Wed, Apr 16, 2014
A A A
Welcome kbr175@gmail.com
RSS
Commodities Briefing 12.Dec 2013

Posted on 12 December 2013 by VRS |  Email |Print

Commodities were lower in November due to uncertainty regarding the future of US stimulus measures. Nelson Louie , Global Head of Commodities in Credit Suisse’s Asset Management business, said, ‘There is increasing optimism among some economists that global GDP will accelerate from a trough of 2.8% in the third quarter of 2013 to higher levels in 2014, driven by stronger than expected growth in the US and a continuing recovery in Europe .
This is potentially the first significant acceleration in global growth in three years and may be supportive of global commodity demand. While key macroeconomic risks have recently diminished and the economic tide appears to have shifted, significant changes to expectations may negatively impact markets, including commodities.’ (Press Release)

Posted on 12 December 2013 by VRS |  Email |Print

Strong commodity prices, particularly for dairy products, could drive up interest rates more than currently expected if they continue to keep the terms of trade at elevated levels, the Reserve Bank says.
In an alternative scenario in Thursday’s monetary policy statement, the bank projected a more aggressive tightening cycle if global demand for New Zealand exports keeps commodity prices high and maintains an elevated terms of trade………………………………………..Full Article: Source

Posted on 12 December 2013 by VRS |  Email |Print

Wheat futures fell early this morning after the US Department of Agriculture predicted a rise in global grain production. The USDA report forecast world wheat production for this year would increase 5 million tonnes or 8 per cent or to 711 million tonnes.
Most of this increase is from Canada which is expecting a record crop of 37.5 million tonnes, and last Australia’s production was also raised 1 million tonnes to 26.5 million tonnes. The UDSA said the near record world wheat supplies and increase export competition would reduce price prospects for US wheat………………………………………..Full Article: Source

Posted on 12 December 2013 by VRS |  Email |Print

OPEC has trimmed its crude oil output towards next year’s global requirement, the exporter group said on Tuesday, further whittling away at a supply surplus that could weigh on prices.
The monthly report from the Organization of the Petroleum Exporting Countries, which kept its output policy unchanged at a meeting last week, also sounded an upbeat note on the prospects for the world economy in 2014………………………………………..Full Article: Source

Posted on 12 December 2013 by VRS |  Email |Print

The cost of oil is being sent higher by “remarkably persistent” factors on both supply and demand, despite concerns that a potential return of Iranian oil to the global market would send prices down, according to the International Energy Agency (IEA).
The influential global energy research body raised its estimates for global oil demand for 2013 by 130 kilobarrels of oil per day, to 91.2 million barrels per day, on Wednesday, citing stronger‐than‐expected demand from the Organization for Economic Co-Operation and Development (OECD) countries in the third quarter, particularly the U.S………………………………………..Full Article: Source

Posted on 12 December 2013 by VRS |  Email |Print

The International Energy Agency said Wednesday from Paris it expected crude oil demand to increase at the same time production from non-OPEC members rises.
The IEA published its oil market report for December. It raised its estimate of global crude oil demand for 2013 because economies in the 34-member Organization for Economic Cooperation and Development performed well during the third quarter of the year………………………………………..Full Article: Source

Posted on 12 December 2013 by VRS |  Email |Print

The Venezuelan ambassador to Tehran says his country supports Iran’s candidacy for the position of the Organization of Petroleum Exporting Countries (OPEC) secretary-general.
Venezuelan officials will definitely back Tehran’s nomination for the top job at OPEC as they supported Tehran at the Gas Exporting Countries Forum (GECF), Amenhotep Zambrano told the official Iranian News Agency (IRNA) on Wednesday………………………………………..Full Article: Source

Posted on 12 December 2013 by VRS |  Email |Print

Rising oil supply from outside OPEC, particularly North America, is set to continue to outpace growth in demand next year, the Organization of the Petroleum Exporting Countries said Tuesday, underscoring the pressure the group faces to curtail its own production.
In its monthly market report, the group of oil producers raised its forecast for non-OPEC oil supply growth this year by 15,000 barrels a day to 1.2 million barrels a day, a growth rate it expects will be sustained in 2014………………………………………..Full Article: Source

Posted on 12 December 2013 by VRS |  Email |Print

Natural gas has had a phenomenal run over the past five weeks, rising nearly 25 percent on the strength of colder weather forecasts. But as the commodity slips in early Wednesday trading, the huge rally could finally be coming to an end.
“Right now we have seen just frigid temperatures,” said Jeff Kilburg of KKM Financial. “How long can that persist? We have seen a dramatic ‘up’ move here, and right now I want to be a seller and kind of capture this euphoria in the market.”……………………………………….Full Article: Source

Posted on 12 December 2013 by VRS |  Email |Print

Banks and investment houses see weaker prices ahead for gold in 2014, as the Federal Reserve is expected to begin tapering its quantitative easing program and the U.S. economy is expected to pick up.
If the current price pattern holds, this year will be the first time since 2001 that gold prices will end the year on a loss. Below is a collection of forecasts put out so far by the major banks and investment houses:……………………………………….Full Article: Source

Posted on 12 December 2013 by VRS |  Email |Print

Gold prices could see a rally of about five per cent before the end of 2013, according to the chief executive of Compass Global Markets, Andrew Su. Su said that when a market becomes overly bearish, for him, it’s a clear signal to buy - and this is the current case with gold.
Su believes gold has found a floor ar $1,200, which he doesn’t think will break. Investors, he said, are shy to take gold below $1,200 as last time that happened, the precious metal bounced very quickly………………………………………..Full Article: Source

Posted on 12 December 2013 by VRS |  Email |Print

CPM Group - the global commodities research and advisory firm thinks that gold is currently at its cyclical bottom. The prices could see sharp rise between 2016 and 2023. Fresh all-time highs may be seen only after 2016. Until then, the gold prices could remain range bound between $1,240 and $1,500 per troy ounce.
According to Jeffrey Christian, Managing Partner, CPM Group, there were quite a few instances of massive financial, economic and political imbalances that caused all of the economic problems over the last 12 years. None of those issues have been dealt with effectively………………………………………..Full Article: Source

Posted on 12 December 2013 by VRS |  Email |Print

There seems to have been the suggestion of something of a turnaround in sentiment on gold, ironically as virtually every bank analyst and his dog has been predicting a continuing downturn in the gold price – which, I suppose is the time to buy on true contrarian thinking.
Now whether the latest move upwards – not a big one so far by any stretch of the imagination – is sustainable, remains to be seen, but the factors surrounding the upturn are, to say the least, interesting………………………………………..Full Article: Source

Posted on 12 December 2013 by VRS |  Email |Print

This year the Indian Government raised import duties as high as 15% on gold. India then prevented the import of gold unless 20% of that gold was exported. What impact has this had?
The stated aim of these measures was not to interfere with the price of gold, but to reduce the Current Account Deficit. We know that these measures will only work in the short-term because smuggling will replace the import deficit of gold and the government will have to bow to pressure from the voting public ahead of May elections………………………………………..Full Article: Source

Posted on 12 December 2013 by VRS |  Email |Print

Central banks will have stopped their money printing madness. The US Federal Government will have balanced its budget. China will have invested 20% of its trading surplus in gold.
The US CPI will have peaked at a rate above 10%. The public in the USA, Canada, Australia and Europe will have bought gold with their savings, including a goodly portion of their tax free savings. The public in India and China will have turned from buyers to sellers………………………………………..Full Article: Source

Posted on 12 December 2013 by VRS |  Email |Print

Copper futures have slumped this year. Although the red metal has been battered by speculation about the exact state of the Chinese economy, copper has at least outperformed gold and silver, though that is not saying much.
The iPath Dow Jones-UBS Copper Total Return Sub-Index ETN, which tracks copper futures not physical copper, is off 15.3% this year, but 2014 could bring better fortune as the Chinese economy improves………………………………………..Full Article: Source

Posted on 12 December 2013 by VRS |  Email |Print

As a pioneer in retail business, the United States provides ample growth opportunities for all types of retail companies. The retail industry covers everything in its scope, ranging from internet catalog sales, auto dealers, convenience stores, vending machines and clothing; thus dividing retailers into numerous categories.
Retailers of all sizes, including individual direct marketers or direct sellers, small- to medium-sized franchise unit owners, and large “big-box” store operators compete in the U.S………………………………………..Full Article: Source

Posted on 12 December 2013 by VRS |  Email |Print

As December draws to a close, investors are mulling over their taxable investment accounts to assess capital gains for the year. While exchange traded funds are a tax efficient vehicle, investors shouldn’t skimp on researching options as there are subtle differences in the tax code for varying structures.
First off, ETFs are generally more tax efficient, compared to mutual funds, because ETFs typically trade less as they try to passively track a benchmark and they utilize “in-kind creation and redemption” to diminish the capital gains tax burden on shareholders………………………………………..Full Article: Source

Posted on 12 December 2013 by VRS |  Email |Print

It has been a wild year for bitcoin and although the currency has been around for the last five years, 2013 is when most investors started to pay attention to the crypto-currency; the enthusiasm for bitcoins even propelled prices to briefly trade higher than gold.
According to bitcoin specialists, the electronic currency is still in its infancy and faces a lot of questions; however, some investors are not afraid to start testing the waters………………………………………..Full Article: Source

Posted on 12 December 2013 by VRS |  Email |Print

The professional services firm argues that bitcoin should be viewed as a payment system, not a currency replacement. Bitcoin does not need to replace normal currency in order to have a future, according to an expert on digital currencies from professional services firm Ernst & Young.
Speaking at an event in London, Roger Willis, who has been following bitcoin since its inception in 2009, described myths around the currency, one of which was its position as a replacement for “fiat” money………………………………………..Full Article: Source

Posted on 12 December 2013 by VRS |  Email |Print

Rouble or ruble? From now on currency pedants won’t have to worry so much about how to spell the Russian currency because it has been given a symbol. Some two decades after first touting the idea, the Russian central bank has announced its rival to the £, $, € and ¥. And the winner, after a public vote, is:
The symbol, the Russian R, beat off four other contenders – taking more than 61 per cent of the more than 284,000 votes cast………………………………………..Full Article: Source

Posted on 12 December 2013 by VRS |  Email |Print

The European Commission may propose next month a law to manage the supply of carbon permits as a way of combating a surplus that drove prices to a record low, said Jos Delbeke, head of the regulator’s climate department.
A reserve mechanism to add or release pollution rights may help reduce a glut of more than 2 billion metric tons of permits, Delbeke, the commission’s Director-General for Climate, said in Brussels yesterday. He spoke after European lawmakers approved a plan to delay temporarily the sale of 900 million allowances in a process called backloading………………………………………..Full Article: Source

Posted on 12 December 2013 by VRS |  Email |Print

Since June, Chinese mega-cities of Shenzhen, Shanghai, and Beijing have in succession launched carbon emissions trading schemes, and carbon trading enter the markets of Tianjin and other cities in Guangdong by the end of the year.
Carbon trading can not only have immense market potential, but also form a forcing mechanism to promote energy-saving and emission-reduction on the whole………………………………………..Full Article: Source

See more articles in the archive

banner
banner
April 2014
S M T W T F S
« Mar    
 12345
6789101112
13141516171819
20212223242526
27282930