Review precious metals market for 17.08.09

Dynamics

On Monday 17 August, at the tender precious metals have shown downward trend due to the strengthening of the dollar on FOREX market because of the fall of appetite for risk among market participants, as well as falling stock prices at stock sites worldwide.

As a result of trades on the COMEX, division New York commodity exchange (NYMEX), quotes on gold fell by 12.90 to 935.80 dollars per troy ounce, the price of silver fell 75 cents to 13.97 dollars per ounce.

Causes

On Monday 17 August, bids for the precious metals market showed descending trend. The background for this will strengthen the U.S. dollar in the currency market FOREX. The fall of China's Shanghai Composite stock index to 5.8% (the largest in percentage terms the decline during the period of 2009) contributed to the strengthening of the reluctance to risk that, in tandem with falling stock prices and fix the profit of foreign funds increased the pressure on the precious metals market.

news can note the message the American company Dana Resources for the purchase of the Coyote gold in the north of Peru, who planned to further develop to the level of the mine with a career method of ore extraction. Resources Coyote comprise 1.17 million troy ounces of gold. Dana plans to keep the project on quarrying at a maximum depth of 50 meters, with production costs estimated at $ 400 /ounce.

What to expect?

The main positive factor for the precious metals market is the technical picture, which shows us output indicators from the pereprodannosti. For the benefit of growth is also said rumors that the fixation of the market gains on short positions virtually finished.

What is fear?

negative on the market of precious metals coming from the neighboring markets and the strengthening of the dollar in the currency market FOREX, but also from falling stock prices at stock sites worldwide.

Overview of the oil market for 17.08.09

Dynamics

Quotations in the oil market on Monday 17 August, showed downward trends due to the strengthening of the dollar against most currencies, as well as on the background of negative sentiment on the stock sites and adjacent markets.

At the New York Stock Exchange NYMEH cost of the September futures for U.S. light crude oil fell to 0.76 dollars and its price, therefore, amounted to 66.75 dollar per barrel.

At the ISE Stock Exchange in London, the cost of oil brand Brent fell to 70.54 dollars per barrel.

Causes

On Monday, August 17, quotes in the market of black gold fell in value due to the sharp decline in equity prices in the U.S. stock markets and rising American currency on fears of investors about the slow process of economic recovery, leading to increased sales of traders commodity contracts .

news worth noting that Tullow Ghana Ltd. signed a contract with the company Expro International Group Plc in the service of deep-water oil field Jubilee. At the same time approved a contract between MODEC Offshore Production Systems Pte. Ltd. (Singapore) and the Jurong Shipyard Pte. Ltd. to build an integrated mining vessel (FPSO) for the Jubilee. Jurong Shipyard - a subsidiary of Sembcorp Marine - converted drilling vessel Inc. VLCC to FPSO Kwame Nkrumah for installation on the Jubilee, on the sea depth 1100 m FPSO will be able to produce over 120 thousand barrels of oil a day to pump more than 230 thousand barrels of water per day, commercial traffic to pass in the 160 million cubic meters. feet of produced gas per day and store 1.6 million barrels of oil.

What to expect?

The main positive factors in the market of black gold is the revival of positive sentiment in the stock pads, and the possible fall of the dollar, that will certainly positively affect the quotes of oil. Also important message of tropical storms, imminent on the shores of Florida, directly to the main oil-producing platforms.

What is fear?

negative side for the black gold were relatively poor economic data from the United States, which revived concerns among market participants about the rapid restoration of the world and forced investors to record profits.

non-ferrous metals market review for 17.08.09

Dynamics

On Monday 17 August, at the tender quotes for non-ferrous metals have shown top-down trend against the background of negative sentiment on the stock sites, as well as the strengthening dollar on foreign currency market FOREX.

At the London Metal Exchange LME aluminum closed at a price of 1909 dollars per ton.

Copper at the close of the Exchange cost 6095 dollars per ton.

Nickel in the tender price was 18950 dollars per ton.

Causes

On Monday 17 August, non-ferrous metal market showed downward trends. The main engines of the adverse movements were pessimistic mood among investors, due to falling consumer confidence in the United States and expectations of rising unemployment in the developed countries that have prevailed in the neighboring markets, as well as on the U.S. stock market. Published economic makrostatistika supported the U.S. currency, thereby increasing pressure on the market of non-ferrous metals.

news worth noting a statement BHP Billiton that the company remains committed to nickel business, despite the fact that the new nickel production capacity in the world have the potential to contain nickel prices. The closure of BHP nickel project and the sale of the plant Ravenstorp Yabulu generated rumors that the company also intends to sell its Nickel West project, but BHP hold for its nickel assets. Production of nickel pig iron in China has changed the market, and a significant amount of installed capacity in this country can be put into operation after the increase in demand for the metal, which may limit increases in the price of nickel.

What to expect?

positive factors in the market of non-ferrous metals at the moment is the technical picture is showing the output indicators from the pereprodannosti, and began falling U.S. dollar against most currencies in the market FOREX. Do not lose sight of the Chinese government statement that it expects stronger influence on world prices of non-ferrous metals.

What is fear?

negative factors in the market of non-ferrous metals were the negative economic data and content as well as stocks of non-ferrous metals, monitored exchanges, which continue to grow. The mood on the fixation of the profit is still present in the market.

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