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Commodities Briefing 30.Dec 2009

Posted on 30 December 2009 by VRS |  Email |Print

From Cnbc.com: The price of many commodities saw strong gains in 2009 with gold finding new highs and oil recovering a large chunk of its drop in the second half of 2008. But now is not the time to take commodities out of your portfolio.
It is vital that investors include commodities in their portfolio, according to Michael Yoshikami, president & chief investment strategist at YCMNet Advisors. Yoshikami likes basic consumable commodities such as corn as he thinks they will do well as the standard of living rises in emerging markets……………………………………Full Article: Source

Posted on 30 December 2009 by VRS |  Email |Print

From Asianage.com: Though 2009 witnessed a recessionary trend for the most part of the year, the investors in commodities saw a price appreciation in the range of 44 per cent to 127 per cent.

According to commodity experts the weakness in the dollar boosted the prices of precious metals, while the rise in demand from the largest consumer China, helped the investors in base metals to earn handsome returns……………………………………Full Article: Source

Posted on 30 December 2009 by VRS |  Email |Print

From Marketoracle.co.uk: The dollar finally broke through resistance at 23, which has turned into support. Price is backing up and testing support.

The CCI index at the bottom of the chart has gone from overbought (+200) to 89. When an asset moves from being this overbought to back below 100, it often signals a consolidation/correction is likely……………………………………Full Article: Source

Posted on 30 December 2009 by VRS |  Email |Print

From Worldcurrencywatch.com: The U.S. dollar may be rallying for now and may even continue into January. But come February we are about to hit a major roadblock for the buck. Either we will find out that President Obama lied to all of us, or he will signal another major downturn in the U.S. Dollar.

Why you ask? Ah! Gather around and settle down with your cup of Joe to see what’s about to unfold……………………………………Full Article: Source

Posted on 30 December 2009 by VRS |  Email |Print

From Benzinga.com: The year 2009 saw a sharp rise in commodity prices across the world. The new highs made by gold and oil, regaining a major chunk of their previous decline, stood out in 2009. While some people may consider taking profits, this may not be the right time to do so.

With the global economy recovering and spending levels improving, living standards in the emerging economies are bound to rise in the forthcoming months. As a result, the price of consumable commodities is likely to rise……………………………………Full Article: Source

Posted on 30 December 2009 by VRS |  Email |Print

From Istockanalyst.com: Let’s identify the conditions that occurred in 2009, which will lead forward into an assessment of the 2010 outlook for metals and oil. As we entered 2009, we had a major asset crash due to the events in toxic debt. In response the Fed initiates major bailout programs.
In the loosest monetary policy of modern times, interest rates collapse to a low in late 2009. Look at the interest rate collapse into the end of 2008 on the TBT chart (20 year Inverse Short Bond ETF)…………………………………..Full Article: Source

Posted on 30 December 2009 by VRS |  Email |Print

From Marketoracle.co.uk: You do not hear that often the word trend capture in commodity trading. Most of the time it is called Trend following.
The difference however depending on how the commodity trader or commodity trading advisor trades there are times big draw downs occur as well as big profits are given back in trend following. However this has to be a given in trend following……………………………………Full Article: Source

Posted on 30 December 2009 by VRS |  Email |Print

From Livemint.com: The 2000s have seen gold outperform both stocks and commodities. The outperformance hasn’t been uniform, of course. As the chart shows, crude oil did much better than gold during the boom years between 2004 and 2007 and went on to scale a spectacular peak in 2008 before collapsing.

It’s only in the last one year or so that gold has decisively done better than crude oil. The chart shows, however, that the returns from gold continued to be higher than for the Sensex till the middle of 2006, when the boom was already well advanced……………………………………Full Article: Source

Posted on 30 December 2009 by VRS |  Email |Print

From Stuff.co.nz: Gold has soared to record highs and there is no shortage of those wanting to get exposure to the precious metal, but will it all end in tears for investors?

Gold shone brightly this year, but analysts are divided on whether 2010 could see some of the gloss fade……………………………………Full Article: Source

Posted on 30 December 2009 by VRS |  Email |Print

From Commodityonline.com: Will 2009 be known as the year when speculators ballooned gold prices to a historic high of $1,227 per ounce? The rise and rise of gold price in the last one year has been receiving applause from gold bugs, derision from ant-gold investors and cheers from gold speculators.
But who is right and who is wrong on gold? Is speculation the root reason for the high prices of gold?…………………………………..Full Article: Source

Posted on 30 December 2009 by VRS |  Email |Print

From Fin24.com: Platinum, once the belle of the ball, has had a quiet year as it stood by watching its older sister gold bask in the glory that accompanied investors’ return to precious metals.

After shedding almost half of its value in 2008, platinum spent the year climbing steadily back to December 2007 levels despite weak physical demand……………………………………Full Article: Source

Posted on 30 December 2009 by VRS |  Email |Print

From Mineweb.com: London copper prices rallied almost 3 percent to a 16-month peak on Tuesday after the Christmas break, chasing gains made in Shanghai over the holiday period.

Strike votes at two large Chilean copper operations, Codelco’s Chuquicamata mine and Xstrata PLC’s Altonorte smelter, are seen lifting sentiment as the year grinds to a close and investors assess what next from markets that have rallied around 140 percent this year,…………………………………..Full Article: Source

Posted on 30 December 2009 by VRS |  Email |Print

From Bloomberg: Crude oil traded near $79 a barrel after rising for a fifth day on forecasts for cold weather in the U.S. and signs the economy in the world’s largest energy- consuming nation may be recovering.

Crude climbed 10 cents to $78.87 a barrel yesterday as heating oil rose to a two-month high on the outlook for below- normal temperatures and as U.S. consumer confidence improved in December for a second month……………………………………Full Article: Source

Posted on 30 December 2009 by VRS |  Email |Print

From Bernama: World oil production demand has dropped for the first time since the early 1980’s for the second successive year, as the world economy remains confronted with the deepest and most wide-spread contraction sin since the 1940’s, the Namibian Press Agency (Nampa) reported Tuesday.

This observation was made at the 155th extra-ordinary meeting of the conference of the Organisation of Petroleum and Oil Exporting Countries (OPEC) that took place in the Angolan capital, Luanda last week……………………………………Full Article: Source

Posted on 30 December 2009 by VRS |  Email |Print

From Tempointeractive.com: Indonesia will not rejoin the Organization of the Petroleum Exporting Countries (OPEC) in the next five years.

The decision to rejoin OPEC, said the Director General of Oil and Gas Evita Herawati Legowo, is influenced by domestic oil production levels……………………………………Full Article: Source

Posted on 30 December 2009 by VRS |  Email |Print

From BBC: Russia has signed an oil transit deal with Ukraine, apparently ending a threat to cut supplies to EU countries.

Moscow has agreed to a 30% increase in the transit tariff for oil piped to Europe through Ukraine, according to Ukraine’s state energy firm Naftogaz……………………………………Full Article: Source

Posted on 30 December 2009 by VRS |  Email |Print

From UPI: South Korea’s carbon dioxide emissions increased 2.9 percent — totaling 620 million tons — in 2007, the government announced Monday, Xinhua reports.

That represents the highest growth rate since 2002 and is nearly three times faster than the growth rate in 2006. It is also a 103-percent increase from 1990 greenhouse gas emission totals……………………………………Full Article: Source

Posted on 30 December 2009 by VRS |  Email |Print

From Telegraph: Already Gordon Brown is pushing for another meeting of world leaders to sort out the mess as soon as possible. However he is dead set against the UN process that ended in such confusion last time.
Instead it is likely that high level meetings, many behind closed doors, will be held throughout the year under the guise of the Major Economies Forum, G8 and other groupings……………………………………Full Article: Source

Posted on 30 December 2009 by VRS |  Email |Print

From Etfdb.com: As the ETF industry has continued its rapid expansion, there has been much debate surrounding the sustainability of the current growth and the potential saturation of the market.
The first ETFs were relatively simple products, offering exposure to the world’s most widely-followed equity benchmarks. But the last ten years have seen hundreds of new ETFs hit the market that go far beyond “plain vanilla.” …………………………………..Full Article: Source

Posted on 30 December 2009 by VRS |  Email |Print

From Etfdb.com: To most, cotton is a part of everyday life, a part of the textiles found in every wardrobe. But after prices surged in 2009, some investors have begun making cotton a part of their portfolio as well, and are turning to cotton ETFs as a way to gain exposure.
While this soft commodity has the potential to deliver big gains and add diversification benefits, it comes with a fair amount of risk as well……………………………………Full Article: Source

Posted on 30 December 2009 by VRS |  Email |Print

From Channelnewsasia.com: The US dollar strengthened against the euro on Tuesday, lifted by US data suggesting the world’s biggest economy is slowly emerging from the worst recession in decades.

The European single currency traded at 1.4354 dollars at 2300 GMT, down from 1.4376 dollars late Monday……………………………………Full Article: Source

Posted on 30 December 2009 by VRS |  Email |Print

From WSJ: Jeffrey Harris, the chief economist at the U.S. Commodity Futures Trading Commission who last year said he could find no direct link between speculation and high energy prices, is leaving the agency and returning to academia.

Mr. Harris’s departure comes at a critical time for the CFTC, which plans to unveil a major proposal to impose new trading limits on crude oil and other energy futures products……………………………………Full Article: Source

Posted on 30 December 2009 by VRS |  Email |Print

From Washingtonpost.com: Agriculture futures were mixed Tuesday on the Chicago Board of Trade. Wheat for March delivery dropped 9.75 cents to $5.41 a bushel, while March corn rose 1 cent to $4.17 a bushel and oats for March delivery added 4 cents to $2.69 a bushel.

January soybeans climbed 9 cents to $10.38 a bushel. Meanwhile, beef futures traded lower and pork futures were mixed on the Chicago Mercantile Exchange……………………………………Full Article: Source

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