Dollar rebounds from 3-year low, HSBC steady ahead of full-year results [Read More...]
Mexican acquisition vehicle takes control of shale explorer Pelsa [Read More...]
Spot Gold Trading View: now having support zone 1335 holding below support zone means 1329 & 1322 easily looking other wise again rise up to resistance level 1348 & 1355… [Read More...]
Gold futures started off the trading week in the red as the US dollar strengthened, continuing last week’s momentum when it posted a 3% gain. American financial markets are closed for Presidents Day, which is making for a quiet trading session. April gold futures tumbled $6.29, or 0.46%, to $1,349.60 per ounce at 14:34 GMT on Monday. The yellow metal finished the week 3% higher, and it settled at its best level in three weeks. Silver, the sister commodity to gold, is also unable to create a rally. March silver futures slipped $0.07, or 0.46%, to $16.63 an ounce. The white metal posted a 1.3% weekly gain last week. Precious metals are taking a hit on a stronger US dollar as the greenback jumped 0.31%. A higher greenback … [Read More...]
Gold nears 18-month high, dollar approaches 3-year low [Read More...]
Patrick Pouyanné pledges returns to shareholders as oil groups learn from past mistakes [Read More...]
Washington is considering imposing hefty tariffs on aluminium and steel imports from several of its key trading partners in a move that would impact commodities and miners. Meanwhile trading will be subdued today as a result of a US public holiday and the Lunar New Year break in several Asian nations. [Read More...]
Prices for natural gas were consolidating after a decline on the four-hour chart of natural gas, resulting in a formation of a descending triangle pattern. It is usually a continuation pattern, which suggests an extensions of the previous drop after a period of consolidation. Such pattern forms as prices bounce off a support level with ever decreasing volatility. A breakout occurs when prices drop below the support. On the present chart, the triangle is shown by the yellow lines. The cyan line, which is situated 10% of the triangle’s width below the lower border, offers an entry point for short positions in a case of a downside breakout. The green line, which is situated below the cyan line by the pattern’s width, offers a … [Read More...]
SOURCE: Commodities – Read entire story here.
IEA describes US growth as ‘extraordinary’ [Read More...]
In my report to clients this morning I identified 64.40 63.59 and 63.38 as 3 key supports in Brent Crude. After failing to hold 64.40 we have dipped back and found buyers in between the next two. … [Read More...]
Copper futures have been surging this week in the wake of President Donald Trump’s $1.5 trillion infrastructure announcement. Copper spiked more than 2% on Tuesday as investors expect higher demand from the US government, as well as state and local governments, amid exorbitant infrastructure spending. March copper futures rose $0.07, or 2.27%, to $3.1565 per pound at 16:27 GMT on Tuesday on the Comex division of the New York Mercantile Exchange. The industrial metal inched two cents higher to start the trading week, and copper is trying to pare its year-to-date losses. On Monday, the White House released its 55-page, $1.5 trillion infrastructure plan. Under the proposal, the federal government will chip in $200 billion, but Washington will require state and local governments to participate in … [Read More...]
PotashCorp plans to sell a big stake in Chile’s SQM, a key supplier of the metal [Read More...]
At the risk of sounding repetitive today’s markets story is the same as it’s been every single day this week: equities worldwide are bounding higher the dollar is bleeding and the yen is scaling new heights. And in another little snippet of déjà vu Bitcoin has surged past $10000 as cryptocurrencies pick up the pace once more. [Read More...]
SOURCE: Oil & Gas – Read entire story here.
Gold is on track for its best weekly performance in about two years as the market is having jitters about rising inflation. Despite a strengthening US dollar, the yellow metal is trading higher during the final trading session of the week. April gold futures rose $0.89, or 0.07%, to $1,356.20 per ounce at 14:36 GMT on Friday. Gold prices are heading for a weekly gain of roughly 3%, which is the best weekly performance since April 2016. Silver, the sister commodity to gold, is bleeding red ink to finish the trading week. March silver futures tumbled $0.046, or 0.27%, to $16.75 an ounce. The white metal will also record a weekly gain of 1.3%. This week, a plethora of inflation data was released, stoking fears that the Federal Reserve … [Read More...]
Oil prices rise and yen resumes its upward trajectory on Kuroda renomination [Read More...]
The US dollar lost ground against all the majors except the Australian and Canadian dollars which finished unchanged for the day. [Read More...]
SOURCE: Oil & Gas – Read entire story here.
Natural gas futures initially traded higher following a new US government report, but they have since pared those gains. Natural gas prices declined to their lowest points since August 2016 earlier this week, but they are still hovering around the important $2.60 threshold. March natural gas futures tumbled $0.024, or 0.93%, to $2.563 per million British thermal units (btu) on Thursday on the New York Mercantile Exchange. Natural gas prices have plunged nearly $1 over the last month, trading at 18-month lows. Natural gas has also plummeted more than 11% year-to-date. According to the US Energy Information Administration (EIA), natural gas experienced a larger-than-expected decrease in underground stockpiles as inventories fell by 194 billion cubic feet for the week ending February 9. Total natural gas supplies … [Read More...]