Gold and Oil News
Gold and Oil News - October 2, 2012 22:21
Gold Continues to Base Below $1800
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
Gold futures slightly gained on Tuesday as the precious metal remained under pressure on comments of US Fed’s official Plosser and stronger greenback.
Crude Oil Declines in Reaction to Plosser Comments
Crude oil futures fell on Tuesday in reaction to comments of US Federal Reserve’s official Plosser that the Central Bank will probably launch the third round of Quantitative easing. Plosser also indicated that US Federal Reserve may increase short term interest rates much sooner than expectations.
Oil, Iran and the West
Oil prices ended down Tuesday after opening sharply higher in a market weighed down from the speech by an officer of the Federal Reserve of the United States (Fed) questioning the effectiveness of the latest stimulus from the institution. Crude oil futures in New York did not go positive into the green all morning, supported […]
All Eyes on Oil as Saudi Arabia Looks to Increase Production
Direction of the global economy remains dark and rumours are rife Saudi Arabia intends to further increase its oil production. This week the current contract expires on Brent Oil, which fell a further 0.6% to $111.3 but WTI held up at 0.2%. In the wake of the ECB and the Fed there has been a […]
Gold Jumps on ECB’s Bond Buy Program
Gold futures surged on Thursday and reached their higher level in last six months in reaction to announcement of European Central Bank regarding its bond buy program.
EIA Reports Decline of 7.4 Million Barrels in Oil Supplies
The Energy Information Administration released its report on Thursday which was delayed due to Labor Day this week. According to the EIA’s report, crude oil inventories fell by 7.4 million barrels for the week ending August 31st, 2012 while analysts predicted the drop of 5 million barrels. EIA also reported the its data on gasoline […]
Gold Declines ahead of ECB Meeting
Gold futures fell on Wednesday as investors had mixed opinions before the meeting of European Central Bank on Thursday. Investors are also keenly waiting of US jobs data due on Friday. Gold futures contract for December delivery fell 0.1 percent or $2 to settle at $1,694 per ounce on the Comex division of the New […]
Crude Oil Volatile on Weak Economic Data
Crude oil futures slightly gained on Wednesday after volatile session due to weak macroeconomic data, while on the positive side investors were hoping for decrease in oil inventories data. Investors were pessimistic after the decline in US manufacturing data which fell for the third consecutive month. The euro zone’s Markit purchasing managers’ index also turned […]
Gold Futures Drops ahead of Bernanke Speech
Gold futures declined on Wednesday mainly in reaction to stronger greenback while investors were also mixed over the decision of central bankers ahead of Bernanke speech. Gold futures contract for December delivery plunged 0.4 percent or %6.70 to settle at $1,663 per ounce on the Comex division of the New York Mercantile Exchange. US Federal […]
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