News from across the continent
29/11/2012 04:46:46 PM
29/11/2012 07:53:18 AM
29/11/2012 07:35:04 AM
28/11/2012 04:58:34 PM
28/11/2012 02:13:40 PM
28/11/2012 08:13:24 AM
28/11/2012 07:40:29 AM
27/11/2012 05:04:06 PM
Publish Date29/11/2012 04:46:46 PM
Today we watch the gold and black gold prices climb up actually in New York mainly as optimism returned on the U.S soil and accordingly throughout the gold and black gold market with on one hand after comments by Speaker of the House John Boehner and President Barack Obama fueled optimism an agreement can be reached in budget talks while that today we cheerful GDP report released by the Bureau of Economic Analysis from the U.S. Commerce Department
If truth be told the country`s third quarter growth domestic product annualized reading have actually expanded at a 2.7 percent pace from a previous estimated pace of 2.0 percent; below the market predictions of 2.8 percent as a narrower trade deficit and gains in inventory overshadowed the past weaker gain in consumer spending.
Plus as we zoom in the index we watch that the major sub-pillars to growth are durable goods, which inclined significantly in the third quarter quarter; climbing up by 8.7 percent along with the gross private investment only that showed a second reading of actually 6.7 percent from a prior much weaker advanced reading of 0.5 percent.
Furthermore this week`s EIA report showed us that the U.S. commercial crude oil inventories decreased by 0.3 million barrels from the previous week. At 374.1 million barrels, U.S. crude oil inventories are well above the upper limit of the average range for this time of year. Total motor gasoline inventories increased by 3.9 million barrels last week and are in the lower half of the average range.
While both finished gasoline inventories and blending components inventories increased last week. Distillate fuel inventories decreased by 0.8 million barrels last week and are well below the lower limit of the average range for this time of year.
Now as a result of cheerful sentiments on one hand we watch gold prices rising to the upside to trade so far around $1726.01 an ounce recording a high of $1728.54 an ounce and a low of $1718.05 an ounce while that on the other hand oil rose as well to reach a low of $88.16 a barrel recording a high of $88.69 per barrel and a low of $86.62 per barrel.
Opinions expressed at ICN.com are those of the individual authors and do not necessarily represent the opinion of ICN.com or its management, shareholders, affiliates and subsidiaries. ICN.com has not verified the accuracy of any claim or statement made by any independent writer and is reserved as their own and ICN.com is not accountable for their input. Any opinions, news, research, analysis, prices or other information contained on this website, by ICN.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. ICN.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. The data contained on this website is not necessarily real-time or accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market prices, meaning prices are indicative and not appropriate for trading purposes. ICN.com does not bear any responsibility for any trading losses you might incur as a result of using this data.
©2012 ICN.COM. ALL RIGHTS RESERVED