Commodities News

It is absolutely amazing the spread between crude oil and Brent sea oil remains above $7.00 while the price of Brent oil touched its lowest point as far back as one can remember. Brent oil is trading at 100.71 with the possibility of edging below $100 today. Brent crude slumped

Gold added $2.00 in the Asian session as traders took advantage of yesterday’s tumble to buy up the cheap commodity, but there was no conviction in the markets as most traders expected precious metals to continue to ease. Gold is trading at 1267.00 this morning.  Precious metals should resume their

December Comex Gold futures broke sharply lower on Tuesday as a stronger U.S. Dollar offset demand for gold from weaker stock prices and increased tensions over Ukraine. The markets were closed yesterday because of a U.S. bank holiday and traders were focusing on Thursday’s European Central Bank announcement and Friday’s

Traders will have to wait an extra day this week to get a look at the American Petroleum Institute’s report and the official EIA inventory release, which have been delayed one day due to the US Labor Day holiday. US markets were closed yesterday. This morning crude oil eased by

Gold took a hit on Monday and continues to decline this morning trading at 1281.60 down by $5.80 while silver gave up 24 pips to reach 19.468 and platinum fell $2.85 to reach 1422.45. There is a lack of demand for safe haven assets sending precious metals to September lows

Commodity markets are more focused on the Russia-Ukraine situation than on the disappointing manufacturing data from China. The eurozone continues to threaten more sanctions against Russia as President Putin hits back. The European Union is giving Russia a one-week ultimatum to scale back its intervention in Ukraine or face additional

Gold remains just above the 1290 price with low volume and no conviction as tensions seem to ease in the Ukraine. No one knows or seems to understand the Russian objective but strong US data seemed to offset any worries after US GDP soared to 4.2% and unemployment claims printed

December Comex Gold futures rose close to 1 percent on Thursday as tensions between Ukraine and Russia fueled speculative buying and triggered sell stops. Reports of fighting along the Ukraine-Russia border also helped to underpin the market. The news also triggered sell-offs in the U.S. and European stock markets. This

Crude oil eased a few cents in the Asian session to trade at 93.78 while Brent oil gained 7 points to reach 102.71.  On Wednesday West Texas Intermediate fell for the first time in three days as crude stockpiles increased at the biggest U.S. oil-storage hub. Oil prices dropped as

Gold continues to bounce up and down easing higher, but without support. Gold is trading this morning at 1286.40 up by $3.00 with a slew of important US data due as the month comes to close and then the all-important ECB meeting next week and the nonfarm payroll release next

Gold is asleep in the Asian session holding at 1284.50 after climbing a few dollars on Tuesday. Strong U.S. economic data and expectations of more stimulus from the European Central Bank dragged on the metal as they boosted the appeal of the U.S. dollar and equities. Gold was steady at

 December Comex Gold prices surged after two days of consolidation that indicated selling pressure had dried up. The rally was the biggest gain for the market in almost three weeks. Oversold technical conditions and strong support near a two-month low also contributed to the strength. Fundamentally, position-squaring ahead of talks

Crude oil gained 19 cents this morning but remains within its weekly trading range adding in the Asian session and ending up where it started by the end of the US session. Brent oil gained 12 cents this morning following cues from WTI to trade at 102.81. West Texas Intermediate

Gold trading is just about as uneventful as forex markets. Gold is trading at 1280.20 moving between small gains and losses.  Gold prices traded lower by 0.4 percent yesterday hovering near its lowest in two months on speculation that the U.S. Federal Reserve will raise borrowing costs next year, strengthening

December Comex Gold futures are trading slightly lower, but inside the trading ranges of the last two days. This chart pattern tends to indicate impending volatility. Technically, the market may be oversold after last week’s sharp sell-off. The chart pattern also indicates trader indecision. Confusion over the fundamentals may be

Gold continued to ease into the weekend and is trading at 1279.30 in the Asian session.  Gold closed the week at 1281.70 regaining some of its losses as traders bought up the cheap metal. Gold ticked up slightly at the end of the week after a five-day losing streak but

Gold prices climbed a bit in the morning session on Friday as traders bought up the cheap metal after it tumbled $30 on Thursday. Silver recovered 32 points but remained in its tight trading range at 19.447. gold prices declined by around 1.16 percent on Thursday to its lowest in

Oil prices returned to their down trend after gaining on Thursday. WTI crude oil is down 21 cents to trade at 93.75 while Brent Sea oil was down 18 cents at 102.49 after climbing from the 101 price level on Thursday. European shares ended the day in the green on

December Comex Gold traders continued to react to yesterday’s release of the somewhat hawkish Fed minutes on Thursday. The selling pressure was strong enough today to take out the recent bottom at $1281.00, changing the trend to down on the daily chart and setting up the market for further downside

Earlier this summer Goldman Sachs called for gold to drop to the 1280 range and then to continue its descent to 1220 and on to the 1100 price range. Many disagreed with their forecast and each time gold ticked higher due to the geopolitical climate the more they berated the