Gold and Oil News
Gold and Oil News - February 14, 2012 23:47
Crude Oil Reaches its Highest in Five Weeks on Iran Tensions
Crude oil futures gained on Monday and reached their highest in five weeks in reaction to oil supply tension in Middle East by Iran. Moreover, the approval austerity measures program by the Greek parliament also resulted in high demand for the crude oil. Analyst Matt Smith from Summit Energy commented, “Crude prices are on the […]
Gold Gains On ECB’s Decision for Monetary Easing
Gold futures gained on Thursday in reaction to agreement of Greece’s leaders for austerity deal while European Central Bank decided to keep moving in direction of monetary easing. Gold futures contract for April delivery gained 0.6 percent or $9.90 to settle at $1,741.20 per ounce on the Comex trading of the New York Mercantile Exchange. […]
Energy Information Administration Reports Increase in Supply Data
Energy Information Administration released its report on crude oil inventories on Wednesday according to which crude oil stockpiles increased by 300,000 barrels for the week ending February 3rd, 2012 while another trade group American Petroleum Institute reported the decrease of 4.5 million barrels in the crude oil inventories. Analysts were expecting the supplies to increase […]
Gold Futures Gain on Greece’s Development
Gold futures ended higher Tuesday in reaction to positive signs over Greece’s bailout package. Gold futures contract for April delivery surged 1.4 percent or $23.50 to settle at $1,748.40 per ounce on the Comex division of the New York Mercantile Exchange. Moreover, US Federal Reserve’s Chairman Ben Bernanke indicated for further monetary easing in his […]
Crude Oil Declines on Greece Worries
Crude oil futures ended lower on Monday as investors were uncertain over the Greece’s debt situation. In reaction to uncertainty over the Greece’s second bailout package the greenback strengthened further putting pressure on the commodities. Crude oil futures for March delivery fell 1 percent or $0.93 to $96.91 per barrel on the New York Mercantile […]
Gold Futures Reach Their Record High
Gold futures reached their highest level since November uncertainty over the Greece’s debt situation remained strong among investors. Gold futures contract for April delivery gained 0.6 percent or $9.80 to settle at $1,759.30 per ounce on Comex division of the New York Mercantile Exchange. The respective contract touched the intraday high of $1,763.80 per ounce […]
EIA Reports More Than Expected Increase in Supplies Data
Energy Information Administration released its figures on crude oil inventories on Wednesday reporting higher than expected increase in supplies data. As per report of EIA, crude oil stockpiles increased by 4.2 million barrels for the week ending January 27th, 2012 as compared to analysts expected increase of 3 million barrels for the week. Gasoline inventories […]
Gold Futures Gain After a Volatile Session
Gold futures gained after a volatile session on Tuesday as investors shifted to less riskier assets on weaker US economic data. The gold futures contract for April delivery gained 0.4 percent or $6 to settle at $1,740.40 per ounce on the Comex division of the New York Mercantile Exchange. The respective contract touched its intraday […]
Crude Oil Futures Keep Up the Bullish Rally
Crude oil futures ended higher on Thursday but closed lower than $100 per barrel mark on recovery of the greenback. Investors remained mixed on Thursday as the US stock markets also turned lower while US economic data also gave mixed signals. As per data of US Commerce Department, new home sales fell 2.2 percent in […]
Gold Futures Rally as the Greenback Weakens
Gold futures rallied on Wednesday and crossed the psychological barrier of $1,700 per ounce as the US dollar declined and US Fed announced to keep the interest rate at their lowest. Managing director, Jeffery Wright from Global Hunter Securities commented, “It looks like someone awoke to the fact that loose monetary policy will eventually impact […]
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