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Commodities Briefing - Archive | September, 2011

Are commodities still doing their job?

Posted on 30 September 2011 by VRS  |  Email |Print

When conducting experiments, scientists have to stay on guard for the phenomenon whereby simply looking at something changes what they’re looking at. Investors have to follow a similar warning: If enough people plow into a new sector of the financial markets, they can collectively change the way that sector performs — and not always for the better.
In a decade when the stock market has performed abominably, investors have searched for investments that can buck the flat-stock trend to provide positive returns……………………………………….Full Article: Source

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Commodities face ups and downs while economic time bomb ticks

Posted on 30 September 2011 by VRS  |  Email |Print

Market-traded commodities are about to close out one of their worst months ever, but the impact on Australia’s resources boom and its major players is still uncertain as Europe searches for a way out of its sovereign debt cul-de-sac. Crucially, the prices of Australia’s two most import export commodities, coking coal and iron ore, have not yet cracked.
Copper fell another 2.7 per cent on Wednesday night to extend its price dive in September to 23.9 per cent, and at about $US7000 a tonne it is more than 30 per cent below its 2011 high……………………………………….Full Article: Source

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Commodity ship rates fall as demand for Brazilian ore weakens

Posted on 30 September 2011 by VRS  |  Email |Print

The cost of hiring iron ore- carrying capesize ships fell a third day in London as demand declined for the vessels to ship the raw material to Asia from Brazil.
Rents for the vessels, which carry at least 150,000 metric tons of cargo, slid 2.4 percent to $27,445 a day, according to the Baltic Exchange in London today. The Baltic Dry Index, a wider measure of commodity transportation costs spanning smaller ships, also declined a third day, dropping 0.4 percent to 1,913 points. Capesize ships are also known by the industry as capes……………………………………….Full Article: Source

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A growth check from Dr Copper

Posted on 30 September 2011 by VRS  |  Email |Print

Is the sharp drop in the copper price an omen that the global economy is on the verge of a sharp slowdown? Overnight, copper – which is used in a wide range of consumer and capital goods, as well as in the construction industry – traded at the lowest levels we’ve seen so far in 2011.
This is a disturbing trend for those who see the copper price as the ultimate indicator of direction of the global economy. The red metal has such a good track record in predicting future business trends that it is frequently dubbed ‘Dr Copper’ – the commodity with the PhD in economics……………………………………….Full Article: Source

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Copper eyes 2012 record on taut supply - Trafigura

Posted on 30 September 2011 by VRS  |  Email |Print

Copper is set to print new records as soon as the second quarter of 2012 as top consumer China restocks, more than making up for softening demand from struggling economies in the West, a director at commodities heavyweight Trafigura said.
“I’m still a believer in the commodities supercycle. I don’t think that story has changed,” Simon Collins told Reuters in an interview on Thursday……………………………………….Full Article: Source

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Copper rout outpaces analysts focused on shortages: Commodities

Posted on 30 September 2011 by VRS  |  Email |Print

The biggest rout in copper since the global recession drove analysts to cut their price forecasts by 16 percent in a week as mounting concern about growth eroded expectations for supply shortages.
The metal may drop as much as 10 percent to $6,500 a metric ton by Dec. 31, according to the median in a Bloomberg survey of 16 analysts and traders. Their estimate was $7,773 a week ago. Speculators in U.S. futures are making the biggest wager on declining prices in more than two years, U.S. government data show……………………………………….Full Article: Source

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Chinese gold analysts say gold could rise to $2,000/oz in Q4

Posted on 30 September 2011 by VRS  |  Email |Print

The gold price has a chance of climbing to $2,000/oz in the fourth quarter, gold industry analysts in mainland China and Hong Kong said Thursday, citing the poor outlook for the global economy and the eurozone debt crisis.
Although Chinese gold industry experts see some near-term risks in gold due to investors’ wait-and-see attitude because of the upcoming National Day holidays in October in China, a precious metals analyst with Galaxy Futures, a subsidiary of Galaxy Securities based in Beijing said: “We see the gold price having an opportunity of climbing to $2,000/oz within Q4.”………………………………………Full Article: Source

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Gold Fibonacci signaling rebound from September slump

Posted on 30 September 2011 by VRS  |  Email |Print

Gold, heading to biggest monthly decline since 2008, may rally 8.2 percent by the end of this year, according to technical analysis by Paul Kavanaugh, a senior analyst and broker at PFGBest.
The precious metal may rise to $1,750 an ounce, based on Fibonacci analysis, Kavanaugh said yesterday in a telephone interview from Chicago……………………………………….Full Article: Source

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Gold investors struggle to find vault space

Posted on 30 September 2011 by VRS  |  Email |Print

Deep in the Singapore FreePort—a collection of secure storage facilities in a duty-free zone covering 7.4 acres next to Changi Airport—sits the bullion vault of Swiss Precious Metals. The gold there is protected by seven-metric-ton steel doors built to withstand a plane crash or an earthquake.
Open only a year, the vault is almost full, and demand for available space is high……………………………………….Full Article: Source

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Gold: The facts still matter

Posted on 30 September 2011 by VRS  |  Email |Print

People are always throwing around the fact that gold is “rare”. While that’s absolutely true, most people don’t have a clue as to what that really means.
Let’s look at the facts: the amount of gold ever mined in the world is 172,000 tons (as of 2011). Let me put that in perspective: If you were to combine all of the gold ever mined in the world, it would barely fill up four Olympic-size swimming pools. (Assuming an Olympic-size pool contains 2.5M liters, liquid gold would fill up 3.7 pools.)………………………………………Full Article: Source

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Silver rebounds from $26.50 support, may target $33.50 near term

Posted on 30 September 2011 by VRS  |  Email |Print

Silver crashed from $44 to around $26 recently, a 40% decline. As such, the metal looks attractive as investment given that the economic outlook does not look promising.
The fundamentals: The US economy is slowing. Even the US Federal Reserve had to accept that the US was facing a serious downside risk. The Euro zone debt crisis is yet to be resolved. And it does not look as if the debt issues are going to be solved within a week or month……………………………………….Full Article: Source

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Haywood forecasts US$38/oz near-term silver price, $20/oz long term

Posted on 30 September 2011 by VRS  |  Email |Print

Haywood Securities Wednesday forecast higher near-term silver prices averaging US$38 per ounce in 2011 supporting a low gold-to-silver ratio of 41:1, with a long term price declining to $20 per ounce in 2017 supporting a higher gold-to-silver ratio of 58:1.
“Investor interest in silver is expected to keep prices at or close to current levels over the near term, supported by a high level of open interest and activity at COMEX silver future contracts, a large amount of silver-backed silver ETFs, and strong demand for silver coins,” said Haywood metals analyst Chris Thompson……………………………………….Full Article: Source

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Barclays: Silver prices dip 6.2pct to $30/oz for first time since Feb

Posted on 30 September 2011 by VRS  |  Email |Print

Prices surrendered the previous session’s gains and lost further ground yesterday. Losses were once again led by silver, with prices falling by 6.2% to close below the $30/oz mark for the first time since February this year. Following a pickup in Silver ETP flows at the start of the week, holdings edged lower yesterday.
Silver holdings fell by a modest 14 tonnes, but flows for the month to date are still positive at 316 tonnes. Silver coin sales in the US have already set the third strongest month on record, according to the US Mint, with sales reaching 115.9 tonnes for the month so far……………………………………….Full Article: Source

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How to play it: Investors drill down on oil

Posted on 30 September 2011 by VRS  |  Email |Print

Oil prices will weaken only slightly and hover above benchmark Brent $100 a barrel next year, despite fears of a global economic recession and a steep fall in demand, according to a Reuters poll.
As the U.S. dollar appreciates against major trading currencies and global economic growth decelerates, crude oil prices are likely to remain under pressure……………………………………….Full Article: Source

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Time to invest in U.S. oil?

Posted on 30 September 2011 by VRS  |  Email |Print

The United States has more oil and natural gas resources than previous estimates, according to a recent study by National Petroleum Council. The study also concluded that development of these resources will reduce but not eliminate dependence on imported energy and production, and delivery of these resources should be done in an environmentally responsible manner.
The National Petroleum Council is a federally-charted but privately-funded organization set up after World War II to advise the government on issues pertaining to oil and gas matters……………………………………….Full Article: Source

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OPEC export boost stalls as demand falters, Oil Movements says

Posted on 30 September 2011 by VRS  |  Email |Print

The Organization of Petroleum Exporting Countries will keep shipment levels unchanged through to the middle of next month because of limited demand from refiners in Asia, according to tanker-tracker Oil Movements.
OPEC will export about 22.69 million barrels a day in the four weeks to Oct. 15, the same amount that it shipped in the month to Sept. 17, the Halifax, England-based company said today in a report. Shipments often rise at this time of year as refiners prepare to boost production of winter fuels. The figures exclude Ecuador and Angola……………………………………….Full Article: Source

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Iraq, Libya exports to raise OPEC oil supply

Posted on 30 September 2011 by VRS  |  Email |Print

OPEC oil output is expected to rise in September to its highest level in almost three years due to a jump in exports from Iraq and the restart of supplies from Libya, a Reuters survey found Thursday.
Supply from all 12 members of the Organization of Petroleum Exporting Countries is expected to average 30.25 million barrels per day this month, up from 30.15 million bpd in August, the survey of sources at oil companies, OPEC officials and analysts found……………………………………….Full Article: Source

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Oil price forecast cut due to growing supply

Posted on 30 September 2011 by VRS  |  Email |Print

Morgan Stanley cut its Brent forecast for next year to US$100, down from $130 previously because of increasing supply and a weaker demand outlook.
Production capacity in Opec will climb almost 800,000 barrels a day (bpd) next year, led by the return of Libyan fields, said Hussein Allidina, the head of commodities research at Morgan Stanley in New York. Non-Opec output will rise by 225,000 bpd……………………………………….Full Article: Source

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Ag commodities ETF jumps 2pct; sugar ETN rises 7pct

Posted on 30 September 2011 by VRS  |  Email |Print

As equities struggled today to finish on a positive note, agricultural commodities ETFs were charging to a strong close.
The PowerShares DB Agriculture Fund (DBA), the most popular and broad-based of the group, closed up 2.3% ahead of the U.S.D.A.’s quarterly report due Friday morning……………………………………….Full Article: Source

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Carbon scheme ‘open to fraud’

Posted on 30 September 2011 by VRS  |  Email |Print

Tony Abbott has seized on warnings about fraud in international emissions trading schemes as a reason to dump Labor’s planned carbon tax.
Amid concerns from the Australian Crime Commission and international fraud agencies, the Opposition Leader yesterday said there was “a lot of scope for scamming” within carbon trading schemes and strong enforcement would be required to police it……………………………………….Full Article: Source

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Commodities set for worst quarter since 2008 as debt risk threatens growth

Posted on 29 September 2011 by VRS  |  Email |Print

Angela MerkelCommodities declined and headed for their biggest quarterly loss since 2008 as European leaders struggled to tame the region’s sovereign-debt crisis, spurring concern that slowing global growth will cut demand.
The Standard & Poor’s GSCI Spot Index fell as much as 0.9 percent to 598.05 and was at 600.26 as of 10:45 a.m. Singapore time. The gauge was set for a quarterly decline of 10 percent, the worst since the last three months of 2008. Copper fell as much as 5.9 percent to $6,821 a metric ton on the London Metal Exchange and oil lost as much as 1.9 percent……………………………………….Full Article: Source

Commodities sink as worries about demand resurface

Posted on 29 September 2011 by VRS  |  Email |Print

Commodity prices sank Wednesday as hopes faded for a quick resolution to Europe’s debt crisis. The price of copper plunged 5.6 percent; oil fell 3.8 percent and silver dropped 4.4 percent. Other metals and agricultural products also ended lower.
It was a sharp reversal from the previous day, when prices rose on speculation that European leaders could be closer to drafting a plan to contain the region’s debt crisis. That optimism faded after German Chancellor Angela Merkel hinted that a second Greek bailout package may have to be renegotiated. Several European leaders want banks to take bigger losses on Greek bonds but France and the European Central Bank oppose the idea……………………………………….Full Article: Source

Emerging nations up gold reserves

Posted on 29 September 2011 by VRS  |  Email |Print

Emerging market countries are continuing to top up their gold reserves, with Russia, Thailand and Bolivia among those to add to their holdings in August as developing economies continue to diversify away from traditional reserve currencies.
Recently, emerging market central banks have bought gold in reaction to the sovereign debt crises affecting the US dollar and the euro, analysts say. Demand has also risen strongly in recent quarters as some seek to diversify foreign exchange reserves that have grown along with emerging market export industries……………………………………….Full Article: Source

India festival gold demand seen rising

Posted on 29 September 2011 by VRS  |  Email |Print

India’s gold demand during the peak festival season is expected to rise by around 65% to around 150 metric tons, with a slide in prices as well as good monsoon rains driving up rural purchases, the president of the Bombay Bullion Association said Wednesday.
Demand during the festival season last year was around 90 tons. “This week alone, the demand is expected to be around 100% more than last week,” Prithviraj Kothari said……………………………………….Full Article: Source

Ratio of platinum to gold slumped to the lowest level since 1992

Posted on 29 September 2011 by VRS  |  Email |Print

Spot gold has rallied 17 percent this year as investors sought to diversify from declining equities and depreciating currencies. The precious metal, which reached an all-time high of $1,921.15 on Sept. 6, has climbed 11 percent this quarter.
The ratio of platinum to gold slumped to the lowest level since 1992, a sign that investors may be concerned the sovereign-debt risk in Europe is escalating, potentially trimming demand for metals with industrial uses. One ounce of platinum bought as little as 0.9386 ounce of gold today……………………………………….Full Article: Source

Are gold and silver bugs running scared?

Posted on 29 September 2011 by VRS  |  Email |Print

Since touching $1,535 briefly on Monday, gold prices have rallied and even stabilized above $1600. Silver, which touched near $26 on Monday, has climbed back above $30. The precious metals seem to be at the whims of Europe and a strengthening US dollar. Furthermore, Germany (Europe’s economic powerhouse), does not appear to be pleased with the latest so-called sovereign debt crisis solution.
Hopes surfaced earlier this week of a plan to recapitalize Euro banks via the European Financial Stability Facility (EFSF)……………………………………….Full Article: Source

Gold and silver fall overdone but are they on the way back?

Posted on 29 September 2011 by VRS  |  Email |Print

Well the mainstream media really went to town on the sharp drop in the gold price last week. The bubble had truly burst according to some, while others were predicting further substantial falls to levels hugely below where the fall appeared to end. One detects a degree of schadenfreude in the utterances with analysts happy at suddenly seeming to be proved correct after predicting shakeouts in the gold and silver markets for much of the past ten years!
But in truth what actually happened? ………………………………………Full Article: Source

50 ways to invest in gold

Posted on 29 September 2011 by VRS  |  Email |Print

Gold investing has long been a popular option for investors looking to diversify their holdings. The precious metal is actively traded by a number of individuals and institutions, but is also held by a number of other investors as well.
It has become a popular safe haven as their seems to be very few safe options left, especially now that the Swiss franc has been pegged to the euro. A gold allocation can also act as a hedging tool in a portfolio, as the metal’s price typically moves inversely when compared to major equity benchmarks, generally offering nice returns when broad markets are slumping………………………………………Full Article: Source

Why China’s demand for copper keeps booming

Posted on 29 September 2011 by VRS  |  Email |Print

We tend, at times, to treat all metals as equal, at least in terms of discussing macro issues like the China bull market’s impact on metal prices, but a recent article by Morningstar – not normally a publication taken to metals analysis – makes some very interesting observations regarding the performance of various metals from before the financial crisis through today.
The main point of the article is the degree to which one metal can substitute for another when price pressures begin to materially impact consumers’ costs……………………………………….Full Article: Source

Is Dr. Copper warning of more down times? Kass points to China

Posted on 29 September 2011 by VRS  |  Email |Print

Since it’s used in all types of applications, copper is often referred to as “Dr. Copper” for its ability to forecast global industrial activity.
But it has been quite volatile of late and dropped today just like most commodities. The broad PowerShares DB Commodity (DBC) fell 2.7% on Wednesday on nearly double its longer-term average daily volume……………………………………….Full Article: Source

Some OPEC members may let oil below $90

Posted on 29 September 2011 by VRS  |  Email |Print

Some Gulf oil producers are unlikely to reduce supplies to try to stem a decline in oil prices unless crude falls below $90 a barrel for a sustained period. Others did not specify an ideal price range but said they would maintain high output and could tolerate a further decline in prices.
Brent crude, trading around $107 Wednesday, has fallen some $15 since the start of August as the economic outlook darkened and following the release of strategic consumer reserves and extra supplies from Gulf OPEC producers in June……………………………………….Full Article: Source

Iran oil minister to chair 140th OPEC meeting

Posted on 29 September 2011 by VRS  |  Email |Print

Iran’s Oil Minister Rostam Qasemi, who is not anymore in the sanctions list of some Western countries, is set to chair the upcoming meeting of the OPEC in Vienna.
Qasemi is scheduled to attend the meeting on December 14 after his name was “removed from the sanctions list of the Western countries” due to the efforts of the ministries of oil and foreign affairs, MEHR news agency reported on Wednesday……………………………………….Full Article: Source

Morgan Stanley cuts 2012 brent forecast to $100 from $130

Posted on 29 September 2011 by VRS  |  Email |Print

Morgan Stanley said Brent oil will average $100 next year, down from a previous projection of $130, because of increasing supply and a weaker demand outlook.
Production capacity in the Organization of Petroleum Exporting Countries will climb almost 800,000 barrels a day in 2012, led by the return of Libyan fields, Morgan Stanley analysts led by New York-based Hussein Allidina said in a report today. Non-OPEC output will rise 225,000 barrels……………………………………….Full Article: Source

BP may sell some global assets to India’s Reliance

Posted on 29 September 2011 by VRS  |  Email |Print

BP will discuss divesting some of its assets in Europe and North America to India’s Reliance Industries as it seeks to deepen its partnership with India’s largest private sector company, the Economic Times reported on Thursday, citing the British group’s chief executive.
Bob Dudley told the newspaper the company had announced $25 billion (16 billion pounds) to $30 billion worth of divestments and would continue to manage its portfolio with more asset sales……………………………………….Full Article: Source

Tired of gold, silver? Fertiliser, potash ETFs a good option

Posted on 29 September 2011 by VRS  |  Email |Print

It may not sparkle or shine, but fertilizer has a bright future. In this exclusive interview with The Energy Report, Bruno del Ama, CEO of Global X Funds, tells us why investors should be looking at this “growing” industry and how his company’s new global fertilizer and potash ETF provides a great vehicle for profit.
He also tells us why his company’s Gold and Silver mining ETFs are poised to catch up with precious metal market performance……………………………………….Full Article: Source

Gold ETF investors not heading for exit

Posted on 29 September 2011 by VRS  |  Email |Print

Amid the second-largest gold sell-off since 1983, the casual observer could be forgiven for thinking that investors were dumping bullion in droves.
Initial data suggests otherwise. The loss of confidence that caused gold prices to fall 10 percent in the four days through Monday has not yet unnerved investors in the leading gold exchange traded fund, nor caused futures traders to close out positions en masse, figures show……………………………………….Full Article: Source

Beware of China’s pan Asia gold exchange

Posted on 29 September 2011 by VRS  |  Email |Print

Gold markets will never be the same again once China establishes the so called Pan Asia Gold Exchange (PAGE), scheduled to open in June, 2012, analysts predicted.
The Exchange, which will be opened at Kunming, capital of China’s southwestern province of Yunman will certainly change the way gold prices are setting, analysts added. The setting up of the Exchange is entitled to change global supply and demand dynamics and how gold can be traded……………………………………….Full Article: Source

Asian currencies may slide 10pct by year

Posted on 29 September 2011 by VRS  |  Email |Print

An Asian benchmark currency index may drop 10 percent to the lowest level since March 2009 by year-end should losses widen at the same pace seen in 2008, according to Citigroup Inc. technical analysis.
A weekly chart of the Bloomberg-JPMorgan Asia Dollar Index, which tracks the region’s 10 most-active currencies excluding the yen, closed below the 55-week moving average, signaling further declines, Shyam Devani, London-based technical analyst at Citigroup, said………………………………………Full Article: Source

What’s happening with currencies

Posted on 29 September 2011 by VRS  |  Email |Print

US dollar gains are back. Major currencies are taking a hit early in the New York morning, keeping currencies like the Euro and British pound lower after rocketing higher in the overnight. The euro currently trades at 1.3610 after reaching an intrasession high of 1.3689 off of 1.3540 support.
Both New Zealand and Australian dollars are additionally lower – trading down 0.28% and 0.03% respectively. Economic data is thin with only a handful of numbers offering traders some volatility on this rather light day……………………………………….Full Article: Source

Carbon spread trading surges 70pct, outpaces ICE total CO2 growth

Posted on 29 September 2011 by VRS  |  Email |Print

The volume of carbon spread trading surged 70 percent in the past four months amid increased volatility, outpacing a 65 percent rise in the entire greenhouse-gas market, according to data from ICE Futures Europe.
There were 391.5 million metric tons of spread trades in the period through Sept. 20 from June 1, e-mailed data from ICE in London show. There were 229.3 million tons handled in the same period last year, according to ICE, the biggest exchange for carbon trading. Total volumes jumped 65 percent in the period to 1.98 billion tons, the data show……………………………………….Full Article: Source

Commodities rally as Europe hopes draw investors to risk

Posted on 28 September 2011 by VRS  |  Email |Print

Commodities rebounded as the selloff that had pushed the prices of many industrial raw materials to multi-month lows drew some opportunistic buyers.
Reports suggesting that the euro zone’s bailout fund may be expanded and that plans were in the works to recapitalize the currency union’s struggling financial sector helped spark rallies in economically sensitive materials such as copper and crude oil……………………………………….Full Article: Source

Why slide in commodity prices is a good thing

Posted on 28 September 2011 by VRS  |  Email |Print

The commodities’ slide ends a period in which economists and commodity buyers seemed to be living in different worlds. The economic story was of a frail world that could be about to fail. Yet oil and most other commodities rose into the stratosphere. They are still far from falling to earth, Brent is still 32 per cent higher than last year.
The apparent disconnect can be resolved. Growth has been weaker than hoped in developed economies but still strong enough in emerging economies to help keep prices high. But investment and monetary factors are also at play……………………………………….Full Article: Source

Gold: How low can it go?

Posted on 28 September 2011 by VRS  |  Email |Print

Gold prices shocked investors last week by plummeting alongside other assets perceived as far riskier, losing some of its allure as a safe haven. We look at the combination of factors that conspired to bring about that slump.
Hikes to margin requirements – the cost of holding positions – in the United States and China were a key trigger, as they tend to force the most highly leveraged speculators to liquidate……………………………………….Full Article: Source

Jim Rogers turns bearish on gold, doubts it will climb $2000 in 2011

Posted on 28 September 2011 by VRS  |  Email |Print

Gold prices witnessed a rally for a decade which is unusual for any asset class but the present correction in prices may last for weeks or months, according to Jim Rogers, legendary investment wizard and Chairman of Rogers Holdings.
He expressed doubts on whether the yellow metal prices will reach $2000 an ounce in 2011. Much of the present movements in Gold are due to panic and fear……………………………………….Full Article: Source

Gold’s fall presents opportunity

Posted on 28 September 2011 by VRS  |  Email |Print

The global economy is faltering and the world’s monetary system is looking exceedingly precarious, yet the price of gold has plunged in the last week. Soon after US Federal Reserve chairman, Ben Bernanke, announced Operation Twist, a policy intended to reduce borrowing costs, global markets plunged.
The Fed’s $400 billion plan, named “Operation Twist” is the latest in a series of steps aimed at reviving an economy that has very sluggish growth and high unemployment……………………………………….Full Article: Source

Gold support near $1500 should hold, but bull market may pause

Posted on 28 September 2011 by VRS  |  Email |Print

History suggests that the bulk of gold’s correction may be over, but it may be a while before prices hit new records again. Precious metals were crushed last week as panic liquidation hit the sector and investors rushed to lock in their gains. The steep drop in prices caught many off guard, with some commentators now wondering whether the bull market in precious metals is over. Is that the case?
From July 1 to Sept. 6, a seemingly never-ending stream of bad news related to Europe’s sovereign debt crisis; a contentious debt-ceiling debate in the U.S……………………………………….Full Article: Source

Silver’s image and its potential effects

Posted on 28 September 2011 by VRS  |  Email |Print

There are those who believe that gold will head to $2,000 an ounce and perhaps beyond. HSBC, for example, raised its gold pricing forecasts through 2013. Such optimism tends to be accompanied by the belief that silver will also rise, potentially to $50 an ounce, almost as if by default from gold’s success.
But investors may want to play silver a bit wiser by viewing the metal through an independent lens. Despite the bright forecasts for its yellow superior, analysts are expressing concerns about the outlook for silver……………………………………….Full Article: Source

Now is the time to buy silver despite the crash

Posted on 28 September 2011 by VRS  |  Email |Print

If you missed the opportunity to profit from the Silver run last time, be sure not to miss it this time. Here’s why we think, it is right time to buy silver despite the crash the metal prices have registered since the past week.
Silver fundamentals remain positive despite the current crash. The big sell-off was primarily due to big money unwinding its positions to meet losses in other markets and the CME margin hike that accompanied only made it worse……………………………………….Full Article: Source

Botswana all set to become global diamond hub

Posted on 28 September 2011 by VRS  |  Email |Print

Weeks after entering an agreement with leading diamond group De Beers, southwest African nation Botswana said it will turn country’s capital Gaborone a diamond hub by 2013.
Earlier this month, Botswana and De Beers signed a ten year contract to form Debswana for the sorting, valuing and sales of country’s diamond production……………………………………….Full Article: Source

Steel prices weaken in emerging economies on grim economic outlook

Posted on 28 September 2011 by VRS  |  Email |Print

Amidst the increasingly grim economic outlook, Steel prices have come under tremendous pressure especially from Russia, Brazil and other developing economies.
In Russia, local steel producers are planning on production cuts if the market remains weak. In Ukraine, domestic steel consumption is declining and steelmakers forecast stable demand for Sept/Nov………………………………………Full Article: Source

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