Daily Commodity Market Wrap

[SureshBajaj]

MARKET WRAP : 05/01/2011

U.S. crude oil futures prices fell $2 on Tuesday
U.S. copper futures shed nearly 2 percent
Gold tumbles nearly 2 pct
Silver falls sharply from record high
Euro fell against the dollar early in the day

U.S. copper futures shed nearly 2 percent of their value Tuesday morning, extending a retreat from the previous session's record peak . Gold tumbled more than 2 percent on Tuesday and was on track for its biggest one-day loss since early November as the dollar rose and investors opted for assets seen as higher risk. U.S. crude oil futures prices fell $2 on Tuesday in volatile trading after briefly paring losses on news that U.S. factory orders rose in November.

 

[SureshBajaj]

06/01/2011:thumb:

Oil falls below $89 on dollar strength
U.S. dollar index rose by more than 1 percent
Gold slides towards $1,360/oz
Copper falls on firm dollar
Lead stocks in LME warehouses hit their highest levels in more than 15 years

Gold extended losses on Wednesday, continuing its biggest three-day slide since mid-November, after surprisingly strong U.S. jobs data buoyed the dollar and encouraged investors to buy into riskier assets. Oil prices fell further from 27-month highs on Wednesday as a strong dollar sapped investor appetite for commodities, despite signs of tighter oil supply . Copper fell on Wednesday from a record high in the prior session, weighed down by a firm dollar, but a stronger-than-expected jobs report .

 

[SureshBajaj]

MARKET WRAP : 07/01/2011:lol:


U.S. jobless claims higher than expected
Dollar firms versus euro
Gold prices fell for a fourth successive session
Oil fell more than a dollar to below $89
Copper slipped on Thursday as the dollar rose

Gold prices fell for a fourth successive session on Thursday, under pressure from investors taking heart from the strength of the dollar . Oil fell more than a dollar to below $89 a barrel after U.S. data showed more jobless claims than expected, raising doubts about the strength of economic recovery in the world's biggest oil burner. Copper slipped on Thursday as the dollar rose against the euro, but strong economic data from the United States indicating a bullish outlook.

 

[SureshBajaj]

MARKET WRAP : 10/01/2011

Gold's biggest weekly loss since May
US unemployment rate dips, but jobs rise below forecast
Dollar strength as euro slides
U.S. oil slips as dollar stronger
Copper ended down for a fourth consecutive session

U.S. oil prices fell on Friday in volatile trade as the stronger dollar and a stock market slide erased earlier gains, and crude started the year with a weekly loss. Gold dipped on Friday, as disappointing U.S. job growth failed to revive safe-haven demand following a raft of strong economic data, and bullion notched its biggest weekly decline since May. Copper ended down for a fourth consecutive session on Friday after disappointing jobs data in the United States tempered some of the economic recovery optimism behind the metal's early-year rally to record highs. U.S. non-farm payrolls increased by 103,000 in December, below economist forecasts of 175,000 new jobs, but the jobless rate fell to 9.4 percent from 9.8 percent in November, its lowest in more than 1-1/2 years.

 

[SureshBajaj]

MARKET WRAP : 11/01/2011

• Gold rises above $1,370/oz
• Dollar turns lower versus currency basket
• Copper down as EU debt worries
• Oil jumps 2.2 pct on Alaska pipeline leak
• Zinc falls nearly 3 pct

Oil rose over 1 percent on Monday after a leak shut an Alaskan pipeline that carries 12 percent of U.S. crude output, but gains were capped by a stronger dollar due to worries about Portugal's debt. Gold rose above $1,370 an ounce on Monday as the dollar moved into negative territory versus the euro, and as concerns over the outlook for Portugal's sovereign debt lifted the metal's appeal as a haven from risk. Copper fell 1 percent on Monday, as investors worried about sovereign debt in Europe and a rising dollar made metals costlier for non-U.S. buyers, denting demand from top consumer China.

 

[SureshBajaj]

MARKET WRAP : 12/01/2011:thumb:


Gold steadied on Tuesday, as a late fall in the euro
The euro slipped against the dollar
Copper prices climbed on Tuesday
U.S. oil prices climbed above $90 per barrel
Zinc, lead consolidate near recent lows

Gold steadied on Tuesday, as a late fall in the euro tempered some of the gains in the dollar price derived from safe-haven flows stemming from deepening worries over the severity of the European debt crisis. U.S. oil prices climbed above $90 per barrel on Tuesday as a key Alaskan pipeline remained shut, removing more than half a million barrels per day from U.S. markets and on strong winter demand for North Sea crude. Copper prices climbed on Tuesday on earnings season optimism and expectations of improving 2011 demand, but lingering concerns over European debt.

 

[SureshBajaj]

MARKET WRAP : 13/01/2011:clap:

Gold retreats after Portuguese debt auction
The euro rose for a third day against the dollar
Copper rose on Wednesday, boosted by positive economic data
Nickel hits multi week high
Brent crude oil rose to $98 a barrel

Gold eased on Wednesday after a successful Portuguese bond auction soothed some concern over the euro zone's finances and removed some investor desire for safe-haven assets, though a softer dollar stemmed the slide. Copper rose on Wednesday, boosted by positive economic data and expectations of stronger demand from top metals consumer China, with a weaker U.S. dollar also supporting prices. Brent crude oil rose to $98 a barrel on Wednesday for the first time in 27 months.

 

[SureshBajaj]

MARKET WRAP : 17/01/2011


Gold falls 1 pct after China's tightening
Silver fell 1 percent
Copper moves up with equities
Base metals trading near recent high
U.S. crude oil prices up marginally

Gold dropped 1 percent on Friday to notch its biggest two-week loss in nearly a year, after China tightened bank reserves to rein in inflation and as safe-haven demand faded on a better economic outlook. Earlier this week, Federal Reserve Chairman Ben Bernanke said the U.S. economy should grow around 3 to 4 percent this year, a healthier clip than in 2010. Copper made modest gains in London on Friday, but U.S. copper surged to near record levels as an improved U.S. economic outlook. Stocks of copper in London Metal Exchange fell 1,125 tonnes to 376,225 tonnes. Zinc closed at $2,457 from $2,462 a tonne while battery material lead was at $2,678 from $2,635 a tonne.

 

[shyam.trivedi]

Thanks for the data.

 

[SureshBajaj]

Thanks for the data.

Sir Thank you so much for liking it.

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