Commodities
Crude oil prices decline to fresh four-year low on OPEC decision not to cut output
On Thursday, Saudi Arabia blocked insistence of poorer OPEC members calling for production cuts, and sent benchmark crude oil to a fresh four-year low level. On Thursday, despite insistence by poorer OPEC members on production cuts to put a stop to sliding oil prices globally, Saudi Arabia blocked their calls and thus benchmark crude oil declined to More...
Gold price nearing a point where mine cuts and shutdowns are about to increase
Gold price, down by 36.7 percent in the past three years, is now nearing the verge after which a number of mines are likely to scale down production, while others would shut down. The price of gold, having already More...
People’s Bank of China liquidity injection boosts commodity markets
As the unofficial news came out of the People’s Bank of China liquidity injection into the country’s five major banks, commodities staged a recovery. Commodities entered into an upside correction, as the news More...
Brent crude oil slumps to lowest in over 2 years on China anxiety
The firm US dollar and meager economic data from China, the biggest oil consumer worldwide, resulted in yet another slide for Brent crude oil; the latter sank to its lowest level in over two years. On Monday, Brent More...
Gold slumps to 8-month low on Fed monetary tightening fears
Bullion continued its losing streak on the Comex division of the NY Mercantile Exchange and silver did likewise, as a survey fueled bets the Fed may signal a rate hike on its policy meeting next week. On the New More...
US crude rebounds following previous session’s losses
US crude oil futures made modest gains on Tuesday, with investors waiting to see the US weekly supply data. A slight correction was observed in West Texas Intermediate oil futures on Tuesday, from the grueling More...
Iron ore prices slump owing to huge global surplus
Iron ore prices dropped to the lowest since 2009; in China, steel demand is shrinking and mines are closing, but hopes are pinned on urban growth and hence larger steel demand, as Chinese urban population is growing. Prices More...
Gold touches 2.5-month low suppressed by a strong US dollar
Gold broke through the long-term dynamic support provided by the symmetrical triangle it had been trading in since the very beginning of 2014; the USD outperformance curbed demand for the precious metal. Gold More...
Commodities stay calm at the beginning of a week busy with central banks meetings
Excess volatility was absent on the commodities market on Monday, in the start of a week busy with central banks meetings. At the beginning of a busy week commodities moves were just scant. In addition to economic More...
Gold gains amid tensions in Ukraine and Middle East, against strengthening dollar and US economy
Gold gains for a second day, amid conflicts raging in Ukraine and in the Middle East; meanwhile the dollar extends its rally against the euro, on diverging monetary policy paths of the ECB and the Fed. It was a More...
