Commodity Blog |
| Natural Gas Declines as Inventories Grow Posted: 25 Oct 2012 06:46 PM PDT Futures for natural gas declined as US inventories grew. The Energy Department reported that stockpiles increased by 67 billion cubic feet to 3.843 trillion cubic feet last week, matching analysts’ forecasts. The increase was bigger than Inventories may climb even further as supply is expected to increase. According to Baker Hughes Inc., the number of rigs that was drilling for natural gas in the United States increased by five to 427 last week. Consumption, on the other hand, is not likely to rise as forecasters predict November futures for delivery of natural gas declined as much as 1.6 cents to $3.434 per million British thermal units on NYMEX, reaching the lowest price since October 8. Prices have fallen 6.1 percent from a year ago. |
| Gold, Silver & Palladium Gain, Platinum Stay Weak Posted: 25 Oct 2012 04:19 PM PDT Gold rebounded today, following the Precious metals also strengthened as the dollar retreated on positive macroeconomic data from the United States. Unemployment claims fell from 392,000 to 369,000 last week and durable goods orders climbed 9.9 percent. The housing market showed signs of improvement. Gold went up from $1,706.06 to close at $1,712.78 per troy ounce on COMEX today. Silver was up from $31.79 to $32.07 per ounce and palladium rose from $598.35 to $601.00 per ounce. At the same time, platinum dropped from $1,572.25 to $1,564.30 per ounce. |
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