Top exporter Saudi Arabia and other Gulf producers say surging oil markets are beyond their control and prices could spike higher unless tensions between the West and Iran subside.
Saudi Oil Minister Ali al-Naimi and OPEC Secretary General Abdullah al-Badri are expected to focus on high oil prices in their addresses to the International Energy Forum gathering of oil ministers and executives on Wednesday, several OPEC sources said………………………………………..Full Article: Source

Weekly average oil prices of the Organization of Petroleum Exporting Countries (OPEC) rose to 122.87 U.S. dollars per barrel last week, the Vienna-based cartel said.
Prices last week reached its highest point since July 2008, as they continued to rise for five consecutive weeks. Compared with February this year, oil prices have increased by 12 dollars — or 10 percent — per barrel………………………………………..Full Article: Source

OPEC officials speaking this week at the International Energy Forum in Kuwait are likely to highlight the role of excessive market speculation in lifting oil prices, but they are expected to avoid mentioning Iran, two people familiar with OPEC’s thinking, including one from the Gulf, said Tuesday.
“OPEC is likely to highlight the role played by excessive speculation” in current volatility, but it “is unlikely to mention Iran,” one person said………………………………………..Full Article: Source

Fadhil Chalabi, a former ‘insider’ who spent many years at the heart of this organization, dispels myths and invites us to discover the realities, environment and evolution of policies that have shaped OPEC and the oil industry.
One of Carlos the Jackal’s OPEC hostages in 1975, the author interweaves his analysis with first-hand experiences that give authenticity to momentous events, from the time of Egypt under Nasser, Gaddafi’s Libya and Saddam’s Iraq. Oil Policies, Oil Myths explores the continuing importance of oil while examining the geopolitical influences that cause oil crises and price hikes and which undermine oil’s future………………………………………..Full Article: Source

With some of the most pressing concerns about Greece out of the way for now, the new worry on currency investors’ minds is the rising oil price.
After almost two years in the limelight, Greece took a key step forward last week when it managed to secure enough commitments from private bondholders to get a debt restructuring through. With a second bailout on the way and a disorderly default avoided, Greece is no longer topping investors’ worry lists………………………………………..Full Article: Source

We have long warned that a consequence of a sovereign debt crisis in various countries and coming in the US , would be currency devaluations and an international monetary crisis. Slowly but surely various commentators are now coming to that conclusion.
According to a new book launched this month, ‘In Gold We Trust?’ a currency crisis is coming and people should buy gold to protect themselves. Michael Green, co-author with Matthew Bishop of ‘In Gold We Trust?’, explains to Gregg Greenberg of The Street in the video why a currency crisis is unavoidable and investors need to protect themselves with gold. ……………………………………….Full Article: Source

According to Bloomberg, hedge funds decreased bets on higher commodity prices for the first time in seven weeks. This comes shortly after China cut its official economic growth forecast to 7.5 percent this year, the lowest since 2004. While money managers slashed bets on copper by the most in two months, demand for precious metals remains strong.
Data from EPFR Global, which provides fund flows and asset allocation data to financial institutions around the world, shows that investors placed more than $200 million into commodities in the week ending March 7………………………………………..Full Article: Source

Now, according to Wikipedia, the value of the gold at the time of the mint swindle was $653,000. Not a bad heist. $653,000 in today’s money, according to the Reserve Bank of Australia’s surprisingly user-friendly inflation calculator, is $2.02 million - a difference of $1,367,000.
And so we ask you, dear reader, which is the bigger heist? Stealing $653,000 worth of gold, or stealing $1,367,000 worth of purchasing power?……………………………………….Full Article: Source

The price of gold would reach USD 3,400 per troy ounce in coming years, forecasts of analysts from Citigroup, quoted by Tavex, say. According to them in 2012 the cost of gold would exceed USD 2,400 per troy ounce.
French banking giant BNP Paribas did not agree with the forecast noting that gold price would not exceed USD 3,000 in the near future. Their forecasts say the average price of gold in the last quarter of the year would reach USD 2,030 per troy ounce growing to USD 2,220 in 2013, the Standart daily reads………………………………………..Full Article: Source

Platinum rallied for a fifth day in a row on Tuesday, its longest streak of gains since October that took the price above that of gold for the first time in six months, while gold itself fell below $1,700 an ounce ahead of a US rate decision later.
The price of platinum has gained more than 20 percent so far this year, propelled by supply disruptions in South Africa, the world’s largest producer, where safety stoppages and illegal strike action at a major mine have eroded output………………………………………..Full Article: Source

Physical gold traders in India, the world’s biggest buyer of bullion, stayed on the sidelines on Tuesday, despite a decline in the prices from the one-week high hit in the previous session.
The most-active gold for April delivery on the Multi Commodity Exchange (MCX) was 0.38 percent higher at 27,866 rupees, easing from the previous session’s high of 28,084 rupees………………………………………..Full Article: Source

For quite a lot of people, the process of learning how to actually buy silver bullion over the internet can be a very intimidating one. The reality however is that learning how to buy silver bullion online is actually pretty simple. The steps involved in the process are not at all complicated and mean that anyone who wishes to make their purchase over the internet can do so with great ease.
There are a variety of options when it comes to buying silver on the internet but pretty much all of them follow the exact same basic guidelines when it comes to instructing on how to actually make a purchase………………………………………..Full Article: Source

Every one focuses on the brightest spots in the market. But let me talk about the darkest star instead. Physicists say that the darkest matter also shines brightest when it glows. A savvy investor notices what others ignore, and appreciates the beauty of Cinderella before she is invited to a royal party and admired by all.
The darkest star is literally dark in color. This sector is also at its darkest moment now. It will soon glow from the darkness and become the brightest star. I am talking about coal………………………………………..Full Article: Source

The United States, European Union and Japan have filed requests with the World Trade Organization for formal consultants with China on unfair export restraints of rare earths, tungsten and molybdenum almost a year and a half after the launch of a US review of Chinese rare earths trade practices.
The consultations were described as the first step in a WTO trade process to encourage a solution but if the case is not resolved within 60 days the challenge may lead to creation of a WTO dispute settlement panel………………………………………..Full Article: Source

One of China’s biggest financial assets are so called ‘rare earth metals’, minerals that are critical in the manufacture of high tech products such as mobile phones, TVs, computers and even hybrid cars.
China currently has a monopoly over the industry, producing more than 95 percent of the world’s supply. Now President Barack Obama says he is taking China to the World Trade Organisation over its export restrictions on rare earth minerals to protect US workers and businesses from unfair competition………………………………………..Full Article: Source

Far be it for Gold Stock Trades to indulge in hubris, nevertheless with all humility we not only saw this risk on rally forming in early October but reiterated on many occasions “be not dismayed by recent declines.” “Commodities are not in a bubble.” “Patience and Fortitude.”
Recent action exemplifies the importance of not being trigger happy when it involves the commodity arena especially precious metals, uranium and rare earths. Volatility can daunt even the most resolute of investors………………………………………..Full Article: Source

U.S. dollar strength has kept a number of commodities range-bound, including gold, silver, copper and agricultural grains. Yet industrial metals tied to economic expansion appear to be gaining strength on signs that China may loosen monetary and fiscal policy, while oil/gasoline continue to surge on Middle East uncertainty.
In aggregate, commodity investing has been mildly beneficial in 2012. The iPath DJ UBS Total Commodity ETN (DJP) is up 3% year-to-date, but that pales in comparison to the 10%-plus on shares of corporate stock………………………………………..Full Article: Source

Many believe it’s important to have portfolio exposure to a basket of commodity ETFs. Why? Commodity markets often feature noncorrelated performance with conventional portfolios. But, this relationship has changed with easy money policies begun in 2008 which, away from most bond markets, has allowed most assets, including commodities, to trend in the same direction, becoming highly correlated.
These policies have also have caused a decline in the dollar. Since most commodities are priced in dollars, this puts upward pressure on prices which can become inflationary………………………………………..Full Article: Source

Man Group will be hoping for a revival in investors’ appetite for fresh commodities allocations, as it launches its first long-only fund dedicated to the sector after a year when allocators cut the amount of new money they gave to the complex by over 70%.
The Ucits compliant Man Commodities fund is exposed to the Man Systematic Commodity Index, a benchmark with 25 liquid futures contracts that include precious and industrial metals, energy and agricultural products, according to Man………………………………………..Full Article: Source

Anglo American Plc (AAL)’s $5.1 billion plan to almost double its diamond business and platinum mines that are missing targets risk killing its allure as a takeover target for a merged Glencore International Plc-Xstrata Plc.
Anglo has agreed to buy an additional 40 percent of De Beers, the biggest producer of diamonds, a gem shunned by most commodities companies because it only trades over-the-counter. Cynthia Carroll, chief executive officer of London-based Anglo, said last month she’s reviewing its platinum operation, saying returns “are not acceptable.”……………………………………….Full Article: Source

Japan’s largest commodity exchange, The Tokyo Commodity Exchange Inc. (Tocom), is seeking a capital and business alliance with CME Group. CME Group is likely to take 20% stake in the Japanese exchange that could pave the way for the CME to list its products on Tocom.
CME Group is expanding globally by forging product and technology alliances as mergers and acquisitions have proved largely unsuccessful for rivals such as NYSE Euronext and Nasdaq OMX in recent times………………………………………..Full Article: Source

While in the northern hemisphere, the euro has lurched from one economic crisis to another, in Australia it’s all been sunshine and roses. But could that be about to change?
The biggest restructuring of debt in history took place on Friday to reduce the €206 billion of Greek debt held by private investors. Nevertheless, the notoriously jumpy foreign exchange markets barely flickered in recognition. It’s clear that the markets are still extremely sceptical about the country’s future………………………………………..Full Article: Source

Sasha Cekerevac, co-editor for Penny Stock Detectives, believes that the bizarre weather patterns we will continue to experience around the world will lead to supply disruptions in agricultural commodities. In a recent Penny Stock Detectives article, Cekerevac says that significant supply disruptions will lead to higher agricultural commodity prices, translating to higher food costs on the average person’s plate.
Cekerevac points to recent news reports of dry weather conditions in South America, which are likely to reduce the amount of soybean crops the country will be able to grow. Brazil is also reportedly producing fewer soybeans, at 68 million metric tons versus United States Department of Agriculture (USDA) estimates of 72 million metric tons due to drier conditions than normal. (Press Release)

Rising food prices threaten to add even more stress to Americans’ budgets and even create instability in the United States and around the world, according to one analyst who studies the role of speculation in commodities markets.
Economist Yaneer Bar-Yam, who contributed to the New England Complex Systems Institute’s study of food prices. Bar-Yam and his fellow researchers developed an economic model designed to incorporate speculators’ actions in the marketplace. “When people moved into the commodities market, they basically blew the price controls off the roof,” Bar-Yam said……………………………………….Full Article: Source

Clean and potable water is a human right, not a for-profit commodity dependent on market logic, said the Pontifical Council for Justice and Peace in a recent document.
Unfortunately, “there persists an excessively commercial conception of water which runs the risk of mistaking it for just another kind of merchandise, and making investments for the sake of profit alone, without taking into account water’s worth” as a public good, it said………………………………………..Full Article: Source