Gold and Oil News
Gold and Oil News - July 18, 2012 23:52
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.
Crude Oil Declines on Norway Situation
Crude oil remained under pressure on Monday despite weaker greenback. The major reason behind sudden fall of oil was the decision of the Norway’s government to impose arbitration on petroleum workers’ labor strike.
Gold Rebounds on Attractive Levels
Gold futures recovered on Monday as investors took fresh position in the precious metal due to its highly attractive price levels. Gold futures contract for August delivery gained 0.7 percent or $10.20 to settle at $1,589.10 per ounce on the Comex division of the New York Mercantile Exchange.
Gold Futures Decline as ECB Cuts Interest Rate
Gold futures fell on Thursday in reaction to moves of the ECB and the Bank of England which created worries for global economy. The European Central Bank announced reduction in the key interest rate while the Bank of England opted for further easing measures. Though the move of European Central Bank was highly anticipated by […]
EIA Reports decrease of 4.3 Million Barrels in Oil Supplies
Energy Information Administration released its inventories report on Thursday according to which crude oil inventories declined by 4.3 million barrels for the week ending June 29th, 2012. Analysts on average expected the crude oil supplies to fell by 2 million barrels. EIA also released its data on gasoline inventories which increased by 200,000 barrels for […]
Gold Futures Plunge on US Fed’s Operation Twist Program
Gold futures declined on Wednesday mainly in reaction to the US Federal Reserve’s decision to continue its “Operation Twist†program till the end of the current year. US Fed’s “Operation Twist†program comprises of twisting the yield curve by selling short term securities while buying long term securities. The US Federal Reserve also decided to […]
EIA Report Increase of 2.9 Million Barrels in Oil Inventories
The Energy Information Administration on Wednesday released its inventories report according to which crude oil supplies increased by 2.9 million barrels for the week ending June 15th, 2012. Analysts on the other hand analysts on average forecasted the decrease 600,000 barrels for the respective week. The EIA also reported the increase of 900,000 barrels in […]
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