The Swiss competition watchdog has launched an investigation into possible collusion in the precious metals market by several major banks, it said on Monday, the latest in a string of probes into gold, silver, platinum and palladium pricing.
Crude oil prices were under pressure after Mario Draghi magic seemed too eased off. Oh, sure, after Mario Draghi said he was disappointed with growth and the lack of inflation, oil got a bounce. Yet, when Asian and European stocks gave up the gains, oil prices falter until a headline came out about those Chinese Military ships that are moving off of the coast of Alaska.
If there’s anything that was news worthy in oil this week it was quickly lost in the quick quotes of Donald Trump's debate. Here’s the thing, the GOP debate likened to crude oil: nobody cares as long as America wins. So many have been trying so hard to call the “oil glut” a crisis when it’s just the opposite.
Crude oil prices are modestly higher for the second day in a row after a mildly bullish API oil inventory report release late yesterday. The gains in oil are primarily driven by short covering after a significant decline in prices that began in mid-June.
Crude oil prices ended their worst month since the 2008 financial crisis after 3 events in a row knocked oil and other commodities for a loop. Those three events in order are Greece, Iran and China; and while I guess you can't call them "black swan" events, the timing of all three colliding at the same time led to the oil markets July swan song.