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Commodities Briefing - Archive | June, 2011

IMF: US debt level threatens global recovery

Posted on 30 June 2011 by VRS  |  Email |Print

Barack ObamaThe International Monetary Fund has warned the US to raise the limit on its debt soon or risk causing a “severe shock” to the fragile global economy.
The US Treasury has already hit its legal debt ceiling of $14.3tn but lawmakers have failed to agree on increasing the limit. “The federal debt ceiling should be raised expeditiously to avoid a severe shock to the economy and world financial markets,” the IMF said in its annual report on US economic policy……………………………………….Full Article: Source

Right time to get into commodities, says Barclays Capital

Posted on 30 June 2011 by VRS  |  Email |Print

The world seems set to enter a period of slower growth and higher inflation and investors would do well to gain some direct exposure to commodity markets, said Barclays Capital MD Kevin Norrish on Wednesday.
Speaking at a Barclays commodities outlook media briefing, Norrish said that commodities had a different risk/reward profile to other asset classes and tend to be a good hedge for inflation. Looking at supply and demand fundamentals, Norrish favoured copper, oil, gold and corn as commodity investment decisions……………………………………….Full Article: Source

Invest in commodities rather than producers

Posted on 30 June 2011 by VRS  |  Email |Print

Investing directly in commodities through indexes gives an investor more direct exposure to commodity prices than investing in the producers, whose returns were more aligned with equities.
Investment in commodities rather than companies that produce them is a better bet for the investor wanting to capitalise on the upturn in commodity prices, Barclays Capital managing director and head of commodities research Kevin Norrish said on Wednesday……………………………………….Full Article: Source

Properly assessing commodities risks

Posted on 30 June 2011 by VRS  |  Email |Print

In light of the recent falls in silver and oil prices, Ron Bewley considers the case for investing directly in commodities.
Commodity prices drive our dollar, our economy and the performance of our resource stocks. Gold prices recently hit record highs – as did silver – and many other commodity prices have also been booming. But silver and oil prices fell sharply at the beginning of May. Is this the end of the commodity price cycle? Should investors get in or out of direct exposure to commodities? Should investors keep a weather eye on commodity prices to guide their equity exposure?………………………………………Full Article: Source

OPEC calls on IEA to avoid oil releases

Posted on 30 June 2011 by VRS  |  Email |Print

OPEC’s top official said Wednesday he wants to mend fences with the International Energy Agency and avoid a repeat of a release of oil from stockpiles that has strained consumer-producer relations.
Abdalla Salem El-Badri, secretary general of the Organization of Petroleum Exporting Countries, said he hoped to set up a sit-down meeting with IEA Executive Director Nobuo Tanaka to discuss better coordination between consumers and producers. “We don’t want this to be repeated,” Mr. El-Badri said of the IEA’s controversial release……………………………………….Full Article: Source

In theory: Time for Opec members to band together

Posted on 30 June 2011 by VRS  |  Email |Print

Throughout its history, the oil bloc has been through difficulties and problems, but never has it reached such levels of disagreement that it reached recently
Speculation about the potential disintegration of the Organisation of Petroleum Exporting Countries (Opec) has been growing over the last few months. When Opec was founded in Baghdad, Iraq, 50 years ago its aim was to manage the supply of oil and set oil prices on the world market in order to ensure stability and avoid fluctuations that may affect the economies of both exporting and importing countries……………………………………….Full Article: Source

UAE says OPEC should have hiked oil production

Posted on 30 June 2011 by VRS  |  Email |Print

The United Arab Emirates on Wednesday criticised OPEC’s decision to not hike oil production and said it doubted the effectiveness of major consumers drawing down their strategic reserves.
“We very much regret OPEC’s decision (earlier this month) to not increase production,” UAE Foreign Minister Sheikh Abdullah bin Zayed bin Sultan Al Nahyan told a joint news conference with Swedish Foreign Minister Carl Bildt……………………………………….Full Article: Source

Oil recovers post-IEA decline as traders reassess fundamentals

Posted on 30 June 2011 by VRS  |  Email |Print

WTI has recovered the entire decline that followed the IEA’s surprise announcement to release 60 mmbbl of strategic oil reserves.
The Department of Energy reported this morning that in the week ending June 24, 2011, U.S. crude oil inventories decreased by 4.4 million barrels, gasoline inventories decreased by 1.4 million barrels, distillate inventories increased by 0.3 million barrels and total petroleum inventories decreased by 0.3 million barrels……………………………………….Full Article: Source

Ambush in the oil market

Posted on 30 June 2011 by VRS  |  Email |Print

The most significant development in the financial markets during my recent sojourns in Europe was the International Energy Agency’s shocking release of strategic petroleum reserves. Unprecedented during peacetime, the move caught oil traders completely by surprise and prompted an immediate $6 drop in crude prices.
The howls of leaked information and insider trading were so loud that they could be heard in the distant recesses of the Swiss Alps. This is what you usually get when several leading players lose a huge chunk of money overnight……………………………………….Full Article: Source

Gold prices hit $1,650 per troy ounce by the end of June 2012

Posted on 30 June 2011 by VRS  |  Email |Print

Gold is forecast to trade at $1,650 per troy ounce by the end of June 2012 on the back of sustained investor and central-bank demand amid sigs of growing jewellery off-take by China and India, precious metal analysts said.
Bank Sarasin in its latest analysis said in the short- to medium-term, global investor and central-bank demand would support gold prices, underpinned by Asian demand for jewellery……………………………………….Full Article: Source

Gold price to reach $1700/oz

Posted on 30 June 2011 by VRS  |  Email |Print

With gold prices hovering around the $1500-per-ounce-mark, experts believe that a surge in prices in the next six months is likely, with prices reckoned to increase by about 15 per cent to reach $1700/oz by the end of the year.
Despite the fact that the price of the yellow metal has gone up by just 5.5 per cent since the beginning of this year, M.R. Raghu, Senior Vice-President-Research at Kuwait Financial Centre (Markaz), believes that “gold will have another good year in 2011.”………………………………………Full Article: Source

No $2,000 gold without QE3, BofA-Merrill says

Posted on 30 June 2011 by VRS  |  Email |Print

The gold bugs may be in for some disappointment if the U.S. economy’s soft patch real is temporary and Federal Reserve Chairman Ben Bernanke doesn’t have to conjure up another few hundred billion dollars worth of bond purchases.
The commodities research team at Bank of America Merrill Lynch has been on the gold bandwagon since setting a $1,500 price target in 2008, but commodity strategist Francisco Blanch said Tuesday that the best gains are in the rearview mirror and a cyclical peak is likely in the cards as the U.S. interest rate cycle starts to change……………………………………….Full Article: Source

Global commodities guru Jim Rogers says that silver remains the hottest commodity these days

Posted on 30 June 2011 by VRS  |  Email |Print

Global commodities guru Jim Rogers says that silver remains the hottest commodity these days. Despite the current downtrend in commodities in the recent weeks, the bull market in the sector is still intact, Rogers said.
In an interview to IndexUniverse.com, Rogers who is regarded as the most authentic voice on commodities investing in the world said that the downtrend in commodities is nothing unusual. “This is the way the world works. If you look at oil, for instance, it has gone down over 50% three or four different times since 1998. That’s what markets do, and they will continue to do that,” Rogers pointed out……………………………………….Full Article: Source

What on earth happened to the platinum sector?

Posted on 30 June 2011 by VRS  |  Email |Print

There’s lots of talk of how regulatory and legislative uncertainty, the threat of nationalisation and the strength of the rand are preventing South Africa’s mining industry from participating fully in the latest chapter of the super cycle (not a fashionable term any more but there, I’ve said it).
But of all the lost opportunities, what on earth happened to the platinum sector? In the words of Philip Larkin, the British poet, things have long fallen wide……………………………………….Full Article: Source

Total refined platinum supply will hit 7.4m ounces in 2011-CPM Group

Posted on 30 June 2011 by VRS  |  Email |Print

Precious metals consultants CPM said total global platinum supply rose during 2010, as platinum mine supply increased for the first time in three years.
In the CPM Group’s Platinum Group Metals Yearbook 2011 made public Tuesday, CPM said global platinum mine production is estimated to have increased 2.1% to 6,469,000 ounces in 2010, much of the increased mine supply being driven by increased production at South African mines……………………………………….Full Article: Source

The future of thorium as nuclear fuel

Posted on 30 June 2011 by VRS  |  Email |Print

Thorium is one of the five abundant, long-lived, naturally-occurring radioactive elements in the Earth’s crust. The others are potassium, radon, radium, and uranium. There are several other naturally-occurring radioactive elements but they are rare and/or have short half-lifes.
Potassium, thorium, and uranium are the important internal fuels that cause the Earth’s interior to be hot, magmas and volcanoes to exist, the crust to float on the mantle, tectonic plates to move, the outer iron core to be liquid, and the inner iron core to be solid……………………………………….Full Article: Source

Zinc consolidation likely as prices rise

Posted on 30 June 2011 by VRS  |  Email |Print

Zinc producers are betting on higher prices in coming years, bringing a possible round of consolidation as miners jockey to reap the benefits.
Even though experts predict a surplus of zinc this year, they expect prices to rise within the next two years, and refiners, mid-sized miners and major producers are already looking for juniors to snap up……………………………………….Full Article: Source

Scotiabank’s Mohr forecasts copper demand rebound in second half of 2011

Posted on 30 June 2011 by VRS  |  Email |Print

Moderately lower base metals, molybdenum, uranium and silver prices more than offset stronger gold, potash and cobalt prices in May, lowering the Scotiabank Commodity Price Index by 2.3% last month.
LME copper prices eased from US$4.30 per pound in April to $4.05 per pound in May “and are still exceptionally lucrative at US$4.08 in late June,” noted Scotiabank economist Patricia Mohr……………………………………….Full Article: Source

UK watchdog to look again at metals warehouses

Posted on 30 June 2011 by VRS  |  Email |Print

The UK anti-competition watchdog said on Wednesday it will take another look at activity by large traders on the London Metal Exchange that also own warehouses, after lawmakers again raised concerns.
A parliamentary committee on Wednesday said it had alerted the Office of Fair Trading (OFT) to more concerns that the same firms that trade metals are able to hold large amounts of metal stored in warehouses monitored by the LME, the world’s top metals exchange……………………………………….Full Article: Source

China’s first precious metals spot exchange opens in ‘silver city’

Posted on 30 June 2011 by VRS  |  Email |Print

China’s first precious metals spot exchange began trading Tuesday in Chengzhou in Hunan Province. The Hunan South Rare Precious Metals Exchange is based in China’s silver capital in Yongxing County. Its first four products to be listed are silver, bismuth, indium and tellurium.
Launched with a total investment of 260 million yuan (US$40.2 million), the exchange will offer long-term electronics transactions including spot trading, precious metal products and raw materials, and spot deferred transactions on up to 18 precious metals products……………………………………….Full Article: Source

Rare earth metals ETF up as Vale speeds entry into market

Posted on 30 June 2011 by VRS  |  Email |Print

The Market Vectors Rare Earth/Strategic Metals ETF (REMX) is up 1.3% today as base metals futures join the climb with oil and equities. Molycorp (MCP) is ahead by 1.8%, Lynas Corp. (LSDY) is up 4% and Thompson Creek (TC) has gained 2.1% so far.
Also giving REMX a boost is a report that Brazilian mining giant Vale SA (VALE) is speeding up studies on a planned entry into the mining of rare earths. The news came from Brazilian business newspaper Valor Economico, citing Vale’s Chief Executive Officer Murilo Ferreira……………………………………….Full Article: Source

Selecting commodities-futures-based ETPs

Posted on 30 June 2011 by VRS  |  Email |Print

The past several years have seen the rise of proliferative interest in commodities as an asset class. Given the recent crash and the Fed’s policy response, the cascade of long-only investment demand that poured into the space was born of several needs that commodities do a good job of satisfying.
Historically, commodities have shown to provide diversification away from the correlation of traditional asset classes. On that basis, commodities were looked to as an oasis of diversification following the downturn……………………………………….Full Article: Source

Discovering the hidden risks of ETFs

Posted on 30 June 2011 by VRS  |  Email |Print

Mike Deverell of Equilibrium Asset Management says exchange traded funds have brought consumers huge benefits, but threaten to undermine the market.
Exchange traded funds (ETFs) have experienced a huge boom over the past few years, with the market now being worth more than £1 trillion. The rise of ETFs has been positive in many ways, but the Financial Services Authority and Bank of England have expressed concern that many investors do not understand the risks involved. There is even some speculation that the next big mis-selling scandal could involve these funds……………………………………….Full Article: Source

Asian currencies strengthen on speculation borrowing costs will increase

Posted on 30 June 2011 by VRS  |  Email |Print

Asian currencies advanced for a second day, led by South Korea’s won and Malaysia’s ringgit, on speculation regional policy makers will boost interest rates to curb price pressures.
Consumer-price inflation in South Korea will be about 4 percent this year, compared with the government’s target of 3 percent, the presidential office said yesterday. Taiwan’s central bank will lift the benchmark interest rate by 12.5 basis points to 1.875 percent tomorrow, according to all 18 economists surveyed by Bloomberg……………………………………….Full Article: Source

Australia in CO2 compensation deal on coal/power: report

Posted on 30 June 2011 by VRS  |  Email |Print

Australia’s Green and independent lawmakers negotiating a carbon price scheme to tackle climate change with the government have agreed to compensate the coal industry and power generators, with a deal to be unveiled in the next two weeks, a newspaper said on Thursday.
While the Greens and the government’s main climate adviser were against compensating most coal miners and coal-powered electricity generators, all sides had now agreed to buffer both sectors, The Age newspaper said, without citing sources……………………………………….Full Article: Source

The carbon price support: Driving households into fuel poverty

Posted on 30 June 2011 by VRS  |  Email |Print

Britain is abundant in natural sources of energy, particularly wind, wave and tidal. As North Sea oil and gas production declines and we are driven to import more fuel to provide heating and electricity, we should absolutely be exploiting these resources so that we are less vulnerable to price shocks and more energy secure in the future.
A new tax called the Carbon Price Support (CPS), announced by the government in its recent Budget is intended to further this aim by propping up the price utilities companies pay to produce energy from fossil fuels……………………………………….Full Article: Source

Ultimate guide to sugar investing: Sweet commodity has global appeal

Posted on 30 June 2011 by VRS  |  Email |Print

Sugar has been in production since ancient history. When the crop was first discovered, it was not plentiful, or cheap to grow and harvest, so many populations used honey as a sweetener instead. However, during various agricultural revolutions, and major improvements in farming techniques and technology, sugar became a widely used commodity.
As far as food is concerned, the term “sugar” most often refers to sucrose, which comes from sugarcane or sugar beet. Though this sweet crop is most known for giving our food a more enjoyable flavor, it has a wealth of other uses, including lightening skin discoloration and alternative fuels……………………………………….Full Article: Source

Who should an investor believe: The natural gas industry or the New York Times?

Posted on 30 June 2011 by VRS  |  Email |Print

If you follow the energy industry or the public equity markets I’m sure that you came across discussion of The New York Times article which basically suggests that the shale gas boom is nothing more than a giant ponzi scheme.
When I read the article I was shocked at how much attention something with so little substance had received. The crux of the piece was that the article was providing shocking e-mails from people inside the industry. The author clearly had an agenda before writing the article and went looking for anything he could find to support that agenda……………………………………….Full Article: Source

Commodity prices saw ‘modest’ decline in May: Scotiabank

Posted on 29 June 2011 by VRS  |  Email |Print

Patricia MohrPrices for Canada’s main export commodities were down in May but not as much as might have been expected given the volatility of markets that month, according to a monthly index.
The Bank of Nova Scotia said Tuesday its commodity price index fell a “modest” 2.6 per cent in May, while acknowledging that goods not subject to daily fluctuations on the open market proved more stable than exchange-traded materials……………………………………….Full Article: Source

Commodities midway through 20 pct correction

Posted on 29 June 2011 by VRS  |  Email |Print

Commodities are due to be weak over the next several months, having completed about half of an expected 20 percent correction as investors unwind positions built up during stimulus programmes, UBS said on Tuesday.
“We’ve done about 10 percent on copper… so we reckon that we’re about halfway there,” global commodity analyst Julien Garran told a briefing. The 19-commodity CRB index has also shed about 10 percent since hitting a peak on May 2……………………………………….Full Article: Source

Humbling the commodity forecasters

Posted on 29 June 2011 by VRS  |  Email |Print

There is no evidence anyone can successfully predict commodity prices. Most forecasts seem to be adaptive — reacting to past price changes — rather than forward-looking, and therefore miss turning points.
There is no evidence any forecasters consistently get it more right than wrong. Forecasts can never be more than a baseline for planning and investing surrounded by significant uncertainty……………………………………….Full Article: Source

Forecasting commodity prices

Posted on 29 June 2011 by VRS  |  Email |Print

With commodity prices exhibiting wide fluctations over the past few years, it’s no wonder that many are interested in determining what procedure best forecasts. A recent New York Fed blog post by Jan Groen and Paolo Pesenti tackles this issue. In a horse race between various economic, time series, and futures-based approaches…
There is no obvious winner. Information from large panels of global economic variables can help, but their forecasting properties are by no means overwhelming. It all depends on the choice of the specific index and the forecasting horizon………………………………………Full Article: Source

Feeding China’s commodities dragon

Posted on 29 June 2011 by VRS  |  Email |Print

Chinese demand for commodities is racing ahead of production, leading to pricing inflation and demand-supply imbalances that could jeopardize the stability of the global supply chain, according to research firm Standard & Poor’s (S&P).
The strong Chinese demand for major commodities is not expected to ease off anytime soon, despite the government’s efforts to cool down the economy……………………………………….Full Article: Source

Merrill Lynch: IEA’s reserve release “too little, too late”

Posted on 29 June 2011 by VRS  |  Email |Print

The International Energy Agency’s latest strategic oil release came “too little, too late”, said Bank of America Merrill Lynch on Tuesday.
“The reserve release should come three months ago, when the crude prices didn’t start to hike.” said Francisco Blanch, head of BofA Merrill Lynch ’s Global Commodity Research at the company’s 2011 Mid-Year Review & Outlook Press Conference. Blanch was also afraid that IEA’s crude release of 60 million barrels would not be enough to hold back the rising energy prices in medium and long term……………………………………….Full Article: Source

Oil volatility to continue amid OPEC/IEA disagreement

Posted on 29 June 2011 by VRS  |  Email |Print

Commodities rebounded Tuesday after several days of selloffs. The front-month contract for WTI crude oil rose above 92, the highest in 2 days, while the equivalent Brent crude contract soared above 108. Disagreement between the IEA and the OPEC on oil fundamentals signals oil price movements will remain highly volatile in the near-term. The WTI- Brent crude spread has shown signs of widening again because much (50%) of IEA’s emergency stock release comes from Gulf Coast in the US.
Both the OPEC secretary general and the President said there’s no need for IEA’s stock……………………………………….Full Article: Source

OPEC slams IEA’s release of oil reserves

Posted on 29 June 2011 by VRS  |  Email |Print

Oil producing cartel OPEC has hit out at the International Energy Agency (IEA) for choosing to release strategic reserves of oil on to the market.
Following a meeting between OPEC and European Union officials in Vienna on Monday, secretary general Abdalla El-Badri said it sees “no reason” for the release……………………………………….Full Article: Source

Opec split threatens increase in Saudi oil production

Posted on 29 June 2011 by VRS  |  Email |Print

The International Energy Agency’s (IEA) attempts to bring down the oil price have sparked a war of words with Opec, the 12-country cartel that produces 40pc of the world’s crude ouput.
Opec is also divided between groups of members such as Saudi Arabia and Kuwait which would be happy with lower prices, and others such as Iran and Venezuela, which do not want to raise production and dampen prices……………………………………….Full Article: Source

Speculation behind high gas prices, report says

Posted on 29 June 2011 by VRS  |  Email |Print

Speculative commodities trading on Wall Street is significantly inflating prices at the gas pump, according to a new report by researchers at the University of Massachusetts, Amherst.
The report criticizes regulators for not restraining speculative energy trading and calls upon the Commodity Futures Trading Commission to finally put trading limits in place……………………………………….Full Article: Source

China opens oil field in Iraq

Posted on 29 June 2011 by VRS  |  Email |Print

China’s largest oil company has begun operations at Al-Ahdab oil field in Iraq, making the field the first major new area to start production in Iraq in 20 years, according to an official news report on Tuesday.
Operations began June 21, and the field is expected to produce three million tons of crude oil per year, reported China Daily, an official English-language newspaper. The oil field was discovered in 1979 and is believed to contain a billion barrels of crude……………………………………….Full Article: Source

China has its eye on Canada’s oil

Posted on 29 June 2011 by VRS  |  Email |Print

While the U.S. dithers with concerns about “dirty oil” from Alberta’s rich tar sands, energy-hungry China makes Ottawa an offer it might not refuse. Memo to Washington: Pipelines can run west as well as south.
When President Obama pledged to wean us off foreign oil, we hoped he didn’t mean our friendly ally to the north, Canada. Granted, it doesn’t have beaches like Rio, where we’re helping the Brazilians drill offshore, but we had hopes nonetheless……………………………………….Full Article: Source

Accumulate gold, invest in silver: Marc Faber

Posted on 29 June 2011 by VRS  |  Email |Print

Legendary economist and publisher of the Gloom, Boom and Doom report, who recently said that the world is flooded with US dollars and grossly underweight in gold has suggested investors to keep on accumulating gold.
Gold may continue to fall in the next three months but investors are better off accumulating the yellow metal, he told a Bloomberg Television interview. He said that he still favours gold and silver……………………………………….Full Article: Source

Investing in highly volatile gold and silver?

Posted on 29 June 2011 by VRS  |  Email |Print

Gold and silver are volatile and you would be risking your money if you were investing in them and thus - do not invest. Unless, you are even a slight student of the GFC. With even a slight knowledge of the causes of the financial crisis, you could turn the volume down on those assertions that the metals are volatile to a level near zero. These precious metals are safe investments, and here is why.
We are going to identify why the two precious metals are safe investments, although before moving forward, we must know this primary point - gold and silver are hedges against the GFC and their gains are reflections of global growth itself……………………………………….Full Article: Source

Buy into gold and silver stocks at $1500 gold, don’t liquidate

Posted on 29 June 2011 by VRS  |  Email |Print

Last week, gold reached above $1,540/ounce (oz.) as fears escalated over Greece defaulting on its sovereign debt, most of which is owed to European banks. One telling figure is that the risk of default is so high that the interest rate on two-year Greek bonds is about 29%.
Should we expect a continuing upward trend for gold throughout the rest of the year as Greece’s debt story and the fears of contagion play out in Europe?………………………………………Full Article: Source

Speculators increase bullish gold, silver positions, cut PGMs

Posted on 29 June 2011 by VRS  |  Email |Print

Speculators added to their bullish gold and silver U.S. futures and options positions, but cut exposure to the platinum group metals and copper, according to U.S. government data.
In the weekly Commodity Futures Trading Commission’s commitment of traders data released late Friday, fund-type traders built up their gold and silver net-long positions as noted in both the disaggregated and legacy reports……………………………………….Full Article: Source

The Indian love affair with gold and its global demand impact

Posted on 29 June 2011 by VRS  |  Email |Print

The Indian Gold market has reaffirmed its dominance in 2010 and will continue in 2011. Expect China to overtake the sub-continent in demand for gold. The love of gold in India goes far beyond a simple source of future profits. It is an expression of wealth, financial security and family stability. It also carries religious overtones.
Gold remains the wealth of the wife -men only inheriting assets. It represents her and her family’s financial security. It is difficult to make a distinction between investment and jewelry demand because in India, these two ideas are inseparable……………………………………….Full Article: Source

Is gold’s run coming to an end?

Posted on 29 June 2011 by VRS  |  Email |Print

For many investors, gold has been something of a life raft, keeping portfolios and retirement dreams afloat when all other investments seemed full of lead. But after hitting a five-week low on Monday, is gold no longer the salvation many have come to expect?
After 10 years of staggering gains, gold prices have suddenly hit the skids. The yellow metal has fallen more than $50 since late last week, and is now under $1,500 a troy ounce……………………………………….Full Article: Source

Global iron ore volume likely to swell

Posted on 29 June 2011 by VRS  |  Email |Print

Global volume of iron ore swaps may jump to 80 million tonnes by 2015, around four times last year’s level, as interest in the hedging tool rises, an industry official said on Tuesday.
“Taking today’s growth and applying it as a flat rate we’re looking at 80 million tonnes by 2015. This is how much potential we are seeing in this trade,” Gabrielle Richou, marketing director at Singapore-based Iron Ore and Steel Derivatives Association, told an industry conference………………………………………..Full Article: Source

Impala CEO: Platinum to range $1,600-$1,800/oz next 6 months

Posted on 29 June 2011 by VRS  |  Email |Print

The price of platinum will be volatile in the next six months and range between $1,600 and $1,800 a troy ounce, Impala Platinum CEO David Brown said Tuesday.
Prices will be volatile due to a combination of factors including problems in Greece, what appears to be a slowing in the U.S. economy after a burst of recovery, and signs that China’s growth will be a bit slower than previously expected……………………………………….Full Article: Source

The malleable market for global aluminum

Posted on 29 June 2011 by VRS  |  Email |Print

China’s massive production makes sense considering the country consumes the most aluminum. According to Jeremy Grantham of GMO, China uses 40% of the world’s aluminum as it rapidly develops its railway transportation, increasingly purchases automobiles and demands more energy.
Aluminum’s popularity around the world is well-known: The International Aluminum Institute boasts that the metal is the third-most abundant element on Earth and second-most used metal after iron……………………………………….Full Article: Source

Could ETFs blow up the market?

Posted on 29 June 2011 by VRS  |  Email |Print

Who doesn’t love exchange-traded funds? After all, these popular investment instruments give us easy access to broad collections of stocks, commodities and currencies — as well as exotic investment strategies that would be tough to set up on our own.
Plus, we can get in and out of ETFs quickly during the trading day, unlike with mutual funds. These conveniences help explain why ETFs have become wildly popular and are seen as a kind of investor’s paradise. They also explain why the money invested in ETFs more than tripled over five years to hit $1.3 trillion last year……………………………………….Full Article: Source

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