Daily Market Wrap For Commodity

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29-10-2010

In this thread we will provide Daily Market Wrap for Commodity.

 

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29-10-2010 :thumb:


MARKET WRAP

• Gold rises as dollar weakens ahead of Fed meet
• Oil up after jobs data
• U.S. initial jobless claims fell last week
• Copper rises but gains capped
• Base metals tumbled after U.S. job data

Gold rose back above $1,345 an ounce on Thursday as rising uncertainty over the scope and impact of potential U.S. monetary easing to be announced by the Federal Reserve next week knocked the dollar sharply lower. Copper rose on Thursday helped by renewed dollar weakness, supply threats and strong U.S. jobless claims data, but gains were capped by uncertainty over the scope of possible monetary easing by the U.S. Federal Reserve.

 

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01-11-2010

MARKET WRAP

• Gold rises 1 pct as dollar slumps
• Oil prices fell on Friday after data showing tepid U.S. economic growth
• US economy grew as expected in Q3
• Copper ends lower, hits 3-week low
• US FOMC meeting announcement on Wednesday

Copper led a broader retreat in the base metals complex on Friday, falling to its lowest level in three weeks, as markets cut risk and investors turned cautious ahead of next week's pivotal Federal Reserve meeting. Gold rose 1 percent on Friday, setting a 10- day high as a lower dollar prompted investors to buy ahead of next week's Federal Reserve meeting, at which the central bank is expected to discuss further monetary stimulus.

 

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02-11-2010

MARKET WRAP

• Gold retreats as dollar recovers
• Silver breaks through $25/oz for first time since 1980
• Oil jumped almost 3 percent towards $84
• Copper rallies on strong U.S., China data
• Dollar index falls ahead of FOMC meeting

Gold eased in Europe on Monday as the dollar firmed, but remained supported after three consecutive months of gains by expectations the Federal Reserve will unveil further U.S. quantitative easing at a meeting on Nov. 2-3. The dollar gained against the euro and yen and rose 0.1 percent against a basket of currencies . Oil jumped almost 3 percent towards $84 a barrel on Monday after Saudi Arabia's oil minister said consumers were looking for prices between $70 and $90, a higher range than previously targeted. Copper rose by more than 2 percent on Monday after U.S. and Chinese manufacturing data boosted demand prospects and was also supported by a backdrop of dollar weakness and increasing market tightness.

 

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03-11-2010

MARKET WRAP

• Gold rises as dollar wilts ahead of Fed
• Dollar retreats ahead of Fed meeting
• Oil price jumps after Libya talks of $100
• Copper rose on Tuesday as the dollar fell
• lead stocks at highest level in more than 10 years

Gold firmed in Europe on Tuesday, climbing back towards the previous session's near two-week high, as the dollar retreated ahead of a hotly anticipated policy meeting of the U.S. Federal Reserve starting today. Copper rose on Tuesday as the dollar fell and on signs demand could be improving in top metals consumer China as well as in Europe, but investors were cagey ahead of U.S. elections and a Federal Reserve meeting.

 

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04-11-2010

MARKET WRAP

• Gold, silver tumble ahead of Fed announcement
• Oil extends gains after EIA data
• U.S. crude inventories rose by a more-than-expected
• Copper eases as dollar gains after U.S. data

Gold slid more than 2 percent on Wednesday and silver tumbled as spot prices were knocked by heavy liquidation of New York metals futures ahead of an announcement on monetary policy from the Federal Reserve. Oil prices extended gains on Wednesday to trade above $84 after U.S. data showed oil product inventories fell sharply last week, as the spotlight remained on a Federal Reserve statement awaited later. Copper slipped in London on Wednesday as the dollar firmed on upbeat U.S. data ahead of a Federal
Reserve decision on further monetary policy easing to shore up the world's largest economy.

 

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08-11-2010

MARKET WRAP

• Gold,silver hits record high
• Dollar firms, briefly capping commodities' gains
• U.S. crude oil futures rose for a fifth day on Friday
• Copper rose slightly on Friday

Gold hit a record peak on Friday and industrial metals and oil pushed higher as
investors took a surprisingly robust U.S. jobs report as a hint that the economy was in better shape than previously thought. The U.S. currency gained against its major rivals after the data showed nonfarm payrolls increased for the first time since May, slightly curbing commodities gains. Dollar weakness, which makes dollar-denominated commodities cheaper for foreigners to buy. Copper rose slightly on Friday and posted its biggest weekly gain in more than three months on support from a weak dollar outlook, surprisingly strong U.S. labor data and a strike in top-producer Chile. U.S. crude oil futures rose for a fifth day on Friday and posted the highest close in two years, aided by the stronger-than-expected increase in U.S. jobs, but a rally in the dollar limited oil's gains.

 

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09-11-2010

MARKET WRAP

• Gold dipped on Monday following its largest two-day gain
• Copper under pressure from firmer dollar
• Crude oil prices slip toward $86
• The dollar rose on Monday
• Quite movement in base metals

Gold dipped on Monday following its largest two-day gain in a year at the end of last week, but remained near record highs after the dollar rallied against the euro and dented precious metals prices. The gold price has risen by about 5 percent in the last five trading days, driven by the drop in the U.S. currency after the Federal Reserve last week detailed its plans to buy over half a trillion dollars' worth of Treasuries to revive the economy.