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Commodities Briefing 08.Dec 2011

Posted on 08 December 2011 by VRS |  Email |Print

Jim RogersJim Rogers is bullish on commodities, is shorting emerging market and American technology stocks and says the U.S. economy is in serious trouble.
Rogers, chairman of Rogers Holdings and legendary investor, gained international fame by calling the commodity rally in 1999 and loves contrarian investments. Rogers sat down first with TheStreet to give his take on the European sovereign debt crisis, the health of the U.S. economy, the possibility of a slowdown in China and his investment strategy for 2012………………………………………..Full Article: Source

Posted on 08 December 2011 by VRS |  Email |Print

Abdulla Salem El BadriThe head of OPEC said Wednesday that speculators are at least partly to blame for high oil prices — not any lack of supply on world markets.
Speaking at a World Petroleum Congress panel, OPEC Secretary General Abdulla Salem El Badri said the world has plenty of crude but that the number of barrels of oil changing hands in the financial markets is 35 times greater than the actual supply………………………………………..Full Article: Source

Posted on 08 December 2011 by VRS |  Email |Print

The heads of two major petroleum industry organizations, in a panel discussion in Qatar, could not agree on what is currently driving oil prices higher. Abdulla Salem el Badri, secretary-general of the Organization of Petroleum Exporting countries, said speculating investors were at least partly responsible for putting unnecessary pressure on the market.
“Oil resources are clearly plentiful. Speculation is playing a very important part in inflating these prices,” Badri said………………………………………..Full Article: Source

Posted on 08 December 2011 by VRS |  Email |Print

The head of the Organisation of Petroleum Exporting Countries (OPEC) said on Wednesday he hoped the EU would not press sanctions on Iran’s “difficult to replace” oil exports.
“I really hope there will not be an EU embargo on Iranian oil,” OPEC Secretary General Abdullah El-Badri said at the World Petroleum Congress in Doha. “It will be very, very difficult to replace” the exports of this OPEC member, he said………………………………………..Full Article: Source

Posted on 08 December 2011 by VRS |  Email |Print

Many people think of renewable energy as a vague prospect far off in the future without many practical implications in their lifetimes. While many people are unaware of the dramatic growth of the solar energy sector, many more see it as still too small to change the business-as-usual of reliance on coal, natural gas and oil.
However, a new report from the International Energy Agency envisions a world in which as much as 75 percent of the world’s electricity is generated from the renewable sources, with solar responsible for as much as 33 percent………………………………………..Full Article: Source

Posted on 08 December 2011 by VRS |  Email |Print

In Beijing, the price of pure gold has exceeded 430 yuan ($67.69) per gram, but consumer enthusiasm to buy the yellow metal is just as high as the price of the precious metal. Reports indicate that China and the Chinese government are keen to accumulate the yellow metal over the coming months.
Though the Chinese traditional lunar Year of the Dragon is still two months away, dragon related gold products have already started appearing in most shops across the country, enticing buyers………………………………………..Full Article: Source

Posted on 08 December 2011 by VRS |  Email |Print

In the last couple of weeks, we’ve noticed the variance of the gold fixing price and the open market price. In the past, the two tended to dovetail giving the appearance of synchronicity. But in the last week, open market prices have tried to take the gold price down only to be pulled up by the price established at the London gold fixing.
There is a structural change happening in the market, bringing the relevance of the physical market to a far more important pricing role that it has had before………………………………………..Full Article: Source

Posted on 08 December 2011 by VRS |  Email |Print

Gold can build on its 2011 gains next year with prices possibly touching US$2,300 an ounce, according to US-based Dillon Gage Metals. In a statement Dec 6, Dillon Gage, an online gold trading platform, said that the price of gold had reached an all time high in September on the back of a turbulent year for world economies and markets.
Dillon Gage president Terry Hanlon said the yellow metal looks poised for loftier levels next year, adding that uncertainty about US, European and other economies would clearly keep investors interested in precious metals in 2012………………………………………..Full Article: Source

Posted on 08 December 2011 by VRS |  Email |Print

With Silver trading over 35% down from its May highs of near $50/oz, silver is looking extremely bullish for a number of reasons and many traders are expecting prices to double or even tripe over the next 6 months. Here are six factors would drive the price of silver higher.
There are more (probably much more) than five Billion ounces of Gold bullion collecting dust in vaults around the world, and more is added to the vaults everyday because more is mined than is used as jewelry or industry or investment products………………………………………..Full Article: Source

Posted on 08 December 2011 by VRS |  Email |Print

As a pure precious metal, Platinum is whitish in color and malleable. For many years, platinum has been used in emission controlling devices, jewelry and in electronics. As a precious metal, platinum can be both collected and invested in.
The rarest of the precious metals, platinum has a much shorter history in the financial sector in contrast with Gold and silver. Platinum is steadily becoming one of the most proficient hedges against inflation in the marketplace………………………………………..Full Article: Source

Posted on 08 December 2011 by VRS |  Email |Print

Despite a raft of good news—rising employment in the U.S., stronger growth in the euro zone and monetary easing in China—”Dr. Copper” believes the global economy is in poorer health than many think.
Among hedge funds and other money managers, bets that copper prices will fall have outpaced positions that would profit from a rise for 11 consecutive weeks. That is known as a “net short” position, and traders said its persistence in the futures market is reminiscent of a similar move that occurred in August 2008 ahead of the financial crisis………………………………………..Full Article: Source

Posted on 08 December 2011 by VRS |  Email |Print

While focussing specifically on Africa, Kemet CEO Brian Menell’s warning to delegates at the Mines & Money conference in London is equally valid across a much broader range of developing nations. Menell’s presentation focused on the premise that mining companies risk jeopardising their future growth if they fail to work with governments towards their mutual best interests.
“If we as an industry succumb to our natural instincts to rigidly resist any increased state intervention, we will be inviting enforced value transfers that will prove much more costly, than if we engage with genuinely open minds.” Mr Menell said in his speech………………………………………..Full Article: Source

Posted on 08 December 2011 by VRS |  Email |Print

In commodities, the U.S. dollar typically commands much of the market’s attention. That makes sense since most commodities are priced in the greenback. As a result, it’s not surprising that the Federal Reserve’s decade-long effort to cheapen the dollar has coincided with rising commodity prices.
But large speculators have been placing big bets on the dollar lately. “It turns out that a persistently weak currency, like the U.S. dollar, is preferred to a possibly doomed currency such as the euro,” laments John LaForge, a commodities strategist at Ned Davis Research………………………………………..Full Article: Source

Posted on 08 December 2011 by VRS |  Email |Print

Europe could surprise to the upside given a probable rate cut by Mario Draghi’s ECB on Thursday and negative market sentiment, allowing policymakers greater scope to kick the can far enough down the road to calm markets, according to Barclays’ macro research team.
After S&P negatively predisposed markets early this week warning that it could downgrade up to 15 Eurozone nations’ sovereign credit ratings, including Germany’s all-important AAA, the stage is set for EU policymakers to positively surprise markets………………………………………..Full Article: Source

Posted on 08 December 2011 by VRS |  Email |Print

Carbon pricing will be the core mechanism to finance the Green Climate Fund and with it climate change adaptation projects in developing countries.
“If you can establish broader and more comprehensive carbon financing, we will attract more private funding,” explained Norway’s Prime Minister Jens Stoltenberg, who co-chairs the United Nations high-level advisory group on climate change financing………………………………………..Full Article: Source

Posted on 08 December 2011 by VRS |  Email |Print

The carbon trading market may be headed for a crash if negotiations at the climate change conference are any indication, according to experts. This is likely to impact China and India the most, as the two make up almost three-fourths of the trade on carbon exchanges.
“India is likely to be most affected if the second round of Kyoto Protocol is not signed. China is already taking steps to tackle the issue; India is not,” said Axel Michaelowa, who advises corporates on carbon trading………………………………………..Full Article: Source

Posted on 08 December 2011 by VRS |  Email |Print

The biggest slump in wheat prices in three years may have further to go as expanding harvests from Russia to Canada bolster inventories to the most in a decade.
The U.S. Department of Agriculture will predict tomorrow a 3.4 percent gain in stockpiles to 202.89 million metric tons by June, according to the average of 16 analyst estimates compiled by Bloomberg. Prices that fell 34 percent from a 29-month high of $9.1675 a bushel in February will drop 12 percent more to $5.30 in the next 12 months, Credit Suisse Group AG forecasts………………………………………..Full Article: Source

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