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Home / Futures Blog / Futures News – Monthly Roundup December 2014

Futures News – Monthly Roundup December 2014

December 31, 2014 by Daniels Trading

This monthly roundup will look at how crude oil looks to end the year, gold's up and down month and why copper seems ready to post its worst year since 2011.

Crude oil continues its decline as the year ends
Crude oil prices continued their long decline as investor concerns of a global oversupply persisted. The commodity began December trading just below $70/barrel. As the month ends, however, crude oil has sunk below $53/barrel and could possibly fall even further as the new year begins.

According to a December 31 report from MarketWatch, on the New York Mercantile Exchange, light, sweet crude futures for delivery in February dropped $1.15, or 2.2 percent, to $52.93 a barrel. Brent crude futures for February delivery on London's ICE Futures exchange dropped $1.85, or 3.2 percent, to $56.05 a barrel.

Analysts have suggested that the supply glut from OPEC, the unexpected U.S. shale boom and weakened Chinese demand for the commodity have all put downward pressure on crude oil prices.

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Gold is on the verge of having both a winning or losing year for the first time since 1999.

Gold's up and down December
Gold started December by posting fairly consistent price increases until it reached a high point on December 9, reaching $1,204.20 at the day's close. From there, the precious metal saw persistent price declines for the rest of the month.

On December 31, Bloomberg reported that gold futures for February delivery fell 0.4 percent to $1,195.50 an ounce at 10:02 a.m. an ounce on the Comex in New York. The metal rose 1.6 percent the day before, briefly erasing declines for the year. This has left gold on the precipice of having either a winning or losing year for the first time since 1999.

"Gold has had several problems," George Gero, a precious metals strategist at RBC Capital Markets in New York, said in a telephone interview with Bloomberg. "The improving U.S. economy, the continued better labor picture, the lack of inflation, very strong stocks and the very strong dollar weighed on gold this year."

"Copper is headed for its worst year since 2011."

Weak Chinese demand sets copper prices up for their worst year since 2011
Copper is headed for its worst year since 2011 due to evidence that China's economy may be experiencing an economic slowdown. China is the world's largest consumer of industrial metals.

Copper prices rose in the beginning of the month, a move that analysts attributed to news that the Chinese central bank would undertake stimulus measures. The gains were short lived, however, when Bloomberg reported that the manufacturing Purchasing Managers' Index for China from HSBC Holdings Plc and Markit Economics came in at 49.6. A number below 50 tends to signal an economic slowdown.

On December 31, Bloomberg reported that copper for delivery in three months on the London Metal Exchange rose 0.2 percent to $6,334.50 a metric ton by 3:04 p.m. in Hong Kong. The metal is expected to have its second month of overall decline and appears poised for a 14 percent decline this year, the second-worst performer among the six main base metals on the LME.

Risk Disclosure

This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

Filed Under: Archived News

About Daniels Trading

Daniels Trading is an independent futures brokerage firm located in the heart of Chicago’s financial district. Established by renowned commodity trader Andy Daniels in 1995, Daniels Trading is built on a culture of trust committed to the firm’s mission of Independence, Objectivity and Reliability.

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Risk Disclosure

This material is conveyed as a solicitation for entering into a derivatives transaction.

This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.

Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.

You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.

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