Fri, Nov 28, 2014
A A A
Welcome kbr175@gmail.com
RSS

Commodities Briefing - Archive | June, 2012

What effect will the EU summit have on commodities?

Posted on 29 June 2012 by VRS  |  Email |Print

Commodity prices are broadly lower ahead of the EU summit and a disappointing unemployment rate in Germany, which jumped to 6.8%. Equity markets in the euro zone are falling on growing fears the EU summit starting in Germany will be a bust, with no decisive plan from EU leaders.
In fact the really scariest trend I noticed online this morning is traders and media outlets comparing the EU to the 2008 Lehman Brothers collapse………………………………………..Full Article: Source

Major EU Summit agreement unlikely: Commodity analysts

Posted on 29 June 2012 by VRS  |  Email |Print

Analysts with major European investment banks involved with commodities trading have expressed doubt that this week’s European summit would produce any long-term solutions to the eurozone debt crisis.
Without a long-term solution, the euro is likely to come under continued pressure from the US dollar, analysts have said. The dollar broke below $1.25 early Thursday to reach the lower $1.24 level against the euro………………………………………..Full Article: Source

OPEC sees steady growth in oil demand - EU/OPEC statement

Posted on 29 June 2012 by VRS  |  Email |Print

OPEC expects global oil demand to show steady growth, particularly from big developing countries, despite the economic slowdown, a joint statement from the oil producers’ group and the European Union said on Thursday.
The statement said OPEC outlined at a meeting in Brussels the varying impact on demand of the issues affecting global economic recovery………………………………………..Full Article: Source

Venezuela says OPEC may hold extraordinary meeting

Posted on 29 June 2012 by VRS  |  Email |Print

The Organization of the Petroleum Exporting Countries could hold an extraordinary meeting in the third quarter of this year if global crude prices remain low, Venezuela’s Energy Minister Rafael Ramirez said on T hu rsday.
Venezuela, which is at loggerheads with top OPEC producer Saudi Arabia, wants the group to set an oil price band of $80 to $120 a barrel to stem crude’s recent tumble, seeking to revive a policy the cartel scrapped seven years ago………………………………………..Full Article: Source

Iran sanctions will halve oil sales but may still not succeed

Posted on 29 June 2012 by VRS  |  Email |Print

Embargo has led to huge increases in price of staple foods, while currency has lost half its value since 2010. The EU’s oil embargo comes into full effect on Sunday, marking a dramatic escalation in the pressure on Iran over its nuclear programme.
But while the sanctions are biting deeper into Iranians’ lives with each passing day, it is less clear whether they will alter the minds of the Tehran leadership………………………………………..Full Article: Source

Is gold on the edge of a violent downturn?

Posted on 29 June 2012 by VRS  |  Email |Print

Gold is on the brink of a “violent downturn” and could even fall as low as $700 an ounce as the risk of deflation in developed economies grows and technical pointers turn bearish.
“Technical levels show us when the trouble is coming. Gold struggled at $1,700 and then at $1,600. If it breaks through the next key level of $1,500, which could be approaching soon, investors would start panicking and selling hard,” Yoni Jacobs, Chief Investment Strategist at Chart Prophet Capital said on Thursday………………………………………..Full Article: Source

Gold traders extend bullish streak as debt crisis deepens

Posted on 29 June 2012 by VRS  |  Email |Print

Gold traders are bullish for a sixth week on speculation that Europe’s debt crisis will boost demand from investors seeking to protect their wealth and drive prices higher after the biggest quarterly slump in eight years.
Sixteen analysts surveyed by Bloomberg said they expect a rally next week and 10 were bearish. Another five were neutral. Investors added about $1.9 billion to holdings in gold-backed exchange-traded products this month, the most since November, according to data compiled by Bloomberg……………………………………….Full Article: Source

Gold lacks all safe haven interest as commodities pull silver lower

Posted on 29 June 2012 by VRS  |  Email |Print

Wholesale prices to buy gold ticked back above $1570 per ounce in London trade Thursday lunchtime, but held onto a 0.5% loss for the session as stock markets fell ahead of today’s Euro crisis summit in Brussels – the 12th such meeting in 12 months.
“Nein! No! Non!” said the front-page of German finance daily Handelsblatt, urging chancellor Angela Merkel not to concede to calls for weaker monetary or fiscal policy across the 17-nation currency zone………………………………………..Full Article: Source

Gold traders, investors and hoped for QE

Posted on 29 June 2012 by VRS  |  Email |Print

If inflows into gold ETCs are anything to go by, investors are not really holding out a great deal of hope for solutions to the regions problems to be forthcoming from the EU summit that begins today.
According to ETF Securities, long gold ETCs recorded US$246m of new inflows last week, bringing cumulative net inflows to US$845m over the past 5 weeks………………………………………..Full Article: Source

Morgan Stanley cuts 2012-2013 forecasts for silver, gold

Posted on 29 June 2012 by VRS  |  Email |Print

New York based global financial services firm Morgan Stanley trimmed its 2012 and 2013 silver price forecasts to $31.5 an ounce and $34.9, respectively. Morgan Stanley also lowered its precious metals price forecasts for 2012 through 2014, saying the move was in line with the bank’s cut in its global commodity price forecasts.
The firm trimmed its price forecasts for 2012-2014 on gold and silver by 7-16%, expecting gold at $1,677 per ounce in 2012, from $1,825 previously………………………………………..Full Article: Source

EU steel industry in terminal decline: Sector chief

Posted on 29 June 2012 by VRS  |  Email |Print

The European Union’s steel industry may need to shut three quarters of its capacity in the next two decades because of declining demand, rising costs and cheap imports, a European sector chief said on Thursday.
“It is foreseeable in the next 10, 15, 20 years, at least for normal grade steel, that production in Europe will not be competitive any more,” Wolfgang Eder, president of European steel industry body EUROFER said………………………………………..Full Article: Source

S.Africa: Commodity exchanges proposed to stabilise struggling platinum, ferrochrome sectors

Posted on 29 June 2012 by VRS  |  Email |Print

Commodity exchanges should be established for the metals and minerals that South Africa supplies from a dominant global position.
That is the upheaval remedy that Pan-African Capital CE Dr Iraj Abedian advocates for the currently stricken platinum mining and ferrochrome industries in particular, at a time when Mineral Resources Minister Susan Shanbangu is putting government, business and labour heads together to arrive at solutions………………………………………..Full Article: Source

Commodities futures up as weather threatens growers globally

Posted on 29 June 2012 by VRS  |  Email |Print

The Standard & Poor’s GSCI gauge of 24 commodities recently increased 0.8 percent to 577, being sparked by cocoa and sugar, which experienced jumps in stocks.
Cocoa and sugar were forecast to struggle as a result of the wet weather in West Africa hurting the crops, driving futures up, according to Reuters………………………………………..Full Article: Source

Aussie, Kiwi advance for third day on growth outlook

Posted on 29 June 2012 by VRS  |  Email |Print

The Australian and New Zealand dollars climbed for a third day as U.S. economic reports eased concern the world’s largest economy is faltering, boosting demand for higher-yielding assets.
The so-called Aussie headed for its biggest monthly gain versus its U.S. counterpart since January as traders added to bets the Reserve Bank of Australia will keep rates unchanged next week as long as Europe’s debt crisis doesn’t worsen. New Zealand’s currency, nicknamed the kiwi, was set for the second- biggest gain in June among the greenback’s 16 major peers as Asian stocks extended a global advance………………………………………..Full Article: Source

BRICS’ other problem: Sliding currencies

Posted on 29 June 2012 by VRS  |  Email |Print

Each member of the BRICS quintet has its own batch of specific economic problems. In China, inflation remains pesky, while investors are concerned about the ability of policymakers to engineer an economic soft landing. At the same time, Russian equities have been ravaged by the rapid decline in oil prices.
Brazil is contending with declining oil prices, inflation and China’s economic malaise. China is Brazil’s largest trading partner. South Africa has an unemployment rate that is uncomfortably high, while India’s economic problems are almost too numerous to name………………………………………..Full Article: Source

Credit Suisse client survey: Investors are underweight commodities amid caution over volatility

Posted on 29 June 2012 by VRS  |  Email |Print

A new survey from Credit Suisse finds that a broad range of investors say they are currently underweight commodities, even though they expect to increase their allocations over the next 12 months. Credit Suisse conducted the survey as part of its 2012 New York City Commodities Day on Tuesday, June 26, with a gathering of about 320 clients covering a wide cross section of institutional investors, distributors, mutual funds and hedge funds.
“While investment in Commodities continues to grow, in the near term most participants are exercising caution amid market volatility and large macro risks like we’re seeing in Europe,” said Oscar Bleetstein, Head of Americas Institutional Sales for Commodities at Credit Suisse. “Our annual Commodities Day event helps our clients to navigate this challenging environment by presenting insight from across the institutional divisions of Credit Suisse.” (Press Release)

Carbon at Korea companies in market rose 9.1pct

Posted on 29 June 2012 by VRS  |  Email |Print

Output of greenhouse gases at 467 companies that will probably be in South Korea’s proposed carbon market starting in 2015 rose 9.1 percent in 2010, according to Bloomberg New Energy Finance.
Emissions rose to 515.5 million metric tons of carbon dioxide equivalent from 472.7 million tons in 2009, London-based New Energy Finance said in a June 22 note published on its website, citing data from the Greenhouse Gas Inventory & Research Center of Korea in Seoul………………………………………..Full Article: Source

Credit Suisse: Commodities outlook drab, investors sidelining cash

Posted on 28 June 2012 by VRS  |  Email |Print

Rick DeverellCredit Suisse commodities analysts said Wednesday they’re planning to update their price forecasts for closely-watched gold, oil, copper and other raw materials in the next few weeks, but they’re already signaling that any big run-up after a recent sell-off appears unlikely.
Meeting with reporters in Credit Suisse’s New York City office, Rick Deverell, global head of commodities research, said their cautious outlook boils down to the approximately 3.5% global economic growth rate expected for the second half of 2012. Such a tepid expansion rate “normally means flattish commodity prices,” Deverell said………………………………………..Full Article: Source

Why speculation is good (Especially in the commodities market)

Posted on 28 June 2012 by VRS  |  Email |Print

Michael Douglas“Greed, for lack of a better word, is good.” So said Gordon Gekko, the iconic corporate raider in Oliver Stone’s cynical 1987 film Wall Street. Michael Douglas won an Academy Award for Best Actor for his role in the film, now a classic. In the film, Gekko is ultimately imprisoned for securities fraud after years of benefiting from insider trading.
Today, many liberal legislators and left-wing politicians associate Wall Street traders and investment bankers with the criminal activities of Gordon Gekko, the fictional film character. Certainly the Occupy Wall Street protesters believe Wall Street is the seat of corporate greed and corruption………………………………………..Full Article: Source

Glencore courts Qatar as Xstrata tweaks merger pay: Commodities

Posted on 28 June 2012 by VRS  |  Email |Print

Glencore (GLEN) International Plc and Xstrata Plc (XTA), seeking to salvage the year’s biggest takeover, moved to appease dissident investors who have threatened to derail the 16 billion-pound deal ($25 billion).
Glencore yesterday met with Xstrata’s second-biggest shareholder, Qatar Holding LLC, over the sovereign wealth fund’s call for a 16 percent increase in the commodity trader’s bid, people familiar with the London talks said. Xstrata revised payments for executives intended to keep them at the combined company by adding a link to performance after holders attacked the bonuses as excessive………………………………………..Full Article: Source

How the deal of the year, between the commodity giant Glencore and miner Xstrata, has gone wrong

Posted on 28 June 2012 by VRS  |  Email |Print

For a deal that everyone was expecting, the Glencore-Xstrata merger has a nasty habit of throwing up surprises. And few of them have been pleasant.
The biggest yet was served up on Tuesday evening. Qatar, the emirate that is Xstrata’s second largest shareholder, issued a shock demand for an improvement in the £42bn deal’s merger terms. The price, Qatar said, was too low………………………………………..Full Article: Source

Simon English: What would you pay for a slightly used commodities giant?

Posted on 28 June 2012 by VRS  |  Email |Print

Outlook Last May the commodities trading giant and all around company-of-the-future Glencore came to the stock market, turning a private concern into a public company owned by our pension funds and other supposedly savvy investors.
More than a few sages – and a bunch of blokes on the 341 bus through north-east London, who openly know nothing about the commodities market – made the following observation………………………………………..Full Article: Source

Scotiabank’s Commodity Price Index edges down in May

Posted on 28 June 2012 by VRS  |  Email |Print

Commodity Price Index inched down by 0.1 per cent in May, the sixth consecutive monthly decline. The All Items Index has so far fallen 15.9 per cent below its April 2011 near-term peak, just prior to the advent of concern over excessive European sovereign debt. However, the correction remains much less than the 46 per cent slide in the second half of 2008.
“Concern over slowing global growth has pulled down riskier assets such as commodities and equities,” Patricia Mohr, vice-president Economics and Commodity Market Specialist at Scotiabank said………………………………………..Full Article: Source

Experts see oil below $100

Posted on 28 June 2012 by VRS  |  Email |Print

An increasing number of analysts see oil prices averaging below $100 a barrel over the next two years as doubts about medium-term economic growth outweigh concerns about oil supplies, a Reuters poll found.
Twelve of 31 respondents in the monthly survey are forecasting Brent crude will average $100 or less in 2013 and nine of 22 analysts expect $100 or less in 2014………………………………………..Full Article: Source

Oil over $100 seen on Iran after worst quarter since ’08

Posted on 28 June 2012 by VRS  |  Email |Print

Brent crude is set to recover from its worst quarter since 2008 as a European Union ban on Iranian oil takes effect, central banks act to protect growth and on speculation OPEC will curb some of its excess supply.
Brent, the second-worst performer between April and June in the Standard & Poor’s GSCI commodity index, is forecast to rebound to an average $114.50 a barrel in the third quarter, according to the median estimate of 32 analysts tracked by Bloomberg………………………………………..Full Article: Source

Venezuela wants OPEC price band restored

Posted on 28 June 2012 by VRS  |  Email |Print

Venezuela on Wednesday proposed that OPEC set an oil price band of $80 to $120 a barrel, Energy Minister Rafael Ramirez told Reuters, bidding to restore a policy the cartel tried 12 years ago in a failed attempt to control prices in a tight range by adjusting supply.
The Organization of the Petroleum Exporting Countries in 2000 adopted a $22 to $28 price band, requiring its members to cut or raise output in an effort to keep prices in that range for an OPEC basket of crudes………………………………………..Full Article: Source

OPEC (Oil Prices Explain Crisis)

Posted on 28 June 2012 by VRS  |  Email |Print

On the Deep End we don’t exactly overlook the contribution of the Eurozone to the great economic crisis of our times. But there is another multinational enterprise that deserves the occasional mention – the Organisation of Petroleum Exporting Countries (OPEC).
OPEC’s “fair” price is based ultimately on the budgetary needs of the cartel’s members, whose appetite for petrodollars has increased significantly since the onset of the so-called Arab Spring. Hoping to avoid the fate of leaderships in Egypt and Tunisia, Persian Gulf regimes have showered their people with gifts and subsidies………………………………………..Full Article: Source

Is gold bullion a zero risk financial asset?

Posted on 28 June 2012 by VRS  |  Email |Print

Gold has been called many things over the past several years. The shiny yellow metal is seen as a safe-haven to some, but a barbaric lifeless asset by others. In short, gold has trouble receiving a wide range of support as a key player in the global financial system. However, new developments may slowly change how investors and institutions view the precious metal.
Earlier this month, US federal bank regulators issued a proposed rule-making note regarding capital risk-weightings for various assets………………………………………..Full Article: Source

‘Pressure mounting’ on bullion, but central banks buying

Posted on 28 June 2012 by VRS  |  Email |Print

US dollar gold prices dropped as low as $1,565 an ounce during Wednesday morning’s London trade – 1.4% down on this week’s high – before recovering some ground by lunchtime, while stock markets posted slight gains ahead of tomorrow’s European Union summit.
Silver prices traded below $27 an ounce for most of this morning, while other industrial commodities were broadly flat on the day by lunchtime. On the currency markets meantime, the euro was broadly flat against the dollar, trading just below $1.25 for most of the morning………………………………………..Full Article: Source

What is driving the cash for gold market?

Posted on 28 June 2012 by VRS  |  Email |Print

UK Based gold refiner and bullion dealer Capella Manufacturing has recently released research on the top 10 motivators that cause UK consumers to part with their gold.
“It is interesting that in the UK one of the top 10 reasons is because consumers perceive Yellow Gold has gone out of fashion. Whilst this could be one possibility, in New Zealand this is certainly not the case for our local market. However we do agree that nearly all of the other reasons are very similar for us.” Says New Zealand Gold Merchants Director Tony Coleman………………………………………..Full Article: Source

Central banks gold buying news failed to rally prices: HSBC

Posted on 28 June 2012 by VRS  |  Email |Print

Data released Tuesday from the International Monetary Fund show that the central banks of Russia, Ukraine and Kazakhstan boosted their gold reserves in May, but this news failed to rally gold prices, said HSBC Holdings plc (HSBC), a British multinational bank, in a commodities research note.
According to the IMF data, Russia’s gold reserves advanced by 15.5 tons to 911.3 tons in May this year and Turkey’s yellow metal holdings raised by 5.692 tons to 244.986 tons……………………………………….Full Article: Source

Jim Rogers: Use commodity ETFs to profit from supply shortages

Posted on 28 June 2012 by VRS  |  Email |Print

Legendary investor Jim Rogers on Wednesday told financial advisors their most important challenge is to learn about commodities because real assets will be the best place to invest the next 10 years.
“Commodities are just an unknown asset class at the moment,” Rogers said at the Alts Virtual Summit co-produced by ETFtrends. “A huge amount of money will come into commodities the next decade as people learn about supply shortages. Very few people are invested in real assets.”……………………………………….Full Article: Source

Best/worst daily ETF returns: Commodities shine

Posted on 28 June 2012 by VRS  |  Email |Print

UBS Coffee Total Return ETN was the best-performing exchange-traded product, riding the coattails of a rising stock market and leading a pack of other commodities funds that also rose.
JO was also buoyed by strength in the coffee futures market, as a wave of buying interest met technical indicators that pushed coffee values through four-week highs. JO gained 4.82 percent on the day………………………………………..Full Article: Source

Ghana not ready for commodity exchange

Posted on 28 June 2012 by VRS  |  Email |Print

Global trade experts have expressed doubts about the ability of Ghana to effectively float a Commodities Exchange system at the scheduled time being promised by government and capital market officials in the country.
It is feared that the country may overshoot the timelines that it has set for itself. Capital market regulator, the Securities and Exchange Commission (SEC), has set a 2013 deadline while some ambitious government officials have indicated a starting date not exceeding the close of 2012………………………………………..Full Article: Source

Puzzling currency trends emerge from commodity countries

Posted on 28 June 2012 by VRS  |  Email |Print

Puzzling currency trends have emerged from commodity-dependent countries, with many currency rates holding strong despite a slump in the price of oil and other minerals, the Financial Times has reported.
Forex traders have been puzzled by recent currency trends, with ‘commodity currencies’ faring well despite a drop in commodity demand. Currencies in Australia, Canada, New Zealand and Norway have fallen just four per cent against the greenback, in contrast to steep drops in commodity prices, with Brent crude falling 26 per cent, thermal coal sliding 18 per cent and copper dropping 12 per cent………………………………………..Full Article: Source

Emerging-market currencies on hold

Posted on 28 June 2012 by VRS  |  Email |Print

Emerging-market currencies are mixed, with most continuing to hold steady ahead of a key European Union summit Thursday. The Mexican peso, however, bucked the trend on the back of strong U.S. data. It is trading at 13.6070 pesos per dollar, up 1.13% on the day.
“There is hope [that] politicians from the euro zone, or ECB, Fed or other major central bank could be finding something to prop up the markets,” said Guillaume Salomon, emerging market strategist for Societe Generale………………………………………..Full Article: Source

Looking for silver lining as commodity prices slide

Posted on 27 June 2012 by VRS  |  Email |Print

Global economic weakness and disappointment with the Fed spook investors, but some stocks will benefit from lower energy costs. True, given the extremely volatile price trends in commodities, the line between a bull and bear market can be crossed several times in any given year.
And some commodities — like corn — have still seen their prices surge recently. This time around, however, the kind of bearishness doesn’t only reflect supply/demand fundamentals in each market — soybeans, say, or copper — but also investors’ views of the broad economy and the confidence that they have in policymakers to restart growth………………………………………..Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Commodity super-cycle sunset

Posted on 27 June 2012 by VRS  |  Email |Print

Edward MorseDon’t panic. the commodity super-cycle is not about to collapse … it’s just come to an end in many parts of the complex.
Many have foreseen a slow decline in commodity prices and the sharpening differentiation among commodities, rather than a sudden collapse as commodity returns take divergent paths; hence our continued recommendation to actively select and manage exposures amid heightened macro risks………………………………………..Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

World oil supply up but spare capacity tight: EIA

Posted on 27 June 2012 by VRS  |  Email |Print

World oil inventories have risen over the past two months, aided by increased output from Iraq and Libya, but spare production capacity remains tight, the U.S. government said on Tuesday.
Global fuels output exceeded consumption by an average of 1 million barrels per day in May and June, helping to push oil inventories higher and prices lower, the Energy Information Administration said in a report, obtained by Reuters ahead of its publication………………………………………..Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Global oil inventories up in May, June

Posted on 27 June 2012 by VRS  |  Email |Print

Global oil inventories rose by an average of 1 million barrels a day in May and June, reflecting easing of tightness in the world oil demand, U.S. government forecasters said Tuesday.
The Energy Information Administration, in a report assessing oil market fundamentals in countries outside Iran, said “the global oil market has loosened” since the end-April report. EIA’s bimonthly assessments for Congress meet a requirement of legislation imposing stricter sanctions on Iran’s oil trade………………………………………..Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Oil trades below $80 a fifth day on U.S. stockpile gain

Posted on 27 June 2012 by VRS  |  Email |Print

Oil traded below $80 a barrel for a fifth day in New York as rising U.S. crude stockpiles stoked speculation demand will falter, countering signs that output from Iran and Norway will be disrupted.
Futures swung between gains and losses after the American Petroleum Institute said inventories rose 507,000 barrels last week. A government report today is forecast to show supplies slid 1.3 million barrels after unexpectedly climbing to a 22- year high the prior week………………………………………..Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Why oil prices are likely to fall another 30pct

Posted on 27 June 2012 by VRS  |  Email |Print

It was just several months ago that West Texas Intermediate was topping out at $110 a barrel, with Brent Crude was around $130 a barrel.
With the ECB having recently announced the operation long-term refinance and economic data beginning to improve the S&P 500 and its tracking exchange traded fund, SPY (SPY), rallied over 20% during the first four months of the year. Market leaders such as Apple (AAPL) were up over 30% during the first quarter of the year as well………………………………………..Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Falling oil prices put Iran over U.S. sanctions barrel

Posted on 27 June 2012 by VRS  |  Email |Print

For most of this year, the threat of tough U.S. sanctions on Iran, the world’s third-largest oil exporter, helped push crude oil prices higher and higher, adding a menacing headwind for struggling global economies.
But in the past few weeks, a combination of higher output from Iran’s rival Saudi Arabia and economic troubles in China and Europe have pushed oil prices down 25 percent, putting the threat of sanctions back squarely on Iran………………………………………..Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

‘Negative forecast’ remains for bullion

Posted on 27 June 2012 by VRS  |  Email |Print

Spot market prices to buy gold traded just above $1,580 an ounce throughout Tuesday morning’s London session, up around 0.6% on last week’s close following gains the previous day.
Prices to buy silver traded in a tight range around $27.50 an ounce – 2.1% up on the week so far. “After last week’s bearish price action it is hard to get excited about a sustained rally [for gold],” says the latest note from technical analysts at bullion bank Scotia Mocatta………………………………………..Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Is gold back in favor with money managers?

Posted on 27 June 2012 by VRS  |  Email |Print

Gold appears to be back in favor with money managers, who have boosted net long positions to the most in six weeks, but the bullish case for the precious metal seems to be shaky at best. Net longs rose by about 4 percent to 104,646 lots in the week to June 19, according to the Commodity Futures Trading Commission.
But for these bets to pay off, two things need to happen. Firstly, a replay of the crisis that sent spot gold to a record $1,920.30 an ounce last September, in the form of worsening sovereign debt woes in Europe and a weakening US economic outlook that leads to a fresh round of quantitative easing………………………………………..Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Russia lifts gold reserves by 15.5 tons in May, Turkey by 5.7 tons: IMF

Posted on 27 June 2012 by VRS  |  Email |Print

Russia’s gold reserves advanced by 15.5 tons to 911.3 tons in May this year and Turkey’s yellow metal holdings raised by 5.692 tons to 244.986 tons, as per latest International Monetary Fund’s (IMF) international finance statistics report.
According to the IMF data, Ukraine and Kazakhstan also increased their holdings of the gold in May when the metal averaged $1,587.68 per ounce. Ukraine’s gold reserves rose by 2.1 tons to 32.7 tons and Kazakhstan boosted their yellow metal reserves by 1.8 tons to 100 tons………………………………………..Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Platinum demand to substantially outstrip supply in 2012 - CPM

Posted on 27 June 2012 by VRS  |  Email |Print

“The platinum market is expected to be in a substantial deficit this year and palladium could fall into a deficit, due to lower South African and Russian output,” CPM forecast Tuesday in its CPM Group Platinum Group Metals Yearbook 2012.
“Rhodium’s surplus is expected to decline in 2012, similar to platinum and palladium, mostly due to a decline in mine production in South Africa, the largest producer of PGMs,” said the New York City-based commodities consultants………………………………………..Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Aluminium prices low but Indian companies getting high premiums

Posted on 27 June 2012 by VRS  |  Email |Print

Even as Vedanta and Nalco bagged higher premiums for the lightweight metal, signalling a tightening market and limited metal availability, Novelis’ new $100 million plant in China is set to boost demand.
London-listed mining group Vedanta Resources said it has sold 3,000 tonnes of aluminium ingots at a premium of $220 a tonne over the London Metal Exchange (LME) price in the Asian market………………………………………..Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Extreme weather hits commodity ETFs

Posted on 27 June 2012 by VRS  |  Email |Print

Dry spells in the US and India have pushed up agriculture commodities prices, in turn fuelling ETFs tracking related indices. Exchange-traded products (ETPs) tracking wheat, corn and other agricultural commodities surged forward last week due to adverse weather conditions in some of the world’s major grain producing regions.
In the US and Ukraine, dry weather raised concerns that corn and wheat crop yields would be substantially less than anticipated. In particular, the US is set to record its driest summer since 1988………………………………………..Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

ETFs for commodity centric countries

Posted on 27 June 2012 by VRS  |  Email |Print

The evolution of the ETF industry has brought forth previously difficult-to-reach corners of the market to the fingertips of mainstream investors. Commodities in particular have seen a surge in popularity as investors have embraced the exchange-traded product wrapper as the preferred means for accessing this potentially lucrative asset class.
The ETF universe is vast however, and investors now have multiple instruments at their disposal, allowing them to implement a multitude of investment strategies in a variety of ways……………………………………….Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

banner
June 2012
S M T W T F S
« May   Jul »
 12
3456789
10111213141516
17181920212223
24252627282930