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