Gold and Oil News
Gold and Oil News - October 4, 2012 21:33
Gold Slogs Through Broad Resistance
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
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
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 […]
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