Commodities Futures Today

Crude Oil, Silver and Gold Prices Lose Value over Weekend

gold neclace

(Best Syndication News) Gold, oil, and silver prices are tumbling as markets open mixed in Europe after closing mixed in Asia (see futures charts below). Last week commodities closed higher but the trend is changing in the wee hours of Monday.

The Hang Seng Index (Hong Kong) advanced 0.23 percent, while the Nikkei 225 (Japan) and the Shanghai (China) composite indexes closed lower. The DAX (Germany) is opening higher early Monday while the FTSE 100 (England) and the CAC-40 (France) are lower.

The Nikkei was higher throughout most of Monday after positive economic news came in from the United States.

Gold and Silver Prices higher as Crude Oil continues to Rally

Oil Price Chart

(Best Syndication News) Gold and silver prices continued to gain throughout the weekend after a down-day on Friday (see the futures tables below). Inflation concerns waned after Fed Chairman Ben Bernanke spoke to Congress earlier in the week.

If the Federal Reserve planned more quantitative easy, prices could have risen higher Friday. The dollar slipped as stock prices retreated during Friday’s session. There was hope in the eurozone after the German Parliament approved the Greek bailout package.

Gold and Oil Prices Slide after the session close – USDJPY and EURUSD lower

Light Sweet Crude Oil Graph

(Best Syndication News) Gold and oil prices are falling early Friday as the dollar added value (see the forex and futures charts below). Metal and energy prices were on a different track yesterday, pushing higher during Thursday’s session.

An apparent erroneous report that a Saudi Arabian oil pipeline was on fire sent crude oil prices higher until Saudi officials denied the story. Analysts still worry that oil could breach the $120 mark putting the economy in peril of a downturn. On Friday the focus will turn back to Iran and the tensions brewing between the Persian country and the Western World.

Gold Prices Higher After Sharp Drop – Silver Continues to Slide – Crude Oil Up

COMEX Gold graph

(Best Syndication News) Gold prices fell drastically on Wednesday while the Federal Reserve Chairman spoke to Congress (see the futures and forex charts below). Ben Bernanke’s chat with the Committee on Financial Services coincided with the release of the Beige Book. Neither implied that another round of easing was on the way.

The U.S. Department of Commerce released their GDP numbers via the Bureau of Economic Analysis Wednesday. In their second estimate of the fourth quarter GDP, the Commerce Department said that GDP grew at 3.0 percent. This was better than economist expectations and the first estimate of 2.8 percent.

Forex Trading and Currency Exchange Rates - Crude Oil and Gold Prices Slide – Silver Higher

usd/jpy chart

(Best Syndication News) Gold prices turned around after the session close while the dollar gained versus the euro but slipped versus the yen (see the forex and futures charts below). Stock markets around the world are opening higher as confidence builds on good economic indicators.

The German Parliament passed the Greek bailout agreement providing even more optimism in the equity markets. Germany is the largest industrialized nation and most affluent country in the eurozone. Their decision played a big role in the rally early Tuesday.

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