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Analytics, News, and Forecasts for CFD Markets: raw news — 02-10-2012.
Crude fluctuated as gasoline declined for the first time in six days on estimates that a supply shortage in New York Harbor will ease and as the euro strengthened against the dollar.
Prices were little changed as gasoline pared last week’s 14 percent gain. The euro advanced amid speculation Spain will seek a bailout. Oil supplies probably rose for the third time in four weeks through Sept. 28, a Bloomberg survey showed before a government report tomorrow. Spanish Economy Minister Luis de Guindos said yesterday after a meeting with Olli Rehn, the European Union’s economic and monetary affairs commissioner, that the country is studying the ECB bond-buying proposal.
Crude for November delivery slid 27 cents, or 0.3 percent, to $92.21 a barrel at 10:57 a.m. on the New York Mercantile Exchange. Prices are down 6.7 percent this year.
Brent for November settlement fell 26 cents to $111.93 a barrel on the London-based ICE Futures Europe exchange.
Gold futures fell from a 10-month high in New York on renewed concern that demand in Asia will remain slow.
Imports of gold by India, the world’s top buyer, fell 56 percent in the second quarter, according to the World Gold Council. Standard Bank Plc said in a report today that weak bullion demand has been in place since mid-September and is the most severe in more than a year. In the three months ended Sept. 30, prices jumped 11 percent, the most since June 2010, as a third round of monetary stimulus in the U.S. revived demand for the metal as a hedge against future inflation.
Gold futures for December delivery fell 0.4 percent to $1,776.90 an ounce at 10:14 a.m. on the Comex in New York, declining for the second time in three sessions. Yesterday, prices reached $1,794.40, the highest for a most-active contract since Nov. 14.
Change % Change Last
Oil 92.28 +0.09 +0.10%
Gold 1775.70 +1.80 +0.10%
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