Posted: August 25th, 2013 | Author: Pascal Blanc | Filed under: Commodities, Gold, Metals, Precious metals | Tags: Gold, gold future, gold market, gold price | No Comments »
During the first seven months of this year gold outflows totaled some 670 tonnes with more than 400 tonnes recorded in the second quarter following the spectacular collapse in the price of gold. In April, gold biggest sell-off in 30 years happened.
After breaking the $1,400 and $1,300 limit, the precious metal was going toward $1,200 territory or even $1,100. But then gold rallied 16 percent since reaching a 34-month low of $1,180.50 in June as sales from exchange-traded products slowed and jewelry demand strengthened. So, is gold rout over?
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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: 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 14th, 2013 | Author: Pascal Blanc | Filed under: Commodities, Gold, Metals, Precious metals | Tags: Gold, gold consumption, gold future, gold price, gold reserve | 1 Comment »
Gold futures for June delivery dropped 0.3 percent to $1,432.60 an ounce at 10:46 a.m. on the Comex in New York. The price headed for the third straight decline, the longest slump since April 4. Through May 10, the metal dropped 14 percent this year.
Leading wealth managers have been switching out of commodities since the start of the year in favour of equities and bonds as they look for yield, a trend which accelerated in April with a major sell-off across the commodities field, led by a collapse in the gold price.
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Posted: April 16th, 2013 | Author: Pascal Blanc | Filed under: China, Commodities, Gold, Metals, Precious metals | Tags: Gold, gold inventory, gold price, gold reserve, precious metal | 4 Comments »
Last friday, commodities tumbled on US retail sales news, led by metals and precious metals. But yesterday, gold plunged to $1,357 after disappointing news on China first quarter growth over the week-end.
The 7.7 percent increase in first-quarter Chinese gross domestic product from a year earlier marked the first time in data going back two decades that four periods in a row have seen growth of less than 8 percent. The figure released by the National Bureau of Statistics of China was also the worst miss of analyst estimates since the third quarter of 2008. Consequently, gold dropped below the threshold of $1,400 an ounce, after falling under $1,500 last week, its lowest level in two years.
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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: April 10th, 2013 | Author: Pascal Blanc | Filed under: Commodities, Precious metals | Tags: palladium, palladium price, palladium production, PGM, platinum, platinum group metals, platinum price, platinum production | No Comments »
The two largest platinum group metals producers, South Africa and Russia who together control about 90% of the world’s supply, have finally decided to join forces to try to curb excess production bringing down platinum and palladium prices.
At the summit of the BRICS, held in Durban at the end of march, the South African Minister of Mineral Resources, Susan Shabangu, met her Russian counterpart Sergei Donskoy. The two ministers, following previous discussions in Moscow in November and Pretoria in February, signed on March 27th a framework agreement for the creation of an OPEC-type trading bloc to coordinate exports of platinum group metals.
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Posted: March 5th, 2013 | Author: Pascal Blanc | Filed under: Agricultural, Commodities, Energy, Infographics, Metals, Precious metals | Tags: commodity 2013, commodity forecast, commodity outlook, infographics | No Comments »
Following our article on Commodity Outlook – Forecast 2013, this is a graphical representation of the World Bank report for 2013.
Posted: April 25th, 2012 | Author: Rod Sherkin | Filed under: Precious metals | Tags: precious metal | No Comments »
After lagging behind other precious metals for much of the year, prices for the white metal—a key element in cars’ catalytic converters—are pulling ahead. Since the beginning of the month, palladium has risen almost 2%, hitting a one-month high on Friday.
Palladium is mostly used in gasoline exhausts, which are more common in the U.S. and China. Platinum, on the other hand, is for diesel-fueled cars like those driven around Europe. Demand for new vehicles in Europe remains anemic as the Continent struggles to fend off an economic slowdown.
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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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