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Commodities Briefing 21.Feb 2011

Posted on 21 February 2011 by VRS |  Email |Print

From Telegraph: With gold prices remaining stubbornly high, here are the ten countries holding all the cards when it comes to gold reserves, according to the World Gold Council.
The United Kingdom lags well behind in 17th place in the world league table. Britain currently holds 310.3 tonnes of gold, valued at $13.8bn. As Chancellor of the Exchequer, Gordon Brown sold 395 tonnes of UK reserves between 1999 and 2002……………………………………….Full Article: Source

Posted on 21 February 2011 by VRS |  Email |Print

From Ninemsn.com.au: The simple act of filling the car up at a petrol station hammers home the point that commodity prices are soaring and investors of all types want to know how to convert that noticeable extra domestic expense into investment returns.
But commodities are not the easiest thing to access. Nick Sketch, senior investment director at wealth manager Rensburg Sheppards, explains: “The issue with commodities is to which story are you trying to get exposure? Take oil – if I want to invest in oil, do I want to buy the equity of the producers, the futures of the commodity or related equities? What you are never going to buy is a barrel of oil.”………………………………………Full Article: Source

Posted on 21 February 2011 by VRS |  Email |Print

From Thedailystar.net: Nicolas Sarkozy thinks he has radical ideas for the G20 to address volatile commodity prices, stopping just short of guillotining traders. A world burdened by inflation in oil, other commodities and food may share his frustration. The president hopes the French and other Europeans will, too. But dividing the world’s commodity trades between the “commercial” and the “speculative” ones isn’t easy.
This means G20 finance ministers may realise little in their discussion on the matter — even though Sarkozy is right that speculation in commodities is part of the price problem……………………………………….Full Article: Source

Posted on 21 February 2011 by VRS |  Email |Print

From Indiainfoline.com: Global gold demand in 2010 reached a 10 year high in tonnage and an all time high in value, with strong demand across all sectors. We have recently published the latest issue of Gold Demand Trends full year 2010. This sets out the key factors that drove gold demand in 2010, together with expectations for 2011.
Global gold demand in 2010 reached a 10 year high in tonnage and an all time high in value, with strong demand across all sectors. Gold demand for the year reached a ten year high with annual demand of 3,812.2 tonnes worth approximately US$150 billion. On 9 November 2010, this demand led to a new record gold price of US$1,421.00/oz on the London PM fix……………………………………….Full Article: Source

Posted on 21 February 2011 by VRS |  Email |Print

From Etfdailynews.com: 2010 was an outstanding year for gold, with strong demand across all sectors, the World Gold Council said today. Gold demand for the year reached a ten year high with annual demand of 3,812.2 tonnes worth approximately US$150 billion. On 9 November 2010, this demand led to a new record gold price of US$1,421.0/oz on the London PM fix.
The Gold Demand Trends report sets out the key factors that drove gold demand in 2010, together with an outlook for 2011:………………………………………Full Article: Source

Posted on 21 February 2011 by VRS |  Email |Print

From Hardassetsinvestor.com: Emerging market consumers, not Western buyers, currently drive the bulk of jewelry and physical bullion purchases. Meanwhile, investors in the U.S. have turned to gold ETFs more as trading vehicles than stores of value. Demand has evolved—even from quarter to quarter.
A key element of that was the growth in demand in India in 2010. In total, India reached 745.7 tonnes of jewelry demand, which was up 13 percent [since 1998's peak]. Within that, you had a very strong fourth quarter, continuing the revival of Indian demand last year from the low reached in 2008……………………………………….Full Article: Source

Posted on 21 February 2011 by VRS |  Email |Print

From Commodity Online: The silver prices have reached 30 year highs at $32.87 per ounce and gold-silver ratio is now down to below 43. The ratio could further decline to 16 within the next few years, according to National Inflation Association (NIA). It stated that investors should not be surprised to see gold reach $5,000 per ounce in 2015 and silver reach $500 per ounce at the same time!
Silver has already climbed 89% since NIA declared silver the best investment for the next decade on December 11th of 2009 at $17.40 per ounce!, it stated in a press release……………………………………….Full Article: Source

Posted on 21 February 2011 by VRS |  Email |Print

From Thehindubusinessline.com: Impacted by demand-supply fundamentals and non-fundamental factors that include geopolitics, currency and monetary policy, the global commodities complex covering energy products, metals and agriculture is moving in different directions. Each commodity group has its own orbit, as it were.
Agricultural commodities are currently the most watched simply because of elevated prices of cotton, corn, wheat, sugar and vegetable oil. Last week, cotton breached the critical 200 cents a pound barrier to set a fresh all-time high……………………………………….Full Article: Source

Posted on 21 February 2011 by VRS |  Email |Print

From Mineweb.co.za: When the Tunisian, then the Egyptian revolutions succeeded we were all surprised. Many believed that at last democracy had won in the Middle East. When the King of Jordan changed his government a feeling of contagion set in.
Then we heard of riots in Yemen, Libya, Bahrain, Iran and we now look at the entire Middle East as ripe for contagious revolutions. The question hangs in the air, “Are these revolutions or just exuberant demonstrations?” Will they topple regimes and disrupt oil supplies. We will have to wait and see……………………………………….Full Article: Source

Posted on 21 February 2011 by VRS |  Email |Print

From Stockopedia.co.uk: Latin America has enjoyed robust economic growth in recent years, in part driven by rising global prices for commodities such as oil & gas. The discovery of new gas & oil reserves in Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Peru and Venezuela is causing changes in the relative importance of countries and in the relationships among them.
Given the active role played by Brazil on relations among Latin American countries, we will deal with it from the perspective of Brazilian policy. Most of the studies on prospective energy markets, including the World Energy Outlook (WEO), tell us that oil & gas will remain dominant in world energy supply well throughout the first half of this century……………………………………….Full Article: Source

Posted on 21 February 2011 by VRS |  Email |Print

From Seekingalpha.com: Crude oil prices have been particularly volatile in recent weeks due to concerns among market participants of the possible disruption in oil supplies coming from the Middle East. The success of the civil uprising in Tunisia and Egypt in toppling their respective leaderships has inspired similar actions across the Middle East, North African (MENA) region.
In doing so, protestors have come into contact with security forces in Bahrain, Jordan, Yemen, Libya and Iran, and in many cases with deadly outcomes. It is clear that the leaders of these countries have no appetite for these mass demonstrations and appear determined to aggressively suppress any possible rebellion……………………………………….Full Article: Source

Posted on 21 February 2011 by VRS |  Email |Print

From MarketWatch: Gold has lost some of its Midas touch. After pouring into exchange-traded funds tracking gold in 2010, investors have been pulling money out of these products at a rapid pace so far this year.
“The most surprising reversal from last year’s trends is money flows related to major gold funds, which have seen net redemptions of [more than] $2.5 billion thus far in 2011,” said Nicholas Colas, ConvergEx Group chief market strategist, in a Feb. 16 note examining ETF buying patterns. ………………………………………Full Article: Source

Posted on 21 February 2011 by VRS |  Email |Print

From Ibtimes.com: Gold inched up on Monday, adding to a weekly gain of nearly 3 percent last week as fears over a European debt crisis and growing unrest in the Middle East underpinned investor sentiment.
Spot gold was steady at $1,390.50 per ounce as of 2330 GMT, compared with $1,388.58 an ounce late in New York on Friday. It hit a five-week high of $1,391.75 on Friday. Bullion has risen for five straight sessions, its longest winning streak since September……………………………………….Full Article: Source

Posted on 21 February 2011 by VRS |  Email |Print

From Seekingalpha.com: From early times, metals were divided into two groups, base metals and noble metals. The rare precious metals such as gold and silver are known as the noble metals. The base metals, base as in common or low born, are the inexpensive ones. The term as used in mining and investing includes aluminum, copper, lead, nickel, tin and zinc.
On February 3, 2011 Seeking Alpha published an article on aluminum, Could Excess Supply Foil Aluminum Prices in 2011? - Seeking Alpha by Bridget Freas……………………………………….Full Article: Source

Posted on 21 February 2011 by VRS |  Email |Print

From Efinancialnews.com: Exchange-traded products have opened up commodities to a much wider group of investors, but the industry remains divided over whether they are contributing to a bubble that could destabilise the wider market.
World food prices have reached a new high, according to the UN’s Food and Agriculture Organization, and other commodity prices are trending upwards……………………………………….Full Article: Source

Posted on 21 February 2011 by VRS |  Email |Print

From Efinancialnews.com: In the wake of early February’s exchange mega mergers – Deutsche Börse with NYSE Euronext and the London Stock Exchange with Canadian exchange operator TMX Group – attention is now being focused on who’s next, as the world’s major exchange operators look to increase scale and grab a bigger share of the world’s booming developing economies.………………………………………Full Article: Source

Posted on 21 February 2011 by VRS |  Email |Print

From Reuters: Treasury Secretary Timothy Geithner on Saturday pointed to the problems China’s tightly controlled currency poses for other developing economies and said Beijing still had further to go to let its currency rise.
Talks at a Group of 20 meeting in Paris centered round efforts, led by Germany and G20 presidents France, to persuade China to include its yawning current account surplus and undervalued currency in a list of measures aimed to start a process of rebalancing the global economy……………………………………….Full Article: Source

Posted on 21 February 2011 by VRS |  Email |Print

From Indianexpress.com: Finance minister Pranab Mukherjee has blamed runaway food prices and inflationary pressures on ‘inadequate regulations’ and excessive speculation in commodity futures markets.
Calling on the international community to devise a global system for gathering commodity market information and creating a public database on price and production trends, the minister said that commodity exchanges should be treated as public institutions……………………………………….Full Article: Source

Posted on 21 February 2011 by VRS |  Email |Print

From Ninemsn.com.au: When it comes to passing on costs to consumers, Next has been among the most aggressive (and vocal) of the UK’s larger retailers. Since the autumn, Lord Wolfson, its chief executive, has been telling the City that its customers would have to pay more for their jeans, T-shirts and dresses because of significant cost price pressures around the world.
Unfortunately, he does not seem to be able to raise prices quickly enough to counter the impact of rising raw material costs………………………………………..Full Article: Source

Posted on 21 February 2011 by VRS |  Email |Print

From Hurriyetdailynews.com: Specialists agree that the EU should revise its traditional notions of the Common Agricultural Policy, or CAP, the regulatory body that oversees the bloc’s agriculture sector through subsidies and adjusted prices and that critics blame for distorting markets.
They say agricultural subsidies have unfavorable effects on consumer prices in developing countries………………………………………Full Article: Source

Posted on 21 February 2011 by VRS |  Email |Print

From TheStreet: Cocoa futures leaped to a 32-year high Friday as a disputed presidential election continued to rock the world’s number one cocoa producing nation.
Cocoa prices for May delivery settled up $61, or 1.8% at $3,499 a metric ton. Cocoa traded as high as $3,511 a metric ton Friday, hitting a 32-year high for a most actively-traded contract, according to Bloomberg data……………………………………….Full Article: Source

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