June 3, 2013 8:50 am
According to the Chinese governments official report on Saturday, the countrys manufacturing Purchasing Managers Index rose to 50.8, which exceeded the 50,6 forecast. This brought signs of stabilizing growth in China after last week The IMF cut its economy growth forecast for China to 7.75%, down from 8%. The Organisation for Economic Co-operation and Development […]
Read moreJune 3, 2013 7:44 am
Gold keeps gaining, following disappointing U.S. data from last week. The precious metal extended its first back-to-back weekly gain of 0.4% in four weeks as the greenback retreated and hedge funds raised bets on a gold rally the most in two months. On the New York Mercantile Exchange, gold for August delivery traded at $1 […]
Read moreJune 3, 2013 6:55 am
Brent oil plunged after OPECs meeting in Vienna on May 31 where leaders decided to not change the 30 million barrels per day output ceiling. Further pressure on oil prices, both Brent and WTI, was put by disappointing economic data from China on Saturday, which spurred concern about demand as China is the second biggest […]
Read moreMay 31, 2013 12:51 pm
At OPECs meeting in Vienna on Friday, which was a factor for fluctuation in oil prices this week, members agreed to leave output policy unchanged and keep their quota of around 30 million barrels per day. The Organization of the Petroleum Exporting Countries came to an understanding that it should not change the pace of […]
Read moreMay 31, 2013 12:04 pm
Hiromi Iwahama, director for grain trade and operation at Japans agriculture ministry, said the Asian nation suspended imports of western-white wheat and feed wheat from the United States. The U.S. government discovered an unapproved genetically modified strain of wheat growing in Oregon. As a result Japan cancelled a 24 926 metric tons white wheat purchase. […]
Read moreMay 31, 2013 10:08 am
Soybeans for July delivery traded at $15.08, up 0,78% on the day. The grain is headed for its best month since July as steady demand from China dries up U.S. stockpiles. This is a fifth straight week of gain. Prices surged 7.7% in May as the worst drought in the U.S. since 1930 hit last […]
Read moreMay 31, 2013 9:00 am
Gold is heading to its best week for the month after prices reached $1 418,25 a troy ounce yesterday. Gold for August delivery stands at around $1 415,25 at 8:45 GMT, up 0,25% on the day. Gold declined around 15% this year and experienced its biggest slump on April 15 and 16. The precious metal […]
Read moreMay 31, 2013 8:03 am
Brent oil extended further losses and dropped below $102 on Friday, pressured by worries about demand in the United States – worlds biggest oil consumer that accounts for more than 20% of global consumption. The Energy Information Administrations report published on Thursday had some controvertial effects initially, but ultimately led to a decrease in oil […]
Read moreMay 31, 2013 7:33 am
According to Zhang Bingnan, secretary-general of the China Gold Association, gold demand in the worlds second biggest gold consumer, following India, may drop in the second half of the year. China, like India and many central banks, were attracted by lower prices as gold declined 15% this year and experienced its biggest slump on April […]
Read moreMay 31, 2013 6:59 am
WTI crude traded lower at $93.50 a barrel on the Nymex in Asian trading, down 0.11% on the day. Prices settled up 0,5% on Thursday following surprising decline in U.S. gasoline stockpiles. The Energy Information Administration’s report published on Thursday showed gasoline inventories fell to a seasonally adjusted rate of 1.514 million barrels, compared to […]
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