Opalesque Commodities Briefing http://www.opalesque.com/Commodities_Briefing Fri, 12 Feb 2016 00:31:40 +0000 http://wordpress.org/?v=2.5.1 en The Commodities Bubble: History Repeats Itself http://www.opalesque.com/Commodities_Briefing/?p=140222 http://www.opalesque.com/Commodities_Briefing/?p=140222#comments Fri, 12 Feb 2016 00:31:40 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140222 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140222>Article Link</a> All bubbles share similar characteristics. It all starts with strong demand for some object, whether it’s stocks, homes, commodities or tulips. In commodities, a bubble formed on hopes that China’s rapid growth would feed an ever-expanding appetite for raw materials. (more…)

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Commodities won’t save Australia from recession http://www.opalesque.com/Commodities_Briefing/?p=140221 http://www.opalesque.com/Commodities_Briefing/?p=140221#comments Fri, 12 Feb 2016 00:31:28 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140221 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140221>Article Link</a> The chief executive of the Australian Securities Exchange is warning that Australia needs to confront structural economic reforms to make a successful transition from the once-in-a-century mining boom. (more…)

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Was Resource Boom A Boom For Commodities Exporters? http://www.opalesque.com/Commodities_Briefing/?p=140220 http://www.opalesque.com/Commodities_Briefing/?p=140220#comments Fri, 12 Feb 2016 00:31:13 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140220 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140220>Article Link</a> While everyone is running around with the collapsed oil prices, economists with an eye for cycles and history are starting to digest the aftermath of the passed commodities price boom that started around the beginning of the century and lasted until 2011-2012. (more…)

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Oil price will recover to $100 unless there is further climate action, says BP http://www.opalesque.com/Commodities_Briefing/?p=140219 http://www.opalesque.com/Commodities_Briefing/?p=140219#comments Fri, 12 Feb 2016 00:30:38 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140219 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140219>Article Link</a> A global glut of oil will eventually be eroded by steadily increasing demand and its price will spike to $100 a barrel a number of times over the coming years, according to oil major BP. In its annual Energy Outlook report, the company presents a “base” case scenario that would mean fossil fuels, including oil, still accounting for 80 per cent of all the world’s energy needs by 2035. (more…)

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Analysts See Crude Below $20 A Barrel This Year http://www.opalesque.com/Commodities_Briefing/?p=140218 http://www.opalesque.com/Commodities_Briefing/?p=140218#comments Fri, 12 Feb 2016 00:30:23 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140218 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140218>Article Link</a> With U.S. oil prices tumbling to less than $27 a barrel Thursday, speculation is swarming that prices could plunge into the teens. A drop that steep seems less outlandish today than even a few months ago, when many analysts still expected oil to return to $50 a barrel or higher. But fears that the world is oversupplied with crude have only deepened as producers keep pumping more barrels and demand growth slows in key markets like China and Europe. (more…)

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Tullow Oil chief: Crude oil price to jump to $65 http://www.opalesque.com/Commodities_Briefing/?p=140217 http://www.opalesque.com/Commodities_Briefing/?p=140217#comments Fri, 12 Feb 2016 00:30:08 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140217 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140217>Article Link</a> Oil prices should recover in the second half of this year and end 2016 at between $60 and $65 per barrel, Tullow Oil chief Aidan Heavey has said. Heavey, but said the second half of this year should see signs of recovery both for Tullow and the broader industry. (more…)

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Iran prices oil lower than Saudi for Europe http://www.opalesque.com/Commodities_Briefing/?p=140216 http://www.opalesque.com/Commodities_Briefing/?p=140216#comments Fri, 12 Feb 2016 00:29:41 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140216 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140216>Article Link</a> Iran has revealed its oil prices to European buyers for the first time since sanctions were lifted against the Middle Eastern country. The most competitive pricing compared with Saudi Arabian supply in 21 months underscores its intention to win back market share. (more…)

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Venezuela proposes OPEC, non-OPEC producers “freeze” oil supply http://www.opalesque.com/Commodities_Briefing/?p=140215 http://www.opalesque.com/Commodities_Briefing/?p=140215#comments Fri, 12 Feb 2016 00:29:22 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140215 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140215>Article Link</a> Some OPEC countries are trying to achieve a consensus among the group and key non-members for an oil production “freeze”, sources familiar with the discussions say, in an attempt to tackle the global glut without cutting supply. (more…)

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Strong H2 Uptick In Gold Demand In 2015 - WGC http://www.opalesque.com/Commodities_Briefing/?p=140214 http://www.opalesque.com/Commodities_Briefing/?p=140214#comments Fri, 12 Feb 2016 00:29:05 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140214 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140214>Article Link</a> The World Gold Council’s latest Gold Demand Trends report for full-year 2015 is now out, utilising data prepared by the London-based precious metals consultancy - Metals Focus. (more…)

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Gold Price Jumps 4%, ‘Targets $1420′ http://www.opalesque.com/Commodities_Briefing/?p=140213 http://www.opalesque.com/Commodities_Briefing/?p=140213#comments Fri, 12 Feb 2016 00:28:52 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140213 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140213>Article Link</a> Gold Prices shot higher yet again Thursday, surging 4.1% to hit 12-month highs near $1250 per ounce as world stock markets fell hard yet again, and the US Dollar hit fresh multi-month lows on the FX market following Fed chair Yellen’s comments on delaying further interest-rate hikes. (more…)

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Gold rises to $1,260 a troy ounce on haven demand http://www.opalesque.com/Commodities_Briefing/?p=140212 http://www.opalesque.com/Commodities_Briefing/?p=140212#comments Fri, 12 Feb 2016 00:28:35 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140212 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140212>Article Link</a> The price of gold rose to $1,260 a troy ounce in trading on Thursday, on course for its biggest one-day gain since the financial crisis as investors sought havens from broad financial turmoil. (more…)

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Indian Gold Demand Seen Rising in 2016 http://www.opalesque.com/Commodities_Briefing/?p=140211 http://www.opalesque.com/Commodities_Briefing/?p=140211#comments Fri, 12 Feb 2016 00:28:21 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140211 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140211>Article Link</a> India’s gold demand is likely to rise this year as investors have factored in interest rate hikes by the U.S. Federal Reserve, while the turmoil in stock markets is making the metal attractive, the World Gold Council (WGC) said on Thursday. (more…)

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Market panic pushes gold buying to highest level since financial crisis http://www.opalesque.com/Commodities_Briefing/?p=140210 http://www.opalesque.com/Commodities_Briefing/?p=140210#comments Fri, 12 Feb 2016 00:25:16 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140210 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140210>Article Link</a> Funds that invest in gold have been flooded by nervous investors seeking shelter from stock market volatility. The stock market plunge has triggered a gold buying spree with a popular fund that tracks the metal accepting the most cash on a single day since the financial crisis on Tuesday. (more…)

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Global gold demand was flat in 2015 http://www.opalesque.com/Commodities_Briefing/?p=140209 http://www.opalesque.com/Commodities_Briefing/?p=140209#comments Fri, 12 Feb 2016 00:25:01 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140209 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140209>Article Link</a> Global gold demand was broadly unchanged last year, but a fall in supply could be positive for the market going forward, said the World Gold Council Thursday. Demand in China, one of the biggest buyers of the precious metal, also fell, in another sign of that country’s fragile economic state. Overall, a surge in demand in the second half of the year countered a lackluster first half. (more…)

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Global Demand for Gold ETFs Could Support Rally http://www.opalesque.com/Commodities_Briefing/?p=140208 http://www.opalesque.com/Commodities_Briefing/?p=140208#comments Fri, 12 Feb 2016 00:24:50 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140208 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140208>Article Link</a> Gold exchange-traded funds are going global, and one strategist contends that wider ownership will fortify the precious metal from selling by fickle American investors. You can quibble about magnitude, but a flood of dollars into gold-tracking exchange-traded funds seems to be stoking a rise in price of gold itself. (more…)

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Alternative ETFs To Fight The Slump http://www.opalesque.com/Commodities_Briefing/?p=140207 http://www.opalesque.com/Commodities_Briefing/?p=140207#comments Fri, 12 Feb 2016 00:24:34 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140207 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140207>Article Link</a> With sell-off and volatility being the catchwords in the broader equity market since the start of the year, investors might be clueless about the future movement and apprehensive of more corrections lurking ahead. This was true given the steepening of the longstanding woes in the Chinese economy, the never-ending worries in the energy sector and an emerging market lull. (more…)

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Indian Regulator puts rider for commodity derivative reforms http://www.opalesque.com/Commodities_Briefing/?p=140206 http://www.opalesque.com/Commodities_Briefing/?p=140206#comments Fri, 12 Feb 2016 00:24:22 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140206 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140206>Article Link</a> At an event here, P K Bindish, chief general manger at the regulatory body, the Securities and Exchange Board of India (Sebi), said: “We want the commodity futures market to bring risk management at par with the equity market before allowing new instruments and a new set of participants for hedging on commexes.” (more…)

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Currency turmoil casts doubt on forex pegs http://www.opalesque.com/Commodities_Briefing/?p=140205 http://www.opalesque.com/Commodities_Briefing/?p=140205#comments Fri, 12 Feb 2016 00:24:08 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140205 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140205>Article Link</a> Market turmoil often radiates from currencies and showdowns between central banks and aggressive investors. A burning question early in 2016 is how long countries such as China, Saudi Arabia and others can continue to rely on currency reserves to spare their currencies from a pronounced drop in value. (more…)

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China’s Currency Will Diminish Dollar’s Role in International Trade http://www.opalesque.com/Commodities_Briefing/?p=140204 http://www.opalesque.com/Commodities_Briefing/?p=140204#comments Fri, 12 Feb 2016 00:23:58 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140204 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140204>Article Link</a> The Chinese government has taken steps to promote the international use of its currency, the renminbi, which will diminish the dollar’s role in international trade, according to a report from the Brookings Institution. The steps China has taken to internationalize the renminbi have been gaining traction and the currency now represents the fifth-most important payment currency in the world. (more…)

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Australian PM inherits climate sceptic for deputy http://www.opalesque.com/Commodities_Briefing/?p=140203 http://www.opalesque.com/Commodities_Briefing/?p=140203#comments Fri, 12 Feb 2016 00:23:44 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140203 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140203>Article Link</a> Australian Prime Minister Malcolm Turnbull has inherited a hard-right, climate change sceptic for his deputy after the retirement of his current No.2 on Thursday, an appointment that could block any revamp of an emissions trading scheme. (more…)

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With oil fee, Obama shows plan for sector-by-sector carbon price http://www.opalesque.com/Commodities_Briefing/?p=140202 http://www.opalesque.com/Commodities_Briefing/?p=140202#comments Fri, 12 Feb 2016 00:23:33 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140202 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140202>Article Link</a> U.S. President Barack Obama’s budget would raise $319 billion over 10 years from the phased introduction of an oil fee equivalent to $10.25 per barrel on crude oil, according to budget documents published on Tuesday. (more…)

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UK production slumps as commodities take a hammering http://www.opalesque.com/Commodities_Briefing/?p=140201 http://www.opalesque.com/Commodities_Briefing/?p=140201#comments Thu, 11 Feb 2016 00:53:51 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140201 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140201>Article Link</a> UK production slumped dramatically in December as resource companies took a hammering from the global commodity price crash. Overall production dropped 1.1% over the period, far outstripping expectations of a 0.1% decline. While manufacturing was little changed, mining and quarrying output led the index lower, down 4%. (more…)

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Baltic index slips further, hits new record low http://www.opalesque.com/Commodities_Briefing/?p=140200 http://www.opalesque.com/Commodities_Briefing/?p=140200#comments Thu, 11 Feb 2016 00:53:40 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140200 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140200>Article Link</a> The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, extended its record decline for the 12th straight session on Wednesday due to concerns about demand. The Baltic dry index is down about 98 percent from its peak of 11,793 points in May 2008, marking the lowest level since the records began in 1985. (more…)

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Low commodity prices strain Nigeria and Angola’s economic confidence http://www.opalesque.com/Commodities_Briefing/?p=140199 http://www.opalesque.com/Commodities_Briefing/?p=140199#comments Thu, 11 Feb 2016 00:53:28 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140199 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140199>Article Link</a> Many African economies are feeling the pressure of low commodity prices as shown by the YPO’s Global Pulse world ranking. According to the survey, economic confidence shows the region at its lowest in six years. (more…)

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BP upbeat about oil industry and expects prices back at $100 http://www.opalesque.com/Commodities_Briefing/?p=140198 http://www.opalesque.com/Commodities_Briefing/?p=140198#comments Thu, 11 Feb 2016 00:53:15 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140198 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140198>Article Link</a> British oil company accused of being self-serving after saying fossil fuels will still be providing 80% of world’s total energy supply in 2035. BP has predicted a bright future for the oil and gas industry with crude prices spiking at $100 a barrel again, huge increases in shale output and new production from Canadian tar sands. (more…)

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Russian oil giant hits out at Opec price war http://www.opalesque.com/Commodities_Briefing/?p=140197 http://www.opalesque.com/Commodities_Briefing/?p=140197#comments Thu, 11 Feb 2016 00:53:02 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140197 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140197>Article Link</a> The Rosneft boss has slammed the cartel for playing an ‘irresponsible game’ with oil prices. Russia’s largest oil producer has criticised Opec, branding its decision to maintain production in the face of the ongoing oil price rout “irresponsible”. (more…)

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OPEC expects rivals to pump out less oil in 2016 http://www.opalesque.com/Commodities_Briefing/?p=140196 http://www.opalesque.com/Commodities_Briefing/?p=140196#comments Thu, 11 Feb 2016 00:52:50 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140196 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140196>Article Link</a> Oil cartel OPEC has cut its forecasts for how much its rival producers will produce in in 2016, while the 12-member group continues to ramp up its own production levels. (more…)

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Iran Backs Talks Strengthening Global Oil Market http://www.opalesque.com/Commodities_Briefing/?p=140195 http://www.opalesque.com/Commodities_Briefing/?p=140195#comments Thu, 11 Feb 2016 00:52:31 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140195 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140195>Article Link</a> Iran supports dialogue based on strengthening the global oil market, acting Deputy Petroleum Minister Masoud Hashemian Esfahani said Wednesday. “Iran supports any negotiations that are able to strive the market, and this market is not good for producers and consumers… many producers want the world oil market to be stronger,” Esfahani said at a press conference in Moscow. (more…)

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5 new oil market insights from Wood Mackenzie that you need to hear http://www.opalesque.com/Commodities_Briefing/?p=140194 http://www.opalesque.com/Commodities_Briefing/?p=140194#comments Thu, 11 Feb 2016 00:52:13 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140194 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140194>Article Link</a> Harold “Skip” York told Calgary financial analysts that while there is a lot of health looking 2020+, survival will be challenging until we get there. 1. York said that oil will not return to $110/bbl. “We now think that fundamentally this long-term oil market is about an $80 to $85 world.” (more…)

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How Far Can Gold Price Go? http://www.opalesque.com/Commodities_Briefing/?p=140193 http://www.opalesque.com/Commodities_Briefing/?p=140193#comments Thu, 11 Feb 2016 00:52:02 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140193 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140193>Article Link</a> Gold has broken higher through its long term downtrend line with the most recent rally. This break begs the question of how much longer gold can continue rallying. In this article we analyse the technical situation for gold to determine at what level gold is likely to cease rallying, the fundamentals in play, and what would have to change to cause a new bull market in gold. (more…)

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Gold prices reverse on profit-taking http://www.opalesque.com/Commodities_Briefing/?p=140192 http://www.opalesque.com/Commodities_Briefing/?p=140192#comments Thu, 11 Feb 2016 00:51:49 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140192 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140192>Article Link</a> Gold prices were lower on the London spot market Wednesday, as traders took profit following a recent price rally that saw the metal touch a key trading level. Spot gold was down 0.4 per cent at $US1,184.22 a troy ounce in mid-morning European trade, a two-day low, having reached $US1,200 an ounce in Monday’s session. (more…)

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Silver market supply and demand trends for 2016 http://www.opalesque.com/Commodities_Briefing/?p=140191 http://www.opalesque.com/Commodities_Briefing/?p=140191#comments Thu, 11 Feb 2016 00:51:35 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140191 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140191>Article Link</a> Silver is prized for its dual role as a monetary asset as well as an important industrial metal used in a range of existing and growing applications. Factors driving the silver market include supply and demand fundamentals, global economic performance, geopolitical issues, interest rates, currency fluctuations and investor sentiment, among others. (more…)

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Dr. Copper Is Looking More Fit http://www.opalesque.com/Commodities_Briefing/?p=140190 http://www.opalesque.com/Commodities_Briefing/?p=140190#comments Thu, 11 Feb 2016 00:51:21 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140190 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140190>Article Link</a> Copper prices recently hit a one-month high as the dollar fell on weakening interest-rate hike fears. Recent data suggest China’s economic growth is on track, with copper demand holding steady. Motifs mentioned: Dr. Copper. With stocks struggling mightily this year – the Nasdaq touched a 22-month low on Monday – few sectors have offered much promise. (more…)

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Alternative ETFs to Fight the Slump http://www.opalesque.com/Commodities_Briefing/?p=140189 http://www.opalesque.com/Commodities_Briefing/?p=140189#comments Thu, 11 Feb 2016 00:51:09 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140189 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140189>Article Link</a> With sell-off and volatility being the catchwords in the broader equity market since the start of the year, investors might be clueless about the future movement and apprehensive of more corrections lurking ahead. This was true given the steepening of the longstanding woes in the Chinese economy, never-ending worries in the energy sector and an emerging market lull. (more…)

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Even With Rally, Gold ETFs are Still in Bear Markets http://www.opalesque.com/Commodities_Briefing/?p=140188 http://www.opalesque.com/Commodities_Briefing/?p=140188#comments Thu, 11 Feb 2016 00:50:57 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140188 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140188>Article Link</a> The SPDR Gold Shares, the world’s largest exchange traded fund backed by physical holdings of gold, has surged more than 12% to start 2016. While that is an impressive showing, GLD and rival gold exchange traded products remain mired in bear markets, indicating there is more work to be done. (more…)

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Private-Plane Purchases Drop 3.1% as Commodities Market Tumbles http://www.opalesque.com/Commodities_Briefing/?p=140187 http://www.opalesque.com/Commodities_Briefing/?p=140187#comments Thu, 11 Feb 2016 00:50:46 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140187 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140187>Article Link</a> Spending on business aircraft fell 3.1 percent last year as a commodities downturn crimped demand for long-range jets in emerging markets. Companies and wealthy individuals spent $18.7 billion on private jets, according to the General Aviation Manufacturers Association. The report is adjusted because Bombardier Inc. hasn’t reported fourth-quarter results yet. (more…)

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Commodity Currencies Fall Amid Rising Risk Aversion http://www.opalesque.com/Commodities_Briefing/?p=140186 http://www.opalesque.com/Commodities_Briefing/?p=140186#comments Thu, 11 Feb 2016 00:50:32 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140186 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140186>Article Link</a> Commodity currencies such as the Australian, the New Zealand and the Canadian dollars weakened against their major counterparts in the Asian session on Wednesday amid rising risk aversion, as worries about global economic growth continued to weigh on investor sentiment. (more…)

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Janet Yellen quietly wages currency war http://www.opalesque.com/Commodities_Briefing/?p=140185 http://www.opalesque.com/Commodities_Briefing/?p=140185#comments Thu, 11 Feb 2016 00:50:21 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140185 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140185>Article Link</a> Janet Yellen, the head of the US Federal Reserve, has decided that a “passive-aggressive” stance works best when it comes to fighting global currency wars. Unlike her two main counterparts – Mario Draghi, president of the European Central Bank (ECB) and Haruhiko Kuroda, governor of the Bank of Japan – Yellen is eschewing aggressive acts of hostility – such as negative interest rates. (more…)

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China can use capital controls to fix its currency problem http://www.opalesque.com/Commodities_Briefing/?p=140184 http://www.opalesque.com/Commodities_Briefing/?p=140184#comments Thu, 11 Feb 2016 00:50:10 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140184 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140184>Article Link</a> For months, China’s exchange-rate policy has been roiling global financial markets. More precisely, confusion about that policy has been roiling the markets. Chinese officials have done a poor job communicating their intentions, encouraging the belief that they don’t know what they’re doing. (more…)

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Despite carbon ruling, White House says U.S. can meet climate deal goals http://www.opalesque.com/Commodities_Briefing/?p=140183 http://www.opalesque.com/Commodities_Briefing/?p=140183#comments Thu, 11 Feb 2016 00:49:56 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140183 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140183>Article Link</a> The White House promised on Wednesday that it would be able to uphold U.S. commitments to an international climate change agreement, as a court ruling heightened concerns about the stability of the global carbon reduction pact reached last year. (more…)

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U.S. court move to block emission plan fails to sustain coal shares’ boost http://www.opalesque.com/Commodities_Briefing/?p=140182 http://www.opalesque.com/Commodities_Briefing/?p=140182#comments Thu, 11 Feb 2016 00:49:45 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140182 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140182>Article Link</a> The U.S. Supreme Court’s decision to block federal regulations to curb carbon dioxide emissions failed to give a sustained boost to shares of the long-battered coal sector on Wednesday. (more…)

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U.S. Farm Income Will Drop for Third Year in Commodity Slump http://www.opalesque.com/Commodities_Briefing/?p=140181 http://www.opalesque.com/Commodities_Briefing/?p=140181#comments Wed, 10 Feb 2016 01:14:02 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140181 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140181>Article Link</a> The U.S. Department of Agriculture forecast that farmers will face a drop in profit for the third straight year as persistent surpluses depress crop and livestock prices. Farm net income will be $54.8 billion in 2016, the USDA said Tuesday in a report on its website, 2.8 percent less than the $56.4 billion estimated for 2015. (more…)

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No reversal of commodities price slump soon http://www.opalesque.com/Commodities_Briefing/?p=140180 http://www.opalesque.com/Commodities_Briefing/?p=140180#comments Wed, 10 Feb 2016 01:13:49 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140180 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140180>Article Link</a> Anglo American’s chief executive said on Monday the mining industry had itself to blame for oversupply in the market and cannot rely on a reversal of the commodities price slump anytime soon. Mark Cutifani told a mining conference that for some producers, adjusting supply to align with decreasing demand growth may not make sense as they seek to maintain market share and drive competitors out of business. (more…)

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Negotiating the Commodity Tightrope http://www.opalesque.com/Commodities_Briefing/?p=140179 http://www.opalesque.com/Commodities_Briefing/?p=140179#comments Wed, 10 Feb 2016 01:13:35 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140179 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140179>Article Link</a> A cocktail of the ‘4Cs’ – Currency headwinds, China headwinds, Contango headwinds, and Cost deflation headwinds – that has driven commodity investor returns into negative territory is not about to change. (more…)

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Commodities: What Comes Next to Move Markets? (Video) http://www.opalesque.com/Commodities_Briefing/?p=140178 http://www.opalesque.com/Commodities_Briefing/?p=140178#comments Wed, 10 Feb 2016 01:13:23 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140178 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140178>Article Link</a> Eric Lee, commodities strategy research analyst at Citigroup, discusses shocks that could affect the oil market, central banks’ influence on commodities, and the likelihood of a coordinated cut in oil production. He speaks on “Bloomberg Surveillance.”. (more…)

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Won’t be surprised to see oil below $20: Goldman Sachs http://www.opalesque.com/Commodities_Briefing/?p=140177 http://www.opalesque.com/Commodities_Briefing/?p=140177#comments Wed, 10 Feb 2016 01:13:10 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140177 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140177>Article Link</a> Goldman Sachs commodity strategist Jeff Currie sees a potential for oil price to drop below $20 a barrel if storage capacity is breached. “The $20 is based upon what we call cash cost, meaning that once you breach storage capacity, prices have to spike below cash cost because you’ve got to shut production in almost immediately,” he told a TV channel. (more…)

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IEA warns of ‘false dawn’ in oil prices with market ‘awash’ http://www.opalesque.com/Commodities_Briefing/?p=140176 http://www.opalesque.com/Commodities_Briefing/?p=140176#comments Wed, 10 Feb 2016 01:12:56 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140176 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140176>Article Link</a> Oil stockpiles are forecast to keep swelling this year, meaning the recent uptick in prices could be a “false dawn”, the world’s leading energy body said on Tuesday. In its monthly oil market report the International Energy Agency said the the surplus of supply over demand at the start of 2016 is “even greater” than initially expected. (more…)

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Oil price recovery will be short-lived, says IEA http://www.opalesque.com/Commodities_Briefing/?p=140175 http://www.opalesque.com/Commodities_Briefing/?p=140175#comments Wed, 10 Feb 2016 01:12:45 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140175 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140175>Article Link</a> A recent rise in oil prices is a “false dawn” and the oversupply of crude is set to worsen, according to the International Energy Agency (IEA). The IEA expects oil stocks to grow by two million barrels a day in the first quarter and 1.5 million barrels a day in the following three months. (more…)

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IEA says oil supply will far outstrip demand in 2016 http://www.opalesque.com/Commodities_Briefing/?p=140174 http://www.opalesque.com/Commodities_Briefing/?p=140174#comments Wed, 10 Feb 2016 01:12:32 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140174 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140174>Article Link</a> The International Energy Agency says oil supply is set to outpace demand this year, keeping a lid on any expected price increases. The organization, which advises countries on energy policy, said in its monthly report Tuesday that global excess supply may reach 2 million barrels per day during the first quarter, and a further 1.5 million barrels a day in the second quarter. (more…)

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Cheap oil for longer may trigger a new era of OPEC dominance http://www.opalesque.com/Commodities_Briefing/?p=140173 http://www.opalesque.com/Commodities_Briefing/?p=140173#comments Wed, 10 Feb 2016 01:12:14 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140173 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140173>Article Link</a> Lower oil prices for longer could result in a new epoch of dominance for the Organization of the Petroleum Exporting Countries. That could increase risks that non-OPEC countries again will become dependent on oil from the volatile region, according to comments on Tuesday from officials at the International Energy Agency. (more…)

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Don’t hold your breath for a Saudi-led OPEC push to cut output http://www.opalesque.com/Commodities_Briefing/?p=140172 http://www.opalesque.com/Commodities_Briefing/?p=140172#comments Wed, 10 Feb 2016 01:11:57 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140172 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140172>Article Link</a> By now, any scenarios in which Canada’s battered economy is rescued by a sudden upturn in oil prices have largely disappeared from the conversation. All save one. A hope that one sunny morning Saudi Arabia may wake up, realize the error of its ways, and decide to curtail production remains alive for the oil industry. And why not? (more…)

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Oil Bankruptcies Seen Spurring M&A on Signal Prices Near Low http://www.opalesque.com/Commodities_Briefing/?p=140171 http://www.opalesque.com/Commodities_Briefing/?p=140171#comments Wed, 10 Feb 2016 01:11:40 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140171 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140171>Article Link</a> About 150 oil and gas companies tracked by energy consultant IHS Inc. may go bust as a supply glut pressures prices and punishes revenues. The number of companies at risk is more than twice the 60 producers that have already filed for bankruptcy, Bob Fryklund, chief upstream analyst at IHS, said in an interview. (more…)

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Technician says fan pattern in gold price shows big breakout is coming http://www.opalesque.com/Commodities_Briefing/?p=140170 http://www.opalesque.com/Commodities_Briefing/?p=140170#comments Wed, 10 Feb 2016 01:11:19 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140170 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140170>Article Link</a> The gold price has been wallowing around $1,050 to $1,180 since June 2013, sending plenty of confusing signals as it built a very broad consolidation base. Now, the rally in gold has the potential to develop into a breakout from the consolidation base and become a new uptrend. But the strength and sustainability of the gold rally is still not unclear. (more…)

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$1200 Gold ‘Breaks Downtrends’, Defies 2016 Price Forecasts http://www.opalesque.com/Commodities_Briefing/?p=140169 http://www.opalesque.com/Commodities_Briefing/?p=140169#comments Wed, 10 Feb 2016 01:11:06 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140169 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140169>Article Link</a> Gold prices recovered most of a 1.1% overnight drop from yesterday’s 8-month high of $1200 per ounce in London trade Tuesday, rising back to $1198 as European stock markets slumped again, and the Dollar fell on the FX market, following a 5% plunge in Japanese equities. (more…)

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A Bullish Gold Price Forecast For The Next 6 Months http://www.opalesque.com/Commodities_Briefing/?p=140168 http://www.opalesque.com/Commodities_Briefing/?p=140168#comments Wed, 10 Feb 2016 01:10:52 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140168 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140168>Article Link</a> Gold is on the move. As stocks are selling off big time, the gold market is the big beneficiary with a significant inflow of capital. Is that any coincidence? No, it is not, because the gold market was deeply oversold. (more…)

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Why Gold Has Been on a Tear in 2016 http://www.opalesque.com/Commodities_Briefing/?p=140167 http://www.opalesque.com/Commodities_Briefing/?p=140167#comments Wed, 10 Feb 2016 01:10:31 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140167 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140167>Article Link</a> The stock market is having a horrible time so far in 2016, with the S&P 500 down more than 9%. Gold, on the other hand, is up nearly 10% year-to-date and hit a four-month high of just under $1200 per ounce on Monday before dipping 0.7% Tuesday to $1189.30. (more…)

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3 Reasons You Shouldn’t Wait For $1,000 Gold http://www.opalesque.com/Commodities_Briefing/?p=140166 http://www.opalesque.com/Commodities_Briefing/?p=140166#comments Wed, 10 Feb 2016 01:10:14 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140166 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140166>Article Link</a> Why? Because it may not happen. And even if it does, $1,000—or any price tag in your mind—won’t guarantee the actual bottom. The biggest risk is that you don’t pull the trigger at all. (more…)

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Goldman Sachs Says Metals Set to Underperform Oil, Cuts Price Forecasts http://www.opalesque.com/Commodities_Briefing/?p=140165 http://www.opalesque.com/Commodities_Briefing/?p=140165#comments Wed, 10 Feb 2016 01:09:59 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140165 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140165>Article Link</a> Goldman Sachs on Monday said metals, particularly copper and aluminum, are set to underperform oil in the near future on subdued global demand growth and a sluggish Chinese economy. “Around mid-2016 and through 2017, we expect that the oil market will adjust, while metals markets are set to weaken further, particularly copper and aluminum, resulting in substantial downside to metals prices relative to oil over the period,” the bank said. (more…)

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New SEC Rule Proposals Aimed at ETFs May Chase Investors Into ETNs http://www.opalesque.com/Commodities_Briefing/?p=140164 http://www.opalesque.com/Commodities_Briefing/?p=140164#comments Wed, 10 Feb 2016 01:09:39 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140164 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140164>Article Link</a> New proposals from the U.S. securities watchdog aimed at reducing risks in exchange-traded funds (ETFs) may end up being the best thing that ever happened to rival exchange-traded notes (ETNs). ETFs holding some $225 billion worth of assets are likely to violate the new rules suggested by the Securities and Exchange Commission (SEC), and could ironically spark a mass migration of investors into riskier products. (more…)

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Financial ETFs suffer worst outflows since 2010 http://www.opalesque.com/Commodities_Briefing/?p=140163 http://www.opalesque.com/Commodities_Briefing/?p=140163#comments Wed, 10 Feb 2016 01:09:26 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=140163 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=140163>Article Link</a> With financial stocks being beaten up around the globe, investors are fleeing financial exchange traded funds (ETFs) at the fastest rate since 2010. Global financial ETFs have suffered outflows of $3.17bn so far this quarter. That puts them on track for the worst quarterly outflow in six years since the second quarter of 2010, according to data from research group Markit. (more…)

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