Commodities Futures Today

Gold and Silver Prices Trending Higher as Markets in Asia Open Mixed – Crude Oil Slips

image of oil well

(Best Syndication News) Crude oil prices began to slide over the weekend after a run-up last week (see futures charts below). Stock markets in Asia are opening mixed after better-than-expected economic news in the United States on Thursday and Friday. Silver and gold prices are turning around since the session close.

Precious Metals

While gold prices slipped on Friday, the weekly and month trends continue in the positive direction (see the survey #2 settle price chart below). Inflation concerns have trumped economic fears, even as the Federal Reserve telegraphed their interest rate targets well into 2014. Low rates also made the golden metal an attractive investment.

Federal Reserve Policy Boosts Commodity Futures – Oil Prices Continue to Climb as JPY and USD Slide

NYMEX WTI Crude Oil graph

(Best Syndication News) The U.S. dollar came under pressure as equity markets rebound Thursday (see forex and commodity charts below). Gold, silver, oil, and gasoline prices increased during the session.

Several factors are working on oil prices. The Iranian situation has put upward pressure on Brent and light sweet crude oil prices. Tensions between Iran and the United States and Europe have pushed Brent crude oil futures over $120 a barrel.

The U.S. central bank policy is also playing a role. St. Louis Federal Reserve Bank President, James Bullard, told reporters Friday that Fed policy has bled through to higher stock and commodity pricing. “This is a serious issue for the committee to consider,” Bullard said.

Gold Prices Jump on Economic Fears – Silver Prices Rebound and USD continues to Slide

USD/JPY Chart

(Best Syndication News) Commodities jumped as jittery investors fled Wall Street Wednesday (see the forex and futures charts below). The precious metals played a hedge role against risk and possible future inflation.

Precious Metals

Gold futures picked up steam as risk was turned-on at the New York Stock Exchange (NYSE) Wednesday. The golden metal climbed nearly 13 dollars during the trading day (see the survey #2 settle price chart below). Since the settle, COMEX gold for April delivery added $6.70 to $1776.80 a troy ounce early Thursday.

Commodities and Futures – Silver and Gold Prices Rise while Crude Oil Advance

gold price chart

(Best Syndication News) Gold and silver prices are moving higher on Monday as Asian stock markets pick-up steam (see futures charts below). Brent crude oil prices and WTI were both higher last week.

Equity, commodity, and currency markets are all hinged on news from Europe. Precious metals and crude oil prices are supported by optimism that Greek lawmakers and European leaders will consummate an agreement for the next round of bailouts.

Stock markets in Australia and East Asia are opening higher on the expectations.

Gold and Crude Oil Prices Higher as Sliver Slips – USD gains vs JPY but lower vs EUR

GBP/USD Chart Graph

(Best Syndication News) Gold and crude oil prices benefited from the upward swing in stock prices around the world Thursday (see the forex and futures charts below). The Japanese yen slipped as European leaders made some headway concerning the Greek sovereign debt crisis.

There is hope that Greek lawmakers will work out a deal with their private bond holders on Monday. Greece has presented details on how they will get the €300 billion cuts to satisfy the troika, but there is no word yet whether the ECB will cut their bonds (not make a profit on them) to help the Hellenic Republic out.

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