From the UK’s British Geological Survey
Comments »Price Correlation Soars to 97.2%; Highest Point Since Lehman Debacle
Interesting correlation as most banks and institutions tout diversification. Gold and silver have been the best diversification lately.
Comments »Gold Continues to Settle Down While the Dollar Strengthens
Could Gold Double From Here by Year End ? One Trader Thinks So
I doubt this analysis unless there is a frozen banking market for 3 months plus….just do not see that happening.
Comments »Russia Considers Growth Concerns and a Weak Ruble @ $60 Oil
Will we see $60 oil ? OPEC will surely try to keep prices up, but a global slowdown coupled with possible liquidity concerns and deflation could bring about such a scenario.
Comments »Gold Trades Flat on Profit Taking and Growing Liquidity Concerns
OPEC to cut production; global demand slowing by 150,000 bbl/day
Comments »OPEC cut its forecast Monday for global oil demand and production, citing the slowing economic recovery.
In a monthly report, the Organization of Petroleum Exporting Countries said it expected demand to drop to 1.1 million barrels per day worldwide. That’s a reduction of 150,000 barrels per day from its earlier forecasts.
OPEC also trimmed back its oil production outlook, saying it still expects output to increase, but by a slightly smaller 500,000 barrels per day in 2011 — 80,000 barrels below its prior forecast.
“The downward adjustment has been due to a weaker-than-expected driving season in the US and the ongoing sluggish economic performance in the OECD,” said the report, referring to an organization of 32 member nations that includes the United States., the United Kingdom, Germany and Japan.
OPEC said weaker-than-expected demand from China and “ongoing economic uncertainties” were reflective of a global slowdown in industrial activity in most major economies.
Gold Unexpectedly Down Amid Global Debt Fears; Technical Analysis Suggests a Test of $1700 Before Resuming Bull Trend
Nikkei Steps Into a Murder Hole
Nikkei down a little over 2% for this week’s opening trade,
Spot gold trades higher, but pares gains quickly,
Euro weak out of the gate,
U.S. dollar up against most currencies except for the Yen
Brent and NYMEX crude down 1%+
U.S. futures off by 1% on Greek debt fears
Comments »Oil Moves Higher Overnight; But Then Pares Gains
A Stronger Dollar Steals Upside Action From Gold
Oil Trades Down to Unchanged Over Night As Libyans Discuss Output
Investors Ignore a Potential Double Top in Gold and Bid the Shiny Metal Higher
Energy Stocks on Fire Today
Chart Analysts Point to a Double Top in Gold
Commodities Rise Across the Board
Low interest rates are being used as an excuse for global recovery, but a reflex rally and value buying is probably more like it.
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