Dear Investor, GOLD Gold prices rebounded in Asia on Wednesday on physical demand cues after a sharp dip overnight in the U.S. Overnight, expectations that the Federal Reserve will hike interest rates sooner rather than later in 2015 boosted the dollar on Tuesday and sent gold prices falling. The dollar saw broad support on hawkish language in a Federal Reserve Bank of San Francisco report, which hinted that markets may be underestimating the pace at which rates may rise, evidenced by low volatility. OIL Crude oil prices rebounded in Asia on Wednesday after industry data on U.S. stocks showed a sizeable drawdown in the past week. Analysts expect the U.S. Department of Energy to report crude stocks fell 1.114 million barrels last week and distillate stocks rose 571,000 barrels, while gasoline stocks eased 157,000 barrels with the actual figures due later Wednesday. Overnight, oil prices moved off nine-month lows, brushing off weak Chinese import data and Fridays soft U.S. jobs report on hopes weekly supply data will reflect solid demand in the worlds largest consumer of crude. SILVER Silver for December delivery was up 0.70% at $19.053 a troy ounce. Copper futures for December delivery fell 0.05% at $3.105 a pound. A Federal Reserve Bank of San Francisco report released on Monday hinted that markets may be underestimating the pace at which rates may raise, evidenced by low volatility. Recommendations Gold: Neutral Oil: Range Trade Silver: Neutral Regards, MAB
Posted on: Wed, 10 Sep 2014 11:04:09 +0000
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