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Articles in the Gold and Oil Category

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[9 Jun 2011 | No Comment | ]

Oil prices experienced massive volatility on the back of the OPEC meeting yesterday. OPEC consists of 12 oil producing Member Countries and one of their prime aims is to coordinate and unify the petroleum polices of the Member Countries. Yesterday’s meeting was assembled to develop a consensus on how to manage the high oil price, which some believe has been driven up by speculation. The aim of the meeting was to agree to an increase in production in order to help stabilise the oil price and ultimately bring it down. …

Gold and Oil »

[26 May 2011 | No Comment | ]

Gold Futures and other metals gained on Wednesday’s trading session as the US dollar rebounded after reaching its highs making base metals attractive for investors. Silver futures contract also jumped 3 percent in today’s rally.
Gold futures contract for June delivery gained 0.40 percent or $5.50 to $1,528.80 per ounce in Comex trading session of New York Mercantile Exchange. The contract reached its low of $1,521.30 per ounce when the greenback surged.
The investors were uncertain about the Greece’s debt situation, moreover lower durable good order also created more uncertainty.
Analysts from VTB …

Gold and Oil »

[31 Mar 2011 | No Comment | ]

Gold and oil prices were higher in late Thursday (March 30) trade as investors took a renewed interest in commodities following an early week rise in the value of the US dollar.
One ounce of gold currently fetches $1,425.90 in late night New York GLOBEX trade. This is up over $7 from Tuesday’s close at $1,418.70.
Gold traded as low as $1,413 earlier in the day in New York NYMEX trade for speculators began a late day surge.
Oil prices are up $.31 in late Wednesday night trade after Wednesday’s settle price of …

Gold and Oil »

[25 Mar 2011 | No Comment | ]

Gold prices soared to a new intraday record high during Thursday’s (March 24) trade on the New York NYMEX. The precious metal traded as high as $1,447 before falling to a closing price of $1,430.80.
Wednesday’s closing price in New York established the new record high closing price at $1,438.60. The current gold spot rate in early Friday morning New York NYMEX trade is $1,436.40.
Investors trying to avoid higher risk investments in lieu of global political tensions have been moving back into gold.
Oil prices have also been higher in recent …

Forex, Gold and Oil »

[14 Mar 2011 | No Comment | ]

Global stock markets have slumped as investors become increasingly risk averse. The stock market in Tokyo has fallen by the greatest amount since 2008 and oil has been pulled back under $100 a barrel as speculators guess that production from the world’s second largest economy will slow and demand for oil will slow driving oil prices further south. The Nikkei 225 Stock average declined 6.2% with $306Bn wiped from Japanese equities markets. The S&P 500 and the Dow have followed suit losing over 1% as concerns over the fallout in …

Gold and Oil »

[11 Mar 2011 | No Comment | ]

A major 8.9 earthquake and tsunami struck Japan overnight in the United States, Friday afternoon in Northeast Asia.
Japan is the third largest consumer oil and the emotional response from speculators quickly knocked light sweet crude futures below $100. In early Friday morning New York NYMEX trade, crude futures are worth $100.05 per barrel
The dollar has made gains against both the euro and pound in sync with the declines in oil prices. The euro currently gets $1.37726, down two pips from recent highs. A pound is worth $1.59929, down nearly four …

Gold and Oil »

[2 Mar 2011 | No Comment | ]

Gold prices reached new heights on Tuesday (March 1) as increasing global political tension and buying in China helped drive speculation.
After an intraday move just over $1,435, gold closed Tuesday’s traded at a record closing price of $1,433.20. One ounce of gold currently fetches $1,432.50 in early Wednesday morning New York NYMEX trade.
According to top analysts, gold prices are moving higher partly because of global political tensions, but also because of significant gold buying in China, which is the second leading producer of gold in the world.
UBS AG has reported …