Market Wrap For Daily Commodity

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MARKET WRAP FOR COMMODITY

• Gold slips as upbeat US data lifts dollar
• Oil prices rose for a fifth straight day on Friday
• Copper up in thin trade on US growth hopes
• Copper heads for first annual loss in two years
• Copper prices have risen around 4 percent so far this week
• Dollar gains on euro
• SPDR holdings drop 1 percent to lowest since early Nov

Oil prices rose for a fifth straight day on Friday, on concerns about potential supply disruptions in Iran and Iraq and recent signs of a strengthening U.S. economy. Gold prices slipped on Friday, tracking the euro's declines as upbeat U.S. economic data boosted the dollar, though volumes were exceptionally light even for a market in holiday mode. Copper rose in thin trade on Friday after a recent run of encouraging data from the United States provided an optimistic outlook for growth and for metals demand in the world's largest economy.

 

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28-12-2011


MARKET WRAP FOR COMMODITY

• Gold fell in light holiday trade on Tuesday
• Spot silver fell 1.2 percent to $28.69 an ounce.
• Oil jumps on Iran threat
• Copper ended lower in U.S. and Asian trading on Tuesday
• U.S. market ended flat on Tuesday

Oil rallied on Tuesday on Iran's threat to close a Middle East crude shipping route in response to possible Western embargoes on Iranian oil. Copper ended lower in U.S. and Asian trading on Tuesday in thin year-end dealings as the London markets remained closed for Christmas. Gold fell in light holiday trade on Tuesday as technical weakness, options-related selling and a lack of fresh economic news failed to stimulate buying interest in the final week of the year. Gold is on track for a 9 percent fall for December. Prices earlier in the month plunged below key technical support they had held for nearly three years, fueling fears that bullion was close to ending a more than decade-long Bull Run.

 

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MARKET WRAP FOR COMMODITY
• Gold fell 2 percent to a three-month low on Wednesday
• Dollar rallies vs euro
• Silver tumbled more than 5 percent
• Copper down on euro zone, China slowdown worry
• Oil falls on dollar's rise, Wall St pullback
Oil prices fell on Wednesday, snapping a string of six straight sessions of gains as part of a broad sell-off across commodities and equities. Gold fell 2 percent to a three-month low on Wednesday, as the dollar rallied against the euro on more jitters about European debt, while losses in U.S. equity and commodity markets triggered a technical sell-off of the precious metal. Copper slipped on Wednesday in thin trade as worries about the euro zone debt crisis resurfaced ahead of a debt auction in Italy and as concerns over an economic slowdown in top metals consumer China clouded demand growth prospects.

 

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Market Wrap For Commodity : 30-12-2011

MARKET WRAP FOR COMMODITY

• Gold futures for February delivery declined 1.5 percent
• Dollar climbed as much as 0.6 percent against the euro
• Copper climbed for the first time in three days
• Aluminum also declined in London.
• Lead, nickel and zinc advanced
• U.S. crude oil edged up towards $100 a barrel

U.S. crude oil edged up towards $100 a barrel on Friday and is set to close the year up 9 percent, supported by Iran's threats to halt oil flow through a vital oil trade route if the West imposes sanctions on its crude exports. Copper fell on Thursday for a second straight day on a firm dollar, investor caution over the euro zone sovereign debt crisis and worries about growth in big metals consumer China. Gold, on the brink of a bear market, posted the longest slump since March 2009 as gains in the dollar reduced demand for precious metals as alternative assets. The dollar climbed as much as 0.6 percent against the euro as an auction of Italian bonds fell short of the government’s target. Gold, down 12 percent in December, is heading for the biggest monthly drop since October 2008, compared to the greenback’s almost 3 percent gain against a six-currency basket

 

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Market Wrap For Commodity : 02-01-2012

02-01-2012



MARKET WRAP FOR COMMODITY
• Gold up 10 pct on year, but suffers Q4 loss
• Silver rose 0.4 percent to $27.85, down 9.5 percent in 2011
• Oil prices ended 2011 up 13 percent
• Brent rises 13.3 percent in 2011
• Copper rose in the last session of 2011
• Euro zone debt crisis, China slowdown key factors in 2011

Gold rose 1 percent on Friday, rebounding from losses earlier this week that sent the market briefly into bear territory, and the metal sealed its 11th consecutive year of gains. Oil prices ended 2011 up 13 percent as a fresh wave of supply concerns capped a year of unrest and disruptions in North Africa and the Middle East that overwhelmed concerns about the economic health of large consuming nations. Copper rose in the last session of 2011 but sharp losses from earlier in the year caused the base metal its first annual decline in three years.

 

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Market Wrap For Commodity : 05-01-2012

MARKET WRAP FOR COMMODITY
• Gold traded steady on Thursday, off a 2-1/2-week high
• The euro wallowed at multi-year lows against the yen
• U.S. stock indexes were little changed
• Copper crumbled more than 3 percent on Wednesday
• Crude above $103 on plans to ban Iranian crude
• OPEC oil output rose in December

U.S. crude futures slipped in post-settlement trade on Thursday, but remained above $103 per barrel, supported by news that the European Union has reached a preliminary agreement to ban crude oil imports from Iran. Gold traded steady on Thursday, off a 2-1/2-week high hit in the previous session, as escalating concerns on Iran pushed up oil prices and investors awaited a French bond auction later in the day to gauge the scope of the euro zone debt crisis

 

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Market Wrap For Commodity : 09-01-2012

MARKET WRAP FOR COMMODITY

• Gold eases as market digests US payrolls data
• Euro down vs dollar on persistent debt
• Spot silver fell 1.9 percent to $28.72 an ounce
• Nonfarm payrolls up 200,000 in December
• Copper pushes up with help from strong U.S. data
• Crude above $101 on plans to ban Iranian crude
• Unemployment rate dropped to a near three-year low of 8.5 percent.

Gold eased on Friday, snapping a five-session winning streak, but trade was choppy as investors digested a report of better U.S. job growth and the unemployment rate near a three-year low. Copper edged higher on Friday in a muted response to better-than-forecast U.S. employment data that offered further evidence that a recovery in the world's largest economy was on track. U.S. nonfarm payrolls rose 200,000 in December and the unemployment rate dropped to a near three-year low of 8.5 percent.

 

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Market Wrap For Commodity : 11-01-2012

11-01-2012


MARKET WRAP FOR COMMODITY

• Silver rallied over 3 percent
• Gold up over 1 pct on economic optimism
• Japan's biggest copper smelter halts ops after fire
• China trade growth slows to 2-year lows in December
• China's annual exports grew 13.4 percent in December
• Crude slips below 102$

Gold surged more than 1 percent to a three-week high on Tuesday, rallying with the stock market on optimism toward the global economy after a bullish forecast by aluminum maker Alcoa. Copper surged more than 3 percent on Tuesday, driven by stronger-than-expected Chinese imports that brightened the demand outlook for industrial metals. China's imports of crude oil and key industrial commodities proved resilient in December, with copper shipments bucking expectations and rising about 13 percent on the month to a record high.

 

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Market Wrap For Commodity : 18-01-2012

MARKET WRAP FOR COMMODITY

• Gold hovered above $1,650 an ounce on Wednesday
• Holdings of the SPDR Gold Trust edged up 0.12 percent
• U.S. stocks advanced on Tuesday
• U.S. crude oil rose above $101 a barrel on Wednesday
• Copper was steady on Wednesday
• Copper inventories in LME warehouses have dropped to a 13-month low

U.S. crude oil rose above $101 a barrel on Wednesday, adding to sharp gains the previous session, supported by a weaker dollar and better-than-expected data from China, Germany and the United States. Copper was steady on Wednesday, after surging to its highest in more than two months in the previous session, as euro zone funding worries eroded investor confidence following upbeat economic data in China, Germany and the United States.

 

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Market Wrap For Commodity : 20-01-2012

MARKET WRAP FOR COMMODITY

• Gold dips on weak U.S. data
• U.S. jobless claims dropped to 4 year low
• Copper stocks down to fresh 13-month low
• Copper hit recent new high again
• U.S. oil futures held steady in early Asian trade on Friday
• World stocks and the euro rose on Thursday

Gold slipped on Friday as weak U.S. data prompted investors to book profits, but a steady euro and rising equities could limit the decline as the metal headed for a third week of gains -- the longest winning streak since November. U.S. oil futures held steady in early Asian trade on Friday as a rise in U.S. gasoline inventories for the third straight week overshadowed optimism spurred by a fall to an almost four-year low in the number of Americans filing for new jobless benefits. Natural gas fell to a decade low on Thursday on demand concerns and gold snapped a three-day rally, but most other commodities climbed as a brighter economic outlook and a weaker dollar buoyed hopes for better demand for raw materials

 

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Market Wrap For Commodity : 30-01-2012

MARKET WRAP FOR COMMODITY

• Gold up 5 pct on week after Fed rate pledge
• Oil subdued by weaker GDP
• Copper slips from new high, US GDP disappoints
• Copper stocks fall to lowest since Sept 2009
• Euro briefly pared gains late in choppy business Friday
• US natural gas ends down

Gold prices rose nearly 1 percent on Friday, posting their biggest three-day rally since late October, after a report showing disappointing U.S. economic growth boosted the metal's safe-haven appeal. Copper slipped in moderate volume on Friday after underwhelming U.S. economic growth figures doused a rally in higher-risk assets that had lifted prices of the red metal nearly 15 percent this month. Oil prices ended little changed after renewed threats from Iran of a European export halt and a refinery outage in the northeast United States failed to dispel the pall cast by U.S. data, which showed the economy expanded at annualized 2.8 percent pace in the fourth quarter.