Market Wrap For Daily Commodity

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25-11-11


MARKET WRAP FOR COMMODITY

• Gold steadied on Thursday to around $1,700 an ounce
• Euro drops on Europe debt concerns
• Indian silver imports expected to decline in 2011
• Oil climbs on stock draws
• U.S. crude stockpiles down sharply
• Copper firms but EU debt woes darken outlook

Oil prices rose towards $108 on Thursday, helped by bigger-than-expected stock draws in the United States and tensions around Iran, while stronger German data offset some of the negative sentiment generated by Wednesday's poor bond auction. Gold steadied on Thursday to around $1,700 an ounce after its decline to one-month lows this week triggered some bargain hunting, with a slightly weaker dollar adding support to the precious metal. Copper firmed on Thursday, consolidating after heavy losses and helped by a brighter business mood in Germany, but prices are still on track for a fourth straight week of losses as Europe's debt crisis eats into demand for industrial metals.

 

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28-11-11



MARKET WRAP FOR COMMODITY

• Gold sets second week of decline
• Copper marks fourth week of losses
• Middle East turmoil supports crude oil prices
• U.S. stocks posted seven straight sessions of losses
• dollar rose to a seven-week high against the euro

Commodities were mostly lower on Friday with most sectors posting weekly declines as a jump in borrowing costs for Italy, tighter credit in the commodities sector and a stronger dollar eroded investor confidence. Spot gold pared losses, but still saw its second week of losses while U.S. crude oil settled in positive territory on worries about Middle East tension. U.S. stocks posted seven straight sessions of losses, ending the worst week in two months, as the lack of a credible solution to Europe's debt crisis kept investors away from risky assets. The dollar rose to a seven-week high against the euro, and was also strong against a basket of currencies, weighing down on most commodities including the oil market.

 

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30-11-11


MARKET WRAP FOR COMMODITY

• Gold sustain above $1,710
• London copper retreated on Tuesday
• LME copper has fallen 22 percent this year
• Oil touched $111 a barrel on Tuesday
• Euro gains vs. dollar, equity markets rise
• Silver slides below 32$

London copper retreated on Tuesday, after posting its biggest single-day gain in a month in the previous session, as investors weighed whether euro zone policymakers can actually come up with solid measures to resolve a widening sovereign debt crisis. Oil touched $111 a barrel on Tuesday after a supportive consumer confidence report from the United States and a successful Italian bond auction and as Iranian protesters stormed the British embassy in Tehran.

 

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1-12-11


MARKET WRAP FOR COMMODITY
• Dollar's biggest drop in a month vs euro sparks
• Copper moves sharply up almost 7%
• Lead and Zinc hit 6% circuit on Wednesday
• Gold moves up above 1745$
• Silver hits a high of 32.90$
• Nickel moves up above 4% but slide sharply

Oil and copper hit two-week highs on Wednesday after a move by central banks to ease global liquidity fears lifted the euro against the dollar, which boosted prices of commodities denominated in the U.S. currency. U.S. employers adding 206,000 jobs in November, private payrolls processor ADP National Employment Report said in a report on Wednesday.

 

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02-12-11


Commodity Market Outlook : 02-12-2011

• Gold rose to its highest in two weeks on Thursday
  
• The euro rose against the dollar
  
• Copper falls as euro zone debt crisis persists
  
• Inventories of lead in LME-monitored warehouses fell 575 tonnes
  
• Crude oil slips below 100$
  
• Nickel slide sharply falls almost 3%

Gold rose to its highest in two weeks on Thursday after a coordinated effort by the world's major central banks to unlock the credit markets and prevent a global financial meltdown gave investors confidence to cut their holdings of cash. Copper fell on Thursday as a rally sparked by the surprise injection of liquidity into the financial system by central banks ran out of steam, although the decline was limited by upbeat data in the United States, the world's largest economy. Brent crude pared losses on Thursday helped by better-than-expected U.S. manufacturing data.

 

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05-12-2011

MARKET WRAP FOR COMMODITY

• Precious metals ends down on profit booking
• US unemployment claims came down at 420K
• Unemployment rate fall to 2-1/2 year low of 8.6%
• Dollar rose against basket of currencies
• Crude oil rose above $100
• Nickel rebounds to end up 3.5%

Precious metals ended down on Friday as investors booked profit on higher levels though crucial U.S unemployment claims came down at 420K and unemployment rate much lower at 8.6%. Gold and Silver ended down on a negative note losing marginal points due to profit booking while Metals and Crude oil ended up due to positive data and easing off of Euro debt concerns with Nickel leading the rally while Copper posted its first weekly gain in five weeks. Crude oil ended up as Dollar rose against a basket of currencies while Dollar Index too rose to end the week at 78.750.

 

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07-12-2011




MARKET WRAP FOR COMMODITY

• Gold down after S&P warns downgrade for EU countries
• Silver edged up 0.1 percent to $32.04 an ounce
• Euro eases after S&P warns of ratings cuts
• Copper falls on S&P warning of euro zone downgrade
• Lead and zinc recovers from early lows
• Crude oil moves above 100$
• Nickel sustain previous day rally

Gold fell in quiet trade on Tuesday, on track for its biggest two-day loss in two weeks, as jittery investors remained focused on Standard & Poor's credit downgrade warning for euro zone nations. Copper fell on Tuesday after ratings agency Standard & Poor's warned of a mass downgrade of euro zone countries if European leaders fail to deliver a deal to solve the region's debt crisis this week. The dollar gave up most of its earlier gains but remained in positive territory against a basket of currencies. A stronger dollar makes commodities more expensive for holders of other currencies.

 

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08-12-2011


MARKET WRAP FOR COMMODITY

• Gold edged higher on Wednesday
• Euro drops as Germany expresses pessimism on Europe deal
• Spot silver slipped 0.5 percent to $32.59
• Brent crude fell on Wednesday
• Copper slips as Germany dampens EU summit hopes

Gold edged higher on Wednesday, driven by a pickup in the euro and by a rise in exchange-traded fund holdings to record highs, although caution ahead of a crucial European Union summit this week will likely limit gains in the bullion price. Copper turned negative on Wednesday as market sentiment weakened after pessimistic comments from a German official about the chances of a EU summit on Friday to solve a euro zone debt crisis that is crippling economic growth and metals demand.

 

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09-12-2011



MARKET WRAP FOR COMMODITY

Gold prices edged up on Friday
European Central Bank cut its benchmark interest rate by 25 basis points
The euro held steady on Friday, after staging its biggest one-day loss
Wall Street fell on Thursday

Gold prices edged up on Friday, rebounding from their biggest daily decline in nearly three weeks in the previous session, after the European Central Bank dashed expectations of more aggressive bond purchases on the eve of a key EU summit. London copper futures rose modestly on Friday but were heading for their fifth weekly loss in six weeks on persistent worries over a debt crisis in Europe as hopes faded that concrete measures could be reached at a summit later in the day.

 

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Shanghai copper

Copper inventories in warehouses monitored by the Shanghai Futures Exchange rose 26.1 percent from last Friday, indicating demand may have contracted over the past week.

 

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12-12-2011


MARKET WRAP FOR COMMODITY

• • Gold rises, posts weekly loss on uncertain Europe
• • Spot silver climbed 1.7 percent to $32.16 an ounce.
• • Wall Street jumped 1.5 percent after U.S. consumer sentiment
• • Oil prices rallied on Friday, after a choppy start
• • Copper closed with modest gains on Friday
• • Copper inventories in warehouses in Shanghai Futures Exchange rose 26.1 percent

Oil prices rallied on Friday, after a choppy start, as an agreement for a closer euro zone fiscal union and news of a Chinese fund for U.S. and European investment lifted the euro and equities markets. Gold rose on Friday following the previous day's tumble, swept higher in an equities rally as EU leaders agreed to push for a deeper economic integration and as U.S. consumer sentiment hit a six-month high. Copper rose on Friday after European leaders agreed to tighter euro zone budget rules at a summit aiming to combat a two-year debt crisis that has crimped industrial demand.

 

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MARKET WRAP FOR COMMODITY : 13-12-2011

• • Gold slides 3 pct to lowest since late Oct
• • The dollar rose by nearly 1 percent
• • Oil falls on euro zone worry, strong dollar
• • Aluminium stocks hit record 4.72 mln tonnes
• • China Nov copper imports highest since March 2010
• • Copper hit a near-two week low on Monday

Gold's losses accelerated on Monday, pushing the price down by as much as 3 percent on the day, its largest one-day fall in three months and nearing two-month lows, driven by a stronger U.S. dollar. Oil prices fell in choppy trading on Monday, pressured by concerns that Europe's agreement on closer fiscal union will not solve its debt crisis and might deepen a regional slowdown.

 

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14-12-2011


MARKET WRAP FOR COMMODITY

• London copper fell for a third straight day
• The euro wallowed at 11-month lows against the dollar
• U.S. retail sales grew less than forecast in November
• U.S. stocks fell for a second straight day on Tuesday
• U.S. gold fell 2 percent on Wednesday
• U.S. crude steadied near $100 a barrel on Wednesday

U.S. crude steadied near $100 a barrel on Wednesday ahead of an OPEC meeting at which ministers are expected to set a new production target, legitimising a big increase in supply over the last six months. U.S. gold fell 2 percent on Wednesday to its lowest in nearly two months, tracking losses in cash gold prices as the dollar rallied after the U.S. Federal Reserve meeting offered no new stimulus. London copper fell for a third straight day as investors scrambled into safer dollar holdings on the threat of credit downgrades in Europe, which is struggling to resolve its two-year debt crisis.

 

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15-12-2011

MARKET WRAP FOR COMMODITY

• Spot gold traded steady on Thursday after a dropping 3.5 percent
• The euro wallowed at 11-month lows against the dollar
• U.S. stocks fell for a third day
• Oil little changed after biggest drop since Sept
• Copper prices in Shanghai fell for a sixth day on Thursday

Spot gold traded steady on Thursday after a dropping 3.5 percent in the previous session, as funds sold off holdings before the year-end and fears grew about the euro zone debt crisis after Italian bond yields hit a new high. U.S. crude futures were little changed in early Asian trade on Thursday after plunging, along with most other commodities, the most in nearly three months in the previous session.

 

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16-12-2011



MARKET WRAP FOR COMMODITY

• Spot gold traded steady on Thursday after a dropping 3.5 percent
• The euro wallowed at 11-month lows against the dollar
• U.S. stocks raise marginally for a fourth day
• Oil slide more after biggest drop since Sept trading below 94$
• Copper prices in Shanghai fell for a sixth day on Thursday

Major commodities markets ended flat to lower on Thursday as fears of recession in Europe offset some positive U.S. economic data. A drop in U.S. unemployment claims to a 3-1/2-year low failed to boost the price of oil, a commodity that generally reflects global economic health.Copper closed broadly flat after seesaw trade on Thursday, as early technical buying after a plunge on Wednesday was stemmed by persistent fears of a euro zone recession that could hammer demand from top consumer China. U.S. crude oil prices fell $1.08, or 1.14 percent, to settle at $93.87 a barrel. The new front-month February Brent oil contract also finished lower, losing 65 cents to settle at $103.60 a barrel

 

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19-12-2011


MARKET WRAP FOR COMMODITY

• Copper falls on Europe's credit-rating downgrade worries
• Copper inventories in warehouses rose 9.4 percent from a week earlier
• Asian stocks fell on Monday
• Gold prices traded steady on Monday
• The euro got off to an unusually quiet start in Asia on Monday
• U.S. crude futures stood little changed on Monday

U.S. crude futures stood little changed on Monday after declining 5.9 percent the previous week amid ongoing worries about Europe's debt crisis. Gold prices traded steady on Monday after staging their biggest weekly loss in nearly three months, with investors focused on the euro zone after Fitch threatened to downgrade France. Copper fell on Monday as concern over possible credit rating downgrades in Europe deepened worries that the region may take longer to pull out of its two-year sovereign debt crisis, dragging down global economic growth. Copper inventories in warehouses monitored by the Shanghai Futures Exchange rose 9.4 percent from a week earlier.

 

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20-12-2011


MARKET WRAP FOR COMMODITY

• Gold eases back below $1,600/oz
• Silver falls more than 2 pct, tracking gold
• Copper slips again slide almost 1%
• Crude oil sustain near 93$
• Euro slips against dollar

Gold prices eased a touch on Monday as concerns that the euro zone debt crisis will hurt global growth kept the euro under pressure, although the precious metal lifted from early lows as the single currency pared some losses against the dollar. Copper slipped on Monday, weighed down by a stronger dollar and signs Beijing's easing measures are successfully cooling the red hot property market and steering the world's top consumer of metals away from a hard landing. The euro recovered to trade almost flat versus the dollar after earlier easing towards an 11-month low on concerns the euro zone sovereign debt crisis would hurt global growth.

 

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MARKET WRAP FOR COMMODITY : 21-12-2011

• Gold rises to 1-wk high on upbeat US, German data
• U.S. stocks rallied nearly 3 percent on Tuesday
• The euro held onto modest gains on Wednesday
• Crude oil move above 97$
• Copper and other base metals move up

U.S. crude futures rose on Wednesday in early Asian trade as stronger than expected U.S. economic data allayed fears of demand falling in the world's biggest oil consumer. London copper rose slightly for a second straight day on Wednesday as signs of growth in the United States and Germany raised expectations that demand for the industrial metal will increase. Gold edged higher to a one-week high on Wednesday, extending gains from the previous session, as upbeat economic data from the United States and Germany boosted market sentiment, and strong demand for Spanish debt buoyed the euro.

 

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22-12-2011


MARKET WRAP FOR COMMODITY

• • Gold steady as Europe debt worries persist
• • Copper fell on Thursday, snapping two days of gains
• • U.S. crude futures rose for a fourth session on Thursday

Oil prices closed at a one-week high on Wednesday, leading gains in thinly traded commodity markets, as tumbling U.S. crude stockpiles indicated more demand for energy and an offer of cheap loans for struggling European banks aided sentiment. Gold prices traded steady on Thursday, after a European Central Bank tender failed to boost market confidence in the euro zone's ability to tackle its debt crisis and knocked gold off a one-week high in the previous session. Copper fell on Thursday, snapping two days of gains, on investor concerns that the latest round of European Central Bank loans to banks were insufficient to help pull the euro zone out of a two-year-old sovereign debt crisis.

 

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Market Wrap For Commodity : 26-12-2011

26-12-2011


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.