Commodity Blog |
| Posted: 15 Feb 2013 06:54 PM PST Gold fell on the last trading session of this week, going intraday below the $1,600 per ounce level for the first time since August. The positive macroeconomic data reduced demand for the metal as a safe haven, yet the global economy does not look healthy enough to spur need for gold as an inflation hedge. New York manufacturing unexpectedly returned to growth in January as the Empire State Index rose from -7.8 to 10. The positive data [...] |
| Macroeconomic Indicators Hurt Prospects for Crude Posted: 15 Feb 2013 02:54 PM PST Crude oil retreated today as some macroeconomic indicators from the United States and the eurozone made investors worry about demand for fuel. US industrial production unexpectedly fell 0.1 percent in January. Eurozone imports dropped as much as 3 percent in December from November. Technicians said that crude failed to breach the important resistance level of $98 per barrel. The commodity is not in a downtrend yet, but clearly has lost [...] |
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