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Commodities Briefing 03.May 2011

Posted on 03 May 2011 by VRS |  Email |Print

Jeremy SiegelNews of Osama bin Laden’s death is driving investors to sell commodities like oil and gold. And if it speeds up a political consensus that it’s time to withdraw American troops from Iraq and Afghanistan, it could be the trigger that bursts the commodity bubble.
To profit from that bursting commodity bubble, consider shorting three commodities exchange traded funds (ETFs). Why? ………………………………………Full Article: Source

Posted on 03 May 2011 by VRS |  Email |Print

Darin NewsomThe surprise announcement late Sunday that Usama bin Laden had been tracked down in Pakistan and killed by U.S. special forces is being viewed largely as a symbolic event unlikely to have a dramatic impact on the price of oil or other important commodities.
Like many symbolic events, the immediate impact was sharp. Investors around the world had an initial knee-jerk reaction Monday that could be summed up as follows: the world is a safer place with bin Laden dead. Oil and gold prices fell accordingly……………………………………….Full Article: Source

Posted on 03 May 2011 by VRS |  Email |Print

Traders who thought bin Laden’s death would reverse the months-long rally in oil and gold were sorely disappointed by the end of the day. Commodities markets didn’t let emotions run the show for long.
Prices for gold, silver, and other commodities might have tumbled Monday, but don’t bet that investors are feeling much safer now that Osama bin Laden has been killed……………………………………….Full Article: Source

Posted on 03 May 2011 by VRS |  Email |Print

The Reserve Bank of Australia’s (RBA) index of commodity prices in special drawing rights (SDR) terms rose 7.6 per cent in April, preliminary estimates from the central bank show.
“The largest contributors to the rise in April were increases in the estimated export prices of coking coal and iron ore, reflecting the movement to higher contract prices in the June quarter,” the RBA said in a note accompanying the data on Monday……………………………………….Full Article: Source

Posted on 03 May 2011 by VRS |  Email |Print

Leading indicators are signaling rising commodity prices over the medium term, the European Central Bank said in its annual report published Monday.
Medium-term prospects for commodity prices are likely linked to the international outlook for economic activity, the central bank remarked. “As the global recovery takes hold, the supply and demand balance in the oil market may tighten and non-oil commodity prices may face upward pressures,” the report observed……………………………………….Full Article: Source

Posted on 03 May 2011 by VRS |  Email |Print

High global crude oil and other commodity prices pose the biggest risk to India’s growth and inflation, said a report by Indian central bank Reserve Bank of India issued on Monday.
RBI highlighted the risk from high international commodity especially crude oil prices one day before it releases its monetary policy review……………………………………….Full Article: Source

Posted on 03 May 2011 by VRS |  Email |Print

Last week gold prices ended on a high note. The price of spot gold hit another record high of $1570 an ounce and the upward momentum looks set to continue. Gold has risen to new record nominal highs as the dollar continues to be sold in international markets.
Gold has eked out smaller gains in other fiat currencies but remains close to record nominal highs in euros, yen and pounds……………………………………….Full Article: Source

Posted on 03 May 2011 by VRS |  Email |Print

The months-long rally in commodity prices has sparked fears it could ignite inflation or cripple consumer spending. But a surprising trend is now sweeping the markets for some key materials: Prices are falling.
Goods from cotton to zinc that were highfliers late last year have turned into laggards in recent weeks. Several have logged double-digit-percentage declines in futures markets……………………………………….Full Article: Source

Posted on 03 May 2011 by VRS |  Email |Print

Money managers are making near-record bets on higher commodity prices, aligning themselves with Morgan Stanley after Goldman Sachs Group Inc. said investors should reduce most of their holdings.
Funds held a net 1.49 million futures and options in 18 commodities by April 26, 57 percent more than a year earlier, according to U.S. Commodity Futures Trading Commission data compiled by Bloomberg……………………………………….Full Article: Source

Posted on 03 May 2011 by VRS |  Email |Print

Commodities have probably been one of the hottest trades of 2011. Silver has led the pack, rising an astonishing to 55% since December 31, 2010. Crude oil is up a handsome 24%, while gold has been a bit of a laggard, gaining only 10% during the first four months of this year.
These are the headline commodities, but there are others that are noteworthy as well……………………………………….Full Article: Source

Posted on 03 May 2011 by VRS |  Email |Print

Despite operating against the backdrop of numerous events challenging the smooth operation of cross-border trade, major participants in the industry report growing optimism about global trade health this year. Rising fuel prices amid political instability in oil-producing countries is probably the top concern.
Of course, the recent earthquake and tsunami in Japan continues to pummel the supply chain relative to Japanese imports and exports supporting other global manufacturing……………………………………….Full Article: Source

Posted on 03 May 2011 by VRS |  Email |Print

Gold fell from a record high Monday and silver notched its biggest one-day loss in seven weeks after the killing of Osama bin Laden sapped the safe-haven premium out of precious metals.
Silver bounced off early lows after falling as much as 11 per cent, as speculators scaled back their bullish bets on increased futures margins and a technical overhang after a 170 per cent rally over the last 12 months to a record high last week……………………………………….Full Article: Source

Posted on 03 May 2011 by VRS |  Email |Print

The single biggest news event this week besides the Royal Wedding (who actually cares) was Federal Reserve Chairman Ben Bernanke’s televised press conference. The Federal Reserve is attempting to appear more transparent after coming under pressure from the United States Congress because of their obscure and potentially nefarious operation.
For most Americans, Ben Bernanke is someone they likely have never even heard of, but on Wednesday Mr. Bernanke got to bask in the sunlight that is generally only reserved for public elites such as celebrities, pro athletes, and the President of the United States……………………………………….Full Article: Source

Posted on 03 May 2011 by VRS |  Email |Print

Last August I told my subscribers to prepare for a monster rally in silver, which at the time of my forecast was $18.73 per ounce. I drew up a chart and predicted a huge rally to $29 an ounce, and we ended up at $31 or so just a few months later.
This was entirely a crowd behavioral move that I foresaw in advance, based on patterns that R.N. Elliott developed in the 1920s and 1930s……………………………………….Full Article: Source

Posted on 03 May 2011 by VRS |  Email |Print

The global zinc market was in surplus by 52,000 tonnes in the first two months of 2011, a monthly bulletin from Zinc yesterday traded with the positive node and settled 0.15% up at 101.2.
Lisbon-based International Lead and Zinc Study Group (ILZSG) showed. Global refined zinc use was 2.037 million tonnes, compared with 1.880 million in January-February 2010. In yesterday’s trading session zinc has touched the low of 100.8 after opening at 101.25, and finally settled at 101.2……………………………………….Full Article: Source

Posted on 03 May 2011 by VRS |  Email |Print

After a slight drop over the previous week, the weekly average price of the Organization of Petroleum Exporting Countries (OPEC) rebounded again and reached a new record high of 119.79 U.S. dollars per barrel last week, showing the highest level since the last week of July 2008, the Vienna-based cartel said Monday.
Due to the recent weakness of the U.S. dollar and the effect of market speculation, OPEC oil price had once continuously increased and reached new records for four consecutive weeks since the September 2008……………………………………….Full Article: Source

Posted on 03 May 2011 by VRS |  Email |Print

The rapid development of exchange traded products has brought with it increased diversity in the investing space. Markets segments that were once nearly impossible for the average Joe to reach have now become as easy to buy as a share of ExxonMobil.
Some of these elusive market segments include emerging markets, high yield fixed income, and commodities, the latter of which is one of the most popular and fastest growing segments of the exchange traded world……………………………………….Full Article: Source

Posted on 03 May 2011 by VRS |  Email |Print

Investors need to understand Exchange Traded Funds–”ETFs”–before they jump in thinking they are just like mutual funds. Your broker or adviser may have pitched the product to you already. It’s the hottest thing on the Street, and that means investors need to be wary.
In 2008, many investors betting on a market downturn flocked to “inverse” and “leveraged” funds. An inverse ETF is designed to return the inverse–or opposite–of whatever index or benchmark it tracks. A leveraged ETF is designed to return a multiple of the daily performance of the index or benchmark it tracks……………………………………….Full Article: Source

Posted on 03 May 2011 by VRS |  Email |Print

The International Energy Agency has warned that global warming targets could be missed three times over if countries fail to promote the implementation of clean energy, following rumours of a possible slowdown in atomic power growth, AFP has reported.
With nuclear power generation generally considered to be a clean source of energy compared to the burning of fossil fuels, due to its lack of production of carbon dioxide, a global slowdown in nuclear development following Japan’s recent Fukushima disaster accelerate a rise in global temperatures……………………………………….Full Article: Source

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