Gold and Oil News
Gold and Oil News - August 18, 2011 23:46
Crude Oil Gains despite Increase in Oil Inventories
Crude oil futures gained on Wednesday despite increase in US oil inventories reported Energy Information Administration. As per latest report of EIA, crude oil inventories increased by 4.2 million barrels for the week ended August 12th, 2011. On the other hand analysts were expecting oil supplies to decrease by 500,000 barrels for the respective week. […]
Oil Falls on Tuesday in Reaction to Reduced Global Demand
Crude oil futures declined 1.4 percent on Tuesday on reaction to uncertainty over oil’s global demand outlook. Selling pressure was for crude oil futures as escalating political crisis in Middle East and North Africa followed by oil spill in North Sea raised concerns. Crude oil futures contract for September delivery declined $1.23 to settle at […]
Gold Futures Make another Record on Tuesday
Gold futures contract made their record level despite weak European economic data. Gold futures for December delivery gained 1.5 percent or $27 to settle at $1,785 per ounce in Comex trading of New York Mercantile Exchange. Its earlier record which was made on August 10th stood at $1,784.30 per ounce. However for on Tuesday the […]
Gold declines on the Last day but posts Gains for the Week
Gold futures ended lower on Friday as investors went for profit taking. Gold futures contract for December delivery declined 0.5 percent or $8.90 to $1,742.60 per ounce on Comex trading session of the New York Mercantile Exchange. Though the respective contract declined on the last day of the week but was up by 5.5 percent […]
Crude Oil Futures witness Profit Taking on Friday
Crude oil futures declined on Friday as investor opted for profit taking. Some negative sentiment was also seen in the market due to reduced consumer sentiment report. President of Strategic Energy & Economic Research in Massachusetts commented, “The consumer sentiment (data) didn’t help … People figured, better to stay out for the weekend.†According to […]
Gold Rally Reaches its Record
Gold futures contract reached their record again on Wednesday as investors turned their focus toward safe haven status of gold in reaction to sluggish global economy. Â Moreover, the decision of US Federal Reserve to keep interest rate at its lowest also boosted gold prices. Precious metals analysts, Jim Steel from HSBC in New York commented, […]
Crude Oil Jumps on Wednesday on Upbeat Inventories Data
Crude oil futures gained on Wednesday on the latest US inventories data. As per latest report of Energy Information Administration crude oil inventories reduced by 5.2 million barrels for the week ended August 5th, 2011 while analysts expected the increase of 1.8 million barrels for the respective week. EIA reported the increase of 1.6 million […]
Oil Prices Rise After A Slowdown in Output Is Shown
The price of Crude Oil futures rose by a whopping 4.5% on Wednesday after the reported inventory data showed that output fell by 5.2 million barrels during the previous week. This ended a short two days of losses on oil prices. September Crude Oil futures ended the day at $82.89 at Nymex, whilst Brent Crude […]
Gold Futures Reach Record Levels on US Monetary Policy
Gold futures reached their record levels on Tuesday as US dollar weakened in reaction to latest Federal Reserve’s meeting. The US Federal Reserve’s Open Market Committee decided not to change the interest rates due to sluggish economic growth. This resulted in shift of focus to safe haven investments such as gold. Gold futures contract for […]
Crude Oil Plunges on Increased Supply
Crude Oil futures declined on Thursday and reached their lowest level since February. The main reason behind the decline was latest inventories data which increased more than expectations. The Energy Information Administration reported the increase of 44 billion cubic feet for the natural gas inventories as compared to forecasted increase of 32 billion cubic feet. […]
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