Gold and Oil News
Gold and Oil News - August 30, 2012 23:51
EIA Reports Increase of 3.8 Million Barrels in Oil Stockpiles
Energy Information Administration released its inventories report on Wednesday according to which crude oil supplies jumped by 3.8 million barrels for the week ending August 24th, 2012. On the other hand American Petroleum Institute reported much higher increase in oil supplies a day earlier in its report. Analysts on average were expecting the decrease of […]
Gold Declines on Lower Consumer Sentiment
Gold futures fell on Tuesday in reaction to the negative reading of consumer sentiment which depicts sluggish economic growth. Gold futures contract for December delivery dropped 0.4 percent or $5.90 to settle at $1,669.70 per ounce on the Comex division of the New York mercantile Exchange.
Crude Oil Gains on Supply Concerns
Crude oil futures gained on Tuesday as investors were concerned on oil supply and production which has been affected due to Hurricane Isaac in the Gulf of Mexico. Crude oil futures contract for October delivery surged 0.9 percent or $0.86 to settle at $96.33 per barrel on the New York Mercantile Exchange. Crude oil remained […]
Gold Gains on QE Expectations
Gold futures started the week on positive note as investors are hoping for monetary easing measures by US Federal Reserve after the meeting of central banks. Gold futures contract for December delivery surged 0.2 percent or $2.70 to settle at $1,675.60 per ounce on the Comex division of the New York Mercantile Exchange.
Crude Oil Falls as Isaac Threatens Refinery Industry
Crude oil futures declined on Monday as the refinery industry in the Gulf of Mexico seems in highly vulnerable due to Tropical Storm Isaac. Crude oil futures contract for October delivery declined 0.7 percent or $0.68 to $95.47 per barrel on the New York Mercantile Exchange while touched its intraday high of $97.72 per barrel. […]
Crude oil Jumps on Chinese Data
Crude oil futures gained on Tuesday as China reported better than expected manufacturing data which neutralized the negative impact of euro zone debt problems. HSBC’s purchasing managers’ index for China gained in July reaching its highest level in five months. On the other hand PMI for the euro zone remained unchanged at 46.4 in July […]
Gold Declines on Bernanke Speech
Gold futures fell on Tuesday as investors remained mixed on Bernanke speech regarding further monetary easing measures. Gold futures contract for August delivery fell 0.1 percent or $2.10 to settle at $1,589.50 per ounce on the Comex division of the New York Mercantile Exchange.
Crude Oil Reaches Its Highest In Seven Weeks
Crude oil futures gained on Tuesday and reached their highest level in seven weeks as investors were still uncertain after the speech of US Federal Reserve’s Chairman Ben Bernanke. Bernanke gave no hints on further easing measures and admitted that US economy is still slow. Crude oil futures contract for August delivery surged 0.9 percent […]
Gold Moves Contrary to Other Metals
Gold futures ended lower on Wednesday while other metals gained as investors were waiting for minutes of Federal Reserve’s latest monetary policy meeting. Gold futures contract for August delivery fell 0.3 percent or $4.10 to settle at $1,575.70 per ounce on the Comex division of the New York Mercantile Exchange.
Oil Supplies Drop by 4.7 Million Barrels: Repots EIA
The Energy Information Administration published its weekly report on oil inventories on Wednesday according to which crude oil inventories fell by 4.7 million barrels for the week ending July 6th, 2012 while analysts forecasted the decline of 4.7 million barrels for the respective week.
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