Commodities News

U.S. New Home Sales surged to a 5 ½ year high in January, sending the U.S. Dollar sharply higher. According to the U.S. Commerce Department, sales jumped 9.6 percent to a seasonally adjusted annual rate of 468,000 units, the highest level since July 2008. Analysts were looking for a decline

Gold is surprising many metal dealers; just a few weeks ago major brokers and analysts were predicting gold to tumble as low as $1120 before the spring time. Commodity traders seemed oblivious to the dire predictions as gold tipped a recent high this week and closed at 1342 on Tuesday.

April crude oil futures fell sharply on Tuesday. Speculators drove the market lower before a government report on Wednesday which is forecast to show U.S. stockpiles expanded. Worries about a drop in Chinese demand also pressured prices. Technically, the market had reached overbought levels which in layman’s terms usually means

Gold gave back some of yesterday’s gains in early Asian trading declining by $4.20 to trade at 1333.80 remaining close to the top of its trading range. Silver gave up 159 points continuing its wild swings to trade at 21.93. Gold is seen gaining strengthen on concerns over growth in

Despite the surge in U.S. equity markets and a relatively flat U.S. Dollar, April Gold futures finished sharply higher on Monday. Uncertainty over a possible economic slowdown in China and the U.S. are said to be the catalysts behind the rally. Traders are questioning the pace of the recovery due

Friday was a crazy day in the energy markets, with traders selling off to book obscene profits as crude oil and natural gas continued to climb mid session as the winter storm blanketed the US east coast and the weatherman called for more snow and cold throughout the balance of

Gold ended the week on a positive note at 1324, but eased a bit in the Asian session on Monday giving up $2.60 to trade at 1321.00. Silver followed cues from gold to give up 200 points to trade at 21.615. The negative tone of the markets weighed on both

Crude oil gained in the Asian session to trade at 102.78 adding 3 points. West Texas Intermediate crude slipped from a four-month high after the Energy Information Administration said U.S. inventories climbed. Brent declined to trade at 110.90. WTI dropped 0.4 percent. Crude supplies increased for a fifth time in

Gold is treading between small gains and losses this morning after declining on Thursday to trade at 1317.90, while silver eased by 61 points to trade at 21.623. Market participants are closely watching for developments from this weekend’s Group of 20 meeting of finance ministers and central bank chiefs in

Chinese HSBC PMI manufacturing data printed much lower than expected this morning. The preliminary China Purchasing Managers’ Index from HSBC for February fell to a seven-month low of 48.3 from January’s final reading of 49.5, as employment fell at the fastest pace in five years. “The building-up of disinflationary pressures

The old familiar phrase goes “Diamonds are a girl’s best friend” but soon it maybe “Diamonds are an investors best friend”.  Lately there have been several articles that have caught trader’s attention as gold seems to have lost its luster since touching the 1900 price a bit ago. Many speculators

April crude oil futures finished higher on Wednesday. Today’s strength surprised some traders because many felt that yesterday’s strong surge was overdone. Crude oil rallied sharply higher on Tuesday because of high demand in futures contract expiration and increased cold weather demand for gasoline and heating oil. The news that

Gold prices are expected to move higher for the day as safe haven buying of Gold and upcoming poor US data expectations can push the prices higher. Gold tumbled in the Asian session giving up $9.20 to trade at 1315.20. Today US Building permits; PPI and housing starts with UK

Gold is trading at 1318.90 holding flat this morning after US markets were closed on Monday for the US Presidents holiday. There was little news or data and light trading over the holiday. Gold prices increased around 0.8 percent yesterday on the back of rising trend in gold ETF’s holdings

Crude oil continued its climb added by the weak US dollar and the continued cold across the US as heating demands far exceed estimates. Crude oil added 30 points to trade at 100.44, while Brent oil climbed to 109.80 on Monday and remains flat this morning. A weak dollar supports

April Gold prices continued to rise on Monday in limited price action because of the U.S. Presidents’ Day holiday. Demand for physical gold remains strong. Another reason suggested by investors for the rally is hedge protection against a possible top and subsequent meaningful break in the global equity markets. Whatever

Crude oil continues to skyrocket adding 18 cents this morning as the US dollar weakened. Crude Oil prices are expected to move in a range to lower for the day, as closure of US markets today would reduce the volumes and mixed bag of data coming from US and China

Gold is trading at 1305.40 this morning gaining $5.30 in the Asian session as traders took advantage of the weak dollar to buy up the commodity. Risk aversion slightly pushed the shiny metal giving it the momentum to break the all-important 1300 resistance level. Global gold extended gains to hit

European stocks closed higher on Wednesday as investors around the globe cheered a combination of U.S. Federal Reserve Chair Janet Yellen’s reassurance of supportive monetary policy, strong Chinese export data and a U.S. debt deal in Congress. U.S. stocks were mixed on Wednesday, with Procter & Gamble’s reduced earnings outlook

The GBP/USD surged to the upside overnight after the Bank of England raised its projections for 2014 U.K. growth. According to the BoE, U.K. growth is expected to increase 3.4% this year. Earlier projections were for a growth rate of 2.8%. The BoE also added that it looked for the