Other Markets
GOLD ANALYSIS
Spot Gold is trading higher for a fourth consecutive day in Europe Thursday as the euro continues to rise against the dollar and physical bullion demand holds firm. Market participants say the yellow metal continues to take its cues from other markets, primarily EUR/USD, which has climbed to its highest level since Jan. 5. Gold […]
GOLD ANALYSIS
Spot Gold prices made modest gains on Wednesday as the metal tracked a return of risk appetite on hopes of a solution the Greek debt deal and talk of additional support from the IMF. The metal continues to hold above the 200 moving average around $1640.80, and a weakening USD index along with heightened physical […]
CRUDE OIL ANALYSIS
Nymex crude prices were mixed yesterday with the March WTI contract posting a small loss on the day despite a firmer EUR/USD and a rise in gold prices. The API reported a 4.8mmbl draw in crude inventories last night which was in sharp contrast to analysts expectations of a 3mmbl build.
CRUDE OIL ANALYSIS
Crude futures retreated from early gains Wednesday as investor focus shifts back to Europe’s fragile economic picture and the International Energy Agency warned oil demand could suffer next year. Light, sweet crude for February delivery recently traded 53 cents lower at $100.18 a barrel on the New York Mercantile Exchange, down from as high as […]
GOLD ANALYSIS
Spot gold prices moved higher yesterday aided by higher crude oil prices amid a general” risk on” trading day and a broader rise in the commodity sector. Comments from the GFMS also helped sentiment with expectations of $2000/oz forecast for H2 2012 or early 2013 on the back of global economic concerns.
CRUDE OIL ANALYSIS
Nymex crude prices rallied yesterday led initially by a positive GDP data release from China which boosted Asian bourses and led risk appetite in Europe. Strong demand from leveraged accounts in the EUR/USD helped bolster crude prices following some reasonable auctions in Europe.
GOLD ANALYSIS
Spot Gold prices have consolidated, after a gradual climb during the Asian session saw prices hit a five week high at $1667.90. Gold prices began to correct back shortly before the European equity cash opening, but prices formed a base around $1658.85.
BUND ANALYSIS
German government bonds are opening lower Tuesday following improvement in risk-sentiment overnight after China GDP data and post S&P downgrade of the EFSF rating from AAA to AA+. However, Bunds are seen underpinned by continued eurozone sovereign debt jitters where Portuguese yield spreads after S&P downgraded its rating 2 notches into junk to BB, and […]
GOLD ANALYSIS
Spot Gold prices picked up on Monday largely reversing the slide of Friday following the EU downgrades in a generally quiet market with the NY market closed in observance of Martin Luther King Day. The metal picked up on firming oil prices and equities.
CRUDE OIL ANALYSIS
Nymex Crude Oil prices built steadily higher in thin markets yesterday due to the NY holiday. The February contract opened at $99.02 easing to $98.65 in Asia before heading up to highs of $99.77 in the afternoon and closing out the day at $99.67.
BUND ANALYSIS
(139,98)The BUND confirmed a strong closing on Friday ending the week just below 140, probably on the way toward the 141,77 s/t target. The indicators of the daily chart are well positive as well as those of the weekly one supporting further strength.
S&P ANALYSIS
(1282,80)The S&P confirmed a negative closing on Friday managing however to recover from a low at 1272,70. The weekly closing was instead still well positive, even strong. The indicators of the daily chart are well positive but still close to the overbought area; those of the weekly one are also positive supporting higher levels.