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Analytics, News, and Forecasts for CFD Markets: raw news — 09-01-2013.
Oil
declined after a government report showed that
Futures
fell after the Department of Energy said crude stockpiles rose 1.31 million
barrels to 361.3 million last week. A 2 million-barrel gain was the median
estimate of analysts surveyed by Bloomberg. Gasoline and distillate inventories
also rose. Crude output climbed to 7 million barrels a day, the most since
1993. The
Increasing
output in the
Crude
imports rose 18 percent to 8.34 million barrels a day, the first gain in four
weeks. Fuel imports increased 7.8 percent to 2.09 million barrels a day last
week.
Gasoline
inventories climbed 7.41 million barrels to 233.1 million, versus an expected
gain of 2.5 million. Distillate inventories increased 6.78 million barrels to
130.7 million, versus a forecast advance of 1.9 million.
Refineries
operated at 89.1 percent of capacity last week, the report showed, down from
90.4 percent the previous week.
The Energy
Department raised its oil-price projections for 2013 yesterday and forecast
that global consumption will expand to a record. WTI will average $89.54 a
barrel, up 1.3 percent from the December estimate of $88.38, it said in the
monthly Short-Term Energy Outlook. The
Crude oil
for February delivery fell to $92.68 a barrel on the New York Mercantile Exchange.
The contract traded at $93.45 before the release of the inventory report at
10:30 a.m. in
Brent oil
for February settlement slipped 58 cents, or 0.5 percent, to $111.36 a barrel
on the London-based ICE Futures Europe exchange. The North Sea crude traded at
an $18.44 premium to the
Gold prices traded in a narrow range as investors await the outcome of the meetings of central banks of the euro area and Japan.
Last week, gold has fallen in price to a minimum of more than four months below $ 1.630 an ounce, as investors spooked minutes of the last meeting of the Federal Reserve, who showed concern about the side effects of "quantitative easing."
In 2012, gold has risen in price the 12th consecutive year by the central banks of the U.S. stimulus package and Europe. According to analysts, the Bank of Japan in January will consider further easing of policy, and the European Central Bank will not change interest rates at a meeting on Thursday.
Support prices may have increased demand in the physical market of Asia, especially in the largest consumer of gold - China and India. Premiums for delivery to India on Tuesday rose to its highest level in two months, as traders rush to place orders before the expected increase in import duties.
Yesterday, at the beginning of today's session, the price of gold prices rose amid signs that the buyers in China are increasing their investment in the precious metal on the eve of the Lunar New Year.
The amount of physical gold traded on the Shanghai gold market (Shanghai Gold Exchange), the main venue for trading this metal in China, jumped to record high this week. Trading volume on Monday exceeded 19,500 pounds, which is more than three times higher than the average of previous 30 sessions, according to the site SGE.
This was proof that the Chinese buyers took advantage has declined in recent years prices for gold purchases before the holidays. In addition, imports of gold to mainland China from Hong Kong reached a 7-month high in November, said the bank. This data is mostly considered an indicator of changes in demand for gold in the country. November data are the latest available at the moment.
Gold prices were down for the sixth session in a row, falling over this time by 6%. Growth of quotations of futures on Tuesday broke the 3-day price drop.
Buyers in China, tend to increase portfolios before the Lunar New Year, the celebration which will begin on February 10 and will continue for a week, during which markets will be closed.
February futures price of gold on COMEX today rose to 1666.00 dollars an ounce, and then decreased to the level of 1653.70 dollars per ounce.
Change % Change Last
Gold 1,659 +13 +0.77%
Oil 93.16 -0.03 -0.03%00:00Australia HIA New Home Sales, m/mNovember +3.4%+4.7%
00:30Australia Retail sales (MoM)November 0.0%+0.3%-0.1%
00:30Australia Retail Sales Y/YNovember +3.1%
02:00China Trade Balance, blnDecember 19.620.1
02:00China New LoansDecember 523550
09:30United Kingdom Trade in goodsNovember -9.5-9.0
10:00Eurozone GDP (QoQ)(finally)Quarter III -0.1%-0.1%
10:00Eurozone GDP (YoY)(finally)Quarter III -0.6%
11:00Germany Industrial Production s.a. (MoM)November -2.6%+1.1%
11:00Germany Industrial Production (YoY)November -3.7%-2.9%
13:15Canada Housing StartsDecember 196198
15:30U.S. Crude Oil Inventories- -11.1
18:00U.S. USA 10-y Bond Auction-
21:45New Zealand Trade BalanceNovember -718-670
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