q13, performance in U.S. power and gas was particularly weak.”……………………………………….Full Article: Source

Major banks’ commodities revenue slid 18 pct in 2013

Posted on 19 February 2014 by VRS  |  Email |Print

Commodities revenue at the top 10 investment banks dropped 18 percent in 2013 in a third year of declines due to weak investor interest and low volatility, a consultancy said on Tuesday.
Revenue from commodities for top banks fell to $4.5 billion last year from $5.5 billion the previous year, London-based financial industry analytics firm Coalition said in a report. Many banks have slashed their commodities businesses and others have completely shut down commodities units, which also have been hit by tougher regulation and higher capital requirements after the global financial crisis………………………………………..Full Article: Source

Silver outperforming gold; Analysts mixed on short-term momentum

Posted on 18 February 2014 by VRS  |  Email |Print

Although a lot of focus was on gold last week as the price made major technical advances, silver was actually the better performer. Last week, Comex April gold futures advanced 4.2%; however, March silver futures rallied 7.27% with most of the gains coming on Friday as the price opened at $20.480 per ounce and closed the day at $21.421, a daily gain of 4.6%.
U.S. markets are closed Monday in honor of President’s day. However, in electronic trading, silver continued to outperform the yellow metal. As of 11:28 a.m. EST, March silver futures were trading at $21.905 an ounce, up 2.26% on the day, while April gold futures were trading at $1,328.80 an ounce up 0.77%………………………………………..Full Article: Source

Natural gas: 2013’s top commodity performer

Posted on 14 February 2014 by VRS  |  Email |Print

How dramatically things can change in a decade. We’ve talked about how volatile resources can be, and 2013’s top commodity performer is an excellent example. Per our latest Periodic Table of Commodities Returns, natural gas increased the most in 2013.
However, the commodity is still the worst performer over the past 10 years. You can see several times when gas fell toward the bottom: in 2006, 2009, 2010 and 2011. However, by 2012, gas climbed to the top half of the chart, clamoring for the top spot in 2013………………………………………..Full Article: Source

India: Commodity exchanges’ turnover drops 55 pct in January

Posted on 14 February 2014 by VRS  |  Email |Print

The combined turnover of commodity exchanges declined by 55 per cent to Rs. 6.56 lakh crore in January due to a sharp fall in trading volumes in bullion and metals, data from the Forward Markets Commission (FMC) showed.
These exchanges had clocked a business of Rs. 14.55 lakh crore in the corresponding month last year, teh data showed. According to the FMC, maximum business of Rs. 5.18 lakh crore was generated by MCX, followed by NCDEX at Rs. 98,881 crore; NMCE - Rs. 18,294 crore; UCX - 6,318 crore; ICEX - Rs. 5,878 crore, and ACE at Rs. 3,676 crore during last month………………………………………..Full Article: Source

Commodities hit 2014 highs

Posted on 13 February 2014 by VRS  |  Email |Print

Commodities climbed to the highest since December as extreme weather fueled supply concerns for crops and energy at a time of rising imports by China, the world’s largest consumer of everything from metals to pork.
The Standard & Poor’s GSCI Spot Index of 24 commodities gained 0.3 percent to 636.4641 at 1:45 p.m. New York time after touching 639.9293, the highest since Dec. 30. Sugar headed for the biggest increase since Jan. 31, while natural gas advanced for a second day. Coffee was also among the biggest gainers, and cocoa reached the highest since 2011………………………………………..Full Article: Source

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