Market Wrap For Daily Commodity

MARKET WRAP FOR DAILY COMMODITY :- 21-01-2011


  • Gold, silver hit lowest since late November
  • LME lead stocks continued to rise
  • Copper fell about 1 percent on Thursday
  • Oil prices fell by more than $2
  • Gold prices extended early losses to fall below $1,350
  • Euro slips v/s dollar



Oil prices fell by more than $2 to below $89 per barrel for the first time in 10 days as concerns about high U.S. inventories and Chinese inflation outweighed positive U.S. jobless data. Gold prices extended early losses to fall below $1,350 an ounce on Thursday, hitting their lowest in two months, as the euro surrendered gains to turn negative versus the dollar. Copper fell about 1 percent on Thursday, down from the previous session's record high, as Chinese data raised concerns the country would take further steps to tighten monetary policy and soften demand for metals.
 
MARKET WRAP FOR DAILY COMMODITY :- 24-01


  • Gold prices fell for a second day on Friday
  • Silver prices had earlier hit a seven-week low at $27.10 an ounce
  • Copper bounced nearly one percent on Friday
  • The weak dollar on Friday
  • Nickel closes higher on Friday


Gold prices fell for a second day on Friday as a stronger appetite for riskier assets such as equities and an improving economic outlook diminished safe-haven buying, more than offsetting a weaker dollar. Copper bounced nearly one percent on Friday, snapping a two-day slide that dragged prices to their lowest level in a month, as the dollar weakened and on worries about more monetary tightening in top-consumer China abated. Bullion notched a third consecutive weekly loss, its longest since July.
 
MARKET WRAP For Commodity :- 25-01-2011


  • Gold edges up as price drop attracts buyers
  • Euro off from two-month high
  • Copper prices rose on Monday
  • Nickel slips from recent high
  • Aluminium ,lead closes weak on Monday
  • Natural Gas falls sharply on Monday, down almost 3%


Gold rose on Monday as lower prices after the metal's third consecutive weekly loss attracted some buyers back to the market, but a more optimistic view of global growth still limited fresh investment. Copper prices rose on Monday, as concerns about Chinese demand abated. A weaker U.S. dollar also helped metals, by making dollar priced commodities cheaper for other currency holders.
 
MARKET WRAP FOR DAILY COMMODITY :- 27-01-2011

  • Gold eased on Wednesday ahead of a U.S. Federal Reserve policy
  • Copper rallies, China doubts curb gains
  • dollar weakened against the euro
  • Oil prices rebound ahead of Fed statement


Gold eased on Wednesday ahead of a U.S. Federal Reserve policy decision later in the day, while a record outflow from the largest exchange-traded bullion fund kept prices near Tuesday's three-month low. Copper rallied on Wednesday as the dollar weakened against the euro but the approach of a holiday in top consumer China and expectations of tighter monetary policy in the country checked investor enthusiasm. Oil prices bounced higher on Wednesday after two days of losses as the dollar fell to 10-week lows ahead of a U.S. Federal Reserve statement.
 
MARKET WRAP FOR COMMODITY :- 28-01-2011


  • Gold slides to 3-month low as investment stalls
  • Euro at 2-month high on ECB official's inflation comments
  • Copper rose on Thursda
  • Copper stocks rise again
  • Crude oil trading around 87$


Gold fell more than 2 percent on Thursday as investor appetite for the metal waned and on growing expectations for rising interest rates that would ultimately make bullion a less attractive investment. Copper rose on Thursday and tin hit a record high on tightening supplies, but copper's gains looked fragile near-term as a holiday approached in top metals consumer China.
 
31-01-2011

MARKET WRAP FOR COMMODITY


  • Gold posted its biggest gains in eight weeks on Friday
  • Spot silver rose 3.5 percent to $27.98 an ounce.
  • Dollar index rose 0.5 percent
  • Copper ends up near record
  • Crude oil trading around 89$
  • Nickel slips sharply after hitting record high


Gold posted its biggest gains in eight weeks on Friday, gaining nearly 2 percent as the prospect of unrest in Egypt spreading across the Middle East fueled a rush of safehaven buying in the financial markets. The nearly $40-an-ounce jump in active trading revived investor interest in bullion, which is still set for its first monthly decline in half a year . Copper prices closed 1.5 percent away from its record high on Friday, after data showing the U.S. economic expansion picked up in the fourth quarter reaffirmed robust global demand prospects for the industrial metal. Lead prices are expected to outshine zinc <CMZN0> this year as the galvanizing metal continues to struggle with vast stocks and another year of surplus.
 
MARKET WRAP FOR COMMODITY :- 01-02-2011


  • Gold extended losses on Monday
  • Copper eyes record high
  • euro rose against the dollar
  • Crude oil trading above 91$


Gold extended losses on Monday to hit session lows after U.S. data showed consumption beat expectations in December, while the Federal Reserve's preferred gauge of inflation rose at its most moderate pace on record. Copper came within touching distance of record highs on Monday as expectations of healthy demand from top consumers China and the United States boosted sentiment.
 
02-02-2011

MARKET WRAP FOR DAILY COMMODITY



  • Gold surrenders early gains
  • Copper hit a record high on Tuesday
  • U.S. dollar pared some losses versus the euro
  • Silver ETFs see historic outflows in January
  • Nickel and aluminum hits multi week high


Copper hit a record high on Tuesday nearing $10,000 a tonne buoyed by positive U.S. economic data as well as supply concerns, while a weaker dollar underpinned its advance. The U.S. dollar pared some losses versus the euro and yen on Tuesday after the ISM and construction readings but still remained down on the day. Gold prices steadied on Tuesday after well-received U.S. manufacturing data lifted the dollar and boosted appetite for higher-risk assets at gold's expense, balancing support lent by political upheaval in Egypt.
 
Market Wrap For Commodity :- 03-02-2011


  • Gold prices eased on Wednesday after well-received U.S. economic data
  • Copper rushed towards a record high on Wednesday
  • euro retreated from a 2-1/2-month high against the dollar
  • US ADP jobs data higher than expectations


Gold prices eased on Wednesday after well-received U.S. economic data and a spate of upbeat corporate earnings deflected interest away from bullion on to higher-risk, higher-yielding assets. Copper rushed towards a record high on Wednesday, nearing $10,000 a tonne before losing momentum, but solid manufacturing data that pointed to higher demand for the industrial metal suggested gains further ahead. The euro retreated from a 2-1/2-month high against the dollar on Wednesday as signs of dissent over a euro zone rescue plan and unrest in Egypt caused some investors to take profits on its recent rise
 
04-02-2011

MARKET WRAP FOR COMMODITY

  • Copper at record $10,000 on supply concerns
  • U.S. weekly jobless claims drop more than expected
  • Gold falls for second day as dollar strengthens
  • U.S. dollar extended gains against the euro
  • Crude oil trading above 90$
  • Zinc hits multi week high
  • Natural gas galls sharply after inventory data

Copper struck a record high at $10,000 on Thursday while tin also hit all-time peaks, on supply deficit concerns and as recent economic data from top consumers China and the United States increased demand prospects. Gold recovered sharply on second day after U.S. data showed a healthy pace of growth in the U.S. services sector, having earlier risen on the back of more muted expectations for euro zone rate rises.
 
MARKET WRAP FOR COMMODITY :- 07-02-2011


  • Gold retreats on Egypt report
  • U.S. jobs rose less than expected
  • U.S. unemployment rate down
  • Crude oil trading near 88$
  • Copper soars to new record on U.S. data boost
  • Nickel trading near recent high


Gold dropped on Friday as the dollar rose and safe-haven buying ebbed after an apparently unfounded television report sparked intense speculation that Egypt's President Hosni Mubarak could be stepping down soon, which would end unrest. For the week, gold notched its first weekly gain in 2011 after U.S. employment rose far less than expected in January, and after Federal Reserve Chairman Ben Bernanke indicated monetary policy would stay accommodative in the near term. Copper pushed well above $10,000 a tonne to a record high on Friday, driven by encouraging employment data in the United States that backed views of a healthier 2011 demand outlook.
 
08-02-2011


MARKET WRAP FOR COMMODITY


  • Gold edged above $1,345 an ounce on Monday
  • Copper hits record high on Chile concerns
  • Crude oil trading near 88$
  • Lead down almost 1%
  • Nickel falls after hitting new high


Gold edged above $1,350 an ounce on Monday after the metal's first weekly rise this year lifted investor confidence in the metal, though a more optimistic view of the global economic outlook is continuing to weigh on prices. Copper hit a record on Monday as concerns about supply, especially from top producer Chile, added to a recent stream of positive economic data that boosted the outlook for industrial metals demand.
 
09-02-2011


MARKET WRAP FOR COMMODITY


  • Gold hits highest in nearly three weeks on short covering
  • Oil and copper prices recovered losses made after China's interest rate increase
  • Dollar index slipped 0.4 percent
  • Lead, Aluminium up almost 0.5% after sharp fall
  • Nickel coveres all losses on Tuesday
  • Natural Gas continues it’s down trend down almost 2%
  • Silver hits multi week high


Gold rose more than 1 percent on Tuesday to $1,367.60 an ounce as traders covering short positions in the New York futures market pushed spot prices through key resistance at the metal's 100-day moving average. Oil and copper prices recovered losses made after China's interest rate increase. The dollar index slipped 0.4 percent, meanwhile, adding further upward pressure to gold.
 
10-02-2011

Market Wrap For Commodity


  • Oil trims gains on U.S. inventory increase
  • crude stocks rose 1.9 million barrels
  • Gold holds near 3-week highs
  • Copper slips, upside capped by China rate
  • Euro rose to a session high against the dollar

U.S. crude dented earlier gains on Wednesday as official oil data showed increases in oil inventories in the United States. Gold nudged three-week highs on Wednesday, supported by an increased focus on inflation after China's second interest rate hike insix weeks and residual interest in the metal as a haven. Copper slipped on Wednesday, as worries of rising interst rates in China could dampen industrial demand washed through the market, although a softer dollar lent support.
 
11-02-2011


Market Wrap Daily Commodity
  • Gold recovers from day’s lows
  • Weekly U.S. jobless claims drop more than expected
  • Dollar rises against the euro
  • Copper edged up on Thursday, bouncing from earlier losses
  • LME copper inventories rise
  • Oil trading near 87.5 $

Copper edged up on Thursday, bouncing from earlier losses as the dollar pared gains versus the euro, but with prices losing a grip of this week's record high. Gold extended losses on Thursday after weekly U.S. employment data painted a much brighter picture of the jobs market, pushing down other safe-havens such as treasuries and boosting the dollar and equities.
 
14-02-2011


  • Gold retreats after Mubarak resigns
  • Largest silver ETF posts first inflow since Jan. 24
  • Copper ends up after Egypt's Mubarak steps down
  • Stocks of aluminium fell 2,325 tonnes
  • Copper in LME warehouses fell 225 tonnes
  • U.S. oil falls to 10-wk low

Gold retreated below $1,360 an ounce on Friday after the resignation of Egyptian President Hosni Mubarak following weeks of protest took some heat out of risk aversion. Gold was weakened further after data showed stronger-than-expected U.S. consumer sentiment, which rose to an eight-month high in early February. Copper bounced from a near two-week low to end a shade higher on Friday, as broader market sentiment gradually improved after news of the resignation of Egyptian President Hosni Mubarak. U.S. oil prices fell to a 10-week low on Friday after Egyptian President HosniMubarak stepped down and handed over power to the army.
 
15-02-2011


Market Wrap For Commodity
  • Copper near records after China data
  • Aluminium in LME warehouses dipped 4,725 tonnes
  • Nickel hit its highest in nearly three years
  • Gold rises above $1,360/oz
  • Silver prices reach six-week high

Copper rose above $10,000 a tonne to near all-time peaks and tin hit a record on Monday, as supply tightness bolstered both metals, while a surprise jump in copper imports from top metals consumer China brightened sentiment. Gold rose above $1,360 an ounce on Monday as the dollar's retreat from highs versus the euro took some pressure off prices, with a second consecutive weekly price rise underpinning investors' confidence in the metal.
 
16-02-2011

MARKET WRAP


  • Gold Bug Win test in race for White House
  • London-Singapore Metal Futures Start First Session at 980 Lots
  • Euro Advances Versus Most Counterparts on German, US Reports
  • Copper Falls From Record as Demand May Slow on Higher Prices
  • Natural Gas Steady Near Three-Month Low on Weather Outlook
  • Crude Rises, Supplies Increase in crushing

Copper fell from records in New York and London on speculation that high prices will slow demand, resulting in increased stockpiles. Inventories in warehouses monitored by the London Metal Exchange are up 6.6 percent this year. Stockpiles in Shanghai were at the highest level since June, figures showed last week.
 
17-02-2011


MARKET WRAP
  • Gold up as Israel, Iran add to Mideast tension
  • Base metals and grains down broadly
  • Crude oil prices ended higher on Wednesday

Crude oil prices ended higher on Wednesday after spiking to $104 a barrel in London, and gold edged up as well, as tension between Israel and Iran accentuated the widening unrest in the oil-rich Middle East. Copper extended losses from Tuesday as investors continued to worry that prices may have gotten ahead of demand
 
18-02-2011

MARKET WRAP FOR COMMODITY


  • African Barrick Profit Triples on Higher Gold Price
  • Oil Climbs as Israel Says Iranian Warships Heading for Suez Canal
  • Greek, Irish Banks Force ECB to Print More Money: Euro Credit
  • Copper Drops as Prices, China-Tightening Concern Deter Buyer
  • Gates Warns of ‘Serious Disruptions’ in Budget Delays
  • Emerging-Market Stocks Rise on US Economic Data, Crude Oil

Emerging-market stocks rose toward the highest level in a week as U.S. housing starts increased more than economists forecast and oil producers gained amid spreading antigovernment protests in the iddle East. Copper fell for a second day as expanding inventories fueled concern that demand is weakening as some governments move to fight inflation
 
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