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Commodities Briefing 08.Mar 2011

Posted on 08 March 2011 by VRS |  Email |Print

From Commodity Online: Global commodities investment guru Jim Rogers says he is very bullish on commodities, especially in all the agricultural commodities, crude oil and precious metals like gold and silver.
In an interview to Bloomberg, Rogers, who is a bull in commodities market, said that crude oil prices will continue to rise for the simple reason that the world is running out of all the known reserves of oil……………………………………….Full Article: Source

Posted on 08 March 2011 by VRS |  Email |Print

From Dow Jones: Rising prices for oil and other commodities are largely the result of the growing global economy and turmoil in the Middle East, rather than U.S. monetary policy to preserve low interest rates, a leading Fed policy maker said Monday.
Charles Evans, president of the Federal Reserve Bank of Chicago, acknowledged that soaring prices for oil and other commodities are a headwind for the U.S. economy……………………………………….Full Article: Source

Posted on 08 March 2011 by VRS |  Email |Print

From BBC: US crude oil prices have hit a new two-and-a-half year high amid fears Libya could be facing a full-blown civil war. US light crude rose by $1.95 to $106.75 a barrel, the highest since September 2008, before falling back sharply.
Brent crude gained $2.43 to $118.4, close to recent highs, before it also slipped back……………………………………….Full Article: Source

Posted on 08 March 2011 by VRS |  Email |Print

From Telegraph: Oil’s march towards $120 a barrel sparked a frantic day across financial markets, as Opec members prepared to increase production and investors seeking a “safe haven” drove the price of gold to a fresh high.
Fears were intensified as Libya witnessed a day of fierce clashes between forces loyal to Colonel Gaddafi and those trying to topple his dictatorship, while in Saudi Arabia, the region’s biggest oil producer, activists renewed calls for a day of protest later this week……………………………………….Full Article: Source

Posted on 08 March 2011 by VRS |  Email |Print

From Reuters: OPEC ministers are holding informal consultations about oil prices and the Libyan crisis, but the group is not planning to hold an emergency meeting, an OPEC delegate said on Monday.
The Organization of the Petroleum Exporting Countries normally holds two ordinary meetings a year and has maintained that oil supplies are adequate. The next ordinary OPEC meeting is in June……………………………………….Full Article: Source

Posted on 08 March 2011 by VRS |  Email |Print

From Bloomberg: The European Union will recommend stepping up its energy savings and offer the option of withholding carbon permits to curb a surplus in its emissions- trading system, three people familiar with the matter said.
The EU may exceed its current goal and lower carbon discharges by 25 percent in 2020 compared with 1990 levels if it delivers on commitments to save energy and boost the use of renewables, curbs emissions from transport and invests in low- carbon infrastructure, said the people, who declined to be identified, citing EU policy……………………………………….Full Article: Source

Posted on 08 March 2011 by VRS |  Email |Print

From Chinadaily.com.cn: China will surpass the United States as the world’s largest consumer of uranium during the 2020s as the nation’s imports rise sharply to feed a growing nuclear industry, a high-level energy official told China Daily.
But Qian Zhimin, deputy director of the National Energy Administration, insisted that forward planning means China’s rising demand will not cause the price of uranium to surge worldwide. ………………………………………Full Article: Source

Posted on 08 March 2011 by VRS |  Email |Print

From Reuters: Gold prices have cooled-off since their historical highs in late 2010; however, most of the key macroeconomic price drivers point to continued momentum for bullion.
Continuing weakness in the dollar, low to negative real interest rates, and rising global inflation expectations are likely to help extend gold’s rally……………………………………….Full Article: Source

Posted on 08 March 2011 by VRS |  Email |Print

From Mineweb.co.za: It seems that any talk of a peace deal in Libya was, to say the least, premature and fighting appears to be escalating. If matters continue the way they are it seems likely that Libyan oil supplies will be cut off completely, and some oil installations, damaged or destroyed in the fighting, may end up being offline for some time.
So far, although the oil price has indeed risen, the Saudi Arabian promise to turn on the taps and meet any shortfalls, has mitigated this. But, even with this promise there has to be enough nervousness about possible further Middle Eastern and North African unrest to keep the pot boiling for now……………………………………….Full Article: Source

Posted on 08 March 2011 by VRS |  Email |Print

From Reuters: Junior resource stocks, while no longer cheap, still present speculators with big opportunities as an unprecedented rally fuels precious metals and the companies that find them, said veteran investor Doug Casey.
Casey, a legendary investment guru who founded and chairs his own research firm, said he would not be surprised if gold hits $5,000 an ounce in the next couple of years, as paper currencies in the United States, Europe, and Japan drop in value……………………………………….Full Article: Source

Posted on 08 March 2011 by VRS |  Email |Print

From Commodity Online: Investment demand for silver is soaring in China as the white metals is increasingly looked at as jewellery, industrial metal and an essential component in electronics and automotive industry.
In 2010, China imported an unprecedented 14 percent of global silver as the demand for silver has been growing in the country. Till last year, China has been historically been a net exporter of silver……………………………………….Full Article: Source

Posted on 08 March 2011 by VRS |  Email |Print

From Benzinga.com: Last week is another strong week that saw strong ascent of commodity ETFs across the board (other than natural gas ETF (UNG)). US Oil (USO) and Silver (SLV) shot up more than 6% while broadbase commodity ETF (DBC) gained 2.56%.
The unrest in middle east drove oil prices higher again: WTI crude oil reached $104 per barrel. According to an article by Jason Zweig on The Wall Street Journal, $1.4 billion new money was poured into energy related investments in just one week ended on last Wednesday. Speculation is abound. ………………………………………Full Article: Source

Posted on 08 March 2011 by VRS |  Email |Print

From Seekingalpha.com: When it comes down to oil exchange traded funds (ETFs), you can go a few different routes: you may choose direct exposure through energy commodities or energy producers, or there’s the indirect route with oil-rich countries.
But can that historic correlation between oil ETFs and oil-rich countries be counted on? It depends……………………………………….Full Article: Source

Posted on 08 March 2011 by VRS |  Email |Print

From Reuters: “Just one word … plastics.” That well-known line from the classic 1967 movie “The Graduate” may sum up the recent investment strategy of some top hedge fund managers, including James Dinan and David Einhorn.
A wave of managers snapped up shares of LyondellBasell Industries, which makes chemicals like propylene and polyethylene, the stuff that goes into plastics………………………………………Full Article: Source

Posted on 08 March 2011 by VRS |  Email |Print

From Bloomberg: Global derivatives trading on exchanges rose the most since 2003 last year as volume for contracts listed to commodities surged, the World Federation of Exchanges said.
Volume rose 25 percent to 22.4 billion contracts last year, according to a statement from the Paris-based trade group, which has 52 members that list a total of 45,000 stocks around the world……………………………………….Full Article: Source

Posted on 08 March 2011 by VRS |  Email |Print

From Reuters: Mellon Capital Management has launched a commodities fund aimed at a growing number of inflation-wary institutional investors, its manager said on Monday.
The Commodity Alpha Long-Bias Strategy initially was conceived as a diversification vehicle — an addition to equities and fixed-income exposure, but increasingly clients are asking about the potential for higher-than-normal inflation and how to manage it, said Mellon Capital managing director Eric Goodbar……………………………………….Full Article: Source

Posted on 08 March 2011 by VRS |  Email |Print

From Bloomberg: The Commodity Futures Trading Commission is “out of step” with U.S. and international efforts to write rules for the derivatives market, Commissioner Jill Sommers told bankers at a conference in Washington.
CFTC and Securities and Exchange Commission proposals for governing new swap-execution facilities may lead to inconsistent regulation, Sommers said today in a speech at the Institute of International Bankers annual conference in the U.S. capital……………………………………….Full Article: Source

Posted on 08 March 2011 by VRS |  Email |Print

From WSJ: Big investors looking to hedge themselves against freak “Black Swan” financial events are increasingly turning to the currency market.
Using currencies as a way to hedge risk—even for stocks or bonds—is less expensive than more traditional hedging methods such as trading stock-market options or top-rated government bonds, traders say………………………………………Full Article: Source

Posted on 08 March 2011 by VRS |  Email |Print

From Dow Jones: Peru’s sol is seen continuing to remain strong over the next three months and longer, despite upcoming elections, as robust economic growth and high export prices maintain a steady flow of dollars into the country.
Estimates for the currency this year vary from stable to modest appreciation from its current level of PEN2.77 to the U.S. dollar. ………………………………………Full Article: Source

Posted on 08 March 2011 by VRS |  Email |Print

From Ctv.ca: Currency traders are betting on a lower U.S. dollar as interest rates in other leading economies look set to rise while the Federal Reserve stands pat, a glimpse of what could become a more enduring shift as market faith in the greenback slowly ebbs away.
When European Central Bank president Jean-Claude Trichet all but said last Thursday that he plans to raise interest rates in April to keep inflation in the 17-country euro zone from accelerating, a big gap opened up in expectations for monetary policy……………………………………….Full Article: Source

Posted on 08 March 2011 by VRS |  Email |Print

From Bloomberg: India, the biggest milk producer and consumer, is seeking to double output growth to become a “major player” globally and gain from rising prices, according to the world’s largest dairy group by members.
The country expects to boost output by 10 percent annually in two to three years, R.S. Sodhi, managing director of Gujarat Cooperative Milk Marketing Federation Ltd., said………………………………………Full Article: Source

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