U.S. crude oil prices fell Tuesday following a statement by Kuwait's oil minister that OPEC may consider increasing production output to supplement Libya's disrupted supply.Though crude prices are down from their highest level since September 2008, they have risen above today's early low of under $104 a barrel, according to Reuters.
Investors, however, remain worried about oil supply, awaiting the release of oil inventory data and as the OPEC has yet to come to a definite conclusion. The American Petroleum Institute (API) will issue its weekly inventory report at 4:30PM EST on Tuessday.
Tuesday, March 8, 2011
Gold and Silver at Record High amidst Libya Crisis
Gold hits all time record high ; silver at 31-yr high
Trading sentiments for the yellow metal turned bullish on heavy buying support, following turmoil in Libya and surging crude oil prices. While gold surged Rs 200 to Rs 21,420 per 10 grams on rising seasonal demand, silver rose by Rs 1,250 to Rs 54,450 per kg on heavy buying by stockists and industrial units, amid firm global cues. However, such a rise has hardly made any difference in the enthusiasm of Indian buyers.
Trading sentiments for the yellow metal turned bullish on heavy buying support, following turmoil in Libya and surging crude oil prices. While gold surged Rs 200 to Rs 21,420 per 10 grams on rising seasonal demand, silver rose by Rs 1,250 to Rs 54,450 per kg on heavy buying by stockists and industrial units, amid firm global cues. However, such a rise has hardly made any difference in the enthusiasm of Indian buyers.
Monday, March 7, 2011
The Price of Gold and The Middle East Crisis
Middle East Crisis: What It Means for Gold - Kitco News .Jon Nadler, senior analyst for Kitco Metals, discusses Libya, oil prices, OPEC, and what this means for gold; China, India, inflation, and base metals also discussed. Daniela Cambone reports
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