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Analytics, News, and Forecasts for CFD Markets: raw news — 29-10-2013.
West Texas
Intermediate crude fell for the first time in four days on estimates that
inventories rose last week to a four-month high in the U.S., the world’s
biggest oil-consuming country.
Futures
dropped as much as 0.9 percent. Stockpiles climbed for a sixth week in the
seven days ended Oct. 25, according to a Bloomberg survey before a report from
the Energy Information Administration tomorrow. Goldman Sachs Group Inc. cut
its 2013 estimate for production from the Organization of Petroleum Exporting
Countries, citing supply constraints in Libya.
WTI for
December delivery slid 45 cents, or 0.5 percent, to $98.23 a barrel at 9:33
a.m. on the New York Mercantile Exchange. The volume of all futures traded was
about 50 percent less than the 100-day average. Prices are 4 percent
lower so far in October, poised for a second monthly loss.
Brent for December settlement dropped 54 cents, or 0.5 percent, to $109.07 a barrel on the London-based ICE Futures Europe exchange. Volume was 9.6 percent below the 100-day average. The European benchmark crude was at a premium of $10.84 to WTI, compared with $10.93 yesterday.
Gold prices are adjusted to five-week highs in anticipation of the Fed meeting . Investors have decided to refrain from taking action before a meeting of the U.S. Federal Reserve , scheduled for this week.
Wednesday should be completed a two-day meeting of the central bank of the USA , and traders will carefully analyze the Fed's statement , published on its results . Many investors expect the Fed officials postponed curtailing its program to stimulate the economy until next year and will use it as a tool that can reverse the damage caused by the 16-day suspension of the U.S. federal government.
However, futures prices for gold is still trading lower by 19 % this year . This is due to the fact that investors expect the Fed soon to minimize the program to stimulate the economy .
The cost of the December gold futures on COMEX today dropped to $ 1339.80 per ounce.
GOLD 1,352.00 -0.40 -0.03%
OIL (WTI) 98.61 0.76 0.78%
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