Gold and Oil News
Gold and Oil News - December 6, 2011 23:56
NYMEX Remains under Pressure in Reaction to Fears of Low Credit Rating for European Union Members
Crude oil futures remained under pressure on Monday in reaction to the announcement of Standard & Poor’s credit agency for a possible credit rating cut of European Union member countries from AAA to AA+. As per the latest report of S&P, Germany, France, the Netherlands, Finland, Austria and Luxembourg were in the list of possible […]
Gold Futures Settle Lower after a Strong Rally
Gold futures witnessed correction on Thursday as the investors went of profit taking. Gold futures contract for February delivery fell 0.6 percent or $10.50 to settle at $1,739.80 on Comex trading of the New York Mercantile Exchange. Gold futures rallied on earlier session in reaction to positive move of central banks around the globe to […]
EIA Reports Increase in Crude Oil Inventories
The Energy Information Administration reported a sudden increase in crude oil inventories on Wednesday which put the rallying oil prices under pressure at NYMEX. As per the latest report on the EIA, crude oil stockpiles increased by 3.9 million barrels for the week ended November 25th, 2011. Analysts expected the crude oil inventories to increase […]
Gold Futures Keep Rallying
Gold futures sustained their bullish rally for the consecutive second day on Tuesday on its safe haven status. Gold futures contract for December delivery gained 0.2 percent or $2.60 to settle at $1,713.40 per ounce on Comex trading of the New York Mercantile Exchange. However some of the analysts were of the opinion that investors […]
Crude Oil Reaches $100 in Reaction to Development in Euro Zone’s Situation
Crude oil futures reached their record level on Monday on optimism over euro zone’s debt situation. Crude oil futures contract for January delivery surged 1.5 percent or $1.44 to settle at $98.21 per barrel on the New York Mercantile Exchange. The respective contract touched its intraday high of $100.74 per barrel which happens to be […]
NYMEX Trading: Crude Oil Post Slight Gains while Gold ends Lower
Crude oil futures slightly gained on Friday after a volatile session on Friday. Analysts attributed rising US dollar as the reason for pressure on commodities. The dollar index DXY which measures the greenback’s performance against its six major rival currencies gained to 79.607 on Friday as compared to 79.099 on Wednesday’s North American trading session. […]
EIA Reports Decline in Crude Oil Inventories
Crude oil futures declined on Wednesday despite decline in inventories data by Energy Information Administration. Investors were uncertain over the latest US economic data and euro zone debt situation. Oil Analyst, Matt Smith from Summit Energy commented, “This highlights the lack of confidence in even the strongest economy in Europe, causing a flight from (euro-zone) […]
Gold Futures Fell to Record Low in Four Weeks
Gold futures fell to their lowest in four weeks on Monday as investors were uncertain over the euro zone debt situation and failure of talks of deficit reduction panel in United States. Gold futures contract for December delivery fell 2.7 percent or $46.40 to settle at $1,678.60 per ounce on the Comex trading of the […]
Gold Futures Fell 3.1 percent on Thursday
Gold futures reported a heavy decline on Thursday despite its safe haven status and increased demand for the third quarter. Gold futures contract for December delivery plunged 3.1 percent or $54.10 to settle at $1,720.20 per ounce on the Comex trading or the New York Mercantile Exchange. Many analysts were of the opinion that gold […]
Crude Oil Jumps as Stockpiles Decrease
Crude oil futures jumped on Wednesday in reaction to decreased crude oil inventories which resulted in increased demand for the crude oil. As per latest data by the Energy Information Administration, crude oil stockpiles declined by 1.1 million barrels for the week ended November 11th, 2011, while analysts expected the decline of 1.5 million barrels […]
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