|
You are here : Home >> Currency Street >> Report |
|
|
| |
Major commodities down on dollar surge |
| |
|
|
| |
All major commodities including oil, gold and major base metals were all fell to a surging greenback as growing perception among investors that growth in Europe is slowing just as a U.S. recovery begins.
That drove the dollar higher and pushed oil prices to three-month lows on Friday, lifting both U.S. and European shares.
The US dollar climbed to a six-month high against the euro, knocking gold and other metals prices down, along with oil, and bolstering the outlook for economic growth and profits among U.S. equity investors.
Oil hit a more than three-month low at $111.34 on the stronger dollar and a view that demand in industrialized nations is waning. Gold tumbled below $800 an ounce, hitting its lowest price since last November, while silver sank nearly 10% and other precious metals also plummeted.
The drop in commodities prices raised hopes on Wall Street of a consumer spending recovery, although the slide in crude prices pushed down shares of materials and energy-related companies.
European shares also gained, as aerospace and defense companies rallied on the stronger dollar, withstanding a heavy drag from falling mining stocks on the lower commodities prices.
The dollar was on track for a fifth week of gains against the euro, amid signs the U.S. economic slowdown may be bottoming while growth in the euro zone stalls.
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
| Technical Calls |
|
| |
Gold, Silver prices caught in dull trading |
| |
Gold rose to see a gain of $11.54 as high as $1119.24 in London on Friday morning, before the Gold Price fell back off for most of the rest of trade and ended near its late session low of $1098.15. Dropping 0.5% for the day, the Gold Price lost almos |
 |
| |
Gold, Euro and Greek crisis |
| |
The move lower in gold today was attributed to easing concerns over Greece and consequently Europe in general which led some to move back into the Euro and out of gold as fears subsided and safe haven trades were reversed. |
 |
| |
Traders fear Chinese bubbles |
| |
These are impressive numbers, and I see where some would believe the Chinese economy is nothing but an ever increasing bubble. Another bubble which worries many investors is the Chinese property market, where prices in China's 70 largest cities rose |
 |
|
More> |
|
|
|
|
|
| |
|
| |
Crude oil futures in the international market registered a modest gain Friday on the back of the improved US job data coupled with rise in the retail sales and industrial production. |
 |
| |
|
| |
MCX Comdex was down by 0.28% to 2689.32, MCX Energy was up by 0.81% to 2704.78 and MCX Metal was down by 1.25% to 3210.18. |
 |
| |
|
| |
Jeera futures continued to trade down on Friday for the second straight session due the higher arrivals and the subdued demand from the overseas market.
|
 |
|
More> |
|
|
|
|
|