NW Business and Finance

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Crude Prices Rebound Again as Fuel Stockpile Dropped; RBNZ Cut Rates; Focus on ECB + MORE

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Commodity prices retreated on profit-taking. Market sentiment was also damped by IMF’s warning of increasing risk on global growth derailment. The front-month contract for WTI crude oil fell for the first time in 3 days by -3.69% while the Brent contract recorded the first drop (down -2.91%) after gaining over the past 6 days (up +15…

Continue Reading On oilngold.com »

Crude oil prices resumed recent rebound, leading energy shares and equity indices higher. The front-month WTI crude contract rose to a 3-month high of 38.51 before settling at 38.29, up +4.9%. The Brent contract initially soared to as high as 41.18 before ending the day at 41.07, up +3.58%. RBOB gasoline jumped almost +6% as DOE/EIA reported another week of decline in stockpile…

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Financial markets steadied on Friday following a rollercoaster ride upon ECB’s policy decisions. Risk appetite was lifted shortly after ECB announced a series of broader-than-expected stimulus measures to boost the economy and inflation. The euro slumped against US dollar while stocks in Europe and Wall Street rallied…

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This week, clients have been selling larger values of all precious metals, possibly speculating ahead of the ECB meeting on Thursday and taking advantage of the higher prices seen through the week.
Conversely, we have seen a lot of buying by clients taking advantage of the price dips seen over the week…

Continue Reading On .goldmoney.com »

Gold is the only sound money

– .goldmoney.com

This article notes that the technical situation for the gold price has sharply improved, to the evident surprise of many mainstream analysts. It discusses possible reasons behind the turnaround, and implications for the future.
The technical situation is shown in the chart below.

A “golden cross”, with the 55 day moving average crossing above the 200 day moving average with both of them on a rising trend, and the share price above both these moving averages, has now occurred…

Continue Reading On .goldmoney.com »

Commodities rallied, on hopes that additional Chinese easing measures would raise demand. Energy prices jumped as US oil rig counts fell to the lowest level since December 2009 and Russia indicated that a meeting between OPEC and some non-OPEC producers would be held later this months. the front-month WTI crude contract soared to as high as 38…

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Market Report: Gold breaks out

– .goldmoney.com

Despite a sharp run-up over the last two months, gold’s consolidation of previous strength has been a three-week sideways affair.
Gold’s price started the week at $1260 and as of this morning (Friday 0800 London time) was $1271, after trading as high as $1282 overnight. Silver moved from $15.58 to $15…

Continue Reading On .goldmoney.com »

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