Opalesque Commodities Briefing http://www.opalesque.com/Commodities_Briefing Thu, 17 Apr 2014 00:19:21 +0000 http://wordpress.org/?v=2.5.1 en Influence of banks, hedge funds on commodities lowest since 2008 http://www.opalesque.com/Commodities_Briefing/?p=130378 http://www.opalesque.com/Commodities_Briefing/?p=130378#comments Thu, 17 Apr 2014 00:19:21 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130378 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130378>Article Link</a> United Nations economists who previously called for government intervention to tame volatile swings in commodity prices say banks and hedge funds have since reduced their influence to the lowest level since 2008. (more…)

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Material gains http://www.opalesque.com/Commodities_Briefing/?p=130377 http://www.opalesque.com/Commodities_Briefing/?p=130377#comments Thu, 17 Apr 2014 00:19:03 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130377 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130377>Article Link</a> Commodities: As commodity prices become decoupled from equities, certain resources should again prove their worth as part of a diversified portfolio this year. After a lacklustre few years, commodities have had a short but strong run over the first few months of 2014. (more…)

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Is the bear market in commodities over? http://www.opalesque.com/Commodities_Briefing/?p=130376 http://www.opalesque.com/Commodities_Briefing/?p=130376#comments Thu, 17 Apr 2014 00:18:49 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130376 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130376>Article Link</a> Commodity-related equities have now troughed, according to JPM’s Neil Gregson, who says that the market has moved past the point of maximum pessimism. Having significantly underperformed and hit investors with huge capital losses over recent years, commodity and basic material stocks have bounced back and performed well relative to the wider global equity market so far in 2014. (more…)

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GCC budget breakeven oil price creeps up http://www.opalesque.com/Commodities_Briefing/?p=130375 http://www.opalesque.com/Commodities_Briefing/?p=130375#comments Thu, 17 Apr 2014 00:18:35 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130375 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130375>Article Link</a> Budget breakeven oil prices in most Gulf Arab producers are creeping upwards, as governments continue to push through investment stimulus programs despite flatter production. The budget breakeven price is a useful tool to understand what price of oil is needed to ensure that a budget is in balance for a given level of government spending. (more…)

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Angola is moving into oil’s big leagues as it leaves decades of war behind http://www.opalesque.com/Commodities_Briefing/?p=130374 http://www.opalesque.com/Commodities_Briefing/?p=130374#comments Thu, 17 Apr 2014 00:18:22 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130374 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130374>Article Link</a> After decades of sporadic growth and political turmoil, Angola is on the verge of catapulting to the top ranks of the world’s energy economy following major deep-water production investments by several top global oil companies. (more…)

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China’s gold demand stagnates in 2014, a year after gold rush fueled by ‘grannies’ http://www.opalesque.com/Commodities_Briefing/?p=130373 http://www.opalesque.com/Commodities_Briefing/?p=130373#comments Thu, 17 Apr 2014 00:18:06 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130373 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130373>Article Link</a> China’s gold-loving grannies bought enough gold last year to see them through this year, and perhaps longer. Despite prices lower than this time a year ago, when the gold rush in the world’s second-largest economy began, demand is likely to remain level this year, the first time it has not increased since 2002. (more…)

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Bulls looking for $1.400 gold this year – can this level be reached? http://www.opalesque.com/Commodities_Briefing/?p=130372 http://www.opalesque.com/Commodities_Briefing/?p=130372#comments Thu, 17 Apr 2014 00:17:48 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130372 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130372>Article Link</a> Gold will remain a strong safe-haven bet in spite of its recent seesawing price as the Ukraine crisis and expectations of a further pullback in U.S. equities will push the precious metal’s price higher, CNBC’s weekly sentiment survey showed. (more…)

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Bear market in Silver may be entering its next (and final) down phase http://www.opalesque.com/Commodities_Briefing/?p=130371 http://www.opalesque.com/Commodities_Briefing/?p=130371#comments Thu, 17 Apr 2014 00:17:32 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130371 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130371>Article Link</a> Critics of price charting charge that charts only show for certain where a market has been. I completely agree. These charges are valid. Yet, understanding where market has been can provide historical context — and this historical context can be useful in anticipating the future. With the above disclaimer in mind, let’s take a look at Silver’s chart history. (more…)

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BMO: PGMs, nickel could buck 2Q seasonal trend; 2014 gold forecast revised to $1,263/oz http://www.opalesque.com/Commodities_Briefing/?p=130370 http://www.opalesque.com/Commodities_Briefing/?p=130370#comments Thu, 17 Apr 2014 00:17:13 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130370 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130370>Article Link</a> This could be the year that certain industrially oriented metals rise in the second quarter, thereby bucking their seasonal trend, said BMO Capital Markets. (more…)

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The invincible precious metal bears http://www.opalesque.com/Commodities_Briefing/?p=130369 http://www.opalesque.com/Commodities_Briefing/?p=130369#comments Thu, 17 Apr 2014 00:16:55 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130369 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130369>Article Link</a> A year ago today saw one of the largest declines in COMEX Gold and Silver futures in the last several decades. For those who argued that an electronic futures market– where an entire years worth of silver production can be bought or sold in one day– would always and everywhere be able to shrug off strong physical demand and set prices however futures traders saw fit, last April was vindication. (more…)

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Goldman Sachs upgrades nickel forecast on Indonesian export ban http://www.opalesque.com/Commodities_Briefing/?p=130368 http://www.opalesque.com/Commodities_Briefing/?p=130368#comments Thu, 17 Apr 2014 00:16:41 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130368 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130368>Article Link</a> US investment bank Goldman Sachs said Wednesday it has upgraded its three-month and six-month nickel price forecasts on the back of the Indonesian ban on nickel ore exports. (more…)

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Hedge fund ETF usage spikes – as satisfaction slumps http://www.opalesque.com/Commodities_Briefing/?p=130367 http://www.opalesque.com/Commodities_Briefing/?p=130367#comments Thu, 17 Apr 2014 00:16:25 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130367 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130367>Article Link</a> The EDHEC-Risk Institute’s latest survey of European investors in exchange-traded funds (ETFs) has revealed that the popularity of hedge fund products in the space has simultaneously jumped and slumped. 2013 was a good year for hedge fund ETFs in terms of their take-up by investors: their usage rose by 14.8% to a record high – above 40% – since the institute began its survey. (more…)

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Armajaro commodities fund assets fall almost 25 pct in first quarter http://www.opalesque.com/Commodities_Briefing/?p=130366 http://www.opalesque.com/Commodities_Briefing/?p=130366#comments Thu, 17 Apr 2014 00:16:14 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130366 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130366>Article Link</a> 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. (more…)

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HKEx said to plan coal futures as CEO Li makes commodities push http://www.opalesque.com/Commodities_Briefing/?p=130365 http://www.opalesque.com/Commodities_Briefing/?p=130365#comments Thu, 17 Apr 2014 00:16:00 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130365 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130365>Article Link</a> Hong Kong Exchanges & Clearing Ltd. Chief Executive Officer Charles Li is said to be picking coal for his company’s first energy product a year after paying a record price for the world’s top metals bourse. (more…)

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Malaysia seeks to attract Western commodity traders as new hub http://www.opalesque.com/Commodities_Briefing/?p=130364 http://www.opalesque.com/Commodities_Briefing/?p=130364#comments Thu, 17 Apr 2014 00:15:46 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130364 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130364>Article Link</a> A number of Western commodity companies are setting up new trading desks in Malaysia as the southeast Asian country introduces incentives in a bid to attract business away from the main regional trading hub Singapore. (more…)

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FMC mulls centre-specific commodity forward trades http://www.opalesque.com/Commodities_Briefing/?p=130363 http://www.opalesque.com/Commodities_Briefing/?p=130363#comments Thu, 17 Apr 2014 00:15:29 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130363 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130363>Article Link</a> The Forward Markets Commission (FMC) is considering permitting bourses to offer centre-specific, short-term forward trades in highly traded farm products as the regulator aims to increase delivery in the Rs 101- lakh crore commodity futures market, which is dominated by speculation and hedging. (more…)

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US tells China it must allow its currency to strengthen http://www.opalesque.com/Commodities_Briefing/?p=130362 http://www.opalesque.com/Commodities_Briefing/?p=130362#comments Thu, 17 Apr 2014 00:15:12 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130362 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130362>Article Link</a> The US has told China its currency must be allowed to rise if it and the global economy are to see stable growth. The US Treasury’s twice-yearly report to policymakers says the yuan is “significantly undervalued”. (more…)

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China denies U.S. warning of undervalued currency http://www.opalesque.com/Commodities_Briefing/?p=130361 http://www.opalesque.com/Commodities_Briefing/?p=130361#comments Thu, 17 Apr 2014 00:14:59 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130361 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130361>Article Link</a> China rejected on Wednesday a warning from the Obama administration that its currency was too weak, urging the United States to recognise that China aims to “perfect and regulate” the exchange rate system. (more…)

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UK carbon capture scheme wins GBP300mln from EU http://www.opalesque.com/Commodities_Briefing/?p=130360 http://www.opalesque.com/Commodities_Briefing/?p=130360#comments Thu, 17 Apr 2014 00:14:47 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130360 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130360>Article Link</a> Brussels is to grant €300m to a pioneering carbon capture and storage project in the UK. The move comes as the EU seeks to regain its lead in a technology seen as crucial in the fight against climate change. (more…)

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EU to host industry talks ahead of setting 2030 climate goals http://www.opalesque.com/Commodities_Briefing/?p=130359 http://www.opalesque.com/Commodities_Briefing/?p=130359#comments Thu, 17 Apr 2014 00:14:29 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130359 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130359>Article Link</a> The European Commission will hold three meetings this summer on how to ensure the bloc’s industries can compete in global markets while meeting goals to cut greenhouse gas emissions, it said on Wednesday. The meetings aim to gather views on rules determining if companies can continue to receive free carbon permits under the EU Emissions Trading System (ETS) beyond 2020, when current measures expire. (more…)

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Banks tussle to join next generation of commodity dealers http://www.opalesque.com/Commodities_Briefing/?p=130358 http://www.opalesque.com/Commodities_Briefing/?p=130358#comments Wed, 16 Apr 2014 01:02:02 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130358 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130358>Article Link</a> Facing low volatility, a lack of trading opportunities and compliance headaches, major global investment banks are pulling back from commodities. But at the same time, a number of smaller and regional players are actively seeking to increase their involvement. (more…)

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Time to rethink your commodity investment strategy, says Citi http://www.opalesque.com/Commodities_Briefing/?p=130357 http://www.opalesque.com/Commodities_Briefing/?p=130357#comments Wed, 16 Apr 2014 01:01:47 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130357 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130357>Article Link</a> It is time to take commodities seriously as an investment, and in particular a portfolio diversifier, according the strategists at Citi. They point out metals, hydrocarbons and basic foodstuffs have outperformed equities and bonds over the past quarter. (more…)

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China underinvestment affects commodities in South Africa http://www.opalesque.com/Commodities_Briefing/?p=130356 http://www.opalesque.com/Commodities_Briefing/?p=130356#comments Wed, 16 Apr 2014 01:01:34 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130356 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130356>Article Link</a> A long-term investment in South African commodities — especially gold — is expected to produce a sizable payoff, according to a CCTV Africa report. Standard Bank Commodities Analyst, Walter De Wet, expects that prices will continue to rise as stocks mature and production heightens. More importantly, with the increased investment of China, commodities in Africa — and on a global scale — will edge toward stability. (more…)

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Commodities shine as risk assets plunge http://www.opalesque.com/Commodities_Briefing/?p=130355 http://www.opalesque.com/Commodities_Briefing/?p=130355#comments Wed, 16 Apr 2014 01:01:19 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130355 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130355>Article Link</a> Prices of commodities including gold, copper and Brent crude oil are enjoying an uptick as global equity indices are spooked by a sell-off in tech stocks and political unrest in Eastern Europe, according to data from Charles Stanley. (more…)

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Pre El Nino implications for spring/summer weather and commodities http://www.opalesque.com/Commodities_Briefing/?p=130354 http://www.opalesque.com/Commodities_Briefing/?p=130354#comments Wed, 16 Apr 2014 01:01:08 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130354 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130354>Article Link</a> There is a lot of talk about El Nino and often, as is the case in commodities, some hype over which crops and futures contracts will be affected in coming weeks and months. It is important to look, not just at the timing of when El Nino forms and how strong it might be, but ocean temperatures in other parts of the globe. (more…)

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U.S. oil Independence by 2020? http://www.opalesque.com/Commodities_Briefing/?p=130353 http://www.opalesque.com/Commodities_Briefing/?p=130353#comments Wed, 16 Apr 2014 01:00:54 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130353 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130353>Article Link</a> Forecasts that the USA will achieve zero net oil imports by 2020 appear to be on-track. While the U.S. Energy Information Administration (EIA) and a number of media pundits (notably on the left side of the political spectrum) take a more cautious — or even downright negative — view, the US-EIA’s own data gives good reason for hope. (more…)

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Global oil supplies jump http://www.opalesque.com/Commodities_Briefing/?p=130352 http://www.opalesque.com/Commodities_Briefing/?p=130352#comments Wed, 16 Apr 2014 01:00:40 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130352 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130352>Article Link</a> Global supplies jumped by 600 kb/d in February to 92.89 mb/d, led by a significant rise in OPEC crude output of 500 kb/d. Compared with a year ago, February production stood 2.03 mb/d higher, with non-OPEC supply up by 2 mb/d and OPEC crude output nearly unchanged (-5 kb/d). (more…)

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Iran’s oil exports continue to surge despite sanctions cap: IEA report http://www.opalesque.com/Commodities_Briefing/?p=130351 http://www.opalesque.com/Commodities_Briefing/?p=130351#comments Wed, 16 Apr 2014 01:00:27 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130351 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130351>Article Link</a> Irans global crude oil exports have far-exceeded the one-million barrel-per-day cap set by the West. The Israeli paper referred to a recent IEA report as saying that Irans global oil exports in February made the highest record since June 2012. (more…)

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Why Angola may be the next OPEC Darling http://www.opalesque.com/Commodities_Briefing/?p=130350 http://www.opalesque.com/Commodities_Briefing/?p=130350#comments Wed, 16 Apr 2014 01:00:12 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130350 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130350>Article Link</a> French energy company Total said it was sinking $16 billion into oil projects off the coast of Angola. The French major is following the bread crumbs offshore Angola and now the country aims to re-establish itself as a major oil player by courting investors to onshore fields. (more…)

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OPEC says Azerbaijan’s oil production to rise by end-2014 http://www.opalesque.com/Commodities_Briefing/?p=130349 http://www.opalesque.com/Commodities_Briefing/?p=130349#comments Wed, 16 Apr 2014 00:59:57 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130349 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130349>Article Link</a> OPEC predicts Azerbaijan’s oil production to amount to 0.87 million barrels per day (bpd) on average in 2014, Azernews reported on April 14. OPEC’s April oil market report said the production in the country will reach 0.89 million bpd in the fourth quarter as the highest production level of the year. (more…)

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Is natural gas no better than coal? http://www.opalesque.com/Commodities_Briefing/?p=130348 http://www.opalesque.com/Commodities_Briefing/?p=130348#comments Wed, 16 Apr 2014 00:59:43 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130348 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130348>Article Link</a> A new study by scientists from Purdue and Cornell suggests that the methane emissions from shale gas could be much higher than previously thought. The study, published in the Proceedings of the National Academy of Sciences, looked at fugitive methane emissions in Pennsylvania by flying an airplane over drilling sites and collecting samples. What they found was a bit unnerving. (more…)

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Can gold confound the markets and hit $1,400? http://www.opalesque.com/Commodities_Briefing/?p=130347 http://www.opalesque.com/Commodities_Briefing/?p=130347#comments Wed, 16 Apr 2014 00:59:29 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130347 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130347>Article Link</a> Gold will remain a strong safe-haven bet in spite of its recent seesawing price as the Ukraine crisis and expectations of a further pullback in U.S. equities will push the precious metal’s price higher, CNBC’s weekly sentiment survey showed. (more…)

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China to witness sustained growth in gold demand: WGC http://www.opalesque.com/Commodities_Briefing/?p=130346 http://www.opalesque.com/Commodities_Briefing/?p=130346#comments Wed, 16 Apr 2014 00:59:13 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130346 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130346>Article Link</a> In a major report published on Monday by the World Gold Council “China’s gold market: progress and prospects” suggests that private sector demand for gold in China is set to increase from the current level of 1,132 tonnes(t)1 per year to at least 1,350t by 20172. (more…)

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Gold miners suffer as bullion price dips http://www.opalesque.com/Commodities_Briefing/?p=130345 http://www.opalesque.com/Commodities_Briefing/?p=130345#comments Wed, 16 Apr 2014 00:58:56 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130345 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130345>Article Link</a> Gold miners suffered declines as the price of the precious metal sank below its 200-day moving average and began Tuesday on track for its biggest one-day fall since October. (more…)

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Gold drops on Goldman Sach’s bearish outlook http://www.opalesque.com/Commodities_Briefing/?p=130344 http://www.opalesque.com/Commodities_Briefing/?p=130344#comments Wed, 16 Apr 2014 00:58:43 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130344 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130344>Article Link</a> On April 15 last year, gold prices had corrected sharply, following investment bank Goldman Sachs saying it had a bearish outlook on the commodity. At that time, prices had fallen from $1,600/oz to $1,300/oz in only a few days. (more…)

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China companies hoard gold for collateral http://www.opalesque.com/Commodities_Briefing/?p=130343 http://www.opalesque.com/Commodities_Briefing/?p=130343#comments Wed, 16 Apr 2014 00:58:30 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130343 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130343>Article Link</a> Chinese companies may have accumulated up to 1,000 tonnes of gold for use as collateral in financing deals rather than to meet consumer demand in recent years, a new study says. (more…)

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Dr. Doom is calling for an economic crash — How will precious metals be affected? http://www.opalesque.com/Commodities_Briefing/?p=130342 http://www.opalesque.com/Commodities_Briefing/?p=130342#comments Wed, 16 Apr 2014 00:58:18 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130342 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130342>Article Link</a> Apocalyptic predictions are usually the stuff of TV shows like “The Walking Dead,” but last week Marc Faber, a noted contrarian investor and publisher of the Gloom, Boom & Doom Report, made one of his own. (more…)

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Palladium is price king http://www.opalesque.com/Commodities_Briefing/?p=130341 http://www.opalesque.com/Commodities_Briefing/?p=130341#comments Wed, 16 Apr 2014 00:57:59 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130341 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130341>Article Link</a> Palladium prices have increased 16 percent since the beginning of February. Palladium is the best performer among precious metals since 2011 and it is close to reaching the record levels it recorded in spring 2011. (more…)

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Nickel drops most in two weeks on China demand concerns http://www.opalesque.com/Commodities_Briefing/?p=130340 http://www.opalesque.com/Commodities_Briefing/?p=130340#comments Wed, 16 Apr 2014 00:57:47 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130340 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130340>Article Link</a> Nickel prices in London fell for the first time in two weeks, snapping the longest rally since 2010, as industrial metals slumped amid concern that the economy will falter in China, the world’s biggest consumer. (more…)

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Copper price leads metals lower while nickel eyes $18,000/t http://www.opalesque.com/Commodities_Briefing/?p=130339 http://www.opalesque.com/Commodities_Briefing/?p=130339#comments Wed, 16 Apr 2014 00:57:28 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130339 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130339>Article Link</a> The nickel price finished an active Monday LME session firm and around a 14-month high but the rest of the complex were sideways to lower in Tuesday’s Asian session. The markets will be closely watching data out of China this week, as Beijing is set to release half of its monthly data this week. (more…)

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China Minmetals to buy world’s biggest copper mine http://www.opalesque.com/Commodities_Briefing/?p=130338 http://www.opalesque.com/Commodities_Briefing/?p=130338#comments Wed, 16 Apr 2014 00:57:05 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130338 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130338>Article Link</a> Minmetals China announced in April 14, that it has put pen to an agreement to buy Glencore Xstrata’s Las Bambas copper mine project in Peru for 5.85 billion U.S. dollars. The project marks the largest external metal mining purchase by a Chinese enterprise. (more…)

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With commodities surging take a look at industrial metals http://www.opalesque.com/Commodities_Briefing/?p=130337 http://www.opalesque.com/Commodities_Briefing/?p=130337#comments Wed, 16 Apr 2014 00:56:53 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130337 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130337>Article Link</a> Stocks have been taking a beating and the dreaded “correction” has been tossed around a lot. There is one group of assets however that are squarely in the middle of their own bull market – metals. Sure, gold and silver grab all the headlines, but industrial metals can make for some great investment plays too. (more…)

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An energy ETF favorite looks good http://www.opalesque.com/Commodities_Briefing/?p=130336 http://www.opalesque.com/Commodities_Briefing/?p=130336#comments Wed, 16 Apr 2014 00:56:37 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130336 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130336>Article Link</a> Equity-based energy exchange traded funds continue to shed the laggard status with which they were saddled last year and it is a diversified mix of funds that are seeing upside. Over the past month, the First Trust ISE-Revere Natural Gas Index Fund is the best-performing non-leveraged sector ETF with a gain of 11.1%, a performance that bests that of the United States Natural Gas Fund. (more…)

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US declines to name China a currency manipulator http://www.opalesque.com/Commodities_Briefing/?p=130335 http://www.opalesque.com/Commodities_Briefing/?p=130335#comments Wed, 16 Apr 2014 00:56:17 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130335 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130335>Article Link</a> The Obama administration is raising concern about the value of China’s currency but is declining, as in recent years, to accuse Beijing of manipulating it. The administration also expressed concern Tuesday about South Korea’s actions in currency markets and about countries that use the euro and have wide trade surpluses. (more…)

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Can commodities predict currencies? - Deutsche Bank http://www.opalesque.com/Commodities_Briefing/?p=130334 http://www.opalesque.com/Commodities_Briefing/?p=130334#comments Wed, 16 Apr 2014 00:55:52 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130334 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130334>Article Link</a> In a day where Aussie was dragged lower by falling gold prices, Deutsche Bank released an interesting paper where they claim to have found “stronger evidence that currencies can help predict commodity prices rather than vice versa.” (more…)

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Brazil looks to swap World Cup publicity for carbon credits http://www.opalesque.com/Commodities_Briefing/?p=130333 http://www.opalesque.com/Commodities_Briefing/?p=130333#comments Wed, 16 Apr 2014 00:55:38 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130333 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130333>Article Link</a> Brazil, looking to offset the carbon emissions generated by construction, travel and other activities related to hosting the 2014 Soccer World Cup, said on Tuesday it wants holders of United Nations-backed carbon credits to swap them for publicity during the games. (more…)

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U.S. greenhouse gas emissions fall 10 pct since 2005 -EPA http://www.opalesque.com/Commodities_Briefing/?p=130332 http://www.opalesque.com/Commodities_Briefing/?p=130332#comments Wed, 16 Apr 2014 00:55:23 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130332 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130332>Article Link</a> U.S. greenhouse gas emissions fell nearly 10 percent from 2005 to 2012, more than halfway toward the United States’ 2020 target pledged at United Nations climate talks, according to the latest national emissions inventory. (more…)

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Commodities seen by Goldman down after ‘transient events’ http://www.opalesque.com/Commodities_Briefing/?p=130331 http://www.opalesque.com/Commodities_Briefing/?p=130331#comments Tue, 15 Apr 2014 03:57:15 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130331 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130331>Article Link</a> 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. (more…)

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Hedge funds end ‘record’ ag commodity buying spree http://www.opalesque.com/Commodities_Briefing/?p=130330 http://www.opalesque.com/Commodities_Briefing/?p=130330#comments Tue, 15 Apr 2014 03:56:54 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130330 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130330>Article Link</a> Hedge funds’ longest run of bullish positioning by agricultural commodities in recent history ended as investors took profits on gains, as well as placing more bets on falling prices. Managed money, a proxy for speculators, cut its net long position in futures and options in the top 13 US-traded agricultural commodities, from cotton to cattle, by nearly 38,000 contracts in the week to last Tuesday, according to data from the Commodity Futures Trading Commission regulator. (more…)

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IEA official predicts global oil demand to hit 92.7 mln bpd http://www.opalesque.com/Commodities_Briefing/?p=130329 http://www.opalesque.com/Commodities_Briefing/?p=130329#comments Tue, 15 Apr 2014 03:56:41 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130329 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130329>Article Link</a> International demand for oil in 2014 is expected to reach 92.7 million barrels per day (bpd), including 8.1 million from the Middle East, said a senior official of the International Energy Agency (IEA) here on Monday. (more…)

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UAE support for oil price as demand picks up http://www.opalesque.com/Commodities_Briefing/?p=130328 http://www.opalesque.com/Commodities_Briefing/?p=130328#comments Tue, 15 Apr 2014 03:56:28 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130328 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130328>Article Link</a> Oil prices approaching US$110 a barrel are “acceptable” for producers and consumers, and Opec does not need to change its output target, said the UAE’s deputy energy chief. The group is scheduled to next meet in June in Vienna to debate its 30 million barrel per day (bpd) production ceiling, which has remained unchanged since December 2011. (more…)

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Rising prices for natural gas put pressure on oil sands producers http://www.opalesque.com/Commodities_Briefing/?p=130327 http://www.opalesque.com/Commodities_Briefing/?p=130327#comments Tue, 15 Apr 2014 03:56:15 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130327 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130327>Article Link</a> Oil sands companies, which have benefited from years of low natural gas prices, are once again facing rising costs as the commodity they need to fuel much of their operations becomes more expensive. (more…)

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Oil prices steady as Libya woes ease http://www.opalesque.com/Commodities_Briefing/?p=130326 http://www.opalesque.com/Commodities_Briefing/?p=130326#comments Tue, 15 Apr 2014 03:56:01 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130326 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130326>Article Link</a> Crude oil prices rose in early Monday trading amid tensions in Ukraine, but fell again after Libyan protesters ended their occupation of an oil port. The price of Brent crude futures briefly rose above $108 a barrel, but later fell back to $107.30. (more…)

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Global coal demand growth slows slightly: IEA http://www.opalesque.com/Commodities_Briefing/?p=130325 http://www.opalesque.com/Commodities_Briefing/?p=130325#comments Tue, 15 Apr 2014 03:55:48 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130325 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130325>Article Link</a> Tougher Chinese policies aimed at reducing dependency on coal will help restrain global coal demand growth over the next five years, the International Energy Agency (IEA) says in its annual Medium-Term Coal Market Report. (more…)

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Gold prices 2014: Do what Goldman does, not what it says http://www.opalesque.com/Commodities_Briefing/?p=130324 http://www.opalesque.com/Commodities_Briefing/?p=130324#comments Tue, 15 Apr 2014 03:55:35 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130324 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130324>Article Link</a> Goldman Sachs must really want to buy more gold; this week it repeated yet again its forecast for gold prices in 2014 to drop to $1,050 an ounce. That might sound contradictory at first, but not when it comes to Goldman. (more…)

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Goldman Sachs keeps year-end gold target at $1,050 http://www.opalesque.com/Commodities_Briefing/?p=130323 http://www.opalesque.com/Commodities_Briefing/?p=130323#comments Tue, 15 Apr 2014 03:55:20 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130323 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130323>Article Link</a> Goldman Sachs is keeping its year-end price target for gold at $1,050 an ounce, according to a recent research note — despite a nearly 2% gain in prices for the yellow metal over the past two weeks. (more…)

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The current price of gold in April 2014 http://www.opalesque.com/Commodities_Briefing/?p=130322 http://www.opalesque.com/Commodities_Briefing/?p=130322#comments Tue, 15 Apr 2014 03:55:03 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130322 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130322>Article Link</a> Gold is frequently viewed as insurance in moments of economic volatility or worldwide political turmoil. However, in 2013, gold prices dropped 24% against the U.S. dollar, marking gold’s third-worst decline since 1975. The drop turned many investors off to the yellow metal. (more…)

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Gold: In search of a new standard http://www.opalesque.com/Commodities_Briefing/?p=130321 http://www.opalesque.com/Commodities_Briefing/?p=130321#comments Tue, 15 Apr 2014 03:54:41 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130321 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130321>Article Link</a> The London fix has been in place for almost a century but critics say the system needs reform. To supporters of the gold fixing, its longevity is a mark of its efficiency and utility. To a growing group of critics, however, the benchmark is opaque, old fashioned and vulnerable to market abuse. (more…)

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Here’s what you need to know about today’s gold price surge http://www.opalesque.com/Commodities_Briefing/?p=130320 http://www.opalesque.com/Commodities_Briefing/?p=130320#comments Tue, 15 Apr 2014 03:54:26 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130320 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130320>Article Link</a> Demand for the lustrous metal has seen gold prices hit a three week high, with geopolitical risks seeing investors move towards the safe-haven asset. Seen as a hedge against inflation, other metals have also spiked as tensions over Ukraine heat up. (more…)

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Will silver break free from the $20 price range? http://www.opalesque.com/Commodities_Briefing/?p=130319 http://www.opalesque.com/Commodities_Briefing/?p=130319#comments Tue, 15 Apr 2014 03:54:11 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=130319 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=130319>Article Link</a> The price of silver remained nearly unchanged during last week. On the other hand, gold bounced back following the release of the minutes of the last FOMC meeting. Will silver resume its rally anytime soon? Or will it tumble down? Let’s analyze the recent news that may affect silver and the silver ETFs. (more…)

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