Opalesque Commodities Briefing http://www.opalesque.com/Commodities_Briefing Tue, 16 Sep 2014 01:45:22 +0000 http://wordpress.org/?v=2.5.1 en Commodities Extend Decline to Lowest Since July 2009 http://www.opalesque.com/Commodities_Briefing/?p=132710 http://www.opalesque.com/Commodities_Briefing/?p=132710#comments Tue, 16 Sep 2014 01:45:22 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132710 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132710>Article Link</a> Commodities rose after touching the lowest level in more than five years on signs demand growth is weakening in China, the biggest consumer of energy and metals, and on speculation U.S. borrowing costs may rise next year. (more…)

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Commodities brace for more woe ahead of Fed rate decision http://www.opalesque.com/Commodities_Briefing/?p=132709 http://www.opalesque.com/Commodities_Briefing/?p=132709#comments Tue, 16 Sep 2014 01:44:56 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132709 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132709>Article Link</a> Major commodity markets, many already trading near multi-year lows, could face more pressure should the U.S. Federal Reserve fuel fresh gains in the U.S. currency this week, weighing on dollar-priced raw materials. (more…)

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Russia’s energy minister to meet OPEC as oil price falls more http://www.opalesque.com/Commodities_Briefing/?p=132708 http://www.opalesque.com/Commodities_Briefing/?p=132708#comments Tue, 16 Sep 2014 01:44:42 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132708 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132708>Article Link</a> Russian Energy Minister Alexander Novak will meet OPEC officials on Tuesday in Vienna, his spokeswoman said, as oil’s price fall piled pressure on Moscow’s budget. The annual meeting had been planned long before oil fell below the $100 per barrel level critical for Russia’s oil sales which account for 40 percent of state budget revenues. (more…)

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Oil Prices Fall as China Data Fuel Demand Concerns http://www.opalesque.com/Commodities_Briefing/?p=132707 http://www.opalesque.com/Commodities_Briefing/?p=132707#comments Tue, 16 Sep 2014 01:44:23 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132707 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132707>Article Link</a> Global oil prices deepened their slide Monday after weak industrial and retail data from China raised concerns about demand for crude. The global Brent crude contract on the ICE Futures Europe exchange fell 46 cents, or 0.5%, to $96.65 a barrel, the lowest settlement since June 28, 2012. Brent is down 17% from the 2014 high reached in mid-June. The October Brent contract expired with the close of trading Monday. (more…)

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Libya, Iraq Insecurity May Hit Future OPEC Supply Prospects http://www.opalesque.com/Commodities_Briefing/?p=132706 http://www.opalesque.com/Commodities_Briefing/?p=132706#comments Tue, 16 Sep 2014 01:44:09 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132706 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132706>Article Link</a> Amid a continuing slide in global oil prices, the head of OPEC has said political insecurity in Iraq and Libya could affect the oil-producing cartel’s future output prospects. (more…)

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Russia’s challenge to an oil-hungry world http://www.opalesque.com/Commodities_Briefing/?p=132705 http://www.opalesque.com/Commodities_Briefing/?p=132705#comments Tue, 16 Sep 2014 01:43:54 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132705 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132705>Article Link</a> The oil price may be falling and global demand is “remarkably” subdued, according to a report last week from the International Energy Agency. But this has not stopped the former chief executive of BP, Tony Hayward, from issuing an uncomfortable warning. (more…)

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Gold prices to remain under pressure next year too http://www.opalesque.com/Commodities_Briefing/?p=132704 http://www.opalesque.com/Commodities_Briefing/?p=132704#comments Tue, 16 Sep 2014 01:43:38 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132704 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132704>Article Link</a> Gold prices in the global market are likely to remain under pressure and rule below $1,200 an ounce next year, a global convention was told. “We expect gold prices to remain low next year too. Once gold slips below $1,200, it could head towards $1,175. The positive thing about the fall is that physical buying could emerge once prices drop to $1,200 levels,” said Cameron Alexander, Manager, Precious Metals, Thomson Reuters GFMS, at a price outlook session at the 11th India International Gold Convention – 2014. (more…)

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Why Goldman Sachs is Wrong on Gold http://www.opalesque.com/Commodities_Briefing/?p=132703 http://www.opalesque.com/Commodities_Briefing/?p=132703#comments Tue, 16 Sep 2014 01:43:24 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132703 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132703>Article Link</a> Wall Street powerhouse Goldman Sachs has recently reiterated its negative view on gold, which it has held for the past year. However, it is now doubling down on this view and advising clients to actually go short the metal. Jeff Currie, head of commodity research at Goldman noted “Our target is really driven by the view that we think that the Fed will ultimately be the dominate force here and put more downward pressure [on prices]“. (more…)

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Gold industry needs ‘cleansing’ of weakest miners http://www.opalesque.com/Commodities_Briefing/?p=132702 http://www.opalesque.com/Commodities_Briefing/?p=132702#comments Tue, 16 Sep 2014 01:42:57 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132702 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132702>Article Link</a> The gold industry, recovering from the worst slump in prices in 30 years, needs more mergers to help improve investor returns and eliminate unprofitable mines, Fidelity Investments said. About a third of gold production is probably money-losing when the price of the metal is lower than $1,250 an ounce, said Joe Wickwire, who manages more than $1.8 billion of assets including the Fidelity Select Gold Portfolio. (more…)

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Why ECB QE Is Bearish For Gold Prices http://www.opalesque.com/Commodities_Briefing/?p=132701 http://www.opalesque.com/Commodities_Briefing/?p=132701#comments Tue, 16 Sep 2014 01:42:42 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132701 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132701>Article Link</a> The recent action by the ECB appears to have caught many gold bulls off guard. A common interpretation of the impact that a potential quantitative easing program would have on gold prices was that it would be very bullish. This argument was based on the concept that money printing is bullish for gold, and that QE1 and QE2 by the Fed triggered major rallies in the yellow metal. (more…)

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New gold contract to set Singapore up as a global gold hub? http://www.opalesque.com/Commodities_Briefing/?p=132700 http://www.opalesque.com/Commodities_Briefing/?p=132700#comments Tue, 16 Sep 2014 01:42:27 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132700 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132700>Article Link</a> Singapore continues its push to be a global gold hub. Further details emerged at the weekend about the planned launch by Singapore of a new 1kg physically deliverable gold contract for the Asian wholesale gold market. (more…)

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Marc Faber emphasizes need for gold http://www.opalesque.com/Commodities_Briefing/?p=132699 http://www.opalesque.com/Commodities_Briefing/?p=132699#comments Tue, 16 Sep 2014 01:42:12 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132699 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132699>Article Link</a> Veteran investor Marc Faber, author of The Gloom, Boom and Doom Report, reiterated the need for gold in a diversified portfolio when interviewed last week on CNBC. Faber, a resident of Thailand, is an advocate of gold storage in Singapore, and believes that a diversified portfolio will help protect against future market corrections which he believes are on the horizon. (more…)

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Uranium: Not if but when http://www.opalesque.com/Commodities_Briefing/?p=132698 http://www.opalesque.com/Commodities_Briefing/?p=132698#comments Tue, 16 Sep 2014 01:41:59 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132698 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132698>Article Link</a> Presenters at a uranium seminar organised this week by the London branch of Women in Mining, and sponsored by Fission Uranium, from a broad spectrum of the industry were all in agreement that uranium prices would likely rise substantially, but perhaps not yet - only in the medium to long term. (more…)

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China alumina price rises to Yuan 2,700/mt despite lower metal prices http://www.opalesque.com/Commodities_Briefing/?p=132697 http://www.opalesque.com/Commodities_Briefing/?p=132697#comments Tue, 16 Sep 2014 01:41:45 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132697 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132697>Article Link</a> The Platts ex-works Henan alumina assessment rose Yuan 60 from Friday to Yuan 2,700/mt ($439/mt) on Monday for 70:30 cash and credit payment terms on limited spot availability and in anticipation of seasonal restocking in the fourth quarter despite lower domestic metal prices, sources said. (more…)

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Copper price hits three-month low http://www.opalesque.com/Commodities_Briefing/?p=132696 http://www.opalesque.com/Commodities_Briefing/?p=132696#comments Tue, 16 Sep 2014 01:41:25 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132696 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132696>Article Link</a> Copper futures have fallen to their lowest level in nearly three months as investors bet that slower economic expansion in China will weigh on demand for the industrial metal. The most actively traded contract, for December delivery, settled US2.10c, or 0.7 per cent, lower at $US3.0855 a pound on the Comex division of the New York Mercantile Exchange. (more…)

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Iron Ore Rebound Seen by Morgan Stanley as Vale Sees $100 http://www.opalesque.com/Commodities_Briefing/?p=132695 http://www.opalesque.com/Commodities_Briefing/?p=132695#comments Tue, 16 Sep 2014 01:41:11 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132695 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132695>Article Link</a> Iron ore is heading for an end-of-year rally as some high-cost supplies are closed and steel demand picks up, according to Morgan Stanley, which said prices may first extend losses by a few more dollars before rebounding. (more…)

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Silver ETF holdings set record high as price drop sparks interest http://www.opalesque.com/Commodities_Briefing/?p=132694 http://www.opalesque.com/Commodities_Briefing/?p=132694#comments Tue, 16 Sep 2014 01:40:58 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132694 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132694>Article Link</a> Holdings at the world’s largest silver-backed exchange-traded funds (ETFs) rose to a record high as a pullback in prices prompted long-term retail investors to increase purchases of the precious metal. (more…)

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Who’s winning the ETF fee war? Hopefully, you are http://www.opalesque.com/Commodities_Briefing/?p=132693 http://www.opalesque.com/Commodities_Briefing/?p=132693#comments Tue, 16 Sep 2014 01:40:45 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132693 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132693>Article Link</a> Exchange-traded fund providers, including Vanguard, Charles Schwab and BlackRock’s iShares, have been slashing the expense ratios on their index ETFs in the past two years, trying to one-up each other and win more of your investing money. (more…)

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Shine Comes Off Gold ETFs As Dollar Gains Strength http://www.opalesque.com/Commodities_Briefing/?p=132692 http://www.opalesque.com/Commodities_Briefing/?p=132692#comments Tue, 16 Sep 2014 01:40:33 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132692 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132692>Article Link</a> Gold continues to lose its luster. Last week, spot gold went on a five-day losing streak. Prices melted from $1,270 to $1,228 an ounce in New York trade, a drop of 3%. The metal fell to a six-month low as the European Central Bank moved to revitalize European economies. Those moves strengthened the dollar, which put downward pressure on gold. (more…)

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The real problem for commodity nations is currency, not prices: Russell http://www.opalesque.com/Commodities_Briefing/?p=132691 http://www.opalesque.com/Commodities_Briefing/?p=132691#comments Tue, 16 Sep 2014 01:40:17 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132691 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132691>Article Link</a> The pressing problem for some resource-rich countries isn’t that prices for commodities have dropped sharply, it’s that their currencies haven’t dropped in tandem. The plight of Australia and Indonesia, the major commodity exporters in the Asia-Pacific region, is driven home by the fact that their currencies have actually gained against the U.S. dollar this year, even as commodity prices have plunged. (more…)

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Scottish currency dilemma causes pound-ing headache http://www.opalesque.com/Commodities_Briefing/?p=132690 http://www.opalesque.com/Commodities_Briefing/?p=132690#comments Tue, 16 Sep 2014 01:40:04 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132690 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132690>Article Link</a> For all the recent scaremongering about the viability of an independent Scotland, it’s easy to understand why the chance to reclaim a country’s sovereignty offers its citizens an exciting prospect. Scotland is, after all, culturally distinct from the rest of the British Isles. (more…)

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The Return of the Currency Wars http://www.opalesque.com/Commodities_Briefing/?p=132689 http://www.opalesque.com/Commodities_Briefing/?p=132689#comments Tue, 16 Sep 2014 01:39:52 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132689 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132689>Article Link</a> When a country’s economy grows too slowly, the standard short-term remedies are to increase government spending, cut taxes or reduce interest rates. When none of those options is available, governments often resort to pushing down their currencies to make their exports more attractive to foreigners (and, these days, to push up import prices and thus bring inflation back up to desired levels). (more…)

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For The World’s Biggest Companies, Carbon Taxes And Trading Are Inevitable http://www.opalesque.com/Commodities_Briefing/?p=132688 http://www.opalesque.com/Commodities_Briefing/?p=132688#comments Tue, 16 Sep 2014 01:39:39 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132688 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132688>Article Link</a> An increasing number of big corporations expect governments worldwide to put a price on carbon dioxide emissions to help tackle climate change and some are already factoring in the cost to guide future investment decisions, a report found on Monday. (more…)

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EU polluters to land EUR5bn windfall under ‘carbon leakage’ proposal http://www.opalesque.com/Commodities_Briefing/?p=132687 http://www.opalesque.com/Commodities_Briefing/?p=132687#comments Tue, 16 Sep 2014 01:39:20 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132687 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132687>Article Link</a> European commission report assumes an unrealistically high carbon price, in move expected to cost governments billions. Heavily-polluting industries are in line for a €5bn (£4bn) handout from Europe’s taxpayers because of the way the EU is measuring their exposure to unregulated competitors outside the bloc, according to an unpublished report prepared for the European commission. (more…)

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Commodities index tumbles to five-year low http://www.opalesque.com/Commodities_Briefing/?p=132686 http://www.opalesque.com/Commodities_Briefing/?p=132686#comments Mon, 15 Sep 2014 03:15:20 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132686 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132686>Article Link</a> One of the world’s leading indices for commodities has dropped to its lowest level in five years, casting doubt over renewed investor interest in the sector. After a record year of net withdrawals in 2013, sentiment towards commodities has started to improve this year helped by strong returns and declining correlations with other assets classes. (more…)

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We Continue To Like Our Buy View For Commodities http://www.opalesque.com/Commodities_Briefing/?p=132685 http://www.opalesque.com/Commodities_Briefing/?p=132685#comments Mon, 15 Sep 2014 03:15:06 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132685 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132685>Article Link</a> Our expectation for rising prices of the commodity market is a result of the improvement in the global economy. The last few months have been dominated by the stabilization in the global economic cycle and reduction in system risk. We have seen signs of improvement in labor market figures, capital expenditure, consumer spending, and business confidence. (more…)

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Hedge Funds Cut Bullish Crop Bets to Lowest Since January http://www.opalesque.com/Commodities_Briefing/?p=132684 http://www.opalesque.com/Commodities_Briefing/?p=132684#comments Mon, 15 Sep 2014 03:14:50 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132684 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132684>Article Link</a> Hedge funds cut bullish wagers on agricultural commodities to the lowest since January before the U.S. forecast rising grain supplies and sent wheat, corn and soybean prices to four-year lows. Money managers lowered their net-long position on crops from coffee to wheat in 10 of the past 11 weeks, U.S. government data show. Investors got more bearish on sugar and have the most-negative outlook on soybeans since 2006. (more…)

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China commodity finance costs spike after Qingdao fraud http://www.opalesque.com/Commodities_Briefing/?p=132683 http://www.opalesque.com/Commodities_Briefing/?p=132683#comments Mon, 15 Sep 2014 03:14:34 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132683 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132683>Article Link</a> Rising costs and delays in issuing letters of credit driving SMEs out of the market but global and local banks are still active in the business. The cost for financing commodity imports has increased steeply in China as banks begin to raise margin levels and step up due diligence investigation on clients after the Qingdao fraud that saw 25 international and local lenders lose up to $4.5 billion when traders reused copper collateral multiple times. (more…)

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Oil price slide sets the stage for M&As http://www.opalesque.com/Commodities_Briefing/?p=132682 http://www.opalesque.com/Commodities_Briefing/?p=132682#comments Mon, 15 Sep 2014 03:14:19 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132682 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132682>Article Link</a> As the oil price slides, nervous oil executives are wondering how low it can go. Brent crude hit its lowest level in two years last week, raising questions about how the industry – and the large international oil groups in particular – would cope with a sustained period of weakness. (more…)

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OPEC Chief Sees Oil Price Rebounding by Year End http://www.opalesque.com/Commodities_Briefing/?p=132681 http://www.opalesque.com/Commodities_Briefing/?p=132681#comments Mon, 15 Sep 2014 03:14:04 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132681 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132681>Article Link</a> OPEC’s chief said on Friday that no emergency meeting is being considered as he expects oil prices to rebound by the end of the year. The Brent oil price—the most widely used international benchmark—fell below $100 a barrel this week and remained around $98 a barrel on Friday. (more…)

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Current oil price level satisfies OPEC http://www.opalesque.com/Commodities_Briefing/?p=132680 http://www.opalesque.com/Commodities_Briefing/?p=132680#comments Mon, 15 Sep 2014 03:13:47 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132680 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132680>Article Link</a> The current level of oil price is satisfying to the Organization of Petroleum Exporting Countries (OPEC), Parviz Mina, the international petroleum consultant says. The price of $95 to $100 per barrel satisfies the OPEC producers as well as the main crude oil buyers, Mina, who served as a member of OPEC Long-Term Strategy Committee, told Trend Sept. 12. (more…)

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Brent Crude Oil may fall to $96.75, 95 levels: Barclays| http://www.opalesque.com/Commodities_Briefing/?p=132679 http://www.opalesque.com/Commodities_Briefing/?p=132679#comments Mon, 15 Sep 2014 03:13:33 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132679 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132679>Article Link</a> Brent crude oil prices fell below $100 per barrel last week and there is a likelihood of prices faling to $96.75 and $95 per barrel, Barclays Research said. The market is adjusting to a situation when there is ample light sweet oil supplies amidst a relatively softer global oil demand growth, Barclays added. (more…)

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Fracking Gives U.S. Energy Boom Plenty of Room to Run http://www.opalesque.com/Commodities_Briefing/?p=132678 http://www.opalesque.com/Commodities_Briefing/?p=132678#comments Mon, 15 Sep 2014 03:13:18 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132678 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132678>Article Link</a> Skeptics of the U.S. energy boom say it can’t last much longer because it requires drilling an ever-increasing number of wells. But the boom already has lasted longer than anyone would have imagined just a decade ago and has more room to run. That’s because oil and natural-gas wells have become more productive—an unrecognized but potent trend that should keep the fuels flowing. (more…)

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Reasons For The Recent Decline In Gold Prices http://www.opalesque.com/Commodities_Briefing/?p=132677 http://www.opalesque.com/Commodities_Briefing/?p=132677#comments Mon, 15 Sep 2014 03:13:06 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132677 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132677>Article Link</a> Gold prices fell to their three-month lows in September. The London PM Fix gold price stood at $1,286.50 per ounce at the beginning of the month, with prices closing at $1,251 per ounce at the close of trading on September 10. Gold is often viewed as an inflation hedge and safe haven investment by investors. (more…)

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Gold Industry Needs ‘Cleansing’ of Weakest, Fidelity Says http://www.opalesque.com/Commodities_Briefing/?p=132676 http://www.opalesque.com/Commodities_Briefing/?p=132676#comments Mon, 15 Sep 2014 03:12:51 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132676 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132676>Article Link</a> The gold industry, recovering from the worst slump in prices in 30 years, needs more mergers to help improve investor returns and eliminate unprofitable mines, Fidelity Investments said. (more…)

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Pain for gold, silver price as hedge fund slash bullish bets http://www.opalesque.com/Commodities_Briefing/?p=132675 http://www.opalesque.com/Commodities_Briefing/?p=132675#comments Mon, 15 Sep 2014 03:12:40 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132675 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132675>Article Link</a> On Friday the price of gold fell again, reaching an 8-month low after five straight days of selling on the back of negative precious metals sentiment among large investors coupled with a strong dollar. On the Comex division of the New York Mercantile Exchange in after-hours Friday trade gold for December delivery slid below $1,230 an ounce, a 2.8% retreat for the week to levels last seen early January. (more…)

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Chinese Investors Look for Rare Earth Metals in Greece http://www.opalesque.com/Commodities_Briefing/?p=132674 http://www.opalesque.com/Commodities_Briefing/?p=132674#comments Mon, 15 Sep 2014 03:12:20 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132674 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132674>Article Link</a> The Greek subsoil and its rare earth metals have attracted the interest of Chinese investors. On the occasion of the ERES international conference hosted in Greece from September 4 to 7, a delegation from China, which is considered the absolute leader in the earth metals field, visited Greece. (more…)

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Zinc: World running out and shortage hits pound in your pocket http://www.opalesque.com/Commodities_Briefing/?p=132673 http://www.opalesque.com/Commodities_Briefing/?p=132673#comments Mon, 15 Sep 2014 03:12:04 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132673 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132673>Article Link</a> Prices for the rust-resistant metal zinc soared to a three-year high last week as exhausted mines across the world close, but it is with the pound in our pocket that we are likely to feel the soaring cost most acutely. One and two-pound coins are made up of as much as 25 per cent zinc and analysts are predicting the Royal Mint may have to follow the example of the US Mint and take cost-cutting measures. (more…)

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Industrial Metals Fall After China Data Signals Slowing Economy http://www.opalesque.com/Commodities_Briefing/?p=132672 http://www.opalesque.com/Commodities_Briefing/?p=132672#comments Mon, 15 Sep 2014 03:11:48 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132672 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132672>Article Link</a> Copper lead most industrial metals lower after factory and retail-sales data signaled further slowing in China, the world’s biggest user. Copper in London fell as much as 0.8 percent, while zinc and lead also declined. Industrial-output growth in China was the weakest in August since the global financial crisis while investment and retail sales moderated, figures released Sept. 13 showed. (more…)

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Commodity ETFs Are Dying And That’s A Good Thing http://www.opalesque.com/Commodities_Briefing/?p=132671 http://www.opalesque.com/Commodities_Briefing/?p=132671#comments Mon, 15 Sep 2014 03:11:37 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132671 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132671>Article Link</a> One of the points I stress in my book is how commodities are not really a wise asset class to allocate assets to for long periods of time. History has shown us that commodities generate poor real, real returns over the long-term. But we don’t have only history on our side. It makes perfect sense that commodities aren’t good long-term performers because they’re huge cost inputs in the capital structure. So they tend to have a very high correlation with inflation. (more…)

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Will 2014 Be The Tipping Point For Active ETFs? http://www.opalesque.com/Commodities_Briefing/?p=132670 http://www.opalesque.com/Commodities_Briefing/?p=132670#comments Mon, 15 Sep 2014 03:11:25 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132670 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132670>Article Link</a> The pace of new actively managed ETFs being released to the market has continued to heat up this year. Of the 106 total ETFs that are designated as active by the SEC, 35 have been released this year and many more are planned in the near future. (more…)

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Tokyo Commodity hopes cut costs with Osaka Exchange http://www.opalesque.com/Commodities_Briefing/?p=132669 http://www.opalesque.com/Commodities_Briefing/?p=132669#comments Mon, 15 Sep 2014 03:11:14 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132669 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132669>Article Link</a> The Tokyo Commodity Exchange is considering sharing a new system with the Osaka Exchange, a unit of Japan Exchange Group Inc., it has been learned. The Tokyo exchange hopes the move will help reduce costs as it faces the need to save system expenses and overcome its business difficulties caused by a slump in trading volume, sources said. It is expected to switch to the new system in autumn 2016. (more…)

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Currency question at heart of Scottish debate http://www.opalesque.com/Commodities_Briefing/?p=132668 http://www.opalesque.com/Commodities_Briefing/?p=132668#comments Mon, 15 Sep 2014 03:11:02 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132668 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132668>Article Link</a> In for a penny, in for a pound. There will be no going back if Scotland votes for independence from the United Kingdom on September 18. Opinion polls showing this may happen have prompted investors to sell off the British pound. If a knockout blow is dealt to Scotland’s 307-year union with England, that selling could accelerate as the UK plunges into a constitutional crisis. (more…)

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China’s Environmental Awakening http://www.opalesque.com/Commodities_Briefing/?p=132667 http://www.opalesque.com/Commodities_Briefing/?p=132667#comments Mon, 15 Sep 2014 03:10:50 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132667 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132667>Article Link</a> China today — as it begins to come to terms with air, water and land befouled by three decades of industrialization — bears some resemblance to the United States of the late 1960s. The Chinese are beginning to wonder, just as Americans did back then, whether “industrial progress” has come at too high a cost to the environment. Attitudes in China are changing. (more…)

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China plans $65bn carbon market – at around $18/tonne http://www.opalesque.com/Commodities_Briefing/?p=132666 http://www.opalesque.com/Commodities_Briefing/?p=132666#comments Mon, 15 Sep 2014 03:10:36 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132666 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132666>Article Link</a> Just two months after Australia trashed its carbon price because it was “too high” and would “trash the economy”, China has flagged that its planned carbon trading scheme will cover 40 per cent of its economy and be worth up to $65 billion. (more…)

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How poor countries seemed to be catching up with rich ones http://www.opalesque.com/Commodities_Briefing/?p=132665 http://www.opalesque.com/Commodities_Briefing/?p=132665#comments Mon, 15 Sep 2014 03:10:22 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132665 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132665>Article Link</a> If the 20th century belonged to the rich countries of North America and Europe, the thinking among some economists goes, then the 21st will be the era of the emerging world. Economic growth across emerging markets has been scorching since 2000. Some of the largest countries, like India and China, managed growth rates above 10% per year. Continued growth at such rates would mean a process of “convergence” with the rich world. (more…)

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Commodities Fall to 5-Year Low With Plenty of Supplies http://www.opalesque.com/Commodities_Briefing/?p=132664 http://www.opalesque.com/Commodities_Briefing/?p=132664#comments Fri, 12 Sep 2014 02:23:27 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132664 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132664>Article Link</a> Commodities fell to a five-year low on speculation abundant supplies and slowing economic growth outside of the U.S. will curb demand for raw materials. The Bloomberg Commodity Index declined to the lowest since July 2009. Brent oil traded at the cheapest since 2012, wheat, corn and soybeans retreated to four-year lows, and gold slumped to a seven-month low. (more…)

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Commodity prices slip on waning global appetite http://www.opalesque.com/Commodities_Briefing/?p=132663 http://www.opalesque.com/Commodities_Briefing/?p=132663#comments Fri, 12 Sep 2014 02:23:13 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132663 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132663>Article Link</a> Commodity prices are falling, the second time around in 2014. In the current quarter, till date, the Thomson Reuters CRB Commodity Index, a broad indicator, has declined by 7.7%. A similar indicator, the S&P GSCI Index, has fallen by 10.4%. What has contributed to this fall? Food prices are a reason. On Thursday, the UN’s Food and Agriculture Organization said its food price index fell to 196.6 points in August, a level last seen in September 2010. (more…)

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Commodity price slump is a matter of perspective http://www.opalesque.com/Commodities_Briefing/?p=132662 http://www.opalesque.com/Commodities_Briefing/?p=132662#comments Fri, 12 Sep 2014 02:22:55 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132662 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132662>Article Link</a> Commodity prices may have come under pressure this year, but they are still 115 per cent above their 1990s average, with iron ore and oil up over 500 per cent, according to a long-term analysis of commodity prices by HSBC. (more…)

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IEA Cuts 2015 Oil Demand Forecasts http://www.opalesque.com/Commodities_Briefing/?p=132661 http://www.opalesque.com/Commodities_Briefing/?p=132661#comments Fri, 12 Sep 2014 02:22:38 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132661 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132661>Article Link</a> The International Energy Agency Thursday trimmed its forecast for the rise in oil demand this year for the third month in a row, calling the recent slowdown in demand “nothing short of remarkable.” In its closely watched monthly oil market report, the Paris-based energy watchdog said it expects global oil demand to grow by 0.9 million barrels a day in 2014, a decrease of 65,000 barrels a day compared with last month’s forecast and down by 300,000 barrels a day since July. (more…)

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IEA Cuts Demand Estimate as Saudi Exports Drop to 2011 Low http://www.opalesque.com/Commodities_Briefing/?p=132660 http://www.opalesque.com/Commodities_Briefing/?p=132660#comments Fri, 12 Sep 2014 02:22:21 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132660 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132660>Article Link</a> The International Energy Agency cut its global oil demand forecasts for 2015 and said Saudi Arabia exported the least in almost three years as purchases slowed from China and Europe. (more…)

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Oil slumps to two-year low on IEA demand downgrade http://www.opalesque.com/Commodities_Briefing/?p=132659 http://www.opalesque.com/Commodities_Briefing/?p=132659#comments Fri, 12 Sep 2014 02:22:06 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132659 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132659>Article Link</a> Global oil prices hit a two-year low today after the International Energy Agency cut its forecasts for world demand, with the market also weighed down by plentiful supplies, analysts said. (more…)

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No need for urgent OPEC meet on lower oil price: Kuwait http://www.opalesque.com/Commodities_Briefing/?p=132658 http://www.opalesque.com/Commodities_Briefing/?p=132658#comments Fri, 12 Sep 2014 02:21:51 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132658 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132658>Article Link</a> OPEC member Kuwait said on Thursday there was no need to call an emergency meeting for the producers` cartel to discuss sliding oil prices after crude hit a 17-month low. “We do not believe there is a need to call an emergency OPEC meeting” to discuss the drop in prices, Oil Minister Ali al-Omair told reporters at the end of a regular meeting of the oil ministers of the Gulf Cooperation Council (GCC). (more…)

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Saudi oil minister plays down drop in oil price http://www.opalesque.com/Commodities_Briefing/?p=132657 http://www.opalesque.com/Commodities_Briefing/?p=132657#comments Fri, 12 Sep 2014 02:21:34 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132657 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132657>Article Link</a> Saudi Oil Minister Ali Al Naimi on Thursday played down the drop in oil prices saying this is not the first time crude prices slumped. “Prices of oil always go up and down so I really don’t know why the big fuss about it this time,” Al Naimi told reporters ahead of a regular meeting for oil ministers of the Gulf Cooperation Council (GCC) states in Kuwait City. (more…)

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Saudi Arabia can cope with $85 Oil and create global demand http://www.opalesque.com/Commodities_Briefing/?p=132656 http://www.opalesque.com/Commodities_Briefing/?p=132656#comments Fri, 12 Sep 2014 02:21:14 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132656 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132656>Article Link</a> Traditionally, lowering prices of Crude oil lead to a supply response from major OPEC producer, Saudi Arabia. However, this time around, it hasn’t done so but raised production since June. (more…)

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Sub-$100 Oil Is Just A Price, Not A Signpost http://www.opalesque.com/Commodities_Briefing/?p=132655 http://www.opalesque.com/Commodities_Briefing/?p=132655#comments Fri, 12 Sep 2014 02:20:44 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132655 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132655>Article Link</a> The fall in Brent prices below $100 for the first time in months is, to some, a startling development, especially given the insistence in some quarters that $150 is the next ‘target’ as economic recovery increases demand and shale oil production shows signs of weakness. (more…)

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Increase in Iran oil storage to increase export flexibility http://www.opalesque.com/Commodities_Briefing/?p=132654 http://www.opalesque.com/Commodities_Briefing/?p=132654#comments Fri, 12 Sep 2014 02:20:31 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132654 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132654>Article Link</a> A substantial increase in Iranian oil storage capacity will give the sanctions-hit country more flexibility to export crude, the International Energy Agency (IEA) said on Thursday. (more…)

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September is the time to buy gold, history suggests http://www.opalesque.com/Commodities_Briefing/?p=132653 http://www.opalesque.com/Commodities_Briefing/?p=132653#comments Fri, 12 Sep 2014 02:20:18 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132653 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132653>Article Link</a> For those who like to follow investment trends there is a new one that is growing in popularity – buying gold in September. Over the past 20 years, as the chart below shows, the gold price tends to shine in September. On average bullion has delivered returns of over 3pc, which is by far the best performing month for the precious metal. (more…)

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Gold Prices To Hit $5,000 Within The Next 3 To 4 Years http://www.opalesque.com/Commodities_Briefing/?p=132652 http://www.opalesque.com/Commodities_Briefing/?p=132652#comments Fri, 12 Sep 2014 02:19:48 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132652 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132652>Article Link</a> In April 2010 I made a somewhat controversial prediction that gold would reach $5,000 an ounce. I still believe this to be a realistic price target – and now prominent gold mining experts are following suit. Rob McEwen is more than qualified in the realm of gold mining – he’s the founder and former chairman and chief executive officer of GoldCorp Inc.(NYSE: GG), a $20 billion Canadian gold miner and the world’s largest by market cap. (more…)

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China holds “Gold Congress,” positioning itself as global gold hub http://www.opalesque.com/Commodities_Briefing/?p=132651 http://www.opalesque.com/Commodities_Briefing/?p=132651#comments Fri, 12 Sep 2014 02:19:30 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=132651 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=132651>Article Link</a> The China Gold Congress is currently in full flight in Beijing. The three day Congress is China’s biggest gold industry event of the year, drawing in participants from across the Chinese and international gold sectors including central banks, mining companies, bullion banks and refiners. (more…)

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