Gold and Oil News
Gold and Oil News - March 23, 2012 23:55
Gold Futures Decline on Chinese Data
Gold futures contract fell on Thursday and reached their lowest in last nine weeks. The precious metal remained lower after the less than expected Chinese manufacturing data. HSBC’s manufacturing managers’ index for China fell to its lowest in last four months in the month of March. China happens to be the top consumer of natural […]
EIA Reports Surprise Decline in Oil Inventories
US crude oil futures gained on Wednesday as the Energy Information Administration reported a surprise decrease in crude oil inventories data for the week ending March 16th, 2012. According to EIA’s report crude oil supplies for the week fell 1.2 million barrels as compared to analysts expected increase of 2.1 million barrels for the respective […]
Gold Futures Fell on Demand Uncertainty
Gold futures contract declined on Tuesday as investors were concerned over the demand of the precious metal due to economic slowdown in China. BHP’s president Ian Ashby said on Tuesday in Perth that China’s demand for iron ore is decreasing which will eventually settle down to a single digit figure. The notion created a panic […]
Crude Oil Futures Jump on Positive Global Economic Outlook
Crude oil Futures gained on Monday as investors were optimistic on the positive outlook for global economy. Moreover weaker greenback also supported the boost in the oil prices. Investors were upbeat on the latest comments by the head of International Monetary Fund who was positive about the global economy. However IMF’s Head Christine Lagarde was […]
Gold Futures Gain on Weaker Dollar
Gold futures contract gained on Thursday in reaction to weakening US dollar. The gold futures contract for April delivery gained 1 percent or $16.60 to settle at $1.659.90 per ounce on the Comex division of the New York Mercantile Exchange. Head of research, William Adams from FastmMarkets commented, “there is a risk of further weakness, […]
Crude Oil Declines on Oil Supply Outlook
Crude oil futures declined on Thursday as the US government denied the rumors that they have reached a deal with United Kingdom for countries to release strategic oil reserves. On Thursday, US President, Barack Obama and UK’s Prime Minister David Cameron discussed global energy issues but did not reach any deal according to White House […]
Gold Futures Plunge to Their Lowest in 8 Weeks
Gold futures fell to their lowest on Wednesday in eight weeks as the US Federal Reserve said that US economy is improving and decided not to go for further monetary policy easing. Stronger dollar also kept commodities under pressure. US Federal Reserve’s official decided to keep the interest rate unchanged to its ever low in […]
EIA Reports Increase in Crude Oil Stockpiles
Energy Information Administration released its inventories data on Wednesday according to which crude oil supplies gained 1.8 million barrels for the week ending March 9th, 2012 while analysts forecasted the increase of 2.1 million barrels. The EIA reported decrease of 1.4 million barrels in gasoline inventories while analysts expected the decline of 1.4 million barrels […]
Crude Oil Futures Gain on Positive Retail Sales Data
Crude oil futures gained on Tuesday in reaction to upbeat tone of Federal Reserve’s officials about the US economy and positive retail sales report. Crude oil futures contract for April delivery advanced 0.04 percent or $0.37 to settle at $106.71 per barrel on the New York Mercantile Exchange. On Monday, investors were very pessimistic on […]
Gold Futures Fell Over Global Economic Slowdown
Gold futures fell on Monday after the news of increase in China’s trade deficit which raised concerns over sluggish global economic recovery. China reported its trade deficit figure of $31.38 billion in February as compared to trade surplus of $27.28 billion in the month of January. The huge trade deficit figure was beyond the expectations […]
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