The gold prices have made new record levels under the influence of the weaker U.S. dollar and continuing tensions in the Middle East and North Africa. The gold for immediate delivery rose to a record 517.98 dollars an ounce during the trading session in Asia today, before its price to retreat back to 1517 dollars. The acceleration of inflation in the world in recent months has made investors look for precious metals as an alternative to paper currencies. The geopolitical turmoil in Arab countries in recent days also increased the interest in gold and silver. According to market analysts interviewed by the BBC, gold prices will probably go beyond 1520 dollars an ounce in the coming days. Today’s session was the seventh in a row in which the gold price sets a new record. The depreciation of the dollar this year is a major factor pushing up gold prices. Dollar grants for a fifth day against the euro and at 11:50 GMT the pair EUR / USD is quoted at around 1.46 dollars per euro. Since the beginning of today’s session, U.S. currency cheaper money by 0.3 percent against the euro, and earlier today they rate against the Australian dollar fell to a record low of $ 1.0774 per Australian. The Federal Reserve Chairman Ben Bernanke is expected to confirm the commitment of the U.S. central bank to maintain its zero interest rates on Wednesday this week. Moreover, foreign analysts believe that the Federal Reserve will implement fully its second cash injection of $ 600 billion.
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The price of oil is about to finish first week of decline for the last month amid signs of weakening U.S. demand and inconclusive economic data for the country. They failed to counteract concerns about the curtailment of supplies from Libya, under whose influence oil reached its highest price level since September 2008 earlier this week. The U.S. light crude for delivery in April cheaper by almost 1% to 101.73 dollars a barrel in today’s electronic trading on the New York Petroleum Exchange. U.S. economic data yesterday showed that new applications for unemployment benefits increased more than expected, highlighting the poor state of the labor market in the country. The price of oil pressure and the increase in proved reserves of crude oil in the U.S. last week. Analysts told that high crude oil prices are now entirely due to the Middle East conflict and taper off their energy raw materials will become cheaper due to near record large U.S. oil stocks. The lack of more robust signs of expansion in economic activity in the U.S. will also limit the appreciation of light crude oil. Its price fell 1.6 percent yesterday to 102.70 dollars per barrel. Since the beginning of this week, the variety traded in New York has dropped by 2.6 per cent.
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The crude oil from the Brent type rose its price strongly yesterday, raising its price by over 2 per cent. The main reason is the escalation of tensions in Lebanon, prompted by the success of the loyal forces of Muammar Gaddafi. They have managed to regain control of several strategic cities. The Brent oil with delivery in April rose 2.3 percent by the end of yesterday’s regular session in London to 115.60 dollars per barrel. At the same time lightest crude oil traded on the stock exchange in New York fell 64 cents to 104.38 dollars per barrel. In today’s e-commerce Brent rose by another 0.2 percent to 116.20 dollars per barrel and U.S. light sweet crude rising by 0.4 percent to 104.79 dollars per barrel. The difference in the movement of both types of oil due to the geographical proximity of London and European companies to the troubled regions of North Africa and Middle East analysts. For appreciation of Brent oil yesterday and contribute news of bombing in Iraq, aimed at major oil pipeline to Turkey. Because of this incident submission of oil through the pipeline will be suspended for at least three days. In it usually subsides in about 400 thousand barrels per day. Loss of profits can reach millions of dollars.
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The crude oil prices began the new week with a sharp rise, extending its rally from last week. This morning, black gold advanced by 1,7 per cent since the previous price jumped nearly 7 percent. Today the stock exchange in the U.S. lightest crude for delivery in April added 1.7 per cent (1.76 dollar) to 106.18 dollars per barrel. This is the highest price of the raw material from September 2008 until now, since the beginning of the year, oil has appreciated by 16 per cent targets. This appreciation has led the U.S. administration to consider opening the strategic petroleum reserve of the country to counter the sharp appreciation of her. For now, however this news has no impact on the market. The Stock Exchange of London Brent oil also more expensive, adding 1 percent to its price in the first hours of the new trading week. So quotations reached 117.14 dollars, which remains near the highest level this year – U.S. $ 119.79 zabarel registered on 24 February. The analysts quoted by the media, the main reason for the appreciation of the black gold is happening in Libya. African country in a normal atmosphere produces 1.6 million barrels per day, production has contracted by about 1 million barrels. Expectations are that amount to be offset by increased production in Saudi Arabia.
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The crude oil price rose over the past day, as the quotations again turned to 77 dollars a barrel. This gave rise to some positive signs for the Chinese economy and the retreat of the dollar. Oil supported the second consecutive growth indexes in China. He came because data for increased domestic consumption, leading to increased profits of car manufacturers. This gives rise to expectations that demand for fuels in the country will increase. On the New York Stock Exchange yesterday, oil contracts with delivery in August increased its price by 0.7 percent to 76.54 dollars a barrel. The deadline for trading with them expires today, but this morning their price increased by 0.15 percent to 76.65 dollars a barrel. The September futures which are already traded more actively, rose 0.1 per cent to 77 dollars a barrel. This morning the euro managed to advance to 1,2968 EUR / USD, and again towards the attack rate of 1.30 dollars per euro.
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The crude oil prices fall account for a third day because of weak data on consumer confidence in the U.S. and alarming signs of economic growth in China. The U.S. consumer confidence in June dropped heavily to the level of 52.9 points in June, after a month earlier was 62.7 points. This prompted a sharp drop in U.S. stock exchange yesterday, as predictions were for much more limited decrease in the index. On the New York Stock Exchange yesterday, oil contracts with delivery in August fell by 3 percent to 75.94 dollars a barrel. This is the largest decline in raw material from June 4 onwards. The night continued retreat of the quotes this morning and they were 0.4 percent lower at 75.66 dollars a barrel. Thus, the raw material is directed to the first quarterly drop in prices from late 2008 onwards. From late March till now, oil has dropped by 9.4 per cent. Yesterday in London, Brent crude oil from the supply in August fell 2.8 percent to 75.44 dollars a barrel.
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The price of crude oil remains below 77 dollars per barrel, resulting in what is about to record the first week retreat for the last three weeks. The reason for uncertainly movement of quotations gives renewed fears of economic development. Yesterday the price of black gold stabilized after two days of decline, which contributed data on the growth of durable goods orders in the U.S. and the decline in initial unemployment in the country. The crude oil contracts with delivery in August rose 16 cents minimum to 76.51 dollars a barrel. This morning also lost raw materials 0.3 percent to 76.29 dollars per barrel, but the quotations are about to rise for the week of 0.6 per cent. On the London Stock Exchange this morning Brent with delivery in August lost 0.22 percent to 76.30 dollars a barrel. The price started increasing after the fiasco of the US Dollar last month and hard offence over the crude oil prices.
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The crude oil prices sank sharply in the past day, as the quotations lost nearly 3 per cent. The reason for this was lowering the credit ratings of Greece and Portugal, which led to a serious sell off in global markets. The problems of two European countries came to the U.S., leading to decline in the leading stock indexes in the country yesterday. Exchange in New York on Tuesday with oil contracts in June delivery lost 2.1 percent to 82.44 dollars a barrel. The night of quotations continued to retreat, sinking below 82 dollars a barrel, but this time managed to have stabilized at 82.12 dollars a barrel. The reason for this stabilization has become part of the recovery of lost items of the euro, which rose after a strong decline from yesterday. This morning the single currency is exchanged at 1.3211 dollars per euro after yesterday fell below 1,32 EUR / USD. Yesterday in London, Brent crude from oil fell 1.2 percent to 85.78 dollars a barrel.
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The crude oil prices rose sharply yesterday and the stock ended trading at its highest level in 17 months from 86.62 dollars a barrel. Quotations remain near those levels, and during today’s e-commerce in Asia. The economic optimism of investors caused by the increase in employment in the U.S. and activity in the services sector in March, lifted oil prices to the highest level since October 2008 so far yesterday on the New York Petroleum Exchange. Rising prices reflect the expectations of market participants that demand for energy raw materials will increase the recovery of U.S. economy. U.S. light crude for delivery in May rose 1.75 dollars to finish yesterday’s session at a level of 86.62 dollars a barrel. During today’s e-commerce in Asia oil futures slightly cheaper by 16 cents to 86.46 dollars a barrel. Since early this year their price has risen by 9 per cent. Tomorrow the weekly report by the Ministry of Energy of the United States will show whether crude oil reserves of the country have increased for the tenth consecutive week. Meanwhile, Brent crude oil traded for 85.60 dollars a barrel in today’s electronic trading on the London oil market by reducing its price by 28 cents compared to yesterday’s closing level.
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The price of crude oil remains near the level of 79 dollars a barrel during electronic trading today in Asia in anticipation of the latest data for this year the Ministry of Energy in the United States. Economists expect that stocks of crude oil, the largest economy in the world fell for the fourth consecutive week in the seven days to December 23rd. Estimates are for a decrease in U.S. oil reserves of 1,85 million barrels once during the previous week, they fell more than expected by 4,9 million barrels. U.S. light crude for delivery in February, slightly more expensive by 0.3 percent to 79.08 dollars per barrel in today’s times of electronic trading on the New York oil exchange. Crude Oil futures ended Tuesday’s session in a price increase of 10 cents to 78.87 dollars per barrel. This is their highest price level since mid-November date. For the past five trading sessions oil has risen by nearly 9 percent, and the beginning of this year the price of energy raw materials has risen by 77 per cent. Within the past decade it has increased threefold, according to Bloomberg. Appreciation of the dollar in December, however, act as a brake on growth in the oil price.
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