Commodities News

Gold is flat this morning as traders continue to focus on the FOMC statement and comments from new Fed Chief Janet Yellen. Ms. Yellens comments have been the focus of the markets since Wednesday. There is little data due to effect metals trading today. Gold is trading at 1331.50 while

Obama and the European Union have ramped up pressure on Russia over the annexation of Crimea, imposing sanctions on senior figures close to President Vladimir Putin, who retaliated in a deepening of the worst East-West crisis since the Cold War. European Union leaders slapped an asset freeze and travel ban

April Gold prices finished lower on Thursday as investors continued to liquidate their long positions and hedgers sold off their long side protection. Also contributing to the drop in price was the surge in the U.S. Dollar. The Greenback rallied sharply higher on Wednesday and overnight after Fed Chair Janet

Bullion fell about 2 percent on Wednesday, its biggest one-day drop in three months, as the dollar rallied after the Federal Reserve dropped a set of guideposts it had been using to help the public anticipate when it would finally start bumping borrowing costs up from zero. Gold continued to

Is it good news or bad for crude oil? “This Week in Petroleum” published by the EIA stated off with an analysis of the 29% drop in inventory at Cushing Oklahoma. Crude oil inventories at Cushing, Oklahoma, the primary crude oil storage location in the United States and the delivery

The GBP/USD jumped on Wednesday after the latest U.K. jobs report showed improvement. According to the Office for National Statistics, the number of people claiming unemployment benefits fell by 34,600 in February. Economists were looking for a 25,000 decline. Traders rallied the British Pound because the strength of this report

Crude oil traders are awaiting this afternoon’s official EIA inventory release while easing 36 cents this morning after rallying on Tuesday late in the day as traders shifted sentiment after comments from President Putin that Russia was not looking to annex any other territory. Crude oil is trading at 98.52

Gold continued to decline in the Asian session this morning giving up $3.00 to trade at 1356.00 ahead of the FOMC decision. Gold prices fell to the lowest levels of the session on Tuesday, as investor sentiment improved following a speech by Russian President Vladimir Putin, but mixed U.S. data

Crude oil continued to ease this morning trading at 97.53 down by 10 cents following Monday’s fall as tensions in the Ukraine subsided and the vote in Crimea went off without a hitch. Oil prices fell modestly Monday as markets downplayed fears of disruptions to Western European energy supplies after

Gold eased by just under $12.00 in the morning session as traders began to focus on the Federal Reserve monetary policy meeting which will end with Janet Yellen’s press conference at 1400 GMT tomorrow. Wall Street rallied on Monday, with the Dow industrials rebounding after a five-day losing streak, as

April Comex Gold futures finished lower on Monday. The market rallied initially as investors awaited the results of the Crimean referendum. Citizens approved Crimea’s secession from Ukraine to Russia. Investors didn’t seem to be too worried about the news. The lifting of the uncertainty over the vote is what underpinned

With the vote in the Crimea showing that 96% of the voters favor returning to Russia the backlash between the West and Russia threaten global markets. President Obama today has threatened sanctions against Russia while the Eurozone is ready to implement a long list of embargoes and the freezing of

Gold was just below $1,382 per ounce, the six-month high it reached last week. The Japanese yen weakened 0.2 per cent to 101.5 against the US dollar after gaining for five straight sessions. China’s markets, which are mostly closed to foreign investors, were heading in a different direction. The Shanghai

April Comex Gold finished sharply higher on Friday as investors added to their long positions ahead of the week-end. Speculative and hedge buying continued as investors bet the conflict between Ukraine and Russia would escalate over the week-end. Last night Russia increased its presence along the Ukraine border as troops

Gold eased by $1.70 to trade at 1370.90 as traders sit tight ahead of next week’s FOMC meeting and keep an eye on global tensions in Eurasia. Gold prices gained around 0.2 percent yesterday taking cues from escalating geo-political tensions between Russia and Western nations over Ukraine. Russia launched new

U.S. oil price rose Thursday as the country’s economic data came in better than expected. U.S. import and export prices increased at a faster pace in February, said the Labor Department, with import prices rising 0.9 percent and export prices up 0.6 percent, topping market consensus. A separate report by

Crude oil recovered 10 cents this morning after falling below the $99 price level on Wednesday. WTI crude is holding at 98.09 but should continue to drop today after disappointing data continued to flow from China. Brent oil is flat at 107.47 with the spread now adjusting closer to normal

Gold eased $1.40 as traders sold off to book profits after gold touched 1370 on Wednesday. Gold prices gained around 1.3 percent yesterday taking cues from escalating tensions in Ukraine wherein the EU agreed on a framework on Wednesday for its first sanctions on Russia since the Cold War, a

May Crude Oil futures sold off sharply on Wednesday after the U.S. Department of Energy said it would sell up to 5 million barrels of crude oil from the Strategic Petroleum Reserve. The move is designed to test the capabilities of the country’s emergency stockpile. According to U.S. Department of

WTI crude oil continues to tumble giving up 78 cents this morning to trade at 99.25. It seems that energy speculators have just turned their backs on oil after pushing it a week ago to 105.00. Brent oil eased but not nearly as strongly to trade at 107.46 with the