Gold and Oil News
Gold and Oil News - October 16, 2012 22:02
Gold Rebounds on Euro Gains
Yesterday’s flush of Gold down to $1730 served to be a wake-up call to the bulls who had been lying in wait for a further correction. Their patience was rewarded. With the Euro, however, moving back over the $1.30 level today that made it difficult for the bears to hold the price down below $1740.For […]
Sell Off in Gold Intensifies Drops Below $1750
Gold is caught between the QEIII announcement and the actual start of it. Regardless of what the Federal Reserve said they would do, since September 13th’s announced open-ended, without conditionality, QE to infinity the Fed has done nothing except contract the monetary base.  This is in direct conflict with what they said they would do, […]
Gold Ends the Week off $25
A week of mild long liquidation took place in Gold this week as the markets were in risk-off mode for much of it. After a $250 run up, sincere capping efforts on the part of the central banks and some rotation back into U.S. treasuries saw Gold finally put in what can be considered a […]
Crude Oil Gains on Supply Uncertainty
Crude oil futures gained on Tuesday despite stronger US dollar as investors were concerned over global oil supplies on threat of Syrian conflict may be spreading to other mid eastern countries. Moreover, the move of China for tackling slower growth in their economy also boosted the investors’ sentiment. On Tuesday, the People’s Bank of China […]
The Word of the Day is $1765
One look at an intraday chart of Gold and you can see where the line in the sand for the day was drawn. The 15 minute chart of gold shows it very clearly, especially if you look at it with the volume up at the same time. Anyone vaguely acquainted with Auction Market Theory can […]
Gold Declines on Global Economic Concerns
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
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
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
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
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 […]
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