The midweek precious metals trading session started with a bit of a recovery effort following Tuesday’s price rout. Market participants pushed the US dollar a tad lower on the index and lifted gold prices by about half a percent.
Wholesale prices to buy gold ticked back above $1,570 per ounce in London trade Thursday lunchtime, but held onto a 0.5% loss for the session as stock markets fell ahead of today's euro crisis summit in Brussels – the 12th such meeting in 12 months.
As crude oil prices fall far below $100 a barrel, the trend is affecting the most oil-dependent economies in the world. You see, whether we're talking about a country or a company, having a "competitive advantage" is one of the most important principles.
All eyes are on the Federal Reserve monetary policy announcement as global economic growth concerns retake the spotlight from fears of a sudden rupture in the euro zone after the weekend’s pro-bailout outcome to the Greek general election.
Believe it or not, but crude oil prices are about to fall in a big way. Thanks to fresh technology, the market is about to see a big surge in the price of crude. We are on the cusp of a huge energy revolution. which will create a shifts in power and – therefore – wealth..
Commodity prices are on the upswing in early trade, with all eyes are on the European Central Bank interest rate decision. While markets are pricing in the probability that the ECB remains on hold this time around, traders hope for clues about forthcoming easing.
Commodity prices are showing diverging performance in early European trade. Growth-sensitive crude oil prices are following shares lower but likewise sentiment-linked copper is essentially flat. Meanwhile, gold and silver are on the upswing.
Despite a recent price pullback, my "oil constriction" approach for how to profit from high crude oil prices has not gone away. In fact, it is right on track. But we need to remember that the constriction in oil availability will not hit all oil sector shares the same.
The history of the US dollar is closely linked to US involvement in a series of wars. The loss of value in the dollar caused by excessive expansion of the money supply, together with rising demand for raw materials, has led to permanently higher global commodity prices.
Simply put, traders will want to get a sense for the likelihood of a QE3 program and the environment needed to produce it. If officials’ commentary is judged to signal that another expansion of the balance sheet is relatively likely, prices are likely to advance.