Key trading figures to be released from US department of Energy

Published: 12 June, 2013 11:42

Trade commodity online with bear and bull trade signalsIn the latest round of commodity news, both oil and natural gas futures are forecast to trade throughout the day with a notable amount of volatility while trending towards a moderately bearish outlook.

This is partially caused by the June 11th release that showed a rise in WTI inventories. This is naturally coupled with fears of a stagnation in economic growth in China and the continuing sluggish situation in the European economy.

The prices of oil may be further hampered if we see the dollar trading at higher levels; a classic example of the inverse relationship between crude and this currency. Nonetheless, online traders are waiting for some key figures to be released including inventory figures from the Unites States Department of Energy as well as the concurrent gasoline inventories. As long as the European Union remains fragile and China’s growth outlook is neutral to bearish, we should expect to see moderately low oil prices.

In the precious metals sector, gold prices are predicted to remain steady amidst calmer financial markets. Part of the lack of fluctuation is viewed as arising from a heightened aversion to risk amongst many investors. Additionally, figures released from the European Union have showed that industrial production rose by .4 percent from March to April. This is the third consecutive month that we have seen a rise in output.

However, such a rise is moderate at best and many gold trading analysts are still viewing these figures with a great deal of caution as they consider the flagging domestic economies such as Spain and Greece. One particular variable that will be watched is the continuing fall of bond market prices. This may be seen as a bullish factor for short-term gold positions. Should this condition continue to exist, prices of gold per ounce may react with a moderate rise in the days and weeks ahead.

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