Market Wrap For Daily Commodity

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21-02-2011


MARKET WRAP

• Silver hits 31-yr high as investment recovers
  
• Gold hit its highest in five weeks on Friday
  
• Copper ended firm on Friday
  
• U.S. market holiday on Monday
  
• Oil prices slipped on Friday

Spot silver rose to a 31-year high on Friday after investors took advantage of January's 9 percent price fall to buy into the market, with precious metals demand fuelled by ongoing unrest in the middle East region. Copper ended firm on Friday after another round of monetary tightening in China failed to surprise bullish traders who held their bets on healthier demand prospects for industrial metals this year

 

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22-02-2011


MARKET WRAP

• Gold above $1,400 as Mideast violence spreads
  
• Silver hit a high of $33.96
  
• Copper down on broad risk aversion
  
• Aluminium hits 29-month high
  
• Nickel touches 34-month high

Gold prices rose above $1,405 an ounce on Monday for the first time in nearly seven weeks as violence flared in North Africa and the Middle East, boosting interest in the precious metal as a haven from risk. Other precious metals also rallied, with silver touching its highest in 31 years. Copper slipped on Monday, as tensions in Arab states deterred investors from riskier assets and on concern China's recent monetary tightening may dent demand from the world's top consumer of metals.

 

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23-02-2011


MARKET WRAP

• Copper down as Libya tensions
  
• Euro cuts losses against dollar
  
• U.S. consumer confidence at 3-yr high
  
• Gold steadied above $1,400 an ounce on Tuesday
  
• US crude at 2-1/2 year high

Base metals fell on Tuesday, with copper at a three-week low as worries about unrest in North Africa and the Middle East knocked risk appetite and a higher dollar deterred non U.S. investors. The euro extended gains against the dollar as hawkish comments from European Central Bank officials increased euro zone rate hike expectations. Gold steadied above $1,400 an ounce on Tuesday as violence in North Africa fuelled interest in the metal as a haven from risk, though its rise was limited as some investors cashed in some of the previous session's gains. U.S. crude oil reached a 2-1/2 year high on Tuesday on concerns the revolt in Libya could spread to other major oil producers.

 

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24-02-2011

Market Wrap For Commodity

• Gold rises above $1,410/oz
  
• Copper dips as unrest spurs inflation worries
  
• Base metals down second consecutive day
  
• Crude oil climbs above $99 on Libya unrest
  
• 25 percent of Libyan oil output shut

Gold topped $1,400 an ounce in Europe on Wednesday as tensions in Libya increased interest in the metal as a haven from risk and the dollar fell, but gains were limited by concerns its run higher may have been overdone. Copper prices fell to their lowest levels in nearly a month on Wednesday as worries over unrest in North Africa boosted oil prices

 

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25-02-2011


MARKET WRAP

• Gold steadies, off highest in nearly 2-months
• Copper firms on U.S. data
• U.S. jobless claims fall, durable goods mixed
• Copper inventories in LME warehouses continue to rise
• Oil touch new high above 103$

Copper firmed on Thursday after better than expected jobless data from the United States, but concerns that higher oil prices driven by violence in Libya could slow economic growth kept prices under pressure. Gold was flat on Thursday after sources said Saudi Arabia was able to boost crude output, easing from its highest in nearly two months on concerns about inflation after oil rose on unrest in oil-producer Libya.

 

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28-02-2011



MARKET WRAP

• Gold posts 4th straight weekly gain
  
• Saudi Arabia this week raised oil output
  
• Copper posted its biggest daily advance in three months
  
• LME copper stocks continue to climb

Top exporter Saudi Arabia has raised oil output above 9 million barrels per day (bpd) to make up for a near halt in Libyan exports. Gold rose towards $1,410 an ounce on Friday, posting its fourth consecutive weekly gain as the crisis in Libya and soaring oil prices stoked inflation worries. Copper posted its biggest daily advance in three months on Friday, as buyers for the industrial metal emerged after energy prices retreated from this week's sharp rally.

 

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01-03-2011

Market Wrap For Commodity

• Silver prices set for 19 pct rise in February
  
• Gold edges above $1,410/oz
  
• Dollar hits lowest in 3-1/2 months
  
• Copper rises on weaker dollar
  
• Crude oil trading near 98$

Gold rose above $1,410 an ounce on Monday as turmoil across the Middle East boosted safe-haven buying, though the metal struggled to sustain gains as investors were spooked by its proximity to record highs. Copper rose on Monday to its highest in nearly a week as upbeat U.S. data and a weaker dollar supported sentiment and as oil eased from last week's price spike. Dollar hit a 3-1/2-month low against a currency basket on speculation the Federal Reserve would lag other central banks in raising interest rates to counter inflation risks stoked by rallying oil prices. LME stocks of copper Rose to a seven-month high, up 4,175 tonnes.

 

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03-03-2011

Market Wrap For Daily Commodity

• Gold hits record above $1,440/oz
  
• Silver hits fresh 31-year high
  
• Copper edges up on dollar
  
• Copper stocks at highest since mid-July
  
• Crude oil trading near 102$

Gold hit a record high above $1,436 an ounce on Wednesday as violence in the Middle East and North Africa supported interest in the precious metal as a haven from risk, and as U.S. oil prices jumped above $100 a barrel. Copper edged up on Wednesday, clawing back earlier losses as the dollar weakened and after upbeat jobs data.

 

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04-03-2011

MARKET WRAP

• Gold falls as euro soars on central bank remarks
• ECB comments stoke speculation for euro zone rate rise
• London copper was steady on Thursday
• Crude oil prices slips from near 2-1/2 year peaks
• Spot gold has risen by 10 percent in the six weeks
• Natural Gas trading near lows

Gold fell 1 percent on Thursday as European Central Bank chief Jean-Claude Trichet said the bank will exercise "strong vigilance" over inflation, raising the prospect that it may lift interest rates as soon as next month. London copper was steady on Thursday, as oil prices near 2-1/2 year peaks fanned fears of slower global economic growth and technical analysis suggested a period of consolidation.

 

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07-03-2011


MARKET WRAP

• U.S. crude prices jump to highest since September 2008 near 105$
• Aluminum stocks climbed 7,250 tonne
• Copper ends down as geopolitical tensions persist
• copper in LME warehouses last rose 1,250 tonnes
• Gold rose above $1,430 an ounce on Friday
• silver surged 3 percent to 31-year highs
• Natural Gas trading near lows

Gold rose above $1,430 an ounce on Friday, while silver surged 3 percent to 31-year highs, as soaring oil prices fueled by widening clashes in Libya prompted investors to pile into safe havens. U.S. oil hit its highest since September 2008 on Friday, as fighting in Libya intensified and threatened the country's oil sector. Copper backed away from a near three-week high to end down on Friday as rising oil prices and escalating violence in North Africa eclipsed initial euphoria from upbeat employment data in the United States.

 

[ashwani chadha]

07-03-2011


MARKET WRAP

• U.S. crude prices jump to highest since September 2008 near 105$
• Aluminum stocks climbed 7,250 tonne
• Copper ends down as geopolitical tensions persist
• copper in LME warehouses last rose 1,250 tonnes
• Gold rose above $1,430 an ounce on Friday
• silver surged 3 percent to 31-year highs
• Natural Gas trading near lows

Gold rose above $1,430 an ounce on Friday, while silver surged 3 percent to 31-year highs, as soaring oil prices fueled by widening clashes in Libya prompted investors to pile into safe havens. U.S. oil hit its highest since September 2008 on Friday, as fighting in Libya intensified and threatened the country's oil sector. Copper backed away from a near three-week high to end down on Friday as rising oil prices and escalating violence in North Africa eclipsed initial euphoria from upbeat employment data in the United States.

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08-03-2011


MARKET WRAP

• Gold retreated from record highs on Monday
• Silver gained 1.5 percent, having earlier touching a 31-year high
• Greece downgrade puts euro zone debt back in focus
• Zinc stocks highest since Nov 2004
• Copper falls as Libya violence escalates
• Nickel falls sharply almost 6%

Gold retreated from record highs on Monday as investors took profits after U.S. crude oil prices sharply pulled back on speculation that Libyan leader Muammar Gaddafi was seeking a deal to secure a safe exit from the country. Copper fell on Monday as escalating violence in Libya eroded investors' appetite for assets perceived as risky and oil remained strong, but a weaker U.S. dollar prevented deeper losses. Copper stocks continued to build, rising 1,850 tonnes to 427,150 tonnes.

 

[ashwani chadha]

08-03-2011


MARKET WRAP

• Gold retreated from record highs on Monday
• Silver gained 1.5 percent, having earlier touching a 31-year high
• Greece downgrade puts euro zone debt back in focus
• Zinc stocks highest since Nov 2004
• Copper falls as Libya violence escalates
• Nickel falls sharply almost 6%

Gold retreated from record highs on Monday as investors took profits after U.S. crude oil prices sharply pulled back on speculation that Libyan leader Muammar Gaddafi was seeking a deal to secure a safe exit from the country. Copper fell on Monday as escalating violence in Libya eroded investors' appetite for assets perceived as risky and oil remained strong, but a weaker U.S. dollar prevented deeper losses. Copper stocks continued to build, rising 1,850 tonnes to 427,150 tonnes.

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09-03-2011


MARKET WRAP

• Gold eases below $1,430/oz
• Oil prices retreat as OPEC mulls production increase
• Oil prices fell sharply on Tuesday
• Copper steadied on Tuesday
• LME copper stocks fall, zinc inventories rise

Gold eased below $1,430 an ounce on Tuesday, falling further away from the previous day's record high after crude oil prices slid, thereby alleviating some of the concern about a potential oil shock to the global economy. Gold has risen 8.5 percent in the last six weeks, as clashes in Libya and turbulence across the Arab world have encouraged investors to seek a safe-haven in which to put their capital. Copper steadied on Tuesday as industrial users pushed back into the market attracted by the lowest levels in two weeks

 

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10-03-2011


MARKET WRAP FOR COMMODITY

• Gold underpinned by raging violence in Libya
• Copper loses ground on stronger oil price
• LME stocks of copper fall
• Zinc falls almost 5% on Wednesday
• Base metals tumbles on Wednesday

Gold was little changed on Wednesday as investors booked profits, erasing earlier gains driven by intensifying political unrest across North Africa and the Middle East and renewed worries over euro zone debt. Copper fell on Wednesday as strengthening crude oil prices kept investors worried that inflationary pressures could hit economic growth and demand. U.S. crude inventories rose much more than expected last week as imports rose.

 

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11-03-2011

MARKET WRAP FOR COMMODITY

• Gold falls 1.5 pct as oil, equity markets tumble
• Copper falls on demand concerns
• U.S. jobless claims rise 26,000 last week
• U.S. dollar index up versus Euro
• Base metals tumbles on Thursday
• Oil falls and made new low of 100.5$

Gold lost 1.5 percent on Thursday, set to post its biggest one-day loss in about six weeks, as investors sold bullion to cover hefty losses in equity and other commodity markets. Copper fell on Thursday after weak Chinese import data cast doubt on demand from the world's top consumer of the metal and data showed jobless claims in the United States rose more than expected.

 

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14-03-2011


MARKET WRAP FOR COMMODITY

• Gold remained near the day's highs on Friday
• Copper steadied by the close on Friday
• Japan shuts copper smelters
• Oil prices fell on Friday after a massive earthquake

Gold remained near the day's highs on Friday after the dollar weakened against the euro and as investors sought the precious metal's safety after Japan's earthquake and with Middle East violence rising heading into the weekend. The massive quake pushed U.S. crude prices below $100 a barrel after a 10-meter tsunami shut down dozens of plants in the world's third-largest oil consumer. Copper steadied by the close on Friday, recovering from an earlier three-month low, as investors reassessed the likely fallout from Japan's massive earthquake.

 

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15-03-2011


MARKET WRAP FOR COMMODITY


• Gold prices rose in Europe on Monday
• Crude oil prices slipped on Monday
• Copper slipped on Monday
• Silver consolidate near high


Gold prices rose in Europe on Monday, recovering some of last week's one percent losses, as the impact of an earthquake in Japan added to upward pressure on the metal, driving it back towards recent record highs. Crude oil prices slipped on Monday in volatile trading, pressured by expectations of slower Japanese demand after a devastating earthquake, while ongoing unrest in the Middle East helped limit oil losses. Copper slipped on Monday as the unfolding disaster in Japan and tensions in the Middle East undermined investor sentiment and prompted a flurry of selling

 

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16-03-2011



MARKET WRAP FOR COMMODITY

• Commodities tumble across the board
• Gold slides as Japan crisis slams markets
• Oil falls on Japan worry
• Copper sinks to 3-month low
• Silver recovers after sharp fall

Gold prices fell more than 2 percent on Tuesday, but were well off their lows, as rising fears over Japan's nuclear crisis hit global financial markets, prompting a flight to liquid assets like cash. Oil prices fell on Tuesday as Japan's nuclear crisis following last week's earthquake sparked risk version, while unrest in Bahrain and Libya helped pull prices off lows. Copper fell to a three-month low on Tuesday, after a mounting emergency at a quake-stricken nuclear plant in Japan sparked a slide across financial markets.

 

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17-03-2011

MARKET WRAP FOR COMMODITY


• Gold rises as markets stabilize
• Dollar fell to a four-month low against the yen
• U.S. crude oil stockpiles rose more than forecast
• Oil rise helped by renewed Middle East unrest
• Copper rebounds but Japan tensions remain


Oil and metals rebounded on Wednesday as investor’s reaquired some comfort with risk, plowing back into commodity markets a day after a sharp selloff sparked by concerns over Japan's nuclear crisis. Gold rose on Wednesday as investors took advantage of the previous day's 2 percent price drop to buy the metal and as the extreme risk aversion that prompted a flight to liquidity on Tuesday eased.