Crude Oil Gains on Positive US Jobs Numbers - July 30, 2011 0:00

Crude oil futures gained on Thursday as US jobless numbers reduced substantially. As per the latest report of US Labor Department, the jobless claims declined 398,000 as compared to 400,000. Crude oil futures contract for September delivery gained $0.04 to $97.44 per barrel on New York Mercantile Exchange after touching its day’s highest of $98.01 […]

Gold Futures Decline on Thursday as US dollar Strengthens - July 29, 2011 23:52

Gold futures declined on Thursday after reaching record levels in earlier sessions. The appreciation o fUS dollar was the main reason behind the bullish sentiments for gold. The dollar index DXY which measures the US dollar movement against its major six rival currencies gained to 74.209 on Thursday as compared to 74.088 on Wednesday’s late […]

Crude Oil Declines on unresolved US Debt Ceiling Talks - July 28, 2011 21:09

Crude oil futures fell on Wednesday as investors raised concerns if debt ceiling talks will be resolved. Analysts from Barclay commented, “With the U.S. failing to reach any agreement to tackle their debt issues, the probability of a downgrade remains, this, along with seasonal illiquidity, is likely to keep the downward pressure on prices intact, […]

Gold finally faces Correction on Wednesday - July 28, 2011 19:19

Gold futures settled lower on Wednesday as the investors opted for profit taking after series of bullish gold sessions. Gold futures contract for August delivery declined 0.1 percent or $1.70 to $1,615.10 per ounce at Comex trading of New York Mercantile Exchange.  The respective contract touched the day’s high of $1,628 but later fell to […]

Gold Futures reach their Record High - July 22, 2011 23:41

Gold futures reached their record high on Friday despite stronger US dollar and developments on euro zone’s sovereign debt crisis. Gold price contract for August delivery advanced 0.9 percent or $14.20 to $1,601.10 per ounce on Comex trading of New York Mercantile Exchange. On Monday the respective contract reached the day’s high of $1,605.50 which […]

Crude Oil moves in Bullish Drive - July 22, 2011 22:26

Crude oil futures gained on Friday as development on euro zone’s debt crisis made investors optimistic about crude oil. The light sweet crude oil futures contract for September delivery surged 0.7 percent or $0.66 to $99.69 per barrel on Friday at New York Mercantile Exchange. The respective contract jumped to day’s high of $99.95 per […]

Crude Oil slightly gains as Oil Inventories declined by 3.7 Million Barrels - July 22, 2011 0:32

Crude oil futures gained on Wednesday as Energy Information Administration reported the decline of 3.7 million barrels in crude oil inventories for the week ended July 15th, 2011. Analysts expected the oil inventories to decrease by 1.3 million barrels. The IEA reported the increase of 800,000 barrels in gasoline inventories as compared to analysts’ expectations […]

Gold Futures find Resistance at $1,600 per Ounce - July 21, 2011 22:06

Gold futures saw resistance at $1,600 per ounce on Wednesday after the positive development on US and euro zone’s debt situation. Senior market strategist, Adam Klopfenstein from Lind-Waldock in Chicago commented, “Optimism towards the budget and the debt-ceiling pulled gold lower,” he further added, “There’s still a lot of risk factors in the global economy.” […]

Gold Futures Move Up Despite Disappointing Economic Situation - July 15, 2011 23:08

Gold futures slightly gained on Thursday as investors were uncertain over the implementation of QE3 in United States. Moreover stronger US dollar also kept pressure on base metals. Gold futures price for August delivery gained 0.2 percent or $3.80 to $1,589.30 per ounce on Comex trading session of New York Mercantile Exchange. The respective contract […]