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Commodities Briefing 21.Dec 2009

Posted on 21 December 2009 by VRS |  Email |Print

From Ameinfo.com: The outlook for gold investment remains positive and will continue to be underpinned by inflation, economic uncertainty and investors’ search for diversification, Rozanna Wozniak, Investment Research Manager at the World Gold Council stated in a webinar on Gold Demand Trends.
Wozniak presented an analysis of Q3 2009 gold demand supply dynamics and trends to investors and traders via a webinar on arabianbusiness.com jointly hosted with Dubai Gold Securities………………………………..Full Article: Source

Posted on 21 December 2009 by VRS |  Email |Print

From Theaureport.com: The U.S. dollar has reigned as the world’s reserve currency for more than 60 years. That’s a real anomaly in the history of paper money, according to Stansberry & Associates Investment Research founder Porter Stansberry, but the dollar’s days on the throne are numbered.
With a sea-change in the monetary system on the horizon—and drawing ever-nearer as more and more U.S. creditors turn toward hard assets and away from paper dollars……………………………….Full Article: Source

Posted on 21 December 2009 by VRS |  Email |Print

From Livemint.com: Gold prices have been rising sharply, breaching the $1,000 barrier and in recent weeks rising towards $1,200 an ounce and above. Today’s “gold bugs” argue that the price could top $2,000.
But the recent price surge looks suspiciously like a bubble, with the increase only partly justified by economic fundamentals………………………………..Full Article: Source

Posted on 21 December 2009 by VRS |  Email |Print

From Commodityonline.com: India’s exports have shown a healthy growth towards the end of the year with gems and jewellery, ready made garments and petroleum products faring better than others. Gems and jewellery exports recorded a growth of 40 percent to USD 2.15 bn while readymade garment exports rose to US 727 mn from USD 686 mn on an annualized basis.

India Government has said that the GDP growth could top 7.75% this fiscal (2009-10) even as food inflation continues to cause concern to policy makers………………………………..Full Article: Source

Posted on 21 December 2009 by VRS |  Email |Print

From Indiatimes.com: Silver has outshone gold’s performance this year and will continue to do so in 2010 as the metal responds to the prospect of a surge in industrial demand, Angel Commodities Broking said

Silver ready (.999 fineness) prices are hovering around Rs 27,850 per kg in the Mumbai bullion market………………………………..Full Article: Source

Posted on 21 December 2009 by VRS |  Email |Print

From Bloomberg: Crude oil traded near $73 a barrel in New York after rising last week amid optimism global demand will increase as the world economy recovers from its worst recession since World War II.

Oil prices may gain this week on expectations that increasing fuel demand in the U.S., the world’s largest energy consumer, will reduce inventories, according to a Bloomberg News survey………………………………..Full Article: Source

Posted on 21 December 2009 by VRS |  Email |Print

From Reuters: OPEC will keep supply unchanged when it meets on Tuesday in Angola, Algeria’s Energy Minister Chakib Khelil said on Sunday.

“There will be no change in OPEC supply of crude oil. OPEC will not reduce supply and it will not increase supply,” Khelil told reporters………………………………..Full Article: Source

Posted on 21 December 2009 by VRS |  Email |Print

From Dow Jones: Indonesia could rejoin the Organization of the Petroleum Exporting Countries if its oil production were to exceed consumption again, Evita Legowo, director general of oil and gas at the Energy and Mineral Resources Ministry of Indonesia, said Sunday.

The country so far this year has been producing an average of 960,000 barrels of crude a day, which it hopes to increase to 965,000 barrels a day next year, Legowo told Dow Jones………………………………..Full Article: Source

Posted on 21 December 2009 by VRS |  Email |Print

From Telegraph: The Copenhagen agreement on climate change will pave the way for New York and Chicago to overtake London as the global centre of carbon trading, according to PricewaterhouseCoopers.
Political leaders signed a watered-down agreement this weekend with no future roadmap to international emissions trading………………………………..Full Article: Source

Posted on 21 December 2009 by VRS |  Email |Print

From AP: An unlikely source of energy has emerged to meet international demands that the United States do more to fight global warming: It’s cleaner than coal, cheaper than oil and a 90-year supply is under our feet.

It’s natural gas, the same fossil fuel that was in such short supply a decade ago that it was deemed unreliable. It’s now being uncovered at such a rapid pace that its price is near a seven-year low………………………………..Full Article: Source

Posted on 21 December 2009 by VRS |  Email |Print

From Hardassetsinvestor.com: Master limited partnerships (MLPs), or exchange-traded limited partnerships, are an income investor’s dream. Offering steady, high yields that average around 7-8 percent, these companies tend to operate in the most stable and reliable sectors of the energy industry, such as pipelines, which makes them relatively immune to oil shocks or other commodity price swings.

Haven’t heard of them? It’s time to brush up, says Elliott Gue, editor of the MLP Profits newsletter. Editor of The Energy Strategist and a widely recognized energy expert, Mr. Gue knows his MLPs………………………………..Full Article: Source

Posted on 21 December 2009 by VRS |  Email |Print

From WSJ: The dollar is expected to extend its rally against the euro and the yen this week amid credit concerns in the euro zone and worries about deflation in Japan.

Pressure on the euro has escalated after downgrades of Greece’s credit rating inflamed worries about the fiscal health of the weaker economies in the euro zone………………………………..Full Article: Source

Posted on 21 December 2009 by VRS |  Email |Print

From Financialexpress.com: The world is showing a major shift in currency alignments. The dollar’s dismal run post September 15, 2008 has added fuel to the call for a new global reserve currency. To check currency-value uncertainty and dollar’s hegemony, countries are increasingly exploring an alternative that is less prone to volatility and also seeking ways to diversify portfolios.

With the demand for a new currency order getting shriller, particularly from the BRIC stable, the idea has also found favour with Nobel Prize-winning economist Joseph Stiglitz, who heads a UN expert panel analysing the global financial crisis and recommending reforms………………………………..Full Article: Source

Posted on 21 December 2009 by VRS |  Email |Print

From Marketoracle.co.uk: The Euros showing signs of stress lately. The Dollar climbed to $1.43, its highest in three months as the fiat race to the bottom continues. Greece’s sovereign debt was downgraded with the third generation of a Papandreou residing at the helm in what looks to be another Greek catastrophe.
Spain somehow continues to mask the mess it finds itself in. At some point the poison will inevitably seep through………………………………..Full Article: Source

Posted on 21 December 2009 by VRS |  Email |Print

From Reuters: Royal Bank of Scotland has narrowed the bidders for its commodities trading joint venture to three and will announce a winner within weeks, the Sunday Times reported, citing sources close to the negotiations.

U.S. bank JPMorgan, Australia’s Macquarie and Deutsche Bank are competing to buy the 51 percent stake in RBS Sempra Commodities, which could fetch an estimated 2.5 billion pounds ($4 billion), the newspaper said………………………………..Full Article: Source

Posted on 21 December 2009 by VRS |  Email |Print

From Ninemsn.com.au: As coordinated global fiscal stimulus programs helped stabilise global economic growth in 2009, there was a recovery in market values and in investor risk appetite, an outcome UBS notes was instrumental in providing support to commodity prices after the global financial crisis-driven weakness of 2008.

The price changes were of different magnitude among the different commodities however, UBS noting base metal prices generally recovered to close to pre-correction levels with copper, aluminium and zinc particularly strong, while coal and iron ore prices were weaker in Japanese financial year 2009 than was the case in 2008 given the contract system and the timing of agreements………………………………..Full Article: Source

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