Libya
Another Record High for Gold
August 22, 2011
Gold prices are up 1.7% on balance after spiking earlier to $1894.80. At the high, such was 19.4% above its level on July 21. Strong gains were also registered in other precious metal prices overnight. The data calendar today is very thin. Markets are calm so far. Weekend press was filled with speculation about a […] More
Share Prices and Commodity Currencies Higher
March 21, 2011
Few data releases this Monday. In Japan, which was closed for the Vernal holiday, news was mixed. While progress was reported in cooling the damaged nuclear reactor, radiation was discovered in food and water there. Oil prices climbed 1.6% to $102.72 per barrel, as the U.S., France, and Britain engaged in missile strikes in Libya […] More
Concerted Intervention by G7 Lifts Yen
March 18, 2011
G7 finance ministers and central bankers released a joint statement announcing that Japanese authorities had requested and been granted the help of concerted intervention by the United States, Canada, U.K., and ECB to join Japan in providing intervention support today. The statement expresses confidence in the “resilience of the Japanese financial sector and economy” and […] More
Less Anxiety Than on Monday
March 8, 2011
Maybe because its Mardi Gras time, there’s less angst in the air. Share prices, the dollar, and sovereign debt yields are up. Focus of investor worry has swung somewhat back toward Europe’s debt problems from fear about the impact of elevated oil prices. Investors believe Qaddafi will be gone when the fighting stops. Ahead of […] More
Commodities Higher and Dollar Lower on Middle East Worries
March 7, 2011
WTI crude oil advanced 2.0% to $106.55 per barrel, and Brent, which is better correlated with gasoline, is at $116.92 per barrel. Gold rose 0.8% to $1439.40 per ounce, and silver hit another 31-year peak. A Libyan civil war intensified over the weekend, and investors are bracing for Saudi Arabia’s “Day of Rage” on Friday. […] More
Swissy and Yen Up on Oil Crisis
February 24, 2011
Political chaos in the Middle East has spawned an hysterical oil market, with Brent topping $119.70 at one point and West Texas Intermediate eclipsing $103 amid forecasts of a potential spike above $200 per barrel. Reassurances from Saudi officials that 1 million barrels per day of Libyan production can be replenished by Saudi Arabia and […] More
