Opalesque Commodities Briefing http://www.opalesque.com/Commodities_Briefing Fri, 01 Jul 2016 01:28:51 +0000 http://wordpress.org/?v=2.5.1 en Commodities: Q2 gains strongest since 2010, driven by oil, gold http://www.opalesque.com/Commodities_Briefing/?p=142336 http://www.opalesque.com/Commodities_Briefing/?p=142336#comments Fri, 01 Jul 2016 01:28:51 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142336 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142336>Article Link</a> Commodity prices surged this quarter by the most in over five years, driven by rallies in oil, sugar and gold, as supplies become tighter in many sectors and investors warm to an asset class shunned for years. (more…)

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A ’spluttering’ recovery for commodities in 2016-17 http://www.opalesque.com/Commodities_Briefing/?p=142335 http://www.opalesque.com/Commodities_Briefing/?p=142335#comments Fri, 01 Jul 2016 01:28:33 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142335 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142335>Article Link</a> The 2016 financial year was a year of two halves, with a severe downward shift in prices followed by a period of relative stability, but experts are warning the path to recovery is unlikely to be smooth. (more…)

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Commodities are crushing it in 2016: Here’s why http://www.opalesque.com/Commodities_Briefing/?p=142334 http://www.opalesque.com/Commodities_Briefing/?p=142334#comments Fri, 01 Jul 2016 01:28:17 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142334 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142334>Article Link</a> Halfway through the year, commodities are enjoying a broad advance and are on track to break a five-year streak of annual losses. Analysts said the climb is likely to continue through the end of the year, but some don’t expect the second-half rally to be quite as impressive as the gains seen over the last six months. (more…)

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Brexit won’t alter $40-50/bbl oil price range for better or worse http://www.opalesque.com/Commodities_Briefing/?p=142333 http://www.opalesque.com/Commodities_Briefing/?p=142333#comments Fri, 01 Jul 2016 01:27:58 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142333 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142333>Article Link</a> After the UK became the first European Union member nation to exit the bloc following a referendum on 23 June, oil futures inevitably got caught up in the market melee that ensued. Trailing a wider equities market sell-off, and a weakening of G10 currencies – excepting the yen – oil futures endured short calls for two successive sessions following the vote. (more…)

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How Brexit could still spook the oil market http://www.opalesque.com/Commodities_Briefing/?p=142332 http://www.opalesque.com/Commodities_Briefing/?p=142332#comments Fri, 01 Jul 2016 01:27:42 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142332 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142332>Article Link</a> Trading in commodity markets might have resumed relative normality following Brexit turbulence, but one investment bank has detailed the downside risk that the oil price could still face. (more…)

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Oil leads robust gains for commodity prices this year http://www.opalesque.com/Commodities_Briefing/?p=142331 http://www.opalesque.com/Commodities_Briefing/?p=142331#comments Fri, 01 Jul 2016 01:27:24 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142331 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142331>Article Link</a> Total returns for a basket of 22 raw materials are over 20% since the start of January. Oil prices have risen around 34 per cent in the last six months, on target for the best start to the year since 2009 and helping commodities outperform other major asset classes during the first half of the year. (more…)

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Why Goldman thinks its $50 oil forecast could be wrong http://www.opalesque.com/Commodities_Briefing/?p=142330 http://www.opalesque.com/Commodities_Briefing/?p=142330#comments Fri, 01 Jul 2016 01:27:04 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142330 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142330>Article Link</a> Most oil market pundits will tell you how hard it is to predict where the black stuff is heading. And while Goldman Sachs is the most influential commodities bank, like pretty much every forecaster, it has been known to get things wrong. (more…)

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Brexit Gold Rally Seen Cutting Indian Imports to 7-Year Low http://www.opalesque.com/Commodities_Briefing/?p=142329 http://www.opalesque.com/Commodities_Briefing/?p=142329#comments Fri, 01 Jul 2016 01:26:48 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142329 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142329>Article Link</a> The surge in gold prices after Britain’s vote to quit the European Union will deal a further blow to demand in India, the second-largest consumer, and may cut imports to the lowest in seven years, said Bachhraj Bamalwa, a director at the All India Gems & Jewellery Trade Federation. (more…)

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Gold Logs Best Two Quarters Since 2007 http://www.opalesque.com/Commodities_Briefing/?p=142328 http://www.opalesque.com/Commodities_Briefing/?p=142328#comments Fri, 01 Jul 2016 01:26:27 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142328 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142328>Article Link</a> Gold prices settled lower on the day Thursday but logged its biggest two-quarter percentage increase since 2007, as investors piled into the metal amid global economic uncertainty and the U.K.’s vote to leave the European Union. (more…)

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3 Reasons Why This Gold Rally Can Last http://www.opalesque.com/Commodities_Briefing/?p=142327 http://www.opalesque.com/Commodities_Briefing/?p=142327#comments Fri, 01 Jul 2016 01:26:05 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142327 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142327>Article Link</a> The story of the year in financial markets has been gold’s underdog rally from multi-year lows. Can it last? Heiko Ihle at Rodman & Renshaw says that yes, indeed, the rally can continue. The analyst sees a “paradigm shift in sentiment for the gold market” and outlines three factors that we feel should “not only support gold at current levels,” but “potentially continue to push prices higher going forward.” (more…)

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Precious metals: Safe haven in unstable times http://www.opalesque.com/Commodities_Briefing/?p=142326 http://www.opalesque.com/Commodities_Briefing/?p=142326#comments Fri, 01 Jul 2016 01:25:50 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142326 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142326>Article Link</a> Economic upheaval. Monetary shenanigans. Cashless society and computer hackers. The reasons to own physical precious metals are legion, in light of the truism that governments and their paper currencies rise and fall, but gold always has intrinsic and universal value. (more…)

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Gold Prices Steady as ‘Brexit = Lehmans’, Worst ‘Yet to Come’, Chaotic UK Parliament Debates Lindsay Lohan Tweets http://www.opalesque.com/Commodities_Briefing/?p=142325 http://www.opalesque.com/Commodities_Briefing/?p=142325#comments Fri, 01 Jul 2016 01:25:33 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142325 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142325>Article Link</a> Gold Prices held tight at this week’s opening level on Thursday in London, trading at $1317 per ounce as the rebound in Western stock markets stalled and the leadership race for both the UK’s ruling and opposition political parties grew yet more fractious. The US Dollar and Japanese Yen eased further back however from last week’s ’safe haven’ surge following the UK’s shock Brexit vote. (more…)

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Iron ore seen boxed below $50 in H2 as glut persists http://www.opalesque.com/Commodities_Briefing/?p=142324 http://www.opalesque.com/Commodities_Briefing/?p=142324#comments Fri, 01 Jul 2016 01:25:13 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142324 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142324>Article Link</a> After an unexpected rally in the first months of 2016, iron ore should fall back below $50 a tonne in the second half of the year as more of the bulk commodity hits an oversupplied market, a Reuters poll showed. (more…)

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Basic Materials: Recent Commodity Rallies Leave Few Opportunities http://www.opalesque.com/Commodities_Briefing/?p=142323 http://www.opalesque.com/Commodities_Briefing/?p=142323#comments Fri, 01 Jul 2016 01:24:51 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142323 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142323>Article Link</a> Optimism continues to reign in the basic materials sector year to date, but investors are overestimating the sustainability of recent commodity price rallies. The basic materials sector remains severely overvalued, with a market-cap weighted price/fair value estimate of 1.26 as of May 31. (more…)

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Another Rally Looms for Gold ETFs http://www.opalesque.com/Commodities_Briefing/?p=142322 http://www.opalesque.com/Commodities_Briefing/?p=142322#comments Fri, 01 Jul 2016 01:24:27 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142322 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142322>Article Link</a> The SPDR Gold Shares, iShares Gold Trust and ETFS Physical Swiss Gold Shares and rival gold exchange traded products have been in focus as investors look for safe-haven plays in a post-Brexit world. That could be a sign of more upside to come for already gold and the related ETFs. (more…)

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How to Invest in Gold: Physical vs. Miners ETFs http://www.opalesque.com/Commodities_Briefing/?p=142321 http://www.opalesque.com/Commodities_Briefing/?p=142321#comments Fri, 01 Jul 2016 01:24:10 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142321 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142321>Article Link</a> Gold is a go-to commodity during troubled times, and exchange-traded funds (ETFs) have made it easier than ever to hedge a portfolio. For example, the SPDR Gold Trust experienced over $1.3 billion in net inflows in the days following Britain’s decision to leave the European Union as investors sought a safe-haven asset class. (more…)

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What Currency to Buy After Brexit? Try the Brazilian Real http://www.opalesque.com/Commodities_Briefing/?p=142320 http://www.opalesque.com/Commodities_Briefing/?p=142320#comments Fri, 01 Jul 2016 01:23:55 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142320 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142320>Article Link</a> In the wake of Brexit, investors expected the traditional safe-haven currencies, the yen and Swiss franc, to soar. But it was the Brazilian real that really took off. An unlikely safe-haven, the real has risen by 4% against the U.S. dollar since last Thursday, the day the British voted to leave the European Union. (more…)

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Pound at Risk of Fall in Reserve-Currency Ranks After Brexit http://www.opalesque.com/Commodities_Briefing/?p=142319 http://www.opalesque.com/Commodities_Briefing/?p=142319#comments Fri, 01 Jul 2016 01:23:41 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142319 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142319>Article Link</a> The pound is at risk of fading from the top ranks of central-bank asset holdings following Britain’s decision to leave the European Union. The world’s foremost reserve currency a century ago, sterling has been overtaken by the dollar and the euro, mirroring the U.K.’s waning influence in the global economy. (more…)

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China’s Currency Confusion http://www.opalesque.com/Commodities_Briefing/?p=142318 http://www.opalesque.com/Commodities_Briefing/?p=142318#comments Fri, 01 Jul 2016 01:23:26 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142318 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142318>Article Link</a> One thing is for sure, the Chinese yuan just had its worst drop on record ever since the last currency in 1994. The yuan lost 2.9 percent against the dollar since the end of March to 6.64 on June 30. (more…)

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Brexit: 94 Unanswered Questions on Climate and Energy Policy http://www.opalesque.com/Commodities_Briefing/?p=142317 http://www.opalesque.com/Commodities_Briefing/?p=142317#comments Fri, 01 Jul 2016 01:23:11 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142317 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142317>Article Link</a> What does the UK’s shock vote to leave the European Union mean for energy and climate change? Speaking simultaneously on Wednesday morning at separate events in London, Amber Rudd, secretary of state for energy and climate change and Andrea Leadsom, energy minister, both sought to offer reassurances that UK energy and climate commitments would continue. (more…)

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Warning sounds on global warming http://www.opalesque.com/Commodities_Briefing/?p=142316 http://www.opalesque.com/Commodities_Briefing/?p=142316#comments Fri, 01 Jul 2016 01:22:53 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142316 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142316>Article Link</a> The record warm start to the year will be the new normal within the next few generations, scientists say. The first six months of 2016 have been the warmest since records began, but these temperatures may soon seem on the cold side, climate scientist James Renwick says. (more…)

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What The ‘Brexit’ Means For Gold And Other Commodities http://www.opalesque.com/Commodities_Briefing/?p=142315 http://www.opalesque.com/Commodities_Briefing/?p=142315#comments Thu, 30 Jun 2016 00:19:46 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142315 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142315>Article Link</a> The news out of the United Kingdom rocked global markets. In an historic referendum vote, citizens of the U.K. narrowly voted for a “Brexit” — a British exit from the European Union. Since joining the European Union in 1973, a fair number of Britons have been skeptical of the governing body. (more…)

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Which Commodities Will Benefit From Brexit? http://www.opalesque.com/Commodities_Briefing/?p=142314 http://www.opalesque.com/Commodities_Briefing/?p=142314#comments Thu, 30 Jun 2016 00:19:33 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142314 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142314>Article Link</a> Buy gold but be cautious around oil and copper, that’s the main takeaway from Deutsche Bank’s special commodities report entitled “commodities weathering the Brexit storm”. (more…)

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The Oil Price Rebound Will Be Brief - Goldman Sachs http://www.opalesque.com/Commodities_Briefing/?p=142313 http://www.opalesque.com/Commodities_Briefing/?p=142313#comments Thu, 30 Jun 2016 00:19:16 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142313 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142313>Article Link</a> Goldman Sachs has rejected analysts’ opinions that the global oil market is recovering, noting that while it expects a “modest” deficit in the coming months based on the slight rebound in oil prices, the market will again be in a state of surplus by early next year. (more…)

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Abu Dhabi Merger to Create Oil Producer Dwarfing OPEC’s Libya http://www.opalesque.com/Commodities_Briefing/?p=142312 http://www.opalesque.com/Commodities_Briefing/?p=142312#comments Thu, 30 Jun 2016 00:19:03 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142312 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142312>Article Link</a> Abu Dhabi’s proposed merger of two of its largest sovereign investment funds would create a global energy business that produces more oil than OPEC member Libya and with bigger assets than ConocoPhillips. (more…)

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Iraq’s oil exports set to decline in June for second month http://www.opalesque.com/Commodities_Briefing/?p=142311 http://www.opalesque.com/Commodities_Briefing/?p=142311#comments Thu, 30 Jun 2016 00:18:53 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142311 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142311>Article Link</a> Iraq’s oil exports are set to decline in June for a second month, according to loading data and an industry source, adding to signs that supply growth from OPEC’s second-largest producer is slowing this year. (more…)

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Gold could be set for a strong breakout http://www.opalesque.com/Commodities_Briefing/?p=142310 http://www.opalesque.com/Commodities_Briefing/?p=142310#comments Thu, 30 Jun 2016 00:18:21 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142310 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142310>Article Link</a> The British voters’ decision to leave the EU has badly shaken markets– although the dollar remained relatively calm while investors rushed into the safety of gold. Gold prices reached the long-term resistance target projection level of $1,340 before retreating. This is a rally within the context of a longer-term uptrend breakout. (more…)

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Gold is about to drop, and this play will let me cash in big when it does http://www.opalesque.com/Commodities_Briefing/?p=142309 http://www.opalesque.com/Commodities_Briefing/?p=142309#comments Thu, 30 Jun 2016 00:17:49 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142309 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142309>Article Link</a> Gold’s run is almost done, according to gold trader Andrew Keene of AlphaShark, and he has just the way to profit from an expected slide in the precious metal. The yellow metal has had an incredible year, and that has sent most gold-mining stocks soaring. But with market uncertainty appearing to settle amid the post-Brexit vote rebound, Keene thinks the metal is due for a turn lower. (more…)

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Gold is back http://www.opalesque.com/Commodities_Briefing/?p=142308 http://www.opalesque.com/Commodities_Briefing/?p=142308#comments Thu, 30 Jun 2016 00:17:30 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142308 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142308>Article Link</a> Significant downturn in economic growth and rising uncertainty over the political developments have helped gold become a new emerging bull market, with the price expected to rise to US$2,300 within the next 24 months, according to a Liechtenstein-basesd asset and wealth management firm. (more…)

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Faber Says Own Gold, Prepare for QE4 as Easing Follows Brexit http://www.opalesque.com/Commodities_Briefing/?p=142307 http://www.opalesque.com/Commodities_Briefing/?p=142307#comments Thu, 30 Jun 2016 00:17:07 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142307 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142307>Article Link</a> Gold’s investment case has been strengthened by the U.K.’s vote to quit the European Union as the fallout may spur the world’s central banks to step up easing, hurting currencies and favoring bullion, according to Marc Faber, publisher of the Gloom, Boom & Doom Report. (more…)

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Cautiously optimistic about nickel price http://www.opalesque.com/Commodities_Briefing/?p=142306 http://www.opalesque.com/Commodities_Briefing/?p=142306#comments Thu, 30 Jun 2016 00:16:44 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142306 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142306>Article Link</a> Base metals have enjoyed a solid 2016 so far with only lead (-3%) in negative territory for the year. While the likes of zinc (+28%) and tin (+16%) have rallied and steelmaking raw materials iron ore (+24%) and coking coal (+12%) have come back strongly, nickel remains stuck in the doldrums. (more…)

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Copper hits eight-week peak as Brexit fears fade, dollar dips http://www.opalesque.com/Commodities_Briefing/?p=142305 http://www.opalesque.com/Commodities_Briefing/?p=142305#comments Thu, 30 Jun 2016 00:16:27 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142305 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142305>Article Link</a> Copper and nickel climbed to the highest levels in nearly eight weeks on Wednesday, bolstered by a softer dollar and fading fears about Britain’s vote to exit the European Union. Zinc and lead touched three-week highs as the dollar gave up some of its gains made since the Brexit vote last week. (more…)

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2016 already best year ever for world’s largest gold ETF http://www.opalesque.com/Commodities_Briefing/?p=142304 http://www.opalesque.com/Commodities_Briefing/?p=142304#comments Thu, 30 Jun 2016 00:16:14 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142304 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142304>Article Link</a> Once the largest fund of its kind in the world, top physical gold-backed exchange traded fund – SPDR Gold Shares (GLD) – is having a rip-roaring first half of 2016. After suffering through three years of a declining gold price and investors liquidating positions built up during the metal’s bull run, this year the fund’s assets under management have swelled by $18.5 billion year to date. (more…)

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Biggest Gold ETF Tops Record as Angst Drives Inflows http://www.opalesque.com/Commodities_Briefing/?p=142303 http://www.opalesque.com/Commodities_Briefing/?p=142303#comments Thu, 30 Jun 2016 00:16:01 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142303 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142303>Article Link</a> To see just how big the stampede into gold has been this year, look no further than exchange-traded funds. Investors have already poured $12.2 billion into SPDR Gold Shares, topping the inflow for all of 2009 that was the highest since the fund was created 12 years ago. (more…)

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Brexit Weighs on Big Oil ETFs http://www.opalesque.com/Commodities_Briefing/?p=142302 http://www.opalesque.com/Commodities_Briefing/?p=142302#comments Thu, 30 Jun 2016 00:15:47 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142302 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142302>Article Link</a> The United States Oil Fund, which tracks West Texas Intermediate crude oil futures, and the United States Brent Oil Fund , which tracks Brent crude oil futures, are among the various commodities exchange traded products that have been stung by the Brexit result. (more…)

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Japan should not resort to currency depreciation http://www.opalesque.com/Commodities_Briefing/?p=142301 http://www.opalesque.com/Commodities_Briefing/?p=142301#comments Thu, 30 Jun 2016 00:15:36 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142301 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142301>Article Link</a> In the midst of the fallout from the UK’s decision to leave the EU last week, Japan has become a haven for investors. Instead of providing reassurance to Japanese policymakers, this flight to safety is threatening domestic growth and monetary stability. How should the authorities respond? (more…)

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Currency wars pose ‘lose-lose’ threat after Brexit vote, warns ECB’s Mario Draghi http://www.opalesque.com/Commodities_Briefing/?p=142300 http://www.opalesque.com/Commodities_Briefing/?p=142300#comments Thu, 30 Jun 2016 00:15:22 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142300 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142300>Article Link</a> The world is at risk of a currency war after the Brexit vote, as each economy seeks to devalue their own money in a bid to boost growth, Mario Draghi has warned. (more…)

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JP Morgan ‘expecting Scottish independence and new currency’ http://www.opalesque.com/Commodities_Briefing/?p=142299 http://www.opalesque.com/Commodities_Briefing/?p=142299#comments Thu, 30 Jun 2016 00:15:08 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142299 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142299>Article Link</a> JP Morgan has confirmed that it expects Scotland to vote Yes in a second independence referendum as well as introducing its own currency before the UK leaves the European Union in 2019. (more…)

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Brexit: 94 unanswered questions for climate and energy policy http://www.opalesque.com/Commodities_Briefing/?p=142298 http://www.opalesque.com/Commodities_Briefing/?p=142298#comments Thu, 30 Jun 2016 00:13:45 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142298 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142298>Article Link</a> What does the UK’s shock vote to leave the European Union mean for energy and climate change? Amber Rudd, secretary of state for energy and climate change, and Andrea Leadsom, energy minister, both sought to offer reassurances that UK energy and climate commitments would continue. (more…)

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Green lining? Five ways Brexit could be good for the environment http://www.opalesque.com/Commodities_Briefing/?p=142297 http://www.opalesque.com/Commodities_Briefing/?p=142297#comments Thu, 30 Jun 2016 00:13:25 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142297 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142297>Article Link</a> Brexit may be bad in many ways, but here’s a very faint glimmer of a silver lining. If the UK leaves the European Union, it might not necessarily be a disaster for the environment. (more…)

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Understanding the Difference Between Hard and Soft Commodities http://www.opalesque.com/Commodities_Briefing/?p=142296 http://www.opalesque.com/Commodities_Briefing/?p=142296#comments Thu, 30 Jun 2016 00:13:07 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142296 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142296>Article Link</a> There are two main types of commodities: hard and soft. Hard commodities consist of natural resources, such as oil or gold. While soft commodities are agricultural goods or livestock that must be grown and cared for in order to be produced. Both markets trade on supply and demand, and are heavily influenced by macroeconomic events. (more…)

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China commodities rally on hopes of measures to counter Brexit http://www.opalesque.com/Commodities_Briefing/?p=142295 http://www.opalesque.com/Commodities_Briefing/?p=142295#comments Wed, 29 Jun 2016 04:13:34 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142295 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142295>Article Link</a> Commodity futures in China from steel to soymeal rallied on Tuesday, as investors bet on countries bringing in measures to counter the shock to markets and economies from Britain’s vote to leave the European Union. (more…)

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Brexit fallout, global commodity markets may remain volatile http://www.opalesque.com/Commodities_Briefing/?p=142294 http://www.opalesque.com/Commodities_Briefing/?p=142294#comments Wed, 29 Jun 2016 04:13:16 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142294 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142294>Article Link</a> “Brexit”, the word continued to keep global markets involved and horrified from the past few days and when reality happened it spooked the financial world in a massive way. Britain is the first state to leave the 28-nation European Union since its foundation. (more…)

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Oil Is Still Heading to $10 a Barrel http://www.opalesque.com/Commodities_Briefing/?p=142293 http://www.opalesque.com/Commodities_Briefing/?p=142293#comments Wed, 29 Jun 2016 04:12:59 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142293 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142293>Article Link</a> Back in February 2015, the price of West Texas Intermediate stood at about $52 per barrel, half of its 2014 peak. I argued then that a renewed decline was coming that could drive it below $20, a scenario regarded by oil bulls as unthinkable. (more…)

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Oil prices rebound in post-Brexit bargain hunting http://www.opalesque.com/Commodities_Briefing/?p=142292 http://www.opalesque.com/Commodities_Briefing/?p=142292#comments Wed, 29 Jun 2016 04:12:43 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142292 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142292>Article Link</a> Oil prices rose above $48 a barrel on Tuesday as investors took advantage of a two-day slide in crude following Britain’s vote to leave the European Union to lock in lower prices. (more…)

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‘Going long on fear’: Analysts hike gold price forecasts after Brexit http://www.opalesque.com/Commodities_Briefing/?p=142291 http://www.opalesque.com/Commodities_Briefing/?p=142291#comments Wed, 29 Jun 2016 04:12:26 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142291 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142291>Article Link</a> Gold prices ran up after Britain’s decision to quit the European Union, climbing sharply last Friday and yesterday as the referendum results rippled through global markets, pummelling stocks and some currencies. (more…)

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Gold price could rise on another big post-Brexit shock, Stifel says http://www.opalesque.com/Commodities_Briefing/?p=142290 http://www.opalesque.com/Commodities_Briefing/?p=142290#comments Wed, 29 Jun 2016 04:12:10 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142290 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142290>Article Link</a> There may be some more upside for safe-haven gold after the Brexit shock, but the upside is likely to be limited, said experts. “To buy gold at these levels, you’d have to be betting that a lot more goes wrong and I’m really not sure that’s going to be the case,” Hans Olsen, Stifel’s global head of investment strategy, said. (more…)

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Gold Veteran Says Brexit May Be Start of ‘Major Bull Market’ http://www.opalesque.com/Commodities_Briefing/?p=142289 http://www.opalesque.com/Commodities_Briefing/?p=142289#comments Wed, 29 Jun 2016 04:11:53 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142289 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142289>Article Link</a> Gold may stand at the start of a major bull market should the U.K.’s Brexit vote prove to be a forerunner of greater political and financial instability around the world, according to Evolution Mining Ltd.’s Jake Klein, a veteran of more than 20 years in the industry. (more…)

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Gold Retreats, Copper Climbs as Post-Brexit Markets Stabilize http://www.opalesque.com/Commodities_Briefing/?p=142288 http://www.opalesque.com/Commodities_Briefing/?p=142288#comments Wed, 29 Jun 2016 04:11:44 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142288 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142288>Article Link</a> Gold fell back and copper soared as global markets stabilized on speculation that policy makers will do more to curb the post-Brexit fallout. Bullion fell after its biggest two-day surge in seven years as European and U.S. equities and the pound climbed for the first time since the U.K. voted to leave the European Union. (more…)

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Hedge Funds Push Gold Bullish Bets To Record Level http://www.opalesque.com/Commodities_Briefing/?p=142287 http://www.opalesque.com/Commodities_Briefing/?p=142287#comments Wed, 29 Jun 2016 04:11:30 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142287 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142287>Article Link</a> Hedge funds and money managers were buying gold as prices were dropping, ahead of the British referendum on the future of its EU membership, according to the latest trade data from the Commodity Futures Trading Commission. Friday’s report showed that gold’s speculative net length reached historic highs last week. (more…)

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Copper touches 2-month peak as dollar eases http://www.opalesque.com/Commodities_Briefing/?p=142286 http://www.opalesque.com/Commodities_Briefing/?p=142286#comments Wed, 29 Jun 2016 04:11:04 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142286 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142286>Article Link</a> Copper hit its highest level in almost two months on Tuesday as the US dollar weakened and hedge funds and speculators slashed their bets on lower prices. Data from the London Metal Exchange showed money managers had reduced their short position in copper to just over 86,600 lots on Friday, down from 107,600 lots a week before. (more…)

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What makes ETFs good investments for retirement http://www.opalesque.com/Commodities_Briefing/?p=142285 http://www.opalesque.com/Commodities_Briefing/?p=142285#comments Wed, 29 Jun 2016 04:10:33 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142285 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142285>Article Link</a> The popularity of exchange-traded funds has never been higher. The industry just passed the $100-billion mark in assets in Canada, and a recent poll conducted by the Journal of Financial Planning and the Financial Planning Association Research and Practice Institute indicated that ETFs were the most popular retirement product among advisers. (more…)

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High-Yield ETFs Miss The Boat, Again http://www.opalesque.com/Commodities_Briefing/?p=142284 http://www.opalesque.com/Commodities_Briefing/?p=142284#comments Wed, 29 Jun 2016 04:10:08 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142284 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142284>Article Link</a> High-yield exchange-traded funds (ETFs) struggled last year, in part because energy bonds took a beating when oil prices fell. Does that make an ETF that avoids energy bonds a good idea? We don’t think so. (more…)

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Brexit and currency war http://www.opalesque.com/Commodities_Briefing/?p=142283 http://www.opalesque.com/Commodities_Briefing/?p=142283#comments Wed, 29 Jun 2016 04:09:49 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142283 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142283>Article Link</a> In the aftermath of Britain’s vote to leave the European Union last week, fears are mounting that the world might plunge into a currency war. On Monday, China’s central bank cut the yuan’s fixed rate by almost 1 percent to 6.6375 to the dollar as the greenback surged after the Brexit vote. Monday’s fix was the lowest level since December 2010. (more…)

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Currency volatility makes careful planning essential http://www.opalesque.com/Commodities_Briefing/?p=142282 http://www.opalesque.com/Commodities_Briefing/?p=142282#comments Wed, 29 Jun 2016 04:09:36 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142282 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142282>Article Link</a> The instability of exchange rates against the US dollar has reduced the number of speculators in the market and instead made currency hedging a part of business strategy. Michael Judge, head of corporate clients at currency provider OFX, says the large movements of the US dollar against the Aussie in the past 18 months have made currency a business input rather than an opportunity to make profits or play the market. (more…)

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Currency market volatility may stay http://www.opalesque.com/Commodities_Briefing/?p=142281 http://www.opalesque.com/Commodities_Briefing/?p=142281#comments Wed, 29 Jun 2016 04:09:08 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142281 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142281>Article Link</a> The recent referendum by the British against staying in the European Union, which resulted in Prime Minister David Cameron resigning from office, also caused severe volatility in the global financial markets with the currency markets being the worst hit. (more…)

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N. Korea pushes clean energy development to earn currency http://www.opalesque.com/Commodities_Briefing/?p=142280 http://www.opalesque.com/Commodities_Briefing/?p=142280#comments Wed, 29 Jun 2016 04:08:51 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142280 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142280>Article Link</a> North Korea is pushing to embrace renewable energy such as solar and wind to address the country’s power shortage issues and make profit by selling tradable carbon emissions credits, according to a think tank’s report published on June 28. (more…)

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Federal carbon tax a cash grab that could damage the economy http://www.opalesque.com/Commodities_Briefing/?p=142279 http://www.opalesque.com/Commodities_Briefing/?p=142279#comments Wed, 29 Jun 2016 04:08:32 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142279 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142279>Article Link</a> Carbon taxes largely function as energy taxes to generate a new source of revenues for cash-hungry governments. According to a report in the Globe and Mail, Finance Canada is quietly promoting the idea of a federal carbon tax, or at least, a minimum carbon price, in order to reduce greenhouse gas emissions as Canada has pledged to do in last December’s Paris Agreement. (more…)

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How long Brexit uncertainty reigns is key for commodities, gold http://www.opalesque.com/Commodities_Briefing/?p=142278 http://www.opalesque.com/Commodities_Briefing/?p=142278#comments Tue, 28 Jun 2016 01:00:17 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142278 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142278>Article Link</a> Amid the horror for many, the elation for others and the shock for virtually everybody of the British vote to exit the European Union, perhaps the most measured and predictable response was from commodity markets. As it became clear on Friday that the Leave camp was going to pull off an unexpected victory, commodities did what they normally do in a period of heightened risk, they declined. (more…)

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Japan’s Komatsu Warns Brexit Vote Could Delay Commodity Rebound http://www.opalesque.com/Commodities_Briefing/?p=142277 http://www.opalesque.com/Commodities_Briefing/?p=142277#comments Tue, 28 Jun 2016 01:00:02 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=142277 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=142277>Article Link</a> The U.K.’s vote to leave the European Union could delay a recovery in commodity prices, while the yen’s response to the Brexit decision, soaring to within sight of 99 to the dollar, was an overreaction, according to Komatsu Ltd.’s chief financial officer. (more…)

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