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Commodities Briefing 12.Oct 2011

Posted on 12 October 2011 by VRS |  Email |Print

Deborah DoaneMore than 450 economists from 40 countries have urged G20 finance ministers to prevent financial speculation in commodity markets from driving up food prices and fuelling hunger.
Economists from universities including Cambridge, Oxford, Berkeley, Cornell and the London School of Economics signed a letter ahead of the meeting of G20 finance ministers in Paris later this week……………………………………….Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

Jim RogersJim Rogers, a former partner of George Soros in the hedge fund game, has been vociferously bullish on commodities for going on 15 years. Except for getting older, married and becoming a parent, he has not changed.
I ran into him in late September at a commodities conference in Frankfurt. He told the assembled burghers that in 10 years the conference would have to be held in a stadium rather than a hotel meeting room, because commodities by then would be a red hot asset class and investors would be flocking to it……………………………………….Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

As commodities futures rise on Tuesday, the bullhorn being sounded by maverick investor Jim Rogers apparently continues to be heard.
Today, John Prestbo of Dow Jones Indexes relates a number of points made by Rogers at a recent conference. In a MarketWatch column titled “Why Jim Rogers is right about commodities,” Prestbo relates these points and comments brought up by the commodities guru:………………………………………Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

No one is likely to forget the dotcom bubble of the late 1990s, where any IT company with the dotcom tag but without a discernible business plan was trading at astronomical valuations. The bubble burst at the turn of the century and caused losses to millions of investors.
Now the attention has shifted to commodities and the talk is that commodities are set to extend their bull run in the long term. And the recent correction in prices has only sparked interest in investors to jump the bandwagon……………………………………….Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

Global oil demand may be more robust than expected, even with a slowdown in economic growth in the United States and Europe, the chief economist of the International Energy Agency (IEA) said on Tuesday.
Fatih Birol told Reuters on the sidelines of an oil industry conference that fuel consumption in Asia and in the Middle East was holding up fairly well……………………………………….Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

Estimates for crude oil demand in 2011 and 2012 were once again downgraded by the world’s largest oil cartel, the Organization of Petroleum Producing Countries (OPEC). In their latest oil market report, OPEC lowered its forecasts for the global economy and the U.S., while they expect softness in 2012 oil demand to outpace the slowdown in supplies, putting further pressure on prices.
Global oil demand in 2011 will average 87.7 million barrels per day, OPEC announced Tuesday, up 0.88 million barrels per day from previous estimates, which had already suffered various downward revisions……………………………………….Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

Oil prices wavered Tuesday after OPEC cut its estimate for world oil demand for this year and said it expects no growth in demand for 2012.
After falling in early trading, benchmark crude rose 40 cents to finish at $85.81 per barrel in New York. Brent crude, used to price many international kids of oil, rose $1.40 to end at $108.05 a barrel in London……………………………………….Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

Arab OPEC members that boosted crude exports to make up for reduced supply from Libya need to cut production as the North African nation increases output, Iran OPEC governor Mohammad Ali Khatibi said.
Certain members should return to the production level they had prior to the Libyan crisis, in line with suggestions from the group’s Secretary-General Abdalla el-Badri, Khatibi said, without identifying the nations, according to the state-run Mehr news agency……………………………………….Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

Kuwait, the fifth-largest producer in OPEC, is exporting oil as usual and is not concerned that a nationwide strike by customs workers will block crude shipments, the country’s oil minister told the official news agency KUNA.
State-run Kuwait Petroleum Corp. “has taken all procedures and precautions with regard to production and exports,” Mohammad al-Busairy said, according to the agency. “There is no fear of an impact from the customs employees’ strike on Kuwait’s oil exports.”………………………………………Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

The price of Gold will shoot up and hit the magic $2000 within the next 3-6 months, says Tony Hall of Duet Commodities Fund, one of the top performing hedge funds this year.
“The decline is more of a healthy retracement than a change of the trend. I do think the trend is still in place and in the next three to six months we’re going to reach the $2,000 mark” Hall said………………………………………Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

Gold today is hitting record levels, primarily due to the uncertainty surrounding world currencies, debt, and central banks around the world printing money to support their government spending (USA) and over-leveraged banks (Europe.)
This will eventually have inflationary effects on commodities which have a real intrinsic value……………………………………….Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

The recent correction in gold has once again led, to financial commentators warning of a bubble – just as they have incessantly since it first passed $400 an ounce. A bubble usually ends with day after day of speculative higher highs, not corrections like we have just seen or as we saw in August where a $200 fall was followed by the resumption of its decade long rise.
That gold continues to climb a wall of worry, and that so many are even calling it a bubble, is actually an extremely bullish indicator since financial bubbles burst only after sustained periods of exuberance……………………………………….Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

With gold appreciating against nine of the world’s major currencies, one could easily conclude that gold has been an attractive “investment”, but appearances can deceive. Gold does not generate cash flow, so it cannot be an investment. An ounce of gold purchases the same amount of crude oil as it did 10 years ago.
When viewed this way, gold is not an investment, because it would not have increased your wealth over these periods. Rather, gold would simply have preserved your purchasing power……………………………………….Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

The largest Gold ETP, SPDR, slipped lower on Monday by 1.52 tonnes but overall metal held remains stable. But, more importantly, physically demand for gold from Asia remains very strong from India and from China following the week-long holiday. Gold bar premiums in Hong Kong have risen to $3/oz, their highest since February and are at 50 cents/oz in Tokyo.
Although prices have surrendered some of Monday’s gains in early trade this morning, they continue to trend higher………………………………………Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

There are many ways to invest in gold, from exchange-traded funds (ETFs) to gold stocks, but the simplest way is to just buy physical gold – or bullion - outright. But what’s the best way to invest in gold bullion? We look at the options below.
Should you buy coins or bars? You can buy bullion in two main forms: coins or ingots (bars). The advantage of gold coins over gold bars is that they allow you to be more flexible……………………………………….Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

Copper shed nearly three per cent on Tuesday as worries about the sustainability of China’s economy compounded the Western world’s growth prospects.
Investors dumped copper, one of the Asian giant’s top imports. An impending vote from Slovakia to become the last of the 17 EU member states to vote to boost the size and scope of the European Financial Stability Facility added to the cloudy macro picture……………………………………….Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

Did you watch the markets on Monday? In the last 18 minutes of trading, the Standard & Poor’s 500-stock index jumped more than 10 points with no news to account for the rally. If you were left scratching your head, you were not alone.
Almost every day there is an article in the newspaper trying to explain the stock market’s wild swings, or volatility, and often the explanation is inconclusive, involving everything from Europe’s banking problems to new fears of recessions……………………………………….Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

The purpose of this Q&A is to offer a brief overview of Exchange Traded Funds so that you can gain a better understanding of these investment products and learn how to profit from them.
What is an ETF? An ETF is an investment fund traded on a stock exchange. The fund can be invested in equities, currencies, bonds, commodities, derivatives, swaps, futures contracts, etc. Purchasing an ETF entitles you to participate in profits if the holdings increase in value, or to realize a loss if the holdings decrease in value. An ETF is open to any investor that has access to buy and sell stocks through any licensed brokerage account……………………………………….Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

Makes case for standardising inspection norms with increased thrust on checking malpractices. Commodity futures market regulator, the Forward Markets Commission (FMC), is taking several initiatives to improve functioning of the market, protecting investors interests and ensuring greater degree of compliance by commodity brokers.
It has also made a case for standardising inspection norms with increased thrust on checking malpractices……………………………………….Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

The biggest rout in soybean prices in more than two years may be ending as farmers from Iowa to Brazil fail to keep pace with record demand for cooking oil and livestock feed.
The U.S., the world’s largest grower and exporter, will harvest 7.3 percent less this year, leading the first decline in global output since 2009, the U.S. Department of Agriculture estimates. Morgan Stanley expects soybeans to average $14.25 a bushel in the 12 months ending Aug. 31, the most ever and 21 percent more than yesterday’s closing price of $11.775……………………………………….Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

Brazil’s currency is increasingly behaving like a “commodity currency” that closely tracks commodities prices, the chief economist of Brazil’s Banco Bradesco said Tuesday.
“The currency in Brazil is starting to behave like an exchange rate in countries we call ‘commodities currencies,’ that’s to say, which have an exchange rate that’s linked to the changes in the prices of the commodities which those countries export, as is the case with Canada, Chile, for example,” Octavio de Barros told a conference in Sao Paulo……………………………………….Full Article: Source

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