Posted: May 21st, 2013 | Author: Pascal Blanc | Filed under: Commodities, Gold, Metals, Precious metals, Silver | Tags: Gold, gold future, gold price, silver, silver future, silver price | No Comments »
Gold and silver futures got off to another rocky start to begin the trading week. Silver fell as low as $20.84 a troy ounce, the lowest since September 2010, later rebounding to close 3 per cent higher at $22.91 in New York trading.
The price of silver was the standout mover in financial markets Monday as it took a hammering for the second trading session in a row, even as stocks remained relatively solid amid hopes over the U.S. economy. Silver’s stumble also brought down the price of gold; the yellow metal hit a one-month low of $1,338.10 an ounce and extended its slump for an eighth straight day. Gold has fallen more than 7% in May.
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Posted: May 4th, 2011 | Author: Rod Sherkin | Filed under: Precious metals | Tags: metal, silver | No Comments »
“There’s a bit of commodity nervousness out there, and talk of large hedge funds liquidating positions is keeping buyers to the sidelines till they see some price stability,” said Sterling Smith, an analyst with Country Hedging.
Silver settled below $40 a troy ounce for the first time in almost a month as higher trading costs continued to force nervous traders out of the market.
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Posted: February 19th, 2011 | Author: Rod Sherkin | Filed under: Metals | No Comments »
Silver prices neared 31-year highs on a brightening outlook for the global economy and as inflation concerns have revived.
Silver for February delivery rose 72.6 cents, or 2.3%, to settle at $32.2980 a troy ounce on the Comex division of the New York Mercantile Exchange. It was the metal’s strongest close since March 1980.
via Silver Nears 31-Year High – WSJ.com.
Posted: November 10th, 2013 | Author: Pascal Blanc | Filed under: Commodities | Tags: commodities, commodity 2013, commodity forecast, commodity outlook, commodity risk | No Comments »
The recent fortunes made by investors in rare earth metals and gold are just two shining examples of what an extremely profitable investment class commodities can be. From aluminum and platinum to zinc and silver, oil and gas to cocoa and wheat, this Guide to Commodities from the Economist Intelligence Unit is a comprehensive overview of the forces at work in the world of commodities.
The price volatility of so many commodities over the past decade has underlined their economic importance and how dependent we are on them: the price of gold has soared to new peaks (before tumbling in the last few weeks) as currencies have endured a crisis of confidence, demand from China has pushed metal prices up, instability in the Middle East and North Africa has had its effect on the oil price and food prices have been increasing in parallel with worries about whether there is enough to feed the world. Read the rest of Guide to Commodities 2013 » » »
Posted: June 20th, 2013 | Author: Pascal Blanc | Filed under: China, Commodities, Currencies, Economic Indicators, Precious metals, US Dollar | Tags: china, commodities, commodities china, commodities price, commodity 2013, commodity outlook | No Comments »
Gold is down by more than 5% this morning, barely holding onto $1,300 after having dipped below that level for the first time since September 2010. Silver has slumped by 7.2% to just over $20.
The price of crude oil has slumped 1.6% to under $97 per barrel this morning, while copper is down 1.9% and most agricultural commodities are lower. Even natural gas is taking a hit: its price is down by 1.7% to $3.90 this morning.
The Standard & Poor’s GSCI Index of 24 raw materials lost as much as 2 percent to 622.91, the biggest intraday loss since May 10, before reaching 625.31 as of 1:41 p.m. in London.
“There is panic selling all over the commodities sector after the Fed’s comments and the data from China,” said Daniel Briesemann, analyst at Commerzbank.
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Posted: April 12th, 2013 | Author: Rod Sherkin | Filed under: Commodities, Metals, Precious metals | Tags: LME, precious metal | No Comments »
Commodities tumbled to the lowest since July, led by a plunge in precious metals, as U.S. retail sales fell the most in nine months and consumer sentiment unexpectedly declined.
Gold fell into a bear market, and silver plummeted to the lowest since 2010. Crude oil slumped to a one-month low.
On the London Metal Exchange, a gauge of copper, aluminum, zinc, lead, nickel and tin fell 2.6 percent, the most in a year.
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Posted: June 1st, 2012 | Author: Rod Sherkin | Filed under: Commodities | Tags: commodities | No Comments »
“We’re getting very weak data going into June and the markets don’t like it. Economies are slowing and demand will fall.”
Commodities extended their decline, falling to the lowest level in almost eight months, after U.S. employers created fewer jobs than economists estimated and Chinese manufacturing slowed.
Crude oil for July delivery fell $3.30, or 3.8 percent, to $83.23 a barrel on the New York Mercantile Exchange, the lowest settlement since Oct. 7. Prices fell 17 percent in May, the biggest slide since December 2008.
Brent oil for July settlement slipped $3.44, or 3.4 percent, to $98.43 a barrel on the ICE Futures Europe exchange in London. It was the lowest close since Jan. 27, 2011. Brent is down 8.3 percent this year.
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Posted: May 1st, 2012 | Author: Pascal Blanc | Filed under: China, Metals, Rare Earths | Tags: metal, rare earth | No Comments »
To understand the stakes related to rare earths, we must address the myth of their rarity. Indeed, they are all more abundant than gold or silver in the earth’s crust, and their name actually reflects a relative rarity in minerals in which they are present (that is to say in low concentrations).
For example, lanthanides can be found in over 200 minerals, but only five of them have sufficient concentrations to be economically viable.
The U.S. Geological Survey (USGS) estimates world reserves to be around 114 million tonnes, i.e. more than 800 years of consumption if the level of current demand is maintained. These reserves are spread between China (48%), CIS (17%), the U.S. (11%), India (3%) and Australia (1.4%). The remaining 19% are divided between Canada, Greenland, Malaysia, Brazil, South Africa, Malawi, Vietnam, Thailand, Indonesia and a handful of other countries.
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Posted: February 21st, 2012 | Author: Rod Sherkin | Filed under: Commodities | Tags: aluminium, commodities, silver | No Comments »
Commodities jumped to a six-month high as euro-area finance ministers reached agreement on a second debt bailout for Greece and U.S. equities rallied, boosting prospects for raw-material demand.
The Standard & Poor’s GSCI Spot Index of 24 commodities rose 1.6 percent to 699.17 at 2:56 p.m. in New York after reaching 700.79, the highest since July 27. Metals led the gains with silver up 3.7 percent and aluminum gaining 3.5 percent. The Dow Jones Industrial Average climbed above 13,000 for the first time since 2008.
via Commodities Rally to Highest in More Than Six Months on Bailout for Greece – Bloomberg.
Posted: September 23rd, 2011 | Author: Rod Sherkin | Filed under: Commodities | No Comments »
On the Comex in New York, copper futures for December delivery fell as much as 7.8 percent to $3.215 a pound. Prices have dropped as much as 31 percent since touching a record $4.6575 on Feb. 15. On the London Metal Exchange, nickel plunged as much as 11 percent to $16,800 a metric ton.
Commodities fell to a nine-month low as silver, copper and nickel tumbled on deepening concern that policy makers are running out of tools to avert another global recession, hurting demand for metals, fuel and food. Gold fell below $1,700 an ounce in New York.
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