Commodities News

Copper at a 1-week low

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

Gold Falls Amid Worsening EU Situation

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

Royal Dutch Shell Plc , BP Plc and Statoil ASA Being Probed for Price Fixing (Updated May 16)

According to Royal Dutch Shell, BP, Statoil – three of Europes biggest oil producers, and Platts – the oil-price data collector owned by McGaw Hill Financials Inc., they are being investigated by the European antitrust regulators about potential manipulation of prices. The probe aims at the lack of transparency in the pricing of financial products […] Read more

Dollar Rebounds, Gold Slips Again

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

Copper Falls Amid Chinese Industry Slowdown

Copper slid the most in two weeks following signs of slowing in Chinas growth – the worlds biggest consumer of the metal. The Asian nation is responsible for around 40% of the copper consumption worldwide and for a long time has been one of the main factors, which influence the metals price. According to JPMorgan […] Read more

WTI Crude Trades At a One-Week Low

West Texas Intermediate dropped to a one-week low today, because of forecasts that U.S. supplies climbed to the highest since 1931. The IEA announced that the U.S. oil production will be higher than the volume, demanded by the dynamically developing countries. Michael Poulsen, an analyst at Global Risk Management in Middelfart, Denmark explains: “Supply-demand is […] Read more

Increased U.S. Oil Supply to Meet Higher Worldwide Demand

OPEC will barely have to raise oil output in the next five years as U.S. shale oil is planned to meet most of the new worldwide demand, even if the global economy picks up the pace, the Wests energy agency said on Tuesday. According to the International Energy Agency, which analyses global oil supply and […] Read more

Gold Regains Strength as Dollar Weakens

After 3 days of lowering prices, which dropped to $1,434.15 an ounce on May 13th, gold regained strength today after luring some buyers, discouraged by the weakening of the greenback. That is the biggest intraday gain since then. Following the biggest drop in 33 years on April 15, gold has been steadily increasing its value […] Read more