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Monday, December 9, 2013
Tuesday, December 3, 2013
Gold Climbs From Five-Month Low After Biggest Drop Since October
Berita jalatama : Gold
advanced from a five-month low, after the biggest one-day drop since October,
as investors assessed whether the U.S. economy is strong enough to warrant a
reduction in monetary stimulus.
Bullion
for immediate delivery gained as much as 0.4 percent to $1,224.39 an ounce, and
traded at $1,223.89 at 9:22 a.m. in Singapore. Prices earlier dropped to
$1,217.84, the lowest since July 8, after tumbling 2.7 percent yesterday, the
most since Oct. 1.
Gold
lost 27 percent this year, touching a 34-month low of $1,180.50 in June, on
speculation the Fed will start paring asset purchases that drove a 12th annual
advance in 2012 as the economy improves. Data yesterday showed that while U.S.
manufacturing unexpectedly accelerated in November at the fastest pace in more
than two years, retail spending fell on the weekend after Thanksgiving for the
first time since 2009.
Gold
for February delivery traded at $1,223.40 an ounce on the Comex in New York
from $1,221.90 yesterday, when prices slumped 2.3 percent. Trading volume was
3.5 percent below the average for the past 100 days at this time of day, data
compiled by Bloomberg showed.
(Source: Bloomberg)
Monday, December 2, 2013
WTI Crude Climbs as China Manufacturing Growth Exceeds Estimates
West
Texas Intermediate crude advanced for a second day after data showed
manufacturing growth last month exceeded estimates in China, the world’s
second-biggest oil consumer.
Futures
climbed as much as 0.5 percent in New York. The Purchasing Managers’ Index was
51.4, the National Bureau of Statistics and China Federation of Logistics and
Purchasing said yesterday. That matched the 18-month high reached in October
and exceeded 24 out of 26 estimates in a Bloomberg News survey. The
Organization of Petroleum Exporting Countries will keep its oil production
quota unchanged at 30 million barrels a day when it meets in Vienna on Dec. 4,
another survey showed.
WTI
for January delivery rose as much as 48 cents to $93.20 a barrel, and was at
$93.14 in electronic trading on the New York Mercantile Exchange at 11:40 a.m.
Sydney time. The contract gained 42 cents, or 0.5 percent, to $92.72 on Nov.
29. The volume of all futures traded was about 42 percent above the 100-day
average. Prices fell 3.8 percent in November.
Brent
for January settlement increased as much as 69 cents, or 0.6 percent, to
$110.38 a barrel on the London-based ICE Futures Europe exchange. The European
benchmark was at a premium of $17.16 to WTI. It ended the session at $16.97 on
Nov. 29, narrowing for a second day.
(Source:
Bloomberg)
Thursday, November 28, 2013
Tin Gains Seen by Indonesia as Largest Shipper Takes Aim at LME
Indonesia
is seeking higher tin prices as the largest exporter presses on with a policy
that metal be traded on a local exchange before shipment, affirming a shift
that roiled the market when it began three months ago.
The
policy, which started on Aug. 30, is on the right track, according to Sutriono
Edi, head of the Commodity Futures Trading Regulatory Agency. The government
doesn’t envisage changing the rule as volumes on the Indonesian Commodity and
Derivatives Exchange, or ICDX, are rising, said Trade Minister Gita Wirjawan,
who’s targeting higher prices.
Southeast
Asia’s largest economy wants to challenge the London Metal Exchange as the site
for setting the benchmark rate for the metal used in smartphones and packaging,
as well as boost prices. The curb reduced supplies to the global market,
exacerbating a deficit, and pushed futures to a six-month high. This year’s
best performing base metal was listed by Morgan Stanley’s Peter Richardson this
month as a top pick for 2014.
“I’m
pleased but not fully satisfied yet, if possible the price should increase
further,” Wirjawan said on Nov. 25 in Jakarta, without giving a specific
target. “That’s the value crystallization that we want,” he said.
Tin
rose on the LME in July and August, before the rule took effect, and then
jumped 9.8 percent in October, the biggest monthly advance since September
2012. The price, which reached $24,000 a metric ton on Oct. 4, traded at
$22,915 at 1:34 p.m. in Jakarta yesterday. Stockpiles tracked by LME fell to
10,795 tons yesterday, the smallest since March 2012 and 30 percent below the
level on Aug. 30.
(Source: Bloomberg)
Wednesday, November 27, 2013
Dollar Holds Slide as Taper Bets Pared Before Jobs, Orders Data
The
dollar remained lower versus the yen and euro before U.S. data today that may
signal a mixed recovery in the world’s biggest economy, damping prospects the
Federal Reserve will start reducing stimulus this year.
The
greenback held losses against most major counterparts ahead of figures that may
show jobless claims increased and durable goods orders fell, while U.S.
consumer sentiment improved. The euro remained higher amid speculation a report
this week will show a pick up in inflation, reducing the need for the European
Central Bank to expand monetary easing.
The
dollar was unchanged at 101.28 yen as of 8:26 a.m. in Tokyo after falling 0.4
percent yesterday, its first drop in four days. It traded at $1.3567 per euro
after sliding 0.4 percent to $1.3572 in New York. Europe’s shared currency bought
137.40 yen from 137.46 yesterday.
The
Labor Department will probably say today jobless claims climbed to 330,000 in
the week through Nov. 23, and the Commerce Department may announce that
bookings for goods meant to last at least three years fell 2 percent in
October, according to Bloomberg News surveys.
A
final reading of the Thomson Reuters/University of Michigan consumer sentiment
index due today may show the gauge was at 73.1 this month, according to the
median estimate of economists surveyed by Bloomberg News. That compares with an
initial figure of 72 and an October level of 73.2.
Fed
policy makers will pare the monthly pace of bond buying, which tends to debase
the U.S. currency to $70 billion at their March 18-19 meeting from the current
pace of $85 billion, according to the median of 32 economist estimates in a
Bloomberg poll this month.
(Source:
Bloomberg)Tuesday, November 26, 2013
WTI Rebounds After Biggest Drop in Week as Supplies Seen Falling
West
Texas Intermediate rebounded after the biggest drop in a week amid speculation
that crude supplies shrank for the first time in more than two months in the
U.S., the world’s biggest oil consumer.
Futures
advanced as much as 0.3 percent in New York after slipping 0.8 percent
yesterday. U.S. crude stockpiles fell 300,000 barrels in the week ended Nov.
22, the first drop in 10 weeks, according to a Bloomberg News survey before an
Energy Information Administration report tomorrow. WTI and Brent in London slid
yesterday after Iran and world powers reached an interim agreement on the
Islamic republic’s nuclear program.
WTI
for January delivery gained as much as 25 cents to $94.34 a barrel in
electronic trading on the New York Mercantile Exchange. It was at $94.33 at
10:40 a.m. Sydney time. The contract declined 75 cents to $94.09 yesterday, the
lowest close since Nov. 20. The volume of all futures traded was about 74
percent below the 100-day average.
Brent
for January settlement fell 5 cents to $111 a barrel on the London-based ICE
Futures Europe exchange yesterday. The European benchmark crude ended the
session at a premium of $16.91 to WTI futures, the widest gap in eight months.
U.S.
gasoline supplies probably climbed 1 million barrels last week, according to
the median estimate of seven analysts in the Bloomberg survey. Distillate
inventories, a category that includes heating oil and diesel, fell 1.03
million.
(Source: Bloomberg)
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