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Commodities Briefing 14.Mar 2011

Posted on 14 March 2011 by VRS |  Email |Print

From Livemint.com: The economic damage wrought by the calamity is still unknown as Japan continues to struggle with its after effects and fears of nuclear radiation. The bourses had a volatile week over concerns of high crude prices, China’s rising trade deficit and inflation, an escalating conflict in Libya and protests in Saudi Arabia.
Friday’s devastating earthquake and tsunami in Japan have only added to the worries. The economic damage wrought by the calamity is still unknown as Japan continues to struggle with its after effects and fears of nuclear radiation. But the country is a major economy and exporter; a disaster of such magnitude here will likely influence global economic in dicators……………………………………….Full Article: Source

Posted on 14 March 2011 by VRS |  Email |Print

From Financialexpress.com: The earthquake, of magnitude 8.9, hit commodities prices across the board on fears over its impact on the world’s third largest consumer of commodities. Impact on the energy and commodities sector from Japan’s disaster:
The 19-component Reuters Jeffries CRB commodity price index was down about 0.8% . The price of gold was pushed higher as a result of the Japan earthquake. Spot gold rose to $1,424.05 an ounce………………………………………Full Article: Source

Posted on 14 March 2011 by VRS |  Email |Print

From Futuresmag.com: The BIS Quarterly Review for March 2011 discusses how expectations of higher growth in the advanced economies and surging commodity prices pushed up short-term inflation expectations.
Systemic importance: bank size is a simple yet reliable indicator of systemic importance. A bank’s total interbank lending and borrowing provide useful complementary information……………………………………….Full Article: Source

Posted on 14 March 2011 by VRS |  Email |Print

From Ninemsn.com.au: Crude oil prices slumped on Friday after a the earthquake in Japan, the world’s third-largest economy, raising fears of a shock to the global economic recovery.
Traders eyed lower consumption in Japan, the world’s third-largest oil importer and consumer, after a week of worrying about prices jumping due to Middle East instability……………………………………….Full Article: Source

Posted on 14 March 2011 by VRS |  Email |Print

From WSJ: Japan will have to import more oil, fuel and natural gas for electricity generation to make up for the shortfall caused by the shutdown of nuclear power plants after the earthquake. This will put upward pressure on global prices in markets already concerned about the availability of energy supplies amid widespread unrest in the Middle East.
Roughly a quarter of Japan’s electricity comes from nuclear generation, according to the EIA. About two-thirds is powered by conventional sources such as gas, petroleum and coal……………………………………….Full Article: Source

Posted on 14 March 2011 by VRS |  Email |Print

From AFP: Qatar’s Energy Minister Mohammed Saleh al-Sada said on Sunday that the world oil market was “comfortable” despite the conflict which has slashed output in producer country Libya.
“OPEC does not see the need for a meeting at the moment,” Sada, whose gas-rich country like Libya belongs to OPEC, told journalists when asked if the cartel needed an extraordinary session……………………………………….Full Article: Source

Posted on 14 March 2011 by VRS |  Email |Print

From Resourceinvestor.com: After soaring 35% in just six weeks, silver has driven trader enthusiasm to a fever pitch. Naturally after such a magnificent surge to new multi-decade highs, silver bullishness is off the charts. Expectations for continuing near-parabolic gains are nearly universal, with ebullient commentators coming out of the woodwork to predict spectacular near-term price targets.
This exuberance is certainly understandable, traders crave big gains which silver can provide in spades……………………………………….Full Article: Source

Posted on 14 March 2011 by VRS |  Email |Print

From Mineweb.co.za: Sprott Money executives Eric Sprott (chairman) and Larisa Sprott (president), sing the praises of “poor man’s gold” in this Gold Report interview seeing a three digit silver price ahead.
I’ve probably fallen a little short of my targets, but I think it’s going higher. Silver doesn’t have to hit $50 for everyone who’s involved with it to make outsized returns, but I thought it could reach $50 within the first half of this year. All the data supports the thesis that silver is undervalued……………………………………….Full Article: Source

Posted on 14 March 2011 by VRS |  Email |Print

From Thehindubusinessline.com: Natural calamity ? earthquake and tsunami in Japan ? has now been added to the already uncertain conditions in the global commodities markets caused by a host of factors including ongoing geopolitical concerns, volatile currency movements, creeping slowdown apprehensions and inflation fears.
No wonder, the price trajectory reflects divergent paths as fundamentals have somewhat receded into the background and non-fundamentals factors dominate……………………………………….Full Article: Source

Posted on 14 March 2011 by VRS |  Email |Print

From Barrons.com: In the short run, gold can be a safe haven in a time of crisis. We don’t know what the next crisis will be, but we have seen plenty of “black swan” events over the past two years alone; our markets and our world seem increasingly hard-wired to experience periods of crisis and calm. In this sense, gold can be seen as a short-term hedge, or a short-term speculative play on volatility.
Some may say that we’re heading for a period of stability, but that’s hard to believe. The Fed is desperately trying to stimulate the economy. Housing prices remain weak. Unemployment remains high. On the political side, the Middle East has been far from stable in recent weeks……………………………………….Full Article: Source

Posted on 14 March 2011 by VRS |  Email |Print

From Ninemsn.com.au: Can you have too much of a good thing? If the thing in question is gold, the answer is “yes”, according to De Nederlandsche Bank, the Dutch central bank. Gold has been in an established bull trend for several years, but the DNB recently went through the courts to order the Dutch glassworkers’ pension fund (SPVG) to sell the vast majority of its 13 per cent allocation to gold.
The glassworkers’ case turned on the distinction between gold as a commodity and as a monetary asset……………………………………….Full Article: Source

Posted on 14 March 2011 by VRS |  Email |Print

From Indiatimes.com: It’s been ages since consumers have been crying themselves hoarse over the stubbornly high prices of commodities. The unacceptable level of inflation has blown their financial planning strategies off course as soaring expenses burn a huge hole in their pockets.
So how would you like it if you were given an opportunity to make the culprits ? commodities in this case ? contribute to your kitty instead of eroding it?………………………………………Full Article: Source

Posted on 14 March 2011 by VRS |  Email |Print

From Odt.co.nz : We are all aware the price of petrol has risen sharply over the past two weeks. The prime reason has been the turmoil in the Middle East-North Africa region (Mena) which accounts for 35% of global oil production and the disruption could derail the wider global recovery.
At this stage, the greater Western powers, while concerned, are not interfering, letting them sort it out themselves. There are always companies, individuals and fund managers which see such disruptions as an opportunity to make money……………………………………….Full Article: Source

Posted on 14 March 2011 by VRS |  Email |Print

From Indiatimes.com: The Kotak group-promoted Ace Derivatives & Commodity Exchange plans to widen the basket of farm commodities it offers for trading. A top official said two new products could be shortly chosen from a list that includes guar seed, guar gum, cotton, crude palm oil and refined palmolein.
“We will approach Forward Markets Commission (FMC) within a week or so to seek their approval for launching the new products ,” said Dilip Bhatia, CEO of ACE……………………………………….Full Article: Source

Posted on 14 March 2011 by VRS |  Email |Print

From Reuters: Japanese authorities warned against the yen’s rise as the currency rallied broadly early in Asia on Monday following Friday’s devastating earthquake and tsunami in Japan.
Finance Minister Yoshihiko Noda said he is closely watching yen moves, while one of his senior staff vowed to take decisive steps on currencies if needed, signaling Tokyo’s readiness to step in to curb rapid yen rises……………………………………….Full Article: Source

Posted on 14 March 2011 by VRS |  Email |Print

From Bloomberg: Economists ignore volatile commodity prices when calculating inflation. The poorest families, who spend as much as 25 percent of their after-tax income on food and fuel, don’t have that luxury.
Rising prices “will shave a couple tenths off consumer spending, and the consumers that are going to get hit the most are at the lower end of the income scale,” said Michael Feroli, chief U.S. economist at JPMorgan Chase & Co. in New York……………………………………….Full Article: Source

Posted on 14 March 2011 by VRS |  Email |Print

From Iii.co.uk: China has been the growth story of the 21st century so far, taking the rest of the world by surprise with its ability to combine economic growth with social change. Investment has poured into infrastructure and industry through the stockmarket.
But now the word bubble is increasingly being used, as concern mounts that China’s growth is out of control……………………………………….Full Article: Source

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