Soros Joins Gold-Stake Cuts

May 16, 2013 9:29 am
George Soros, billionaire investor, joined Northern Trust Corp. and BlackRock Inc. in lowering investments in gold backed ETPs. That happened before the market went bearish last month, followed by the deepest plunge in history April 15 and thus erasing $42 billion from the value of ETP assets this year, according to data compiled by Bloomberg. […] Read more

WTI Crude Declines Amid Economic Slowdown

May 16, 2013 8:13 am
West Texas Intermediate continues its bearish trend amid signs of economic weakness in most of its major consumers. Data released yesterday showed below expectations economic growth in Germany, slip into recession by France, Italy performed worse than forecast and the U.S. showed slowdown in the industrial sector. This and the cut estimate of Chinas GDP […] Read more

China Shows Increased Gold Demand

May 16, 2013 7:17 am
Chinas gold demand increased in the first quarter by 20%, reaching 294,3 metric tons according to a report by the World Gold Council. Global demand fell 13% to 963 tons compared to Q1 2012 and gold slipped into a bear market after its biggest drop on April 15 as inflation failed to accelerate and investors […] Read more

WTI Crude Remains Low After Surprising Inventory Report

May 15, 2013 3:24 pm
According to the U.S. oil reserves report released today, crude inventories decreased by 624 000 barrels last week to 394,9 following its record amount since 1931. Economists expected a 450 000 barrels gain. Phil Flynn,senior market analyst at the Price Futures Group in Chicago said: “We are still swimming in oil. We still have plenty […] Read more

Brent Oil Slips Below $102

May 15, 2013 1:20 pm
Brent oil tumbled below $102 a barrel on May 15 after latest data revealed worsening in all of Europes major economies, including France falling in recession. Germany dodged contraction of its economy as consumption increased, but its GDP growth was barely enough to compensate for Europes economy slowdown as a whole. This marked a record […] Read more

Copper at a 1-week low

May 15, 2013 12:12 pm
Copper reached a 1-week low after data showed the economies of its three biggest consumers – China, USA and Germany, are slowing down. JPMorgan Chase & Co. cut its growth estimate this year for China from 8% to 7,6%. Germany also showed negative signs with a worse than expected performance. The Federal Statistics Office said […] Read more

WTI crude near two-week low

May 15, 2013 9:21 am
WTI crude fell for a fifth day near a two-week low amid low demand and increased stockpiles. The Energy Information Administrations oil reserves report is scheduled for release in the morning. The industry-funded American Petroleum Institute said that U.S. crude inventories gained 1.1 million barrels last week and according to a Bloomberg survey stockpiles may […] Read more

Gold Falls Amid Worsening EU Situation

May 15, 2013 7:59 am
Gold retreated on a stronger dollar after worse-than-expected data from the Euro zone pressured the euro. Data showed yesterday that the German ZEW index rose well below expectations, while the index of current conditions fell. Gold slipped further today after reports showed that Frances economy will enter a recession following a second quarterly economic slowdown […] Read more

Dollar Rebounds, Gold Slips Again

May 14, 2013 3:10 pm
Gold fell during the afternoon european session today after the greenback gained strength following disappointing data from Germany. The ZEW index of German economic sentiment rose to 36,4, up from 36,3 in April, but way below expectations of of 38,3. The index of current conditions fell to 8,9 from 9,2 in April, which is a […] Read more