Gold Rebounds on Attractive Levels - July 10, 2012 23:57

Gold futures recovered on Monday as investors took fresh position in the precious metal due to its highly attractive price levels. Gold futures contract for August delivery gained 0.7 percent or $10.20 to settle at $1,589.10 per ounce on the Comex division of the New York Mercantile Exchange.

Gold Futures Decline as ECB Cuts Interest Rate - July 6, 2012 23:58

Gold futures fell on Thursday in reaction to moves of the ECB and the Bank of England which created worries for global economy.  The European Central Bank announced reduction in the key interest rate while the Bank of England opted for further easing measures. Though the move of European Central Bank was highly anticipated by […]

EIA Reports decrease of 4.3 Million Barrels in Oil Supplies - July 6, 2012 23:49

Energy Information Administration released its inventories report on Thursday according to which crude oil inventories declined by 4.3 million barrels for the week ending June 29th, 2012. Analysts on average expected the crude oil supplies to fell by 2 million barrels. EIA also released its data on gasoline inventories which increased by 200,000 barrels for […]

Gold Futures Plunge on US Fed’s Operation Twist Program - June 21, 2012 23:57

Gold futures declined on Wednesday mainly in reaction to the US Federal Reserve’s decision to continue its “Operation Twist” program till the end of the current year. US Fed’s “Operation Twist” program comprises of twisting the yield curve by selling short term securities while buying long term securities. The US Federal Reserve also decided to […]

EIA Report Increase of 2.9 Million Barrels in Oil Inventories - June 21, 2012 23:51

The Energy Information Administration on Wednesday released its inventories report according to which crude oil supplies increased by 2.9 million barrels for the week ending June 15th, 2012. Analysts on the other hand analysts on average forecasted the decrease 600,000 barrels for the respective week. The EIA also reported the increase of 900,000 barrels in […]

Gold Gains on Weak Inflation data - June 16, 2012 0:00

Gold futures jumped on Thursday extending its rally for the fifth consecutive session. Weak inflation data and expectations of another round of quantitative easing by US Federal Reserve boosted the safe haven status of the precious metal. Gold futures contract for August delivery gained $0.20 to settle at $1,619.60 per ounce on the Comex division […]

Crude Oil Jumps on OPEC’s Decision - June 15, 2012 23:50

Crude oil futures climbed on Thursday in reaction to expectations that US Federal Reserve would opt for more easing measures while OPEC decided to keep its production ceiling unchanged. The Organization of the Petroleum Exporting Countries announced that its collective production ceiling will remain flat at 30 million barrels per day. The production quota was […]

Gold Futures Gain on Prospects of QE - June 14, 2012 23:53

Gold futures gained on Wednesday in reaction to hopes of further quantitative easing by Federal Reserve and other central banks. Moreover, decline in producer prices and retail sales further weakened the greenback which eventually boosted the precious metal on its safe haven status. Gold futures contract for August delivery surged 0.4 percent or $5.60 to […]

Crude Oil Inventories Decline by 200,000 Barrels, Reports EIA - June 14, 2012 23:44

The Energy Information Administration published its report on crude oil supplies on Wednesday according to which crude oil inventories declined by 200,000 barrels for the week ending June 8th, 2012. Analysts on average expected the decline of 2 million barrels in crude oil stockpiles while another trade group, the American Petroleum Institute reported the decrease […]