Archive for the ‘Stocks’ Category

Gold Hits 4-week High as Cenbank Meets and Brexit Vote Shakes Stocks

Monday, June 13th, 2016

Gold hit its highest since mid-May today, Monday (June 13), driven higher by a retreat of the dollar and as stocks were knocked by rising risk aversion before key central bank meetings this week and a June 23 vote on whether Britain should leave the European Union.

The pound fell to a two-month low against the dollar, pushing gold denominated in sterling to its highest in nearly three years at 909.83 pounds an ounce, up 1.9 per cent.

Spot gold was up 0.8 per cent at $1,283.66 an ounce at 09.40 GMT, off an earlier peak of $1,284.50. U.S. gold futures for August delivery were up $11.10 an ounce at $1,287.00.

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Oil and metal stocks open higher

Tuesday, August 17th, 2010

Brent and crude oil prices climbed to $75.6 early Tuesday morning, while both gold (+0.73% to $1225.50) and silver (+0.38 to 18.49) also traded higher.

Commodity stocks on FTSE 100 rises

Scottish oil company, Cairn Energy (LON:CNE), rose 5.32 % to £493.20 after announcingsale of their stake in London Stock Exchange-listed Vedanta Resources Plc.

Other commodity stocks rising early Tuesday morning include African Barrick Gold (LON:ABG), mining companies Xstrata (LON:XTA) and Kazakhmys (LON:KAZ).

Keep an eye on economic data from US housing today, which can impact commodity prices. (more…)

BP – Worth to trade or not?

Monday, June 21st, 2010

British Petroleum, BP Plc, has been in the news for oil spill over the last weeks. It’s said on Monday that the massive oil spill in the Gulf of Mexico cost BP $2 billion, so far.. At the same time, the share price for BP have fallen around 50 % – from £60/share to £31.

BP – A risky commodity stock

If you are about to invest in commodities, or suggestion is to rather do it in the market itself. BP is very risky at the moment, and as Safe Heaven mention, BP can fall into single digits if it breaks through the current fibonacci support levels. Even though the stock might eventuelly recover, the damage fund they set up with $20 billion might not be enought.

So check out or commodity brokers if you want to trade oil, gold or any other commodity.