Gold and Oil News
Gold and Oil News - May 2, 2012 23:49
Crude Oil Gains on Better than Expected Manufacturing Data
Crude oil futures moved in bullish rally on Tuesday and reached their highest in last five weeks mainly backed by positive US manufacturing data. As per the latest data of the Institute of Supply Management the manufacturing index gained to 54.8 percent in month of April as compared to 53.4 percent in March. Analysts were [...]
Gold Futures Ended Lower for the Month
Gold futures remained lower on Monday and also posted loss for the month. The gold futures contract for June delivery slightly fell by 0.1 percent or $0.60 to settle at $1,664.20 per ounce on the Comex division of the New York Mercantile Exchange. For the month the precious metal was down by 0.5 percent. Gold [...]
Crude Oil Declines on Profit Taking
Crude oil futures ended lower on Monday finally after the consistent four bullish sessions in the last week. Investors were also concerned over the downgraded rating of Spanish bonds by Standard & Poor. Moreover, manufacturing data from Chicago area also fell to 56.2 percent in April as compared to expectations of 60.8 percent. Manufacturing gauge [...]
Crude Oil Advance on US Fed Comments
Crude oil futures gained on Thursday backed by weaker US dollar which fell in reaction to comments of US Federal Reserve indicating chances of further monetary easing. Crude oil futures contract for June delivery gained 0.4 percent or $0.43 to settle at $104.55 per barrel on the New York Mercantile Exchange. Oil has kept itself [...]
Gold Futures Jump on Weaker Greenback
Gold futures rallied on Thursday and reached their highest in last two weeks in reaction to weakening greenback and decision of US Federal Reserve to keep the interest rates unchanged. Gold futures contract for June delivery jumped 1.1 percent or $18.20 to settle at $1,660.50 per ounce on the Comex division of the New York [...]
EIA Reports Surprise Increase in Crude Oil Stockpiles
Energy Information Administration released its weekly inventories report on Wednesday according to which crude oil inventories increased 4 million barrels for the week ended April 20th, 2012. Analysts on average expected the gain of 1.5 million barrels for the respective week. Energy Information Administration also reported gasoline inventories according to which gasoline stockpiles fell 2.2 [...]
Gold Declines on Euro Zone Concerns
Gold futures ended lower on Monday as the political and economic situation in euro zone raised many questions among the investors. Gold futures contract for June delivery plunged 0.6 percent or $10.20 to settle at $1,632.20 per ounce on the Comex division of the New York Mercantile Exchange. Investors were concerned ahead of the French [...]
Crude Oil Decline on Lower Demand Outlook
Crude oil futures declined on Monday in reaction to raising concerns over euro zone stability and slower economic data from China. Both factors made investors question the global demand outlook of the oil. However there was some positive news rumoring in the market too that International Monetary Fund has increased its lending capacity to safeguard [...]
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