Monday, 10 October 2011
Wednesday, 5 October 2011
Asia Stocks Cut Gains, Policy-makers To Test The Determination
Asian stocks trim early gains Wednesday as investors were skeptical about whether European leaders go far enough efforts to stop the miseries of the region's sovereign debt triggered a banking crisis in itself.
Also raised doubts about the sustainability of the largest U.S. stocks Tuesday after the Federal Reserve, Ben Bernanke, has promised more if needed economic stimulus, easing concerns about damage to the U.S. economy due to the possible Greek default.
"The market in Asia for the test solution can provide a stimulus Bernanke," said Jonathan Barratt, Managing Commodity brokerage services.
"What the market wants to see something concrete, and it is to lose faith in what Bernanke has to offer."
In credit markets, which have been showing increasing signs of strain last week, the iTraxx Asia ex-Japan investment grade index was stable, after a surge earlier this week.
In the latest blow to be distributed to investor confidence in the insoluble crisis of Europe, Moody's lowered the debt of Italy by three notches on Tuesday, said he saw a "significant increase" in risk financing for countries of the euro.
Tuesday, 4 October 2011
Crude Oil Price Plunge Continues To Cover The Debt Of The Euro
Crude prices sink further Monday on heightened concerns for the debt problems of the euro area and the possibility of a breach of Greece, which pushed oil and supported the dollar. Traders were closely the events in Europe, where concerns are growing after the news that Greece will miss his deficit target this year, which in turn will slow economic growth and weakening demand for crude oil. Risk appetite of investors soured again when the euro dropped more than eight months against the dollar lower on concerns over Greece.
At the same time, oil prices have been squeezed by higher expected rate of return of Libyan crude oil exports. Although the front month Brent crude remains above $ 100 a barrel in December and January contracts fell under the psychologically key level.
Benchmark crude for delivery in November set at 77.61 dollars a barrel, falling $ 1.59, or 2.01 percent, having traded in the range of $ 76.85 to $ 79.64 on the New York Mercantile Exchange. In London, Brent crude for November delivery hit $ 101.71 in, down $ 1.05, or 1.02 percent on the ice
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Monday, 3 October 2011
Silver rise on spot demand
Silver prices shot up by Rs 734 to Rs 53,285 per kg in futures trade today on increased buying by speculators following rising spot market demand for the ongoing festivals amid a firming Asian trend.
At the Multi Commodity Exchange, March silver jumped up by Rs 734, or 1.40%, to Rs 53,285 per kg, with a business turnover of 263 lots.
The December contract shot up by Rs 669, or 1.31%, to Rs 51,850 per kg, with an open interest of 9,915 lots.
Meanwhile, silver climbed 2.7% to $30.72 an ounce in Singapore.
At the Multi Commodity Exchange, March silver jumped up by Rs 734, or 1.40%, to Rs 53,285 per kg, with a business turnover of 263 lots.
The December contract shot up by Rs 669, or 1.31%, to Rs 51,850 per kg, with an open interest of 9,915 lots.
Meanwhile, silver climbed 2.7% to $30.72 an ounce in Singapore.
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Gold Market Report
Gold remains consolidative in the recent range, with a softer intraday tone. A firmer dollar is weighing on the yellow metal after the euro was knocked by much weaker than expected retail sales in Germany. Despite the indication of weaker consumption, signs of inflation are mounting. Eurozone HICP jumped to 3.0% in Sep, well above the 2.5% the market was expecting. As we noted earlier in the week, rising inflation will give the ECB pause in lower rates again, even as growth risks mount. Additionally, Swiss KOF leading indicators fell more than expected.
While the expansion of the ESFS bailout fund cleared a major hurdle yesterday in getting the blessing of the German parliament, other EU member states must still approve. While the approval is likely to be forthcoming, the EU will then have to deal with the reality that the fund is probably still not large enough.
The IMF — perhaps recognizing the weakness of the ESFS — is looking to about double its bailout capabilities to $1.3 trillion. According to The Wall Street Journal, they are also "weighing whether to sell bonds in private markets on short notice, a move that could bolster its safety net beyond $1.3 trillion." So the IMF will look to issue debt as a means to mitigate debt crises... Brilliant.
More paper is just what the world needs: Paper in the form of debt (bonds) and paper in the form of fiat currency. The proliferation of paper is exactly what has perpetuated the 11-year bull market in gold, which largely solidifies in my mind that the recent pullback is nothing more than another correction in that long-term uptrend.
GET 2 DAYS FREE TRAIL IN GOLD, SILVER AND CRUDE OIL
While the expansion of the ESFS bailout fund cleared a major hurdle yesterday in getting the blessing of the German parliament, other EU member states must still approve. While the approval is likely to be forthcoming, the EU will then have to deal with the reality that the fund is probably still not large enough.
The IMF — perhaps recognizing the weakness of the ESFS — is looking to about double its bailout capabilities to $1.3 trillion. According to The Wall Street Journal, they are also "weighing whether to sell bonds in private markets on short notice, a move that could bolster its safety net beyond $1.3 trillion." So the IMF will look to issue debt as a means to mitigate debt crises... Brilliant.
More paper is just what the world needs: Paper in the form of debt (bonds) and paper in the form of fiat currency. The proliferation of paper is exactly what has perpetuated the 11-year bull market in gold, which largely solidifies in my mind that the recent pullback is nothing more than another correction in that long-term uptrend.
GET 2 DAYS FREE TRAIL IN GOLD, SILVER AND CRUDE OIL
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