Commodity Blog |
| Oil Retreats as US Jobless Claims Rise & Fed Ignites Fear Posted: 03 Jan 2013 06:51 PM PST Crude oil declined today as the minutes of the Federal Reserve’s policy meeting indicated that the monetary easing program may end as soon as this year. Traders were worried how the US economy will perform without stimulus. Such worries had a negative impact on fuel prices. Rising jobless claims were not helping the matter either. Claims for unemployment benefits rose from 362,000 to 372,000 last week. The ADP report [...] |
| Gold Erases Gains as Fear Returns to Markets Posted: 03 Jan 2013 04:36 PM PST Gold was rallying on the first trading day of this year, extending its advance to three consecutive sessions. Yet it completely failed on the second day, wiping out the whole rally. Traders were bullish at first as it looked like the threat of the fiscal cliff has gone away, but then they quickly turned their attention to the problem with the debt ceiling. Fear returned to the market and sent the precious metal down. [...] |
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