Opalesque Commodities Briefing http://www.opalesque.com/Commodities_Briefing Fri, 21 Nov 2014 00:39:20 +0000 http://wordpress.org/?v=2.5.1 en US Senators question banks over commodities trading http://www.opalesque.com/Commodities_Briefing/?p=133849 http://www.opalesque.com/Commodities_Briefing/?p=133849#comments Fri, 21 Nov 2014 00:39:20 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133849 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133849>Article Link</a> Executives of three US banks are being grilled by senators over accusations the banks engaged in unfair trading practices relating to several commodities. A two-year report found that Goldman Sachs, Morgan Stanley and JP Morgan Chase bought up large stockpiles of commodities like aluminium and copper. (more…)

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China ‘triple bubble’ points to long slide for commodities http://www.opalesque.com/Commodities_Briefing/?p=133848 http://www.opalesque.com/Commodities_Briefing/?p=133848#comments Fri, 21 Nov 2014 00:38:58 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133848 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133848>Article Link</a> The “commodity super cycle” is dead. Now, it’s time to get used to the “commodity super down cycle, and China is the biggest reason why, warn strategists at Credit Suisse in a Thursday note. (more…)

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Did Goldman Sachs rig commodities markets? http://www.opalesque.com/Commodities_Briefing/?p=133847 http://www.opalesque.com/Commodities_Briefing/?p=133847#comments Fri, 21 Nov 2014 00:38:34 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133847 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133847>Article Link</a> Goldman Sachs has been trying to distance itself from the “vampire squid” image it developed during the financial crisis. The findings of a Senate investigation into commodities market rigging probably won’t help. (more…)

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Global economy will benefit from oil price decline http://www.opalesque.com/Commodities_Briefing/?p=133846 http://www.opalesque.com/Commodities_Briefing/?p=133846#comments Fri, 21 Nov 2014 00:37:59 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133846 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133846>Article Link</a> If OPEC fails to take a unified approach on stabilizing oil prices the global economy will be the biggest winner because oil prices will continue to fall, Fred Beach, of the University of Texas at Austin, said. (more…)

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Venezuela, Ignored By OPEC, Seeks Oil-price Relief Elsewhere http://www.opalesque.com/Commodities_Briefing/?p=133845 http://www.opalesque.com/Commodities_Briefing/?p=133845#comments Fri, 21 Nov 2014 00:37:43 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133845 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133845>Article Link</a> Venezuela, openly frustrated by Saudi Arabia’s refusal to support a cut in crude production, is reaching out beyond OPEC to discuss ways to stop the recent decline in oil prices. (more…)

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Oil price firms as optimism surrounding OPEC meet grows http://www.opalesque.com/Commodities_Briefing/?p=133844 http://www.opalesque.com/Commodities_Briefing/?p=133844#comments Fri, 21 Nov 2014 00:37:22 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133844 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133844>Article Link</a> Growing optimism that OPEC will constrain oil supply to prop up prices prompted the price of crude to nudge up higher. OPEC is the cartel of oil exporting nations and is meeting next Thursday (Nov 27). (more…)

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Oil Prices Rise on Changing OPEC Expectations http://www.opalesque.com/Commodities_Briefing/?p=133843 http://www.opalesque.com/Commodities_Briefing/?p=133843#comments Fri, 21 Nov 2014 00:37:07 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133843 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133843>Article Link</a> Oil prices gained Thursday, snapping a three-day losing streak, on expectations that the Organization of the Petroleum Exporting Countries would take action at its meeting next week to stop prices from falling. (more…)

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Iran to Hold Market Share Talks With Saudis at OPEC http://www.opalesque.com/Commodities_Briefing/?p=133842 http://www.opalesque.com/Commodities_Briefing/?p=133842#comments Fri, 21 Nov 2014 00:36:50 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133842 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133842>Article Link</a> Iran’s oil minister said he will talk with top oil exporter Saudi Arabia about market share when OPEC meets next week in Vienna, as Tehran plans for the possible end of sanctions and unfettered crude exports. Zanganeh said Iran’s oil exports would increase by two fold within two months of lifting the sanctions, although analysts say it may take longer. Iran exports around 1.3 barrels of oil per day. (more…)

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Oil markets wonder: Whither OPEC? http://www.opalesque.com/Commodities_Briefing/?p=133841 http://www.opalesque.com/Commodities_Briefing/?p=133841#comments Fri, 21 Nov 2014 00:36:29 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133841 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133841>Article Link</a> There is a high degree of uncertainty over how November’s OPEC meeting and Iranian nuclear negotiations will unfold. Either way, the end of November will have a huge impact on oil prices. As November draws to a close, there are two major events that could profoundly change the oil markets. (more…)

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Buy gold on dips to $1,175-78/oz http://www.opalesque.com/Commodities_Briefing/?p=133840 http://www.opalesque.com/Commodities_Briefing/?p=133840#comments Fri, 21 Nov 2014 00:36:08 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133840 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133840>Article Link</a> Comex gold futures were higher on Thursday but limited by dollar strength after Federal Reserve minutes suggested the United States is still likely to raise interest rates next year. Gold also fell sharply on Wednesday after a poll showed weaker support among Swiss voters for a referendum proposal that would force the central bank to boost its gold reserves. Selling by gold funds resumed after a brief pause this week. (more…)

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Gold rises as price drop tempts physical buyers http://www.opalesque.com/Commodities_Briefing/?p=133839 http://www.opalesque.com/Commodities_Briefing/?p=133839#comments Fri, 21 Nov 2014 00:35:54 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133839 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133839>Article Link</a> Gold rose on Thursday on data showing rising U.S. inflation, and after the previous day’s 1-percent drop triggered renewed physical interest by price-sensitive Asian buyers. Bullion investors focused on U.S. Labor Department data which showed underlying inflation pressures rose in October, even though that also bolstered expectations of a mid-2015 interest rate hike from the Federal Reserve. (more…)

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Gold price stuck under $1,200/oz as FOMC fail to surprise http://www.opalesque.com/Commodities_Briefing/?p=133838 http://www.opalesque.com/Commodities_Briefing/?p=133838#comments Fri, 21 Nov 2014 00:35:38 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133838 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133838>Article Link</a> The gold price was stuck under $1,200 per ounce during Thursday morning sessions, as the FOMC minutes released yesterday failed to surprise or ignite the market. The spot gold price was last at $1,185.20/1,186 per ounce, up $3.40 on the previous day’s close. (more…)

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Gold extends losses as Swiss vote concerns weigh http://www.opalesque.com/Commodities_Briefing/?p=133837 http://www.opalesque.com/Commodities_Briefing/?p=133837#comments Fri, 21 Nov 2014 00:35:13 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133837 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133837>Article Link</a> Gold prices extended losses for a second session Thursday, continuing to feel pressure from news that a proposal which could require the Swiss central bank to ramp up its holdings in bullion is losing support. (more…)

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US report details metal warehouse issues http://www.opalesque.com/Commodities_Briefing/?p=133836 http://www.opalesque.com/Commodities_Briefing/?p=133836#comments Fri, 21 Nov 2014 00:34:55 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133836 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133836>Article Link</a> The two-year US Senate investigation into banks’ commodities business has thrown a sharp light on the relationship between metals warehouses and their owners. (more…)

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The iron ore price slump won’t stop BHP and Rio http://www.opalesque.com/Commodities_Briefing/?p=133835 http://www.opalesque.com/Commodities_Briefing/?p=133835#comments Fri, 21 Nov 2014 00:34:31 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133835 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133835>Article Link</a> With the iron ore price touching $US70 a tonne overnight, the price is closing in on the point where only Rio Tinto and BHP Billiton will have profitable iron ore businesses. Despite the continuing collapse in the price, however, both remain committed to driving increased production volumes. (more…)

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Is the aluminium production cycle starting to turn?: Andy Home http://www.opalesque.com/Commodities_Briefing/?p=133834 http://www.opalesque.com/Commodities_Briefing/?p=133834#comments Fri, 21 Nov 2014 00:34:12 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133834 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133834>Article Link</a> Daily average aluminium production in the world outside China slid to 66,200 tonnes in October, according to the International Aluminium Institute (IAI). It was the lowest collective run-rate since January with continued strong growth in the Gulf region, up 23 percent so far this year, offset by curtailments and closures elsewhere. (more…)

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Goldman Spars With Senators Over Its Aluminum Business http://www.opalesque.com/Commodities_Briefing/?p=133833 http://www.opalesque.com/Commodities_Briefing/?p=133833#comments Fri, 21 Nov 2014 00:33:45 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133833 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133833>Article Link</a> Goldman Sachs Group Inc. (GS) executives sparred with lawmakers over accusations that its aluminum business improperly influenced prices and that the firm’s traders had unfair access to market-moving data. Under fire at a hearing today on whether Wall Street’s ownership of commodities spurs conflicts, Goldman Sachs’s Jacques Gabillon disputed senators’ charges that long wait times for aluminum stockpiles had a direct effect on what companies and consumers pay for the metal. (more…)

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ETFs minted to court the bullish US dollar http://www.opalesque.com/Commodities_Briefing/?p=133832 http://www.opalesque.com/Commodities_Briefing/?p=133832#comments Fri, 21 Nov 2014 00:33:20 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133832 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133832>Article Link</a> It’s good to be the king these days—King U.S. dollar, specifically. The dollar began a steep rise during the summer, and since then it has been gaining against several major currencies, especially the beleaguered euro. (more…)

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3 ETFs Crushed in Commodity Market Rout http://www.opalesque.com/Commodities_Briefing/?p=133831 http://www.opalesque.com/Commodities_Briefing/?p=133831#comments Fri, 21 Nov 2014 00:33:04 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133831 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133831>Article Link</a> After performing remarkably well in the initial months of the year, the broad commodity market started to falter in the later part. This is primarily due to a slowdown in the world’s largest consumer of raw materials –China, soft economic data from key developing economies, stalling recovery in Europe despite the stimulus package, improving U.S. economy, robust grain harvest for most agricultural commodities and demand/supply imbalances for most industrial metals. (more…)

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Corn ETF: Is a turnaround coming soon? http://www.opalesque.com/Commodities_Briefing/?p=133830 http://www.opalesque.com/Commodities_Briefing/?p=133830#comments Fri, 21 Nov 2014 00:32:48 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133830 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133830>Article Link</a> After a rough patch in the last six months thanks to a stronger dollar and accelerated crop plantation on a favorable weather outlook, corn ETFs seem to now heave a sigh of relief. This is important since corn is one of the most important U.S. crops, and is the most important agricultural product in many states. And overall, the nation enjoys the status of the world’s largest exporter of the staple. U.S. farmers are experiencing an unparalleled corn inventory this year thanks to ideal weather conditions for corn harvests. (more…)

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3 reasons why the sliding yen may not spark a currency war http://www.opalesque.com/Commodities_Briefing/?p=133829 http://www.opalesque.com/Commodities_Briefing/?p=133829#comments Fri, 21 Nov 2014 00:32:35 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133829 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133829>Article Link</a> The Japanese currency is sinking. On Thursday, the yen fell to a fresh seven-year low of 118.98 against the US dollar, two days after Prime Minister Shinzo Abe called a snap election and announced his decision to delay a sales-tax increase because Japan had fallen back into recession. (more…)

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Yen Slides to Seven-Year Low on Election Outlook http://www.opalesque.com/Commodities_Briefing/?p=133828 http://www.opalesque.com/Commodities_Briefing/?p=133828#comments Fri, 21 Nov 2014 00:32:21 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133828 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133828>Article Link</a> Foreign-exchange volatility reached its highest in more than nine months as forecasts for economic growth and less-stimulative monetary policy in the U.S. diverge from overseas prospects. (more…)

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Emission goals in China on target for 2020 http://www.opalesque.com/Commodities_Briefing/?p=133827 http://www.opalesque.com/Commodities_Briefing/?p=133827#comments Fri, 21 Nov 2014 00:32:06 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133827 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133827>Article Link</a> China is among a select group of nations on track to meet their emission-reduction goals by the end of the decade, according to new data from the United Nations Environment Programme (UNEP). Brazil, the European Union, India and Russia join China as the global players expected to meet projections ahead of 2020, while other leading countries need to implement added measures to curb their emissions projections, the report said. (more…)

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What are the consequences of commodities price slump? http://www.opalesque.com/Commodities_Briefing/?p=133826 http://www.opalesque.com/Commodities_Briefing/?p=133826#comments Thu, 20 Nov 2014 02:20:40 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133826 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133826>Article Link</a> When prices of commodity rise they transfer riches from consumers to producers but when they fall consumers benefit. With so much at stake, the turning points are important. Currently we are standing at the cusp of such a turning point. (more…)

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Senate probe says Goldman, other banks exploited commodity markets http://www.opalesque.com/Commodities_Briefing/?p=133825 http://www.opalesque.com/Commodities_Briefing/?p=133825#comments Thu, 20 Nov 2014 02:20:24 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133825 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133825>Article Link</a> A two-year Senate investigation into Wall Street’s physical commodities business found that U.S. banks had manipulated prices and gained unfair trading advantages at the expense of consumers. (more…)

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U.S. Fed began rejecting commodity trade requests in 2010: report http://www.opalesque.com/Commodities_Briefing/?p=133824 http://www.opalesque.com/Commodities_Briefing/?p=133824#comments Thu, 20 Nov 2014 02:20:05 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133824 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133824>Article Link</a> The U.S. Federal Reserve has been quietly quashing some Wall Street requests to delve more deeply into physical commodity markets since 2010, according to a new Senate report that includes previously unreported details of the Fed’s oversight of the area. (more…)

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Wall Street firms accused of driving up commodity prices http://www.opalesque.com/Commodities_Briefing/?p=133823 http://www.opalesque.com/Commodities_Briefing/?p=133823#comments Thu, 20 Nov 2014 02:19:38 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133823 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133823>Article Link</a> Machinations by financial firms that have bought up huge swaths of coal mines, aluminum warehouses, or natural gas reserves could be leading to higher prices for consumers and companies that rely on those natural products, a new Senate report alleges. (more…)

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Oil and gold price plunge does not signal a global recession, experts say http://www.opalesque.com/Commodities_Briefing/?p=133822 http://www.opalesque.com/Commodities_Briefing/?p=133822#comments Thu, 20 Nov 2014 02:18:54 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133822 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133822>Article Link</a> In a rare phenomenon, the prices of completely unrelated commodities are falling. Is another global recession coming? Not quite. What could possibly cause several different kinds of commodities – from oil to gold to silver – to drop at the same time? (more…)

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Oil Price Drop Set to Spur Gas Price Rally, Perpetual CEO Says http://www.opalesque.com/Commodities_Briefing/?p=133821 http://www.opalesque.com/Commodities_Briefing/?p=133821#comments Thu, 20 Nov 2014 02:18:34 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133821 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133821>Article Link</a> Natural gas, which has dropped 38 percent in the past 10 years, is poised to gain as falling oil prices reduce production from wells that pump both fossil fuels, according to Perpetual Energy Inc. (PMT) (more…)

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Oil Near 4-Year Low as OPEC Seen Resisting Cutting Output http://www.opalesque.com/Commodities_Briefing/?p=133820 http://www.opalesque.com/Commodities_Briefing/?p=133820#comments Thu, 20 Nov 2014 02:18:09 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133820 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133820>Article Link</a> West Texas Intermediate crude dropped for a third day as U.S. oil inventories gained unexpectedly. Brent rose in London. Futures fell as much as 1 percent in New York. Ecuador and Venezuela will ask members of the Organization of Petroleum Exporting Countries to reduce excess output, an Ecuador official said. (more…)

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IEA prepares for oil supply disruption scenarios http://www.opalesque.com/Commodities_Briefing/?p=133819 http://www.opalesque.com/Commodities_Briefing/?p=133819#comments Thu, 20 Nov 2014 02:17:35 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133819 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133819>Article Link</a> The International Energy Agency (IEA) completed its latest biennial Emergency Response Exercise (RER) on 18 November, as delegates from member and 10 non-member countries in Paris practiced and improved skills for responding to energy supply disruptions. (more…)

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Oil industry risks trillions of ’stranded assets’ on US-China climate deal http://www.opalesque.com/Commodities_Briefing/?p=133818 http://www.opalesque.com/Commodities_Briefing/?p=133818#comments Thu, 20 Nov 2014 02:17:16 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133818 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133818>Article Link</a> Petrobas’ hopes of becoming the world’s first trillion dollar company have deflated brutally. Brazil’s Petrobras is the most indebted company in the world, a perfect barometer of the crisis enveloping the global oil and fossil nexus on multiple fronts at once. (more…)

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Investors maintain interest in gold http://www.opalesque.com/Commodities_Briefing/?p=133817 http://www.opalesque.com/Commodities_Briefing/?p=133817#comments Thu, 20 Nov 2014 02:16:59 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133817 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133817>Article Link</a> A precipitous fall in the price of gold to a four-year low has done little to damage sentiment to the asset class as investors have gone bargain hunting. The precious metal has been caught up in the general decline in commodity prices in recent months, dropping below $1,200 (£766) per troy ounce, after having traded at values closer to $1,300 for most of this year. (more…)

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Gold Price Drops $20 on Swiss Gold Vote “No” Opinion Poll http://www.opalesque.com/Commodities_Briefing/?p=133816 http://www.opalesque.com/Commodities_Briefing/?p=133816#comments Thu, 20 Nov 2014 02:16:39 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133816 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133816>Article Link</a> Gold Prices sank 1.7% late in London trade Wednesday, erasing most of the last week’s gain as the latest opinion poll of the upcoming Swiss referendum put the “Yes” camp well short of a majority. (more…)

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The ECB’s gold buying idea is a non-starter http://www.opalesque.com/Commodities_Briefing/?p=133815 http://www.opalesque.com/Commodities_Briefing/?p=133815#comments Thu, 20 Nov 2014 02:16:21 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133815 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133815>Article Link</a> Bullion bulls, desperate for positive news amid prevailing negative sentiment on the gold market, latched onto pronouncements by Yves Mersch, member of the ECB’s executive board, earlier this week. Mensch said the European Central Bank may “theoretically” look at purchasing gold, equities and exchange-traded funds as part of a quantitative easing program as it tries to find ways to stoke inflation and stimulate economic growth. (more…)

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India mulling stricter control on gold imports http://www.opalesque.com/Commodities_Briefing/?p=133814 http://www.opalesque.com/Commodities_Briefing/?p=133814#comments Thu, 20 Nov 2014 02:16:02 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133814 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133814>Article Link</a> The Indian government is considering a further crackdown on gold imports, as New Delhi tries to control the country’s yawning trade deficit. Officials from the ministry of finance and the central bank have met in the past week to discuss the current restrictions on gold imports, reports Avantika Chilkoti. (more…)

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Silver demand to fall 7 percent in 2014 -Thomson Reuters GFMS http://www.opalesque.com/Commodities_Briefing/?p=133813 http://www.opalesque.com/Commodities_Briefing/?p=133813#comments Thu, 20 Nov 2014 02:15:17 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133813 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133813>Article Link</a> Demand for silver will post a 7 percent decline in 2014 because of a slower pace of buying by jewelers and industrial fabricators in the first three quarters of the year, metals consultant Thomson Reuters GFMS said on Tuesday. (more…)

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Silver Physical Demand Forecast to Drop 6.7% in ’14: GFMS http://www.opalesque.com/Commodities_Briefing/?p=133812 http://www.opalesque.com/Commodities_Briefing/?p=133812#comments Thu, 20 Nov 2014 02:14:59 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133812 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133812>Article Link</a> Physical demand for silver will decline 6.7 percent this year, driven by a slump in coins and bars, as prices headed for the second straight yearly decline, Thomson Reuters GFMS said. (more…)

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Goldman reports copper price to fall http://www.opalesque.com/Commodities_Briefing/?p=133811 http://www.opalesque.com/Commodities_Briefing/?p=133811#comments Thu, 20 Nov 2014 02:14:41 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133811 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133811>Article Link</a> Max Layton, an analyst, in his report, affirmed that, the bank has declined its outlook for copper in the year 2015, from 6,400 dollars per metric tonne to 6,217 dollars per metric tonne. The report also asserted that the marginal production cost of the base metal, for the year 2015 will lie between, 5,600 dollars per tonne, and 6,300 dollars per tonne. (more…)

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Aluminium pricing may never be the same again: Andy Home http://www.opalesque.com/Commodities_Briefing/?p=133810 http://www.opalesque.com/Commodities_Briefing/?p=133810#comments Thu, 20 Nov 2014 02:14:25 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133810 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133810>Article Link</a> The splintering of the global aluminium price is becoming ever more acute. Physical premiums on both sides of the Atlantic have just sailed through the $500 per tonne level, widening the disconnect between the global reference price set on the London Metal Exchange (LME) and the “all-in” price paid by manufacturers. (more…)

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Iron ore price hits five-year low, no year-end restocking seen http://www.opalesque.com/Commodities_Briefing/?p=133809 http://www.opalesque.com/Commodities_Briefing/?p=133809#comments Thu, 20 Nov 2014 02:14:06 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133809 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133809>Article Link</a> Iron ore prices slid to their lowest level in more than five years on Wednesday as a supply glut kept battering the market. Iron ore has lost nearly half its value this year, hit hard by a slowing economy in top consumer China. Analysts are ruling out any Chinese restocking that typically supports prices towards the end of each year. (more…)

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Alternative ETFs for Tech Investors http://www.opalesque.com/Commodities_Briefing/?p=133808 http://www.opalesque.com/Commodities_Briefing/?p=133808#comments Thu, 20 Nov 2014 02:13:41 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133808 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133808>Article Link</a> Fancy diversifying your equity exposure? A new ETF offers those interested in robotics a chance to allocate a minor holding in their portfolio to this fast growing industry. One of the most appealing features of ETFs is that they offer an investor easy access to a diverse array of asset classes and market sectors, including highly specialised, thematically defined exposures. (more…)

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Russia can withstand currency pressure http://www.opalesque.com/Commodities_Briefing/?p=133807 http://www.opalesque.com/Commodities_Briefing/?p=133807#comments Thu, 20 Nov 2014 02:13:15 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133807 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133807>Article Link</a> Investors should not totally avoid Russia as it can stave off a full-blown currency crisis, according to experts. The country has been under increased pressure in recent weeks as a fall in the rouble has been exacerbated by a weak oil price and the continued sanctions levied on it by the west due to the Ukraine conflict. (more…)

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Norway c.bank chief says currency drop beneficial in several ways http://www.opalesque.com/Commodities_Briefing/?p=133806 http://www.opalesque.com/Commodities_Briefing/?p=133806#comments Thu, 20 Nov 2014 02:13:00 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133806 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133806>Article Link</a> The weakening of the Norwegian crown currency during the last several months is beneficial in several ways, Central Bank Governor Oeystein Olsen said in a speech on Wednesday. (more…)

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California postpones greenhouse-gas credits auction http://www.opalesque.com/Commodities_Briefing/?p=133805 http://www.opalesque.com/Commodities_Briefing/?p=133805#comments Thu, 20 Nov 2014 02:12:43 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133805 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133805>Article Link</a> Hoping to inaugurate a historic link with a Canadian province in the fight against global warming, California officials were forced instead to call off a scheduled auction of carbon-emissions allowances Wednesday due to technical problems. (more…)

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Simon Terry: Pressure mounting on NZ to deliver real emission reduction http://www.opalesque.com/Commodities_Briefing/?p=133804 http://www.opalesque.com/Commodities_Briefing/?p=133804#comments Thu, 20 Nov 2014 02:12:23 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133804 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133804>Article Link</a> After many years focused on creative accounting, New Zealand is facing pressure to deliver emission reduction results. Things are different partly because the two biggest carbon polluters, the US and China, last week pledged to do something meaningful - though not that much. (more…)

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Life after the commodities boom http://www.opalesque.com/Commodities_Briefing/?p=133803 http://www.opalesque.com/Commodities_Briefing/?p=133803#comments Wed, 19 Nov 2014 01:43:00 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133803 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133803>Article Link</a> Data is one of the world’s most precious commodities. And companies dealing in commodities are facing ever complex data sets, more regulations, tighter trading timelines and depressed markets. Those left in the market need to increase profit margins. Maybe, just maybe, data holds the answer. (more…)

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The Commodity Supercycle: It’s Not Over Just Yet http://www.opalesque.com/Commodities_Briefing/?p=133802 http://www.opalesque.com/Commodities_Briefing/?p=133802#comments Wed, 19 Nov 2014 01:42:33 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133802 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133802>Article Link</a> As surprising as it might sound today, we believe the secular trend for commodities has higher elevations to travel, before eventually running its course - perhaps stretching as far as early into the next decade. (more…)

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A Different Kind of Oil Crisis http://www.opalesque.com/Commodities_Briefing/?p=133801 http://www.opalesque.com/Commodities_Briefing/?p=133801#comments Wed, 19 Nov 2014 01:42:14 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133801 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133801>Article Link</a> In a world that has become acclimated to sky-high oil prices, the Great Oil Crash is shaping up to be good news for cash-strapped Americans on the brink of the winter heating season. For the major oil economies, not so much. And oh, by the way, that now includes the United States. (more…)

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How low oil price is killing earnings projections http://www.opalesque.com/Commodities_Briefing/?p=133800 http://www.opalesque.com/Commodities_Briefing/?p=133800#comments Wed, 19 Nov 2014 01:41:57 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133800 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133800>Article Link</a> Investors hoping that companies break the cycle of posting strong profits but weak sales growth will have to hang on a while longer. The revenue outlook for the next several quarters among blue-chip companies has weakened considerably, with estimates pegging growth at barely positive by midyear, according to an analysis from brokerage ConvergEx. (more…)

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No easy options for Opec over oil slide http://www.opalesque.com/Commodities_Briefing/?p=133799 http://www.opalesque.com/Commodities_Briefing/?p=133799#comments Wed, 19 Nov 2014 01:41:41 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133799 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133799>Article Link</a> The tension has been palpable in the lead-up to next week’s Opec gathering in Vienna. As the oil price has languished at four-year lows, a flurry of diplomatic missions between some of the cartel’s members has taken place. Signalling through public statements and unofficial channels has ramped up. (more…)

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Goldman Says OPEC in Dilemma as Output Cut Seen Helping U.S. http://www.opalesque.com/Commodities_Briefing/?p=133798 http://www.opalesque.com/Commodities_Briefing/?p=133798#comments Wed, 19 Nov 2014 01:41:26 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133798 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133798>Article Link</a> A “large” production cut by OPEC to prop up crude prices isn’t in the group’s interest because it’s likely to bolster an expansion of U.S. shale oil, according to Goldman Sachs Group Inc. (more…)

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Venezuela calls ‘OPEC and non-OPEC’ talks on oil slide http://www.opalesque.com/Commodities_Briefing/?p=133797 http://www.opalesque.com/Commodities_Briefing/?p=133797#comments Wed, 19 Nov 2014 01:41:06 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133797 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133797>Article Link</a> Venezuela has called for a meeting of OPEC and non-OPEC countries to address the slide in oil prices, which is adding to the woes facing President Nicolas Maduro’s cash-strapped government. With the price of Brent crude at less than $80 a barrel, a drop of more than 25 percent since June, Venezuela and many other major oil producers are feeling the pinch. (more…)

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Water is the biggest output of U.S. oil and gas wells: Kemp http://www.opalesque.com/Commodities_Briefing/?p=133796 http://www.opalesque.com/Commodities_Briefing/?p=133796#comments Wed, 19 Nov 2014 01:40:50 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133796 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133796>Article Link</a> The biggest product of the U.S. petroleum industry is not oil, gas or condensate but water — billions and billions of gallons containing dissolved salts, grease and even naturally occurring radioactive materials. (more…)

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US shale and OPEC oil: Game of chicken? http://www.opalesque.com/Commodities_Briefing/?p=133795 http://www.opalesque.com/Commodities_Briefing/?p=133795#comments Wed, 19 Nov 2014 01:40:24 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133795 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133795>Article Link</a> The political rhetoric surrounding the recent drop in oil prices shows no signs of slowing, with Venezuela said that oil producing countries could soon meet to discuss the tumbling commodity. In a televised address late Monday, Venezuela President Nicolas Maduro said that a gathering of both Organization of the Petroleum Exporting Countries (OPEC) countries and non-OPEC countries was being planned. (more…)

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Lower Oil Prices Could Pressure Some Canadian Provinces http://www.opalesque.com/Commodities_Briefing/?p=133794 http://www.opalesque.com/Commodities_Briefing/?p=133794#comments Wed, 19 Nov 2014 01:40:00 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133794 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133794>Article Link</a> Crude oil has been like black gold for Canada’s three energy-exporting provinces, but further declines in oil prices could spill some red ink onto their balance sheets. (more…)

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Gold heading to $700 but other commodities set to bounce: Ramsey http://www.opalesque.com/Commodities_Briefing/?p=133793 http://www.opalesque.com/Commodities_Briefing/?p=133793#comments Wed, 19 Nov 2014 01:39:37 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133793 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133793>Article Link</a> Commodities prices have seen a sharp decline in the second half of this year. The price of crude oil has dropped below $80 a barrel and is hovering around four-year lows. Platinum, copper and silver are all trading sharply lower as well since June. The Bloomberg commodity index is down 15%. (more…)

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Credit Suisse: ‘We Are Bearish Gold’ http://www.opalesque.com/Commodities_Briefing/?p=133792 http://www.opalesque.com/Commodities_Briefing/?p=133792#comments Wed, 19 Nov 2014 01:39:23 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133792 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133792>Article Link</a> “We are bearish gold.” Credit Suisse is newly out with a huge report on its outlook for 2015, and among its 10 best trade ideas for next year: short gold. (more…)

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Could Gold Really Jump 15% in December? http://www.opalesque.com/Commodities_Briefing/?p=133791 http://www.opalesque.com/Commodities_Briefing/?p=133791#comments Wed, 19 Nov 2014 01:39:05 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133791 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133791>Article Link</a> The Swiss might be responsible for bringing early holiday cheer to gold bulls this year by delivering a big boost to bullion demand. On November 30, the people of Switzerland will vote on a referendum that could force the Swiss National Bank (SNB) to reverse a selling spree of the country’s gold reserves. (more…)

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Elliott Wave analyst sees big gold and silver price surge ahead http://www.opalesque.com/Commodities_Briefing/?p=133790 http://www.opalesque.com/Commodities_Briefing/?p=133790#comments Wed, 19 Nov 2014 01:38:45 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=133790 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=133790>Article Link</a> As usual the bank analysts are great at making forward price predictions based almost entirely on the current performance of whatever commodity they are analysing. It means they almost all inevitably miss any major turning points in price performance. (more…)

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