Gold and Oil News
Gold and Oil News - September 10, 2010 14:47
Oil prices near $76 after US pipeline shuts down
A shutdown of a major oil pipeline in Illinois combined with a bigger than expected drop in US crude inventories helped push oil prices for benchmark crude scheduled for October delivery to $75.65, up by $1.40 from Thursday’s (September 9) settle price on the New York Mercantile Exchange.
Gold moves closer to record
Gold prices moved closer to its all-time high on Wednesday (August 25) despite relative firmness in the dollar. One ounce of gold currently fetches $1,238 in early evening New York Globex trade.
Gold moving toward $1,200
The price of gold is currently (August 5) just below $1,195 after it briefly touched $1,200 on August 4th. Gold prices have been on a rebound after more than a $100 downward correction from the all-time high in late June of $1,261.
Oil prices below $80 as demand sluggish
Oil prices are hovering just below $80 per barrel, at around $79 for September crude delivery in Tuesday’s (July 27) early New York Mercantile Exchange trade. Still moving in sync with equities in the big picture, the price of oil is limited by continued reports of sluggish crude demand levels in the US.
Gold prices remain below $1,200
The price of gold remains flat below $1,200 and not much above its 60-day low of $1,180 in mid-morning New York trade. The current gold price spot rate in New York is $1,190.70 per ounce after a closing price of $1,194.50 on July 22nd.
Oil prices below $77 per barrel
Even though the Euro and Pound have been strong against the dollar this week, oil prices have fallen below the $77 level in Wednesday morning electronic trading on the New York Mercantile Exchange.
Gold below $1,200 despite US, dollar concerns
It is a bit unusual, but gold prices are currently falling in line with US economic concerns, equity index drops, and dollar losses. Typically, gold is known as the “safe money†investment when there is economic uncertainty.
Oil prices below $78 as Fed meetings conclude
As analysts and investors await the Federal Reserve’s announcement on interest rates later Wednesday (June 23), oil prices are trading below $78 per barrel on the New York Mercantile Exchange.
No immediate plan to import wheat: Pawar
No immediate plan to import wheat: Pawar New Delhi (PTI): The government has no immediate plans to import more wheat as buffer stock is satisfactory and production this season is expected to be near the targeted level, Agriculture and Food Minister Sharad Pawar said on Friday. ‘By and large we Source: c.moreover.com
Commodities see explosive growth
ETF Securities has experienced explosive growth as investors look for alternatives to the equity markets ETF Securities, which specialises in exchange traded funds tracking commodities, has seen total assets under management grow in the past 5 weeks by Read More… NEW YORK – Energy futures dropped below US$90 a barrel Wednesday after the U.S. government […]
Most Popular Content
- Gold and Copper Prices Dip Amid Trade Turbulence and Tariff Worries
- Copper Prices Hit New Heights Amid Global Trade Tensions
- Oil Markets Respond to OPEC+ Production Signals as Prices Find Support
- Gold Prices Reach Record Highs Amid Economic Uncertainty and Volatility
- Pressure Mounts on the British Pound Following Autumn Budget
- Impact and Outlook for the U.S. Economy on Rate Cut
- Gold and Copper Markets Respond to Powell
- US Stock Market Faces Turbulence and Mixed Commodity Reactions