Gold Declines on Global Economic Concerns - October 10, 2012 21:50

Gold futures fell on Tuesday due to rising concerns over global economic scenario. While stronger dollar also kept commodities under pressure, investors were also more focused on corporate earnings. Gold futures contract for December delivery fell 0.6 percent or $10.70 to settle at $1,765 per ounce on the Comex division of the New York Mercantile […]

Crude Oil Declines on Global Demand Uncertainty - October 9, 2012 23:58

Crude oil futures declined on Monday as investors remained uncertain over global demand of oil in reaction to slow Chinese economic growth. The World Bank on Monday reduced its growth forecasts for the East Asia and the Pacific region which created concerns over economic activity in the regions. The World Bank also indicated that Chinese […]

Gold Bounces Off of $1769 as Election Looms in the Background - October 9, 2012 0:22

I’m not sure what significance $1769 has but the bulls drew their own line in the sand around $1770 all day today, never once allowing the yellow metal to close on an hourly basis below $1771.15 on the December contract.  It was a risk-off kinda day as equities drifted lower and Silver was whacked below […]

NFP Beat Stuffs Gold But Ends Higher on the Week - October 6, 2012 0:19

The final Non-Farm-Payroll report from the U.S. Bureau of Labor Statistics led with a headline drop of 0.3% in the U-3 Unemployment Rate in September, allowing President Obama the opportunity to crow about how many McJobs he created in his 4 year term and that’s why we should give him another 4 years to finish […]

Crude Oil Inventories Decline by 500,000 Barrels: Report EIA - October 4, 2012 23:56

The Energy Information Administration reported decline of 500,000 barrels in crude oil supplies for the week ending September 28th, 2012. Analysts were expecting increase of 1.5 million barrels in the crude oil inventories for the respective week. Moreover analysts from BNP Paribas reported that oil production was up by 12 percent as compared to last […]

Gold Slogs Through Broad Resistance - October 4, 2012 21:33

So far this week Gold has make three attempts at the $1800 per ounce level.  Two off them happened today and were rebuffed.  The first one happened on the COMEx open and the second one, interestingly, happened on the COMEX close.  I spent a lot of this morning watching a 15-minute chart of the price […]

Oil Prices Crack Below $90, Spread Widens - October 3, 2012 23:12

West Texas Intermediate crude prices fell back below $90 per barrel today as uncertainty over the situation in Spain continues to overhang the post-QEternity markets.  Brent Crude held onto $108 per barrel putting the spread between them at $20, the most this year, which suggests the low WTI prices are more of an American phenomenon […]

Gold Continues to Base Below $1800 - October 2, 2012 22:21

Gold attempted again this morning to mount an assault on the $1800 per ounce area.  While not as dramatic as yesterday’s spike high near $1794, today’s action in the moments before the COMEX open had gold bulls licking their chops until that market opened.  The selling started in the Silver pits at 8:25 EST and […]

Gold Gains Despite Negative Comments of Plosser - September 26, 2012 23:55

Gold futures slightly gained on Tuesday as the precious metal remained under pressure on comments of US Fed’s official Plosser and stronger greenback.