Opalesque Commodities Briefing http://www.opalesque.com/Commodities_Briefing Fri, 26 Aug 2016 01:01:54 +0000 http://wordpress.org/?v=2.5.1 en Global Economy Unruffled by Brexit but Threats Loom http://www.opalesque.com/Commodities_Briefing/?p=143191 http://www.opalesque.com/Commodities_Briefing/?p=143191#comments Fri, 26 Aug 2016 01:01:54 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143191 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143191>Article Link</a> Safe havens such as gold and the yen have given up most of their post-Brexit gains, while equity markets have rallied - but are there other threats around the corner? Sentiment in financial markets has soured since April, especially after the Brexit referendum. Most analysts have revised down their growth expectations for 2016 and 2017 and cut their inflation forecasts. (more…)

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Look Past OPEC Freeze Hype to Really Understand Oil’s Advance http://www.opalesque.com/Commodities_Briefing/?p=143190 http://www.opalesque.com/Commodities_Briefing/?p=143190#comments Fri, 26 Aug 2016 01:01:38 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143190 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143190>Article Link</a> For all the feverish speculation of OPEC action that’s roiling oil markets, the real reason for crude’s recent recovery probably lies elsewhere. Oil futures have rallied more than 10 percent since the Organization of Petroleum Exporting Countries said it would hold informal talks in Algeria in late September, fueling expectations it could revive a pact on freezing production. (more…)

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China’s Decline in Oil Production Echoes Globally http://www.opalesque.com/Commodities_Briefing/?p=143189 http://www.opalesque.com/Commodities_Briefing/?p=143189#comments Fri, 26 Aug 2016 01:01:22 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143189 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143189>Article Link</a> China’s struggling oil sector has entered a challenging new phase: long-term decline of its domestic production. Oil production in China likely peaked last year at around 4.3 million barrels a day, according to new data and interviews with industry executives. (more…)

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Iran oil minister to attend Algeria Opec meeting http://www.opalesque.com/Commodities_Briefing/?p=143188 http://www.opalesque.com/Commodities_Briefing/?p=143188#comments Fri, 26 Aug 2016 01:01:08 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143188 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143188>Article Link</a> Iran’s oil minister Bijan Zanganeh will attend a meeting of Opec ministers in Algeria in September, the country’s state news agency Shana said on Thursday. The gathering towards the end of next month will be held on the sidelines of an International Energy Forum industry conference. (more…)

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Iran more willing for Opec action to boost oil price http://www.opalesque.com/Commodities_Briefing/?p=143187 http://www.opalesque.com/Commodities_Briefing/?p=143187#comments Fri, 26 Aug 2016 01:00:54 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143187 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143187>Article Link</a> Iran is sending positive signals that it may support joint action to prop up the oil market, sources in Opec and the oil industry said. Opec’s third-largest producer has been boosting output after the lifting of Western sanctions in January. (more…)

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Here’s why olive oil prices are likely to remain stubbornly high http://www.opalesque.com/Commodities_Briefing/?p=143186 http://www.opalesque.com/Commodities_Briefing/?p=143186#comments Fri, 26 Aug 2016 01:00:41 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143186 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143186>Article Link</a> Olive oil prices may have softened this year after a stellar 2015, but one analyst isn’t expecting a sudden plunge with a series of factors helping to prop up the market. Loraine Hudson, a market analyst at research firm Mintec, told CNBC Thursday that “tight stocks in the EU” will keep a floor under the commodity that’s widely used in cooking. (more…)

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Where To For Gold? Down - But Not Out - For Now http://www.opalesque.com/Commodities_Briefing/?p=143185 http://www.opalesque.com/Commodities_Briefing/?p=143185#comments Fri, 26 Aug 2016 01:00:29 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143185 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143185>Article Link</a> Gold has done very well this year. It was up almost 30% year-to-date in early July, which certainly beats most other investments nowadays! But since then it’s stagnated, and earlier this week took a sudden dive. Where will it go from here? (more…)

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Investors’ mad dash for gold http://www.opalesque.com/Commodities_Briefing/?p=143184 http://www.opalesque.com/Commodities_Briefing/?p=143184#comments Fri, 26 Aug 2016 01:00:18 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143184 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143184>Article Link</a> South Africa’s three biggest listed gold companies paid down debt and started to pump cash in the first half of the year, while gold prices and local currencies were favourable. With fatter purses, they may develop an appetite for acquisitions. (more…)

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Gold to hit $1,600, then $1,800: Scotia http://www.opalesque.com/Commodities_Briefing/?p=143183 http://www.opalesque.com/Commodities_Briefing/?p=143183#comments Fri, 26 Aug 2016 01:00:07 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143183 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143183>Article Link</a> Gold is having a comparatively torpid summer. The price has hovered around the $1,300 level since late June. This is quite a comedown from the best first-half performance since the 1980s. Still, gold is up about 30% for the year. And there’s no shortage of analysis suggesting that it has more to give. (more…)

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Gold Believers From Soros to UBS Lose Faith in Mining-Share Gain http://www.opalesque.com/Commodities_Briefing/?p=143182 http://www.opalesque.com/Commodities_Briefing/?p=143182#comments Fri, 26 Aug 2016 00:59:55 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143182 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143182>Article Link</a> The red-hot market for gold-mining companies has made the shares too expensive for some investors, even though they remain bullish on the outlook for bullion. Earlier this year, fund managers including George Soros had gobbled up shares of producers such as Barrick Gold Corp. and Newmont Mining Corp. in a bet that the surprise rally in the price of the metal would spark a surge in profit. (more…)

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Nickel hits six-week low as Philippines concerns ebb http://www.opalesque.com/Commodities_Briefing/?p=143181 http://www.opalesque.com/Commodities_Briefing/?p=143181#comments Fri, 26 Aug 2016 00:59:38 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143181 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143181>Article Link</a> Nickel slumped to the lowest in over six weeks on Thursday after worries eased that an environmental crackdown on mines in the Philippines would create shortages of metal. Nickel had surged 32 percent from the beginning of June until it hit a one-year peak in early August as authorities in the Philippines launched a campaign to close mining operations that failed to meet environmental regulations. (more…)

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Copper Prices Fall to a 2-Month Low, Demand Still Stagnant http://www.opalesque.com/Commodities_Briefing/?p=143180 http://www.opalesque.com/Commodities_Briefing/?p=143180#comments Fri, 26 Aug 2016 00:59:24 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143180 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143180>Article Link</a> Copper prices fell to their lowest level in two months on the London Metal Exchange Wednesday. Copper started the year bullish, but ever since prices have struggled near $5,000 per metric ton as investors seem unwilling to chase prices higher. (more…)

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Sold on Softs: These Commodities ETFs Could Move Higher http://www.opalesque.com/Commodities_Briefing/?p=143179 http://www.opalesque.com/Commodities_Briefing/?p=143179#comments Fri, 26 Aug 2016 00:59:10 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143179 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143179>Article Link</a> Energy commodities and precious metals garner most of the press within the broader commodities asset class, but investors can find some notable, tactical opportunities with agriculture commodities or “softs.” The PowerShares DB Agriculture Fund offers broad-based exposure to agriculture commodities, including cattle, coffee, corn, soybeans and wheat. (more…)

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Commodities Power This Emerging Markets ETF http://www.opalesque.com/Commodities_Briefing/?p=143178 http://www.opalesque.com/Commodities_Briefing/?p=143178#comments Fri, 26 Aug 2016 00:58:57 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143178 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143178>Article Link</a> In a year when many emerging equity markets are soaring, Latin America is a standout at the regional level and a big reason why is rebounding commodities prices. (more…)

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Hedge Funds Are Shrinking, Not Dying http://www.opalesque.com/Commodities_Briefing/?p=143177 http://www.opalesque.com/Commodities_Briefing/?p=143177#comments Fri, 26 Aug 2016 00:58:47 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143177 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143177>Article Link</a> Ouch! Actually, that didn’t hurt so much. News that hedge funds suffered redemptions of $25.2 billion last month may translate into some individual shops closing, but for the industry as a whole, it’s a drop in the ocean. (more…)

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A weak yuan is a bigger threat to the global economy than Brexit http://www.opalesque.com/Commodities_Briefing/?p=143175 http://www.opalesque.com/Commodities_Briefing/?p=143175#comments Fri, 26 Aug 2016 00:58:31 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143175 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143175>Article Link</a> Investors are ignoring a steadily weakening Chinese yuan. But they might be making a dangerous mistake, according to a top strategist at State Street Global Advisors. The managers of the world’s second-largest economy have taken advantage of the frenzied media coverage of Brexit, and other news events like the Rio Olympics and the U.S. election to slowly guide their currency, the yuan, lower against both the dollar and a trade-weighted basket of currencies without triggering a global financial panic. (more…)

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A weak yuan is a bigger threat to the global economy than Brexit http://www.opalesque.com/Commodities_Briefing/?p=143176 http://www.opalesque.com/Commodities_Briefing/?p=143176#comments Fri, 26 Aug 2016 00:58:31 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143176 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143176>Article Link</a> Investors are ignoring a steadily weakening Chinese yuan. But they might be making a dangerous mistake, according to a top strategist at State Street Global Advisors. The managers of the world’s second-largest economy have taken advantage of the frenzied media coverage of Brexit, and other news events like the Rio Olympics and the U.S. election to slowly guide their currency, the yuan, lower against both the dollar and a trade-weighted basket of currencies without triggering a global financial panic. (more…)

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Trump Vows to Label China a Currency Manipulator http://www.opalesque.com/Commodities_Briefing/?p=143174 http://www.opalesque.com/Commodities_Briefing/?p=143174#comments Fri, 26 Aug 2016 00:58:18 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143174 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143174>Article Link</a> In a speech in Tampa, Fla., Wednesday afternoon, Republican Presidential NomineeDonald Trump outlined a seven-point plan to bring millions of jobs to the U.S. that involved labeling China a currency manipulator. (more…)

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Government urged to tear up surplus carbon credits, not use them to meet target http://www.opalesque.com/Commodities_Briefing/?p=143173 http://www.opalesque.com/Commodities_Briefing/?p=143173#comments Fri, 26 Aug 2016 00:58:05 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143173 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143173>Article Link</a> The Government has been urged to “tear up” its surplus carbon credits instead of using them to meet climate targets. The nearly 86 million surplus credits were described as “laundered” by the Parliamentary Commissioner for the Environment in a recent report. (more…)

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Could the G-20 Become Coherent on Climate? http://www.opalesque.com/Commodities_Briefing/?p=143172 http://www.opalesque.com/Commodities_Briefing/?p=143172#comments Fri, 26 Aug 2016 00:57:54 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143172 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143172>Article Link</a> The G-20—a forum of 20 of the world’s largest economies—has a record of ambivalence on the topic of climate change. One case in point is the disconnect between the group’s efforts to address climate risks and its efforts to reduce the shortfall in global infrastructure investment. (more…)

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World economy still sputtering, trade figures show http://www.opalesque.com/Commodities_Briefing/?p=143171 http://www.opalesque.com/Commodities_Briefing/?p=143171#comments Thu, 25 Aug 2016 00:52:03 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143171 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143171>Article Link</a> The amount of goods traded globally fell sharply in the second quarter after a flat performance in the first few months of 2016, highlighting a major challenge for leaders around the world grappling with soft growth. (more…)

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Commodities Rout Is Far From Finished As Glencore’s Profits Sink 66% http://www.opalesque.com/Commodities_Briefing/?p=143170 http://www.opalesque.com/Commodities_Briefing/?p=143170#comments Thu, 25 Aug 2016 00:51:46 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143170 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143170>Article Link</a> Commodities colossus Glencore dipped to one-month lows in Wednesday business after latest half-year numbers highlighted the ongoing malaise whacking raw materials markets. Glencore was last dealing 5% lower after announcing that net income slumped by two-thirds between January and June, to $300m, a result that narrowly missed broker estimates. (more…)

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Don’t set too high a hope of $60 for oil http://www.opalesque.com/Commodities_Briefing/?p=143169 http://www.opalesque.com/Commodities_Briefing/?p=143169#comments Thu, 25 Aug 2016 00:51:21 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143169 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143169>Article Link</a> The pendulum in the oil market has clearly swung in favour of the producers. Opec members have never pumped so much crude — ditto for Russia — but prices zoomed to a two-month high crossing $50 again. (more…)

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Russia Sees Oil At US$50 Till Late 2017 http://www.opalesque.com/Commodities_Briefing/?p=143168 http://www.opalesque.com/Commodities_Briefing/?p=143168#comments Thu, 25 Aug 2016 00:50:59 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143168 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143168>Article Link</a> The Russian Economy Ministry said in a statement it expected crude oil prices to remain stable at their current range of US$45-50 over the next two years, with a sustainable improvement beginning in late 2017. (more…)

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Who Is More Credible – The Fed or OPEC? http://www.opalesque.com/Commodities_Briefing/?p=143167 http://www.opalesque.com/Commodities_Briefing/?p=143167#comments Thu, 25 Aug 2016 00:50:43 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143167 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143167>Article Link</a> Almost on cue oil prices quickly reversed course and traded higher on Tuesday when news broke that “Iran is sending positive signals that it may support group action to lift the oil market,” according to MarketWatch. (more…)

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Oil could take another dive, just in time for new round of OPEC rumors http://www.opalesque.com/Commodities_Briefing/?p=143166 http://www.opalesque.com/Commodities_Briefing/?p=143166#comments Thu, 25 Aug 2016 00:50:29 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143166 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143166>Article Link</a> The next trough in oil prices could come just as OPEC members gather in Algeria next month — and that could make for an interesting, and more unpredictable outcome. While most analysts say OPEC members are all talk, and no action, some say there is an outside chance members could feel pressured enough to act if crude prices are in free fall. (more…)

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Saudi Arabia Holds China Market Share Lead on Record Oil Output http://www.opalesque.com/Commodities_Briefing/?p=143165 http://www.opalesque.com/Commodities_Briefing/?p=143165#comments Thu, 25 Aug 2016 00:50:10 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143165 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143165>Article Link</a> Saudi Arabia kept its spot as China’s biggest oil supplier for the first seven months this year after pumping record output in July, even as Russia threatens to overtake the kingdom in their contest for sales to the world’s largest energy consumer. (more…)

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Iraq has not yet reached its full oil market share: PM Abadi http://www.opalesque.com/Commodities_Briefing/?p=143164 http://www.opalesque.com/Commodities_Briefing/?p=143164#comments Thu, 25 Aug 2016 00:49:25 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143164 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143164>Article Link</a> Iraqi Prime Minister Haider al-Abadi on Tuesday said Iraq had not yet reached its full oil market share, suggesting that the country would prefer not to restrain its crude output as part of any possible OPEC agreement to lift prices. (more…)

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Why gold prices soared over 20% in 2016 so far http://www.opalesque.com/Commodities_Briefing/?p=143163 http://www.opalesque.com/Commodities_Briefing/?p=143163#comments Thu, 25 Aug 2016 00:49:08 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143163 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143163>Article Link</a> Gold has witnessed a spectacular first half this year with a mammoth gain of almost 25 per cent. Global economic concerns, political and economic uncertainty caused by Brexit and loose monetary policy stance of major central banks are some of the factors which have helped pushed gold price to the highest level since 2014. (more…)

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Gold price drop triggers mining stocks bloodbath http://www.opalesque.com/Commodities_Briefing/?p=143162 http://www.opalesque.com/Commodities_Briefing/?p=143162#comments Thu, 25 Aug 2016 00:48:56 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143162 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143162>Article Link</a> Gold struggled on Wednesday losing more than 1% to exchange hands for $1,327 in late afternoon trade in New York. Gold is coming off two-year highs hit early this month and year to date the metal is still up more than 25% or nearly $270 an ounce. (more…)

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UBS: ‘Any Downside Should Ultimately Be Limited’ In Gold http://www.opalesque.com/Commodities_Briefing/?p=143161 http://www.opalesque.com/Commodities_Briefing/?p=143161#comments Thu, 25 Aug 2016 00:48:42 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143161 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143161>Article Link</a> UBS looks for any potential damage from Federal Reserve hawkishness to be limited. “The focus this week will be Fed Chair Yellen’s speech at Jackson Hole, where investors will look for guidance on Fed policy,” UBS says in an early-week research note. (more…)

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Gold Pressured By Bearish Outside Markets http://www.opalesque.com/Commodities_Briefing/?p=143160 http://www.opalesque.com/Commodities_Briefing/?p=143160#comments Thu, 25 Aug 2016 00:48:20 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143160 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143160>Article Link</a> Gold and silver prices are modestly lower in subdued early U.S. trading Wednesday. The outside markets are in a bearish posture for the precious metals on this day, as crude oil prices are lower and the U.S. dollar index is higher. (more…)

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The biggest buyers of gold aren’t buying like they used to http://www.opalesque.com/Commodities_Briefing/?p=143159 http://www.opalesque.com/Commodities_Briefing/?p=143159#comments Thu, 25 Aug 2016 00:48:01 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143159 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143159>Article Link</a> The world’s central banks are still net buyers of gold, but they may be slowing down those purchases. Central banks bought an estimated 166 tonnes of gold and sold 22 tonnes in the first half of 2016, making a net purchase of 144 tonnes, according to Macquarie analysts. (more…)

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Should you buy gold or gold miners? http://www.opalesque.com/Commodities_Briefing/?p=143158 http://www.opalesque.com/Commodities_Briefing/?p=143158#comments Thu, 25 Aug 2016 00:47:38 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143158 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143158>Article Link</a> Gold has been all the rage in 2016. Amid rising inflation and growing global economic uncertainty, the price of the precious metal has risen over 25% since the start of the year. This rally would suggest that gold’s multi-year bear market has finally come to an end, and according to many analysts, the price of gold has yet to peak. (more…)

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Is The Silver Price Destined To Sit Around $19? http://www.opalesque.com/Commodities_Briefing/?p=143157 http://www.opalesque.com/Commodities_Briefing/?p=143157#comments Thu, 25 Aug 2016 00:47:19 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143157 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143157>Article Link</a> The first half of the year was an incredible time for silver as the precious metal saw massive gains. However, more recently, we’ve seen declines. Now, the price of the precious metal seems to be sticking around the $19 per ounce mark. (more…)

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All hail iron ore, the top performing commodity so far in 2016 http://www.opalesque.com/Commodities_Briefing/?p=143156 http://www.opalesque.com/Commodities_Briefing/?p=143156#comments Thu, 25 Aug 2016 00:46:59 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143156 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143156>Article Link</a> Iron ore is the top performing commodity so far in 2016. Yes, that’s not a misprint. It’s a statistic few would have thought possible, let alone plausible, given the raft of negative headwinds that saw prices plunge by close to 80% from the highs seen in 2011. (more…)

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Here’s why copper is sitting out a big rally by industrial metals http://www.opalesque.com/Commodities_Briefing/?p=143155 http://www.opalesque.com/Commodities_Briefing/?p=143155#comments Thu, 25 Aug 2016 00:46:39 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143155 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143155>Article Link</a> The performance of industrial metals, particularly copper, is often touted as a guide to the outlook for the global economy, but nowadays, that view is a bit clouded. (more…)

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Precious metal funds dominate after gold price surge http://www.opalesque.com/Commodities_Briefing/?p=143154 http://www.opalesque.com/Commodities_Briefing/?p=143154#comments Thu, 25 Aug 2016 00:46:20 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143154 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143154>Article Link</a> A gold price surge has pushed precious metal funds to the top of this year’s performance charts, reports the Financial Times. Having fallen by 40 per cent from a 2011 peak of $1,920 an ounce in the closing months of 2015, gold has risen by 25 per cent so far this year to above $1,330 an ounce, defying predictions it would tumble to below $1,000. (more…)

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Hi Ho Silver: Investors Love These ETFs http://www.opalesque.com/Commodities_Briefing/?p=143153 http://www.opalesque.com/Commodities_Briefing/?p=143153#comments Thu, 25 Aug 2016 00:45:49 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143153 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143153>Article Link</a> Though they have recently retreated a bit, the iShares Silver Trust and ETFS Physical Silver Shares remain two of this year’s best-performing commodities exchange traded products and investors seem to be acknowledging as much. (more…)

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The Best (And Worst) Part of Trading Gold ETFs http://www.opalesque.com/Commodities_Briefing/?p=143152 http://www.opalesque.com/Commodities_Briefing/?p=143152#comments Thu, 25 Aug 2016 00:45:38 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143152 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143152>Article Link</a> Investors love the premise, but it may be more volatility than most of them can handle. Talk about extremes! The Direxion Daily Jr. Gold Miners Bull 3X ETF and Direxion Daily Gold Miners Bull 3X ETF are down 15% and 14% today, respectively, while the Direxion Daily Gold Miners Bear 3X ETF is up a whopping 14%. (more…)

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Investing In Agriculture: Hard Profits From Soft Commodities http://www.opalesque.com/Commodities_Briefing/?p=143151 http://www.opalesque.com/Commodities_Briefing/?p=143151#comments Thu, 25 Aug 2016 00:45:25 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143151 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143151>Article Link</a> Agricultural commodities have more diverse price behavior than metals or energy. One sub-sector is a must avoid because trading has broken down. One agricultural commodity has outperformed gold so far in 2016. Of the three major areas of commodities, two of them - energy and metals - get disproportionate attention from the financial media. (more…)

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Solving the yen puzzle http://www.opalesque.com/Commodities_Briefing/?p=143150 http://www.opalesque.com/Commodities_Briefing/?p=143150#comments Thu, 25 Aug 2016 00:44:50 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143150 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143150>Article Link</a> The Japanese yen has been a star performer in 2016, and after a 20 percent move in less than eight months, everyone is wondering where this currency goes next. It’s a question being asked far beyond foreign exchange desks. (more…)

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How wise are currency pegs? http://www.opalesque.com/Commodities_Briefing/?p=143149 http://www.opalesque.com/Commodities_Briefing/?p=143149#comments Thu, 25 Aug 2016 00:44:34 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143149 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143149>Article Link</a> Some currencies linked to the dollar came under attack in early 2016 from traders speculating that it’s becoming too expensive to continue defending them. Currency markets have been roiled since China cut the value of the yuan for the first time in two decades; the country burned through more than $500 billion of its reserves in 2015. (more…)

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U.S. and China Prepare for Climate Negotiation http://www.opalesque.com/Commodities_Briefing/?p=143148 http://www.opalesque.com/Commodities_Briefing/?p=143148#comments Thu, 25 Aug 2016 00:44:23 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143148 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143148>Article Link</a> White House senior adviser Brian Deese is in Beijing this week laying the groundwork for President Obama’s visit to China next month. Deese’s agenda includes meetings with Executive Vice Premier Zhang Gaoli and Xie Zhenhua, special representative for climate change, according to the White House. (more…)

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Corruption costs global economy $2.6tn yearly – Kerry http://www.opalesque.com/Commodities_Briefing/?p=143147 http://www.opalesque.com/Commodities_Briefing/?p=143147#comments Thu, 25 Aug 2016 00:44:08 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143147 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143147>Article Link</a> US Secretary of State, John Kerry, has said corruption is the root of many development challenges, adding that it costs the global economy an estimated $2.6trn yearly. He stressed that Nigeria needed to tackle bribery, fraud, and other forms of corruption which he said were “dangerous” and undermined efforts to ensure a peaceful world. (more…)

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Commodities down in July http://www.opalesque.com/Commodities_Briefing/?p=143146 http://www.opalesque.com/Commodities_Briefing/?p=143146#comments Wed, 24 Aug 2016 01:40:29 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143146 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143146>Article Link</a> Scotiabank’s Commodity Price Index posted its first monthly loss in July since February. The index was down 1% from June as metals strength (+4.6% month over month) was overwhelmed by weakness in the Oil & Gas (-4.7%) and Agriculture (-5.2%) segments. (more…)

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Oil prices will stall below $50 a barrel for another year, says Goldman Sachs http://www.opalesque.com/Commodities_Briefing/?p=143145 http://www.opalesque.com/Commodities_Briefing/?p=143145#comments Wed, 24 Aug 2016 01:40:17 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143145 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143145>Article Link</a> Oil prices continued to fall on Tuesday and may struggle to climb back over $50 a barrel for another year, Goldman Sachs has warned. The price of Brent crude has tumbled more than 3pc so far this week to $48.58, reversing a rapid $10 ascent from around $41.60 a barrel in early August to highs of almost $52 a barrel last week. (more…)

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Iraq may base 2017 draft budget on $35/barrel oil price http://www.opalesque.com/Commodities_Briefing/?p=143144 http://www.opalesque.com/Commodities_Briefing/?p=143144#comments Wed, 24 Aug 2016 01:40:04 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143144 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143144>Article Link</a> Iraq may base its public budget for 2017 on an oil price of $35 per barrel, about the same level as this year, Prime Minister Haider al-Abadi told a news conference on Tuesday in Baghdad. Iraq, which depends on oil sales for 95 percent of its public spending, lowered this year its crude price assumption to about $32 a barrel from an initial forecast of $45 a barrel. (more…)

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Not even OPEC can save the struggling oil market now, Goldman Sachs warns http://www.opalesque.com/Commodities_Briefing/?p=143143 http://www.opalesque.com/Commodities_Briefing/?p=143143#comments Wed, 24 Aug 2016 01:39:51 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143143 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143143>Article Link</a> OPEC production freeze or not, the oil market is not going to recover anytime soon, as troubled oil-producing nations prepare to ramp up production and pave the way for hundred of thousands of barrels to be released into an already oversupplied market, Goldman Sachs warned. (more…)

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Iran signals more willingness for OPEC action to boost oil price http://www.opalesque.com/Commodities_Briefing/?p=143142 http://www.opalesque.com/Commodities_Briefing/?p=143142#comments Wed, 24 Aug 2016 01:39:36 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143142 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143142>Article Link</a> Iran is sending positive signals that it may support joint action to prop up the oil market, sources in OPEC and the oil industry said, potentially aiding efforts to revive a global deal on freezing production levels at talks next month. (more…)

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Oil sector shares jump on Iran-Opec hopes http://www.opalesque.com/Commodities_Briefing/?p=143141 http://www.opalesque.com/Commodities_Briefing/?p=143141#comments Wed, 24 Aug 2016 01:39:21 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143141 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143141>Article Link</a> Oil companies broadly advanced on Tuesday as crude rebounded, buoyed by speculation that Iran will attend a meeting of Opec producing countries next month. Members of the oil producing cartel are expected to meet to discuss actions to support the crude market, which despite Brent rallying 34 per cent this year remains 57 per cent below a 2014 peak. (more…)

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Saudi Arabia isn’t flooding oil market ahead of freeze talks: Kemp http://www.opalesque.com/Commodities_Briefing/?p=143140 http://www.opalesque.com/Commodities_Briefing/?p=143140#comments Wed, 24 Aug 2016 01:39:05 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143140 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143140>Article Link</a> Saudi Arabia’s oil production hit a record in July, according to published statistics, and is likely to hit another in August, according to industry sources. Some analysts have interpreted the increases as an aggressive demonstration of the kingdom’s ability to ramp up output ahead of an informal meeting of oil ministers in Algeria next month. (more…)

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Iraq has not yet reached its full oil market share, says PM http://www.opalesque.com/Commodities_Briefing/?p=143139 http://www.opalesque.com/Commodities_Briefing/?p=143139#comments Wed, 24 Aug 2016 01:38:50 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143139 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143139>Article Link</a> Iraq’s prime minister said the country has not yet reached its full oil market share, suggesting his government would not restrain crude output as part of any possible OPEC agreement to lift prices. (more…)

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Gold price rally still to peak, as global economic worries continue http://www.opalesque.com/Commodities_Briefing/?p=143138 http://www.opalesque.com/Commodities_Briefing/?p=143138#comments Wed, 24 Aug 2016 01:38:36 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143138 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143138>Article Link</a> Demand rises 15pc in second quarter, after price soars 26pc from a six-year low of US$1,060.2 per ounce at the start of the year. The current rise in the price of gold is yet to peak, according to analysts, after jumping 26 per cent in the first half. (more…)

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Gold heads for first monthly drop since May http://www.opalesque.com/Commodities_Briefing/?p=143137 http://www.opalesque.com/Commodities_Briefing/?p=143137#comments Wed, 24 Aug 2016 01:38:24 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143137 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143137>Article Link</a> Concerns grow over potential Fed rate rise. Gold is heading for its first monthly drop since May, as angst grows that a second rate rise since last December from the US Federal Reserve will end a stellar rally that has sucked almost $13bn into the largest exchange traded fund backed by the yellow metal this year. (more…)

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How Venezuela is impacting the gold market http://www.opalesque.com/Commodities_Briefing/?p=143136 http://www.opalesque.com/Commodities_Briefing/?p=143136#comments Wed, 24 Aug 2016 01:38:09 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143136 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143136>Article Link</a> Global central banks continued to be buyers of gold in the first half of 2016, and while the pace of purchases is expected to slow, demand is likely to hold steady. “There is still no appetite for sales, but outside of Russia and China, few purchases either,” analysts at Macquarie Capital Markets said on Tuesday. (more…)

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BMO: ‘We Would Still Be Buyers’ On A Dip In Silver Prices http://www.opalesque.com/Commodities_Briefing/?p=143135 http://www.opalesque.com/Commodities_Briefing/?p=143135#comments Wed, 24 Aug 2016 01:37:54 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143135 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143135>Article Link</a> Analysts at BMO Capital Markets say they would favor buying silver on price dips. Their base-case outlook is for silver prices to remain range-bound, although with a greater downside risk than upside risk in the near term. (more…)

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Forget gold, these three metals are soaring ahead http://www.opalesque.com/Commodities_Briefing/?p=143134 http://www.opalesque.com/Commodities_Briefing/?p=143134#comments Wed, 24 Aug 2016 01:37:40 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143134 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143134>Article Link</a> Silver has been the best-performing raw material in 2016 so far; its dollar-denominated price grew by 42.6 per cent year-on-year, followed by zinc, up 40.7 per cent, and platinum with a price increase of 32 per cent. (more…)

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This ‘Hot Commodity’ Is Destined to Cool Off Soon: Citigroup http://www.opalesque.com/Commodities_Briefing/?p=143133 http://www.opalesque.com/Commodities_Briefing/?p=143133#comments Wed, 24 Aug 2016 01:37:28 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143133 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143133>Article Link</a> Iron ore, dubbed by Citigroup Inc. as one of the hot commodities of 2016, looks set to cool off. Prices may soon sag as supply rises and steel demand fades, the bank said, adding to a chorus of forecasters who are calling time on an unexpected rally. (more…)

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Best ETFs For Investors 2017 http://www.opalesque.com/Commodities_Briefing/?p=143132 http://www.opalesque.com/Commodities_Briefing/?p=143132#comments Wed, 24 Aug 2016 01:37:15 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=143132 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=143132>Article Link</a> In 13 categories of investment, from big U.S. stocks to international bonds, this annual survey ranks the best buys in exchange-traded funds. The determining factor: cost of ownership. (more…)

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