Gold Silver Reports ~ Crude oil may trade with positive bias as EIA inventory data to give further direction to the prices. Overall it can move in range of 1850- 2000.
Commodity News
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Crude Oil Dumps; Major Indexes Seesaw
Gold Silver Reports ~ Today was repeat of yesterday’s session in that markets sold off most of the day but managed a better recovery during the last hour by closing only slightly below the unchanged line. Apparently the bulls are still alive and putting up a fight during these tug-of-war sessions.
Crude Oil Slip 8 Percent, Global Demand Reports
Gold Silver Reports ~ Crude Oil prices slid for a fourth straight session on Tuesday and teetered close to 12-1/2-year lows hit last month, after weak demand forecasts from the U.S. government and the western world’s energy watchdog, while weak equities also pressured prices.
Gold Near Eight Month High on Safe Haven Demand
Gold Silver Reports ~ Gold was holding near 8~month high on Wednesday as risk aversion sent investors to the safe-haven asset amid a tumble in global stock markets and concerns over the global economy.
India Gold Kiss Record Highs as Demand Falters
Gold Silver Reports ~ Indian gold traders say they are struggling to draw buyers despite offering record discounts over rallying international prices, as consumers wait to see if rates can fall further after the federal budget this month.
Goldman Sachs; No Believer in Gold Rally
Goldman Sachs Group Inc. is no believer in gold’s rally, predicting losses over the coming year as the Federal Reserve increases U.S. interest rates no fewer than three times. Futures dropped.
Global Crude Oil Demand Growth is Likely to Ease Back
Gold Silver Reports ~ Global oil demand growth is likely to ease back considerably to 1.2 mb/d in 2016 due to notable slowdowns in Europe, China and the United States, according to the newly released IEA Oil Market Report (OMR) for February.
All Eye Focus This Week is on FED Chair Janet Yellen
Neal Bhai Reports ~ The focus this week is on FED Chair Janet Yellen’s testimony before the Committee on Financial Services and Committee on Banking, Housing, and Urban Affairs on the 10th and 11th of February.
Gold MCX Trading Rang 28080-28730, Silver MCX 36060-37670
Gold Silver Reports ~ MCX Gold Silver counter may witness some profit~booking at higher levels as rates have raced higher in quick span of time amid safe haven buying.
Crude Oil Rates Supply Overhang Concerns
Gold Silver Reports ~ Crude Oil rates plunged steeply on Monday as supply overhang concerns grew after a Saudi-Venezuela meeting at the weekend showed few signs of coordination to boost prices.