Opalesque Commodities Briefing » Price Watch http://www.opalesque.com/Commodities_Briefing Wed, 30 Nov 2016 00:03:38 +0000 http://wordpress.org/?v=2.5.1 en Rabobank Report Projects Better Commodity Prices Ahead? http://www.opalesque.com/Commodities_Briefing/?p=144568 http://www.opalesque.com/Commodities_Briefing/?p=144568#comments Wed, 30 Nov 2016 00:03:22 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144568 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144568>Article Link</a> A recent Rabobank report projects a rise in global demand should bring a three-year decline in commodity prices to an end. Nebraska Farm Bureau Senior Economist Jay Rempe says that outlook should give hope to farmers and ranchers who have been struggling through the downturn in the farm economy. (more…)

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Here’s Why the Drop in Oil Prices Isn’t Over http://www.opalesque.com/Commodities_Briefing/?p=144565 http://www.opalesque.com/Commodities_Briefing/?p=144565#comments Wed, 30 Nov 2016 00:02:33 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144565 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144565>Article Link</a> Saudi Arabia, Iran, and Iraq can’t agree how to end a fight for market share. Here we go again. Like a year ago, crude oil futures are tumbling again Tuesday as hopes for a cut in output from the Organization of Petroleum Exporting Countries (OPEC) fade due to entrenched differences between its most important members. (more…)

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Get ready for $40 oil if OPEC deal collapses http://www.opalesque.com/Commodities_Briefing/?p=144545 http://www.opalesque.com/Commodities_Briefing/?p=144545#comments Tue, 29 Nov 2016 01:18:24 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144545 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144545>Article Link</a> It’s time for the oil industry’s favorite guessing game: Will OPEC continue to flood the world with more oil, or will it finally blink and cut production? OPEC reached a preliminary deal to much fanfare in September to cut output for the first time since 2008. That tentative agreement sent crude soaring above $50 a barrel. (more…)

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Gold price fights back – touches $1,200 http://www.opalesque.com/Commodities_Briefing/?p=144541 http://www.opalesque.com/Commodities_Briefing/?p=144541#comments Tue, 29 Nov 2016 01:17:19 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144541 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144541>Article Link</a> Gold was attempting a comeback of sorts in Asian trading on Monday despite relentless selling by physically-backed gold ETF investors since Donald Trump’s victory in US presidential elections. (more…)

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MKS, Commerzbank: Shanghai Gold Premium Hits Multi-Year High http://www.opalesque.com/Commodities_Briefing/?p=144539 http://www.opalesque.com/Commodities_Briefing/?p=144539#comments Tue, 29 Nov 2016 01:16:50 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144539 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144539>Article Link</a> The Shanghai Gold Exchange premium soared to multi-year highs overnight, with Commerzbank citing recent news reports that China’s government may restrict the number of import licenses and MKS (Switzerland) S.A. reporting that dollar weakness also boosted the appeal of gold. (more…)

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Should You Buy or Sell Oil ETFs Ahead of the OPEC Meet? http://www.opalesque.com/Commodities_Briefing/?p=144532 http://www.opalesque.com/Commodities_Briefing/?p=144532#comments Tue, 29 Nov 2016 01:14:53 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144532 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144532>Article Link</a> Oil prices have been volatile lately flipping between hope and despair regarding a likely output curb/freeze deal at the formal OPEC meeting in Vienna on November 30. Though Iraq and Iran were reluctant to cut oil output initially, Iraq finally gave its approval. (more…)

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Doubts shadow the recent commodities rally http://www.opalesque.com/Commodities_Briefing/?p=144525 http://www.opalesque.com/Commodities_Briefing/?p=144525#comments Thu, 24 Nov 2016 23:10:18 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144525 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144525>Article Link</a> Commodities prices have begun rising from their long slump, providing good news for the embattled shipping trade. But uncertainty and ambiguity in China, whose demand dictates the prices of many resources, are casting doubts over how long the rebound can last. (more…)

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Oil Prices Firm Ahead of Expected Production Cut http://www.opalesque.com/Commodities_Briefing/?p=144518 http://www.opalesque.com/Commodities_Briefing/?p=144518#comments Thu, 24 Nov 2016 23:08:25 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144518 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144518>Article Link</a> Analysts expect swift fall in prices if no deal reached. Oil futures were slightly lower on Thursday, with all eyes on the coming Organization of the Petroleum Exporting Countries meeting next week, where a deal to cut output is expected. (more…)

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An OPEC Oil Price Surge May Not Last, IEA Says http://www.opalesque.com/Commodities_Briefing/?p=144517 http://www.opalesque.com/Commodities_Briefing/?p=144517#comments Thu, 24 Nov 2016 23:08:10 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144517 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144517>Article Link</a> An oil price surge triggered by a successful OPEC agreement to cut production could be snuffed out as supply surges back, according to the head of International Energy Agency. (more…)

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Woe is gold: monetary metal drops below US$1,200 for first time in a year http://www.opalesque.com/Commodities_Briefing/?p=144513 http://www.opalesque.com/Commodities_Briefing/?p=144513#comments Thu, 24 Nov 2016 23:07:06 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144513 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144513>Article Link</a> Donald Trump’s pledge to fire up the American dollar printing machine again is having the same effect on gold as did the previous three programs of quantitative easing since 2008. That added US$4.5 trillion to the global currency inventory and kneecapped what had been a nearly ten-year run in the gold price, which peaked in September 2011 at US$1,923.70. (more…)

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Gold will hit $1,440 by mid-June 2017 http://www.opalesque.com/Commodities_Briefing/?p=144512 http://www.opalesque.com/Commodities_Briefing/?p=144512#comments Thu, 24 Nov 2016 23:06:52 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144512 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144512>Article Link</a> James Butterfill, head of research and investment strategy at ETF Securities, has remained bullish on the outlook for gold despite the price of the commodity falling below $1,200 per ounce for the first time since February. (more…)

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Gold price nears ten-month low and could fall to $1,150 http://www.opalesque.com/Commodities_Briefing/?p=144511 http://www.opalesque.com/Commodities_Briefing/?p=144511#comments Thu, 24 Nov 2016 23:06:39 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144511 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144511>Article Link</a> The gold price closed in on its lowest level for ten months yesterday, hitting a nadir of $1,180 before recovering slightly. Having fallen in excess of ten per cent from a brief post-US presidential election high of $1,337, the precious metal remains under pressure ahead of an expected increase in US interest rates next month. (more…)

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Low food prices to pressure farm commodities in 2017 http://www.opalesque.com/Commodities_Briefing/?p=144496 http://www.opalesque.com/Commodities_Briefing/?p=144496#comments Wed, 23 Nov 2016 23:14:41 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144496 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144496>Article Link</a> Global food prices are set to remain low in 2017, keeping pressure on many farm commodity prices, say analysts at Rabobank. While the drop in sterling has firmed prices for many UK farm outputs, large parts of the food and agriculture sector need to be prepared to keep working in a low-priced environment, said the Dutch food and agribusiness bank in its Global Outlook 2017 report. (more…)

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$50 oil is coming back soon, but don’t get too excited: RBC Strategist http://www.opalesque.com/Commodities_Briefing/?p=144493 http://www.opalesque.com/Commodities_Briefing/?p=144493#comments Wed, 23 Nov 2016 23:13:57 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144493 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144493>Article Link</a> Next week’s OPEC meeting could send oil back to $50, but investors may want to curb their enthusiasm. In a note from RBC Capital Markets on Tuesday, head of commodity strategy Helima Croft wrote that OPEC would “stick the landing” at its Nov. 30 meeting and finally draw a long-awaited agreement. (more…)

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Oil price firms after Iraq says it is ready to cut output http://www.opalesque.com/Commodities_Briefing/?p=144492 http://www.opalesque.com/Commodities_Briefing/?p=144492#comments Wed, 23 Nov 2016 23:13:44 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144492 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144492>Article Link</a> PM indicates willingness to ‘shoulder responsibility’ for Opec production reductions. Iraq’s prime minister said the country is willing to cut some of its own production, in a move that could smooth the way to a supply deal when Opec, the oil cartel, meets next week. (more…)

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Crude nears $50 as hopes of Opec deal grow http://www.opalesque.com/Commodities_Briefing/?p=144489 http://www.opalesque.com/Commodities_Briefing/?p=144489#comments Wed, 23 Nov 2016 23:12:58 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144489 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144489>Article Link</a> Growing speculation that the Opec nations and Russia will agree output cuts at a meeting next week sent the price of Brent crude surging to its highest level in three weeks. (more…)

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Gold Drops Below $1,200.00, Hits 9-Mo. Low http://www.opalesque.com/Commodities_Briefing/?p=144487 http://www.opalesque.com/Commodities_Briefing/?p=144487#comments Wed, 23 Nov 2016 23:12:24 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144487 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144487>Article Link</a> Gold prices are solidly lower, hit a nine-month low and have fallen below key chart support at $1,200.00 in early U.S. trading Wednesday. The bearish near-term technical postures for gold and silver markets continue to invite chart-based selling interest. (more…)

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Eyes on tightening palladium/platinum price differential, parity unlikely: sources http://www.opalesque.com/Commodities_Briefing/?p=144485 http://www.opalesque.com/Commodities_Briefing/?p=144485#comments Wed, 23 Nov 2016 23:11:56 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144485 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144485>Article Link</a> The platinum/palladium discount is in focus this week, with palladium creeping closer to platinum in dollar-terms, although parity is unlikely near-term, according to sources. As of 1005 GMT Wednesday morning, palladium was spot bid at $742/oz with platinum at $938/oz. (more…)

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Crude oil may surge to $50 if Opec clinches deal, or slip to $40 if it fails http://www.opalesque.com/Commodities_Briefing/?p=144471 http://www.opalesque.com/Commodities_Briefing/?p=144471#comments Tue, 22 Nov 2016 23:25:11 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144471 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144471>Article Link</a> Russia is strongly backing the cartel and said it is ready to support an Opec decision. It sees a big chance of the cartel agreeing on the terms of a freeze by November 30, 2016, at its meeting scheduled in Vienna. (more…)

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How Opec Deal Talk is Driving Oil and Commodity Prices http://www.opalesque.com/Commodities_Briefing/?p=144470 http://www.opalesque.com/Commodities_Briefing/?p=144470#comments Tue, 22 Nov 2016 23:24:52 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144470 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144470>Article Link</a> Oil surged for a third day on signs OPEC members have made progress toward finalizing a deal to cut output. January futures rose as much as 1.5 percent in New York after the December contract expired 3.9 percent higher Monday. (more…)

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OPEC’s big three battle for oil market share until the bitter end http://www.opalesque.com/Commodities_Briefing/?p=144469 http://www.opalesque.com/Commodities_Briefing/?p=144469#comments Tue, 22 Nov 2016 23:24:31 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144469 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144469>Article Link</a> If oil prices are going to rebound, a few countries that have spent two years trying to edge each other out of crude markets will have to learn to cooperate. (more…)

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Gold prices extend rebound to a second-straight session http://www.opalesque.com/Commodities_Briefing/?p=144466 http://www.opalesque.com/Commodities_Briefing/?p=144466#comments Tue, 22 Nov 2016 23:23:32 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144466 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144466>Article Link</a> Gold prices extended their rebound from nine-month lows to score back-to-back gains on Tuesday as the rally in the U.S. dollar stalled. Gold has been “hit pretty hard in the last couple of weeks and…is stabilizing and base building just as [the U.S. dollar] has become exhausted and has started to level off,” Colin Cieszynski, chief market analyst at CMC Markets, told MarketWatch. (more…)

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TDS: Any Dip Below $1,200/Oz Gold ‘Should Be Bought’ http://www.opalesque.com/Commodities_Briefing/?p=144465 http://www.opalesque.com/Commodities_Briefing/?p=144465#comments Tue, 22 Nov 2016 23:23:18 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144465 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144465>Article Link</a> TD Securities does not anticipate a complete collapse in gold and suggests any price dips below the $1,200-an-ounce level “should be bought.” Gold tumbled over the last two weeks on a higher U.S. dollar, steepening yield curve and expected rise in so-called carry costs, TDS says. (more…)

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Steel and its raw materials rally again http://www.opalesque.com/Commodities_Briefing/?p=144461 http://www.opalesque.com/Commodities_Briefing/?p=144461#comments Tue, 22 Nov 2016 23:21:51 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144461 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144461>Article Link</a> Prices of steel and its raw materials soared to hit their trade limits in China on Tuesday as investors returned to the market to pick up sold-off commodities, but a shaky demand outlook suggests the gains would again be fleeting. (more…)

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Analysts bearish on oil price despite Opec deal hopes http://www.opalesque.com/Commodities_Briefing/?p=144448 http://www.opalesque.com/Commodities_Briefing/?p=144448#comments Mon, 21 Nov 2016 23:17:08 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144448 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144448>Article Link</a> Growing hopes for an Opec deal on production has helped the oil price continue its rebound after hitting three-month lows last week. Iran, one of the most stubbornly resistant members of the 14-nation cartel, has been offered an exemption from export cuts so long as it agrees to “at least cap production” at its pre-international sanctions level, Reuters reports. (more…)

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Russians, Chinese Supporting Gold Price http://www.opalesque.com/Commodities_Briefing/?p=144444 http://www.opalesque.com/Commodities_Briefing/?p=144444#comments Mon, 21 Nov 2016 23:15:55 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144444 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144444>Article Link</a> Gold threatened to breach the $1,200 level on Friday before rebounding. The sentiment was helped by word that the Russian central bank added 1.3 million ounces to reserves in October and that was before the price drop. The Chinese and Russians have been supporting the market below $1,250 this month, which is helping to offset the large futures and ETF liquidation. (more…)

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Gold Prices Plummeting to $1,200: Will Selloff Continue? http://www.opalesque.com/Commodities_Briefing/?p=144443 http://www.opalesque.com/Commodities_Briefing/?p=144443#comments Mon, 21 Nov 2016 23:15:35 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144443 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144443>Article Link</a> The conventional wisdom had gold prices skyrocketing in the immediate aftermath of the U.S. presidential election, which put Donald Trump into the White House. But that hasn’t been the case, with gold future sliding through November, with two consecutive weekly price declines leading up to November 19. Last week, December gold futures slid by $7.60, to just over $1,200 per ounce - a nine-month low. (more…)

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Non-oil commodity prices on the move http://www.opalesque.com/Commodities_Briefing/?p=144431 http://www.opalesque.com/Commodities_Briefing/?p=144431#comments Sun, 20 Nov 2016 23:44:55 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144431 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144431>Article Link</a> The possible implications of a Trump presidency in the United States are spurring notable movements in other commodities apart from oil. Copper, in particular, has put in a stellar showing. Prices soared to a 17-month high following the Nov 8 election, and were up 18.6 per cent as at last Friday since the start of the year. (more…)

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Saudia Arabia and the Oil Pricing Wars of the Middle East http://www.opalesque.com/Commodities_Briefing/?p=144428 http://www.opalesque.com/Commodities_Briefing/?p=144428#comments Sun, 20 Nov 2016 23:44:14 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144428 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144428>Article Link</a> Regional competition and the lack of a cooperation strategy with its neighbors are compounding Saudi Arabia’s inability to act as an oil price setter. The 70 percent drop in oil prices from their all-time highs in 2014 to the current lows of an average of $47 dollars per barrel is severely affecting all hydrocarbon producers, but especially Saudi Arabia. (more…)

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Oil may rise to $55 if all producers cooperate: Iran http://www.opalesque.com/Commodities_Briefing/?p=144425 http://www.opalesque.com/Commodities_Briefing/?p=144425#comments Sun, 20 Nov 2016 23:43:32 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144425 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144425>Article Link</a> Iranian Oil Minister Bijan Zanganeh expressed optimism on Saturday about an upcoming OPEC meeting and said crude prices could jump to $55 a barrel if an agreement is reached and non-OPEC producers cooperate. (more…)

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Gold’s Next Stop: $1,000 Per Ounce? http://www.opalesque.com/Commodities_Briefing/?p=144423 http://www.opalesque.com/Commodities_Briefing/?p=144423#comments Sun, 20 Nov 2016 23:43:01 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144423 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144423>Article Link</a> While we expected additional weakness in Gold and gold stocks (weeks ago) we did not quite expect the kind of selling the sector experienced in the wake of Donald Trump’s election victory. (more…)

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Where Is the Gold Price Headed? Three Views http://www.opalesque.com/Commodities_Briefing/?p=144421 http://www.opalesque.com/Commodities_Briefing/?p=144421#comments Sun, 20 Nov 2016 23:42:23 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144421 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144421>Article Link</a> Gold has fallen by more than 5% since Election Day, to $1,209 an ounce, although it’s poised to end 2016 sharply higher than its year-end 2015 close of $1,060 an ounce. Where will the yellow metal go next? (more…)

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Copper prices rise nearly 20% in one month http://www.opalesque.com/Commodities_Briefing/?p=144419 http://www.opalesque.com/Commodities_Briefing/?p=144419#comments Sun, 20 Nov 2016 23:41:54 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144419 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144419>Article Link</a> Copper stood out among the hottest commodities in the past one month, as prices of the base metal surged nearly 20 per cent on hopes of improving demand from top consumer China and a steady decline in stocks at warehouses. (more…)

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Bumper rice harvests drag prices to decade-lows http://www.opalesque.com/Commodities_Briefing/?p=144391 http://www.opalesque.com/Commodities_Briefing/?p=144391#comments Wed, 16 Nov 2016 23:24:12 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144391 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144391>Article Link</a> Years of drought brought by the weather cycle El Nino to South and Southeast Asia, home to the world’s biggest rice traders, have given way once more to soaking rains, boosting harvests of the region’s major staple crop and sending prices tumbling to 10-year lows. (more…)

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IEA expects U.S. shale output rise if OPEC pushes oil to $60 http://www.opalesque.com/Commodities_Briefing/?p=144389 http://www.opalesque.com/Commodities_Briefing/?p=144389#comments Wed, 16 Nov 2016 23:23:43 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144389 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144389>Article Link</a> U.S. shale oil producers will increase their output if oil prices hit $60 a barrel, meaning OPEC will have to walk a fine line if it curtails production to prop up prices, the head of the International Energy Agency (IEA) said. (more…)

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Oil-Price Rally Undercut by Supply Data http://www.opalesque.com/Commodities_Briefing/?p=144386 http://www.opalesque.com/Commodities_Briefing/?p=144386#comments Wed, 16 Nov 2016 23:22:59 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144386 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144386>Article Link</a> Russian energy minister’s comments boost crude, but prices are dragged down by growing stockpiles. Crude oil settled lower after flipping between gains and losses Wednesday, as renewed optimism that major oil producers could agree to scale back production competed with data showing that crude supplies are still swelling. (more…)

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BMI revises gold price forecast for 2017 to $1 300/oz http://www.opalesque.com/Commodities_Briefing/?p=144383 http://www.opalesque.com/Commodities_Briefing/?p=144383#comments Wed, 16 Nov 2016 23:22:14 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144383 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144383>Article Link</a> BMI Research has revised its forecast gold price for 2017 downwards to $1 300/oz, from the previously anticipated $1 400/oz. This, after Republican candidate Donald Trump was elected the next President of the US, resulting in a sharp decline in gold prices. (more…)

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Gold Prices Give Up Gains as Dollar Strengthens http://www.opalesque.com/Commodities_Briefing/?p=144380 http://www.opalesque.com/Commodities_Briefing/?p=144380#comments Wed, 16 Nov 2016 23:21:22 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144380 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144380>Article Link</a> Metal had been as $1,230 a troy ounce earlier in session; silver also loses ground. Investors have hammered the metal in recent weeks, as better economic data made a December rate increase by the Federal Reserve more likely and political uncertainty faded after U.S. presidential elections. (more…)

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Copper Rebound Needs More Than Donald Trump, Freeport Says http://www.opalesque.com/Commodities_Briefing/?p=144377 http://www.opalesque.com/Commodities_Briefing/?p=144377#comments Wed, 16 Nov 2016 23:20:17 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144377 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144377>Article Link</a> The head of Freeport-McMoRan Inc. says it will take more than Donald Trump to keep copper rallying. “In terms of being a long-term driver of copper prices, it will have an impact but not a huge impact,” Richard Adkerson, chief executive officer of the world’s largest publicly traded copper miner, said. (more…)

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Oil prices soar six percent on renewed hopes of OPEC output deal http://www.opalesque.com/Commodities_Briefing/?p=144361 http://www.opalesque.com/Commodities_Briefing/?p=144361#comments Tue, 15 Nov 2016 23:14:00 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144361 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144361>Article Link</a> Oil prices jumped 6 percent on Tuesday, with U.S. crude notching its biggest daily percentage gain in seven months, on renewed expectations that OPEC will agree later this month to reduce a global supply glut. (more…)

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Copper Joins Hot Commodity Club as Chinese Punters Top Trump http://www.opalesque.com/Commodities_Briefing/?p=144356 http://www.opalesque.com/Commodities_Briefing/?p=144356#comments Tue, 15 Nov 2016 23:12:50 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144356 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144356>Article Link</a> After shaking up iron ore, steel and coal futures this year, Chinese investors have taken on copper. The metal used in cables and wiring jumped 11 percent last week, the most since 2011, as President-elect Donald Trump’s pledge to spend as much as $1 trillion on infrastructure boosted the outlook for demand. But the impetus for the surge probably had its origins elsewhere, namely in China. (more…)

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Gold Price Should Go Higher On Global Risks and Trump – Capital Economics http://www.opalesque.com/Commodities_Briefing/?p=144355 http://www.opalesque.com/Commodities_Briefing/?p=144355#comments Tue, 15 Nov 2016 23:12:31 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144355 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144355>Article Link</a> The gold price should rise in the medium and long term on global risks and the Trump Presidency, according to leading research consultancy Capital Economics. (more…)

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Palladium Prices at Their Highest in More Than Five Weeks http://www.opalesque.com/Commodities_Briefing/?p=144352 http://www.opalesque.com/Commodities_Briefing/?p=144352#comments Tue, 15 Nov 2016 23:11:45 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144352 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144352>Article Link</a> Precious metal gets a boost from hopes for stronger U.S. auto sales. Palladium prices on Tuesday rose to their highest in more than five weeks, bolstered by hopes of stronger auto sales in the U.S. (more…)

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Commodity prices show global recovery may be on the horizon http://www.opalesque.com/Commodities_Briefing/?p=144341 http://www.opalesque.com/Commodities_Briefing/?p=144341#comments Tue, 15 Nov 2016 00:31:11 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144341 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144341>Article Link</a> In a major shift in economic trends, prices of raw materials started surging in October, possibly signaling that emerging economies are finally regaining strength after going through a distinctly rough patch. The shift may be behind the recent stock market rally and the jump in long-term interest rates in the U.S. (more…)

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No OPEC deal could see oil price fall to $30 http://www.opalesque.com/Commodities_Briefing/?p=144335 http://www.opalesque.com/Commodities_Briefing/?p=144335#comments Tue, 15 Nov 2016 00:28:48 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144335 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144335>Article Link</a> Jeremy Baker, commodity and alternative investment product manager at Vontobel, has warned the price of Brent crude could fall to $30 a barrel if OPEC’s proposed deal to limit oil supply falls through. (more…)

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OPEC Expects Crude Oil Prices to Hit $60 by 2020 http://www.opalesque.com/Commodities_Briefing/?p=144334 http://www.opalesque.com/Commodities_Briefing/?p=144334#comments Tue, 15 Nov 2016 00:28:31 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144334 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144334>Article Link</a> The EIA (U.S. Energy Information Administration) estimates that crude oil supply could outstrip demand by 730,000 bpd (barrels per day) in 1Q17. High US crude oil, gasoline, and distillate inventories, the strengthening dollar, and rising US crude oil rigs could also pressure crude oil prices. (more…)

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Are Low Oil Prices Good for the Economy? http://www.opalesque.com/Commodities_Briefing/?p=144333 http://www.opalesque.com/Commodities_Briefing/?p=144333#comments Tue, 15 Nov 2016 00:28:12 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144333 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144333>Article Link</a> Some say yes because low prices give consumers more money and cut manufacturing costs. Others say the damage to the oil sector cancels out the benefits. Oil prices have been on a wild ride lately. (more…)

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Oil rebounds from three-month lows on renewed hopes for OPEC cut http://www.opalesque.com/Commodities_Briefing/?p=144332 http://www.opalesque.com/Commodities_Briefing/?p=144332#comments Tue, 15 Nov 2016 00:27:50 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144332 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144332>Article Link</a> Oil prices were largely steady on Monday, rebounding from three-month lows, on a report saying that OPEC members were seeking to resolve their differences on a deal to cut production ahead of a meeting later this month. (more…)

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Copper Edges Higher on Demand Optimism http://www.opalesque.com/Commodities_Briefing/?p=144325 http://www.opalesque.com/Commodities_Briefing/?p=144325#comments Tue, 15 Nov 2016 00:25:51 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144325 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144325>Article Link</a> Copper prices rose Monday amid continued market optimism that a Trump presidency would boost infrastructure spending in the U.S. Copper for December delivery settled up 0.5% at $2.5210 a pound on the Comex division of the New York Mercantile Exchange, closing near its highest level in more than a year. (more…)

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Why Gold Will Drop Below $1000 In 2017 http://www.opalesque.com/Commodities_Briefing/?p=144315 http://www.opalesque.com/Commodities_Briefing/?p=144315#comments Mon, 14 Nov 2016 00:22:41 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144315 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144315>Article Link</a> As the price of gold and silver came down sharply, many investors are asking what the future price of gold will be. Although we do not pretend to have a crystal ball, we observe sufficient signals in the charts to make a make a call about the future price of gold into 2017. (more…)

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Global food prices to decline on bumper output forecasts http://www.opalesque.com/Commodities_Briefing/?p=144314 http://www.opalesque.com/Commodities_Briefing/?p=144314#comments Mon, 14 Nov 2016 00:22:30 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144314 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144314>Article Link</a> Global food commodities prices are likely to remain subdued during the rest of the current calendar and the next year following a sharp upwards revision in their output forecasts by the global monitoring agency the Food and Agricultural Organisation (FAO) of the United Nations. (more…)

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Oil Is Heading Back To $20s http://www.opalesque.com/Commodities_Briefing/?p=144312 http://www.opalesque.com/Commodities_Briefing/?p=144312#comments Mon, 14 Nov 2016 00:21:50 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144312 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144312>Article Link</a> Oil bulls had a good ride in the last eight months. The black gold rallied, from mid-$20s in January to the mid-$50s in late October. But economic fundamentals have turned bumpy for oil bulls in the last couple of weeks, with oil heading towards the $40-mark rather than the $60-mark as some had expected. (more…)

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OPEC plays the chicken game while oil prices fall: Kemp http://www.opalesque.com/Commodities_Briefing/?p=144309 http://www.opalesque.com/Commodities_Briefing/?p=144309#comments Mon, 14 Nov 2016 00:20:42 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144309 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144309>Article Link</a> OPEC members are making the task of oil market rebalancing harder by maximizing their production ahead of a ministerial conference at the end of November. (more…)

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Copper hammers above $6,000 on Trump, China http://www.opalesque.com/Commodities_Briefing/?p=144305 http://www.opalesque.com/Commodities_Briefing/?p=144305#comments Mon, 14 Nov 2016 00:19:15 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144305 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144305>Article Link</a> Base metal prices soared this week, with copper forging above $6,000 per tonne as Donald Trump’s election victory sparked hopes of booming demand to meet the president-elect’s pledge on infrastructure spending. (more…)

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China coal fumble casts doubt on its global commodities pricing goal http://www.opalesque.com/Commodities_Briefing/?p=144303 http://www.opalesque.com/Commodities_Briefing/?p=144303#comments Mon, 14 Nov 2016 00:18:36 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144303 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144303>Article Link</a> Unprecedented steps by Beijing to snuff out a months-long rally in coal prices are casting fresh doubts on China’s drive to become a global price-setting hub for commodities worth trillions of dollars. The world’s top consumer of many raw materials has been pushing to boost its influence on pricing of everything from iron ore to oil, mainly through steps such as promoting Chinese futures contracts as regional or global benchmarks. (more…)

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World food prices edge up in October - FAO http://www.opalesque.com/Commodities_Briefing/?p=144293 http://www.opalesque.com/Commodities_Briefing/?p=144293#comments Fri, 11 Nov 2016 00:47:42 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144293 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144293>Article Link</a> World food prices edged up in October to continue an upward trend since January, the United Nations food agency said on Thursday, adding that prospects for global cereal output had improved. (more…)

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EIA: Brent crude oil price to go over $50 in 2017 http://www.opalesque.com/Commodities_Briefing/?p=144291 http://www.opalesque.com/Commodities_Briefing/?p=144291#comments Fri, 11 Nov 2016 00:47:12 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144291 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144291>Article Link</a> The US Energy Information Administration’s (EIA) Short-Term Energy Outlook forecasts that North Sea Brent crude oil prices will average $43 per barrel in 2016 and $51/b in 2017. EIA expects that West Texas Intermediate (WTI) prices will average $43/b in 2016 and $50/b in 2017. (more…)

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The ultimate reason for owning gold might be shifting after Trump’s win http://www.opalesque.com/Commodities_Briefing/?p=144288 http://www.opalesque.com/Commodities_Briefing/?p=144288#comments Fri, 11 Nov 2016 00:46:21 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144288 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144288>Article Link</a> Amid growing expectations of rising inflation or even promises of more economic stimulus, analysts seem divided as to how gold will perform in the longer term and the reasons for owning the precious metal in the first place. (more…)

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Trump’s Victory And Gold Prices: What Does It Mean For Precious Metals? http://www.opalesque.com/Commodities_Briefing/?p=144287 http://www.opalesque.com/Commodities_Briefing/?p=144287#comments Fri, 11 Nov 2016 00:46:06 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144287 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144287>Article Link</a> Donald Trump pulled off an upset victory Tuesday for the US Presidency, overcoming Hillary Clinton, who despite recent polls showed that the former Senator had a sizeable lead heading into the election. Yet by the end of the count, it was Trump who captured the required 270+ electoral college votes to win. (more…)

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Trump’s Spending & Inflation ‘Look Positive’ for Gold Price, But 2011 Downtrend Holds http://www.opalesque.com/Commodities_Briefing/?p=144286 http://www.opalesque.com/Commodities_Briefing/?p=144286#comments Fri, 11 Nov 2016 00:45:48 +0000 VRS http://www.opalesque.com/Commodities_Briefing/?p=144286 <br> <a href=http://www.opalesque.com/Commodities_Briefing/?p=144286>Article Link</a> Gold price gains of 4.5% overnight Tuesday were all erased by the close of London trade yesterday, with a $20 rebound then fading on Thursday as world stock markets extended their rally following Donald Trump’s surprise victory in the US presidential election. (more…)

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