Gold and Oil News
Gold and Oil News - July 29, 2011 23:52
Gold Futures Decline on Thursday as US dollar Strengthens
Gold futures declined on Thursday after reaching record levels in earlier sessions. The appreciation o fUS dollar was the main reason behind the bullish sentiments for gold. The dollar index DXY which measures the US dollar movement against its major six rival currencies gained to 74.209 on Thursday as compared to 74.088 on Wednesday’s late […]
Crude Oil Declines on unresolved US Debt Ceiling Talks
Crude oil futures fell on Wednesday as investors raised concerns if debt ceiling talks will be resolved. Analysts from Barclay commented, “With the U.S. failing to reach any agreement to tackle their debt issues, the probability of a downgrade remains, this, along with seasonal illiquidity, is likely to keep the downward pressure on prices intact, […]
Gold finally faces Correction on Wednesday
Gold futures settled lower on Wednesday as the investors opted for profit taking after series of bullish gold sessions. Gold futures contract for August delivery declined 0.1 percent or $1.70 to $1,615.10 per ounce at Comex trading of New York Mercantile Exchange.  The respective contract touched the day’s high of $1,628 but later fell to […]
Gold Futures reach their Record High
Gold futures reached their record high on Friday despite stronger US dollar and developments on euro zone’s sovereign debt crisis. Gold price contract for August delivery advanced 0.9 percent or $14.20 to $1,601.10 per ounce on Comex trading of New York Mercantile Exchange. On Monday the respective contract reached the day’s high of $1,605.50 which […]
Crude Oil moves in Bullish Drive
Crude oil futures gained on Friday as development on euro zone’s debt crisis made investors optimistic about crude oil. The light sweet crude oil futures contract for September delivery surged 0.7 percent or $0.66 to $99.69 per barrel on Friday at New York Mercantile Exchange. The respective contract jumped to day’s high of $99.95 per […]
Crude Oil slightly gains as Oil Inventories declined by 3.7 Million Barrels
Crude oil futures gained on Wednesday as Energy Information Administration reported the decline of 3.7 million barrels in crude oil inventories for the week ended July 15th, 2011. Analysts expected the oil inventories to decrease by 1.3 million barrels. The IEA reported the increase of 800,000 barrels in gasoline inventories as compared to analysts’ expectations […]
Gold Futures find Resistance at $1,600 per Ounce
Gold futures saw resistance at $1,600 per ounce on Wednesday after the positive development on US and euro zone’s debt situation. Senior market strategist, Adam Klopfenstein from Lind-Waldock in Chicago commented, “Optimism towards the budget and the debt-ceiling pulled gold lower,†he further added, “There’s still a lot of risk factors in the global economy.†[…]
Gold Futures Move Up Despite Disappointing Economic Situation
Gold futures slightly gained on Thursday as investors were uncertain over the implementation of QE3 in United States. Moreover stronger US dollar also kept pressure on base metals. Gold futures price for August delivery gained 0.2 percent or $3.80 to $1,589.30 per ounce on Comex trading session of New York Mercantile Exchange. The respective contract […]
Crude Oil remains under pressure on Thursday
Crude oil remained under pressure on Thursday as investors were uncertain over the implementation of quantitative easing 3 by US Federal Reserve. Crude oil futures contract for August delivery declined $2.36 to $95.69 per barrel on Thursday at New York Mercantile Exchange. Peter Beutel, President of trading advisory firm from Connecticut commented, “A lot of […]
Gold Futures Jump more than $23 to close at New Record Level
Gold futures jumped more than $23 per ounce and made their new record high on Wednesday as investors were uncertain over euro zone’s debt situation and shifted their focus towards the base metal due to it safe haven status. Moreover Bernanke’s latest comments gave hints for further demand of stimulus money which creates a negative […]
Most Popular Content
- Gold Flying and Making New All Time Highs
- Gold Prices Slip Ahead of Anticipated Economic Data
- Oil Prices Surge From Lows Amid Mixed Global Signals
- U.S. Stock Indices: A Dance Between Optimism and Fear
- Gold Prices Dance with CPI Data and the Fed
- Oil Prices Surge Amid Record Demand and Supply Tightening
- Gold Steady As US Dollar Index Tries to Make Gains
- Some Respite for Crude Oil within Bear Trend