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Analytics, News, and Forecasts for CFD Markets: raw news — 20-09-2013.
West Texas
Intermediate dropped a second day as
Futures
fell as much as 1 percent and are headed for a second weekly decline. Libyan
output yesterday was more than five times higher than earlier this month,
according to its oil ministry.
Libyan oil
output is set to increase to 800,000 barrels a day, Ibrahim Al Awami, director
of measurement at the oil ministry, said by phone from
Oil prices
will drop further next week after a U.S.-Russian accord reduced the risk of an
American attack on
WTI crude
for October delivery, which expires today, fell 69 cents, or 0.6 percent, to
$105.70 a barrel at 11:21 a.m. on the New York Mercantile Exchange. Prices are
down 2.3 percent this week. The more-actively traded November contract dropped
47 cents, or 0.4 percent, to $105.39. The volume of all futures traded was
about 19 percent below the 100-day average.
Brent oil
for November settlement rose 46 cents, 0.4 percent, to $109.22 a barrel on the
London-based ICE Futures Europe exchange. Futures are down 3.2 percent this
week. Volume was 24 percent lower than the 100-day average. The European
benchmark traded at a $3.99 premium to WTI, up from $2.90 at yesterday’s close.
Gold prices decline after the previous two sessions grew by more than 5% after the Fed's decision to maintain the program of bond purchases in the existing volumes.
As a result of bond purchases is pumping liquidity of the financial system , which increases the risk of accelerating inflation and tends to weaken the dollar. Some investors view gold as a hedge against the risk of both of these scenarios.
Gold prices were under pressure for most of this year , while investors believed that the Fed may soon shut down its bond buying program . As of the close of trading on the COMEX on Wednesday , gold futures fell by 22 % since the beginning of 2013.
According to investors and analysts, the Fed's decision is likely to mean that observed in this year's fall in gold prices will pause as market participants revise their inflation forecasts .
Although Fed Chairman Ben Bernanke said Wednesday that for the reduction of asset purchases "there is no fixed calendar," it is expected that the central bank in the next 12 months will begin to phase out its program to purchase bonds worth 85 billion dollars a month. When this happens , gold prices are likely to decline , analysts say.
The cost of the October gold futures on COMEX today dropped to $ 1332.00 per ounce.
GOLD 1,365.50 57.80 4.42%
OIL (WTI) 106.21 -1.86 -1.72%
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