For a year in which many commodities set record-high prices, 2011 has proven disappointing for the market as a whole. Bloomberg notes that for the first time since 2008, the year of the financial crisis in the U.S., commodities as a whole declined in 2011. By 7:26 a.m. on Friday, December 30, Standard & Poor's… Read More.
The global economic outlook has looked bleak in recent months, but a strong showing by the U.S. at the end of the year has helped buoy copper. The foundering industrial metal has dropped roughly one-quarter from its 2011 peak around $4.60 per pound to trade at $3.4265 per pound as of 9:57 a.m. on Friday,… Read More.
Even as crude oil continues to climb in response to uncertainty around Iranian sanctions, the ongoing debt scourge in the euro zone could threaten production at the region's oil refineries, pushing up prices for refined products. Reuters reports that gasoil futures have risen in response to the recent news that Swiss refiner Petroplus, the largest… Read More.
With the U.S. dollar taking a slight dip, the ongoing turmoil in Europe has pushed many investors to the strengthening Japanese yen. With the announcement last week that the European Central Bank lending to euro-zone banks jumped by more than 32 percent to 879 billion euros, investors continued to pull away from the foundering euro,… Read More.
As 2011 comes to a close, it is normal for all of us who participate in these markets to look back and review the trades we’ve made and the opportunities we’ve missed. This arbitrary date which we consider “The New Year” provides many traders a clean slate to start fresh and do things differently. We’ve… Read More.
Wheat is expected to see sizable gains in coming days as several of the world's largest producers struggle through high temperatures and low precipitation. Bloomberg reports that much of the southern Plains region of the U.S., including major wheat growing states like Texas, Oklahoma and Kansas continue to suffer from the droughts that plagued the… Read More.
Oil saw a brief spike on Wednesday, December 28, as Iran threatened to close down the Strait of Hormuz, one of the world's most vital oil passageways. The Associated Press reports that two officials from the Middle Eastern nation mentioned the possibility of closing the strait in response to increasing pressure from the West to… Read More.
Expectations for gold in 2012 span a broad range, but a new survey from the Professional Numismatists Guild expects to see solid gains through next year. The survey included year-end predictions of thirty members of the 56-year-old gold selling association. This group included investors with an average of 35 years of experience in gold and… Read More.
Even as gold closes on an astounding 11th annual increase, the precious metal saw little interest from traders and once again slipped in price. Reuters reports that on Tuesday, December 27, the yellowish metal once again fell below the psychological threshold of $1,600 per troy ounce, reaching as low as $1,591.09 per troy ounce early… Read More.
While the commodities market has seen a noted recovery over the past week, hedge funds have not seen much benefit from the rally, according to Bloomberg. In week ended December 20, data from the Commodity Futures Trading Commission illustrates that positions in 18 of the most important U.S. futures and options markets fell to 454,512… Read More.