Gold, Silver, Copper and Crude Oil Briefing

Share
Gold, Silver, Copper and Crude Oil Briefing

ING's outlook is in contrast to bullish views from Royal Bank of Canada and Goldman Sachs Group Inc.to BMI Research and Societe Generale SA, which see prices supported as strong demand soaks up supply from the U.S. While Patterson does see healthy oil consumption, he said growth may slow and fail to completely absorb gaining American output.

Crude prices rose on Friday after the US economy added the biggest number of jobs in more than 1-1/2 years in February. Helping the dip, hedge funds and money managers cut their bullish wagers on US crude oil for the first time in three weeks, data showed on Friday.

U. S. Stocks closed mixed, with the S&P 500 and Dow Jones Industrial Average ending in the red, while the Nasdaq Composite added about 28 points.

During the said week, Organization of Petroleum Exporting Countries (OPEC)'s basket price stood at $63.58 per barrel with $49 cents increase compared to the preceding week.

Benchmark 10-year notes last rose 2/32 in price to yield 2.8865 percent, from 2.894 percent on Friday.

"It just looked like some profit taking", said Jim Ritterbusch, president of energy advisory firm Ritterbusch & Associates.

New indications of growing USA output come as the Organization of the Petroleum Exporting Countries-which has been holding back output by 1.8 million barrels a day since the start of last year-is divided over how high the price of oil should be.

"Nothing really stood out", said Goncalves, head of US rates strategy at Nomura Securities International in New York."You can consider that a good thing, given this year will see more and more Treasuries issued".

"Secretary of Commerce Wilbur Ross will be speaking with representatives of the European Union about eliminating the large tariffs and barriers they use against the United States of America", he stated.

MSCI's world equity index hit a two-week high, while Hong Kong's Hang Seng Index closed up 1.93 percent. Some of the pressure is coming from a recovery in the U.S. Dollar, which could affect foreign demand.

Gold at 1323.30 is trading above 1st support on the daily candle, and while above the support near 1310-1315, the price is likely to move up to 1340/50.

Share

Advertisement

Related Posts

Wells Fargo & Co Reiterates Buy Rating for Sempra Energy (NYSE:SRE)
TheStreet downgraded shares of Sempra Energy from a "b-" rating to a "c" rating in a research report on Tuesday, February 27th. They now have a $120.00 price objective on the utilities provider's stock, down from their prior price objective of $121.00.

Delhi: Kejriwal's top aide, a 'witness' in chief secretary assault case quits
In one his statements, Jain said he was in the washroom at the time the incident took place but later changed his statements. Jain had not been coming to the CMO since the incident and had gone on a week-long medical leave, the sources said.

The National Retail Properties, Inc
Also, EVP Michelle Lynn Miller sold 750 shares of the business's stock in a transaction that occurred on Thursday, December 14th. Salem Invest Counselors stated it has 0% in National Retail Properties, Inc. (NYSE:NNN). 7,747 are held by Oppenheimer And Inc.

Pogba misses training ahead of Sevilla tie
Manchester United do not have a strong record in two-legged ties against Spanish clubs, having won just six of their 13 ties (L7). This means that based on Liverpool's non-shooting actions around United's penalty box, they should have scored nearly 3 goals.

USA stocks rise ahead of inflation, retail sales data
Retail Sales are expected to make a recovery from last month's disappointing -0.3% performance with a reading of 0.3%. The deal values Oclaro at $9.99 a share, or $1.69 billion, and its stock gained $2.10, or 26.7 percent, to $9.95.

News & Notes For Tonight's WWE RAW From Detroit
Strowman is being kept behind emergency glass in case Roman Reigns is damaged by steroid allegation made by filmmaker Jon Bravo . We'll get the Ultimate Deletion on Raw next week, so that could be great, or it could completely deflate the live crowd.

French Connection losses narrow as it reveals aborted takeover interest
The group narrowed its pre-tax losses to £2.3m, smaller than a £5.3m loss in the prior year. This is down from 65 full-price stores in 2013 and around 36 now .

Giants lose out on Andrew Norwell to Jaguars | What now?
Norwell did not allow a sack, was Pro Football Focus' third-highest graded guard, and the top-graded pass-blocking guard in 2017.

FY2018 EPS Estimates for Henry Schein, Inc. Boosted by Analyst (NASDAQ:HSIC)
Manchester Capital Management Llc sold 5,341 shares as the company's stock declined 6.04% while stock markets rallied. About 1.08M shares traded. 213.38 million shares or 1.82% more from 209.56 million shares in 2017Q2 were reported.

Baby-sitter accused of abusing OH girl, 3, causing brain damage
Lindsay Partin , 35, is charged with felonious assault and child endangering, according to WCPO Channel 9 . Lindsay Partin Butler County babysitter came recommended with ideal credentials.

© 2015 ExpressNewsline. All Rights reserved.