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Analytics, News, and Forecasts for CFD Markets: raw news — 15-08-2014.
The price of oil rose today, while rising above $ 103 per barrel (Brent), but still remained near 13-month low due to the weakening of the threat reduction of supplies from Iraq. Traders note that oil is going up against the fact that investors have found a dip in the last few days excessive.
"The market is oversold, so expect crude oil purchases. Unresolved issue before the weekend remains a factor of tension between Russia and Ukraine ", - said the head of Mizuho Securities USA Inc. Bob Yoger. Recall, according to the Ministry of Energy of the United States, released on Thursday, the oil production in the country increased in July to 8.5 million barrels per day, with a peak in April 1987. Meanwhile, the US crude stocks rose last week by 1.4 million barrels to 367 million barrels.
Market participants also drew attention to today's reports. The Federal Reserve said that in July, the volume of industrial production in the United States increased by 0.4% compared with June. Economists had expected the index by 0.3%. The June rise in industrial production was revised down from 0.2% to 0.4%. The main factor of growth in July was the jump in car production by 10.1% - the highest since July 2009. Production in the manufacturing industry increased last month by 1% after rising a revised 0.3% in June. The growth rate in July was the best in five months and significantly exceeded the forecast (0.4%). Excluding autos and auto components, industrial production rose by 0.4%.
Investors are also watching the geopolitical situation. As it became known, Ukrainian troops attacked and destroyed "part" of the column of military equipment, which came into the country through the border post Izvarino controlled by pro-Russian rebels. The representative of the Russian Defense Ministry refused to comment on the phone operational.
The cost of the September futures for the American light crude oil WTI (Light Sweet Crude Oil) rose to $ 96.48 per barrel and then declined to $ 97.25 per barrel on the New York Mercantile Exchange (NYMEX).
September futures price for North Sea Brent crude oil mixture rose $ 1.07 to $ 103.07 a barrel on the London exchange ICE Futures Europe.
Gold prices fell sharply today, but in the last few hours were able to restore most of the lost ground amid reports of infiltration of the Russian armed forces in Ukraine. Recall, economic and geopolitical events around the world remains a source of instability and uncertainty.
On the dynamics of trade continue to affect yesterday's data from the World Gold Council, which showed that global demand for gold in the second quarter of 2014 decreased compared to the same period of 2013 by 16% to 963.8 Tonny (30.98 million ounces) in mainly due to the reduction in demand from the jewelry industry in the third. In value terms, demand for gold in the second quarter totaled $ 39.922 billion, a decline of 24% or $ 12.31 billion compared with the same period a year earlier. Demand for gold in China in the second quarter of 2014 fell by half to 208 tons for a total of $ 8.6 billion. In India, demand has also decreased by 39% to 204 tons for a total of $ 8.45 billion. Total supply of gold in the second quarter increased by 10% to 1,078 thousand. tons, including world production - by 13% to 815.3 tons. The World Gold Council expects that the supply of gold will reach its peak in 2014 and is held at this level for the next 4-6 quarters.
Little influenced by today's reports on the United States, which has shown that price indicator in the United States rose slightly in July - it's a sign that inflationary pressures remain modest in the USA economy. Producer price index for final demand, which measures changes in the prices that companies get when they sell goods and services, increased a seasonally adjusted 0.1% last month from June, the Labor Department reported Friday. Excluding volatile categories of food and energy, producer prices rose 0.2%. The result coincided with economists' expectations. Producer prices rose 1.7% in July compared with a year earlier, down from an annual rate of growth of 1.9% in June, 2% in May and 2.1% in April.
Meanwhile, it was reported that hedge fund manager John Paulson, the billionaire has retained its stake in the largest exchange-traded products backed by gold, as the metal prices rose. During the three months ended June 30, Paulson & Co., the biggest investor in the SPDR Gold Trust (GLD), upheld its share of $ 10.23 million. Shares, the government reported yesterday. Rate has not changed the fourth consecutive quarter.
This year, the assets of SPDR Gold Trust fell 0.3 percent to 795.6 metric tons, after falling 41 percent in 2013.
The cost of the September futures contract for gold on COMEX today dropped to $ 1305.90 per ounce.
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