COMMODITIES

Bullion analysts across the world have only one advice for the investors now, watch out for China and cash in on the latest move by the dragon land to liberalize the gold market. From London to new York, from Mumbai to Dubai, all analysts are now banking on the China market to lift gold as in a recent decision Beijing has shown its intention to promote consumer investment in gold. As part of this, China will let many more banks to import and export gold for consumption and also open gold tradi...

World's largest gold producer China's output for July recorded an increase by 28.31 tones as it finds another gold reserves in Liaoning Province According to China's Industry and Information Technology ministry, country's gold output reached 31.897 tonnes in June.

Oil prices fell on Wednesday after an industry report signaled petroleum inventories in top consumer the United States were headed for a record, following an unexpected sharp increase in crude stocks last week.

Gold gained on Wednesday, within sight of a 1-1/2 month high hit the previous day, with sentiment underpinned by a rise in ETF holdings and persistent worries about the health of the global economy. Investors shrugged off gains in the Nikkei, which could be short-lived because of the yen's strength against the dollar, while most economic data from the United States pointed to a slowdown in the recovery.

Gold prices were slightly up but remained volatile in Asian trade Wednesday as some investors took to profit selling. Gold for immediate delivery was seen trading at $1225. 81 an ounce at 12.00 noon Singapore time while U.S. gold futures for December delivery were steady at $1,227.5 an ounce.

Oil slipped on Monday in choppy trading as weak economic data in Japan and the United States fed worries about the energy demand outlook, outweighing support from a weaker dollar. News that Japan's economy expanded by a mere 0.1 percent in the second quarter, below forecasts, weighed on Asian equities and was followed later by weak U.S. data.

Gold rose to its highest level since early July on Monday, reprising its safe-haven properties, as gloomy Japanese economic data hit shares and stoked investor concern about the pace of global economic recovery.

Russia's severe drought may cut its grain output by 40 percent this year, a leading analyst said on Monday, as Russia's weather service forecast short-lived rains in some areas which could help planting for next year. Leading Russian agricultural analyst SovEcon said it cut its 2010 grain crop forecast to 59.5-63.5 million tons from a previous forecast of 70-75 million tons, a day after Russia's first grain export ban for 11 years kicked in.

Will the gold bull run continue? This is the billion dollar question haunting many investors across the globe. There are conflicting reports from various quarters. A report in Press and Journal says that despite a recent dip, the price of gold has still risen by 25% over the past year, by 175% over five years and by a staggering 340% over 10 years.

Oil edged above $75 a barrel on Monday boosted by a weaker dollar, but concerns about faltering economic recovery in some big oil consuming nations capped gains. The economy of Japan expanded by a mere 0.1 percent in the second quarter. That followed a string of tepid U.S. indicators last week that helped oil prices fall by more than 6 percent, the biggest weekly drop since early July.

Gold rose to its strongest in more than a month on Monday as pessimism about the global economic recovery sparked buying from investors, but selling from jewelers could cap gains. Holdings in the world's largest bullion-backed ETF, SPDR Gold Trust, were unchanged, suggesting that some investors were happy to hold on to bullion after recent U.S. economic data pointed to weakness in the economy.

Oil rose toward $76 on Monday, boosted by a weaker dollar, while a fall in Asian stock markets on news of a slowdown in Japan's economic growth capped gains. The economy of Japan, the world's third-largest oil user, slowed to a crawl in the second quarter, up a smaller-than-expected 0.1 percent, knocking down the Nikkei by about 0.6 percent and adding to concerns about a faltering recovery in some major oil consuming nations.

Gold prices climbed towards $1220 an ounce mark in Asian trade Monday after concerns over economic recovery prompted safe haven buying. Gold for immediate delivery was seen trading at $1219.02 an ounce at 12.00 noon Singapore time while U.S. gold futures for December delivery was at $1,221.1 on the comex division of Nymex.

Copper demand may outstrip supply in 2011 for the first time in four years as China, the world's biggest consumer, sustains purchases and as ore grades decline. The demand-supply gap will be the extent of 200,000 metric tons. Copper, used in pipes, tubes and wires, faces a deepening supply crunch and record prices are highly likely in the next two years, Barclays Capital said in a report on July 27. Prices for immediate delivery will average $7,763 a ton next year as a market shortage widens,...

The United States has all it needs to win the battle against oil addiction on home ground and help lead the rest of the world out of the same addiction. That's the message of NGV Global - the International Association for Natural Gas Vehicles - at an industry summit in Boston, Massachusetts.

Turkmenistan, long slow to respond to foreign efforts to enter its energy sector, is now considering tenders for development of its Caspian offshore hydrocarbon deposits. The bids are yet another sign of the dramatic changes occurring since the death of the country's mercurial autocrat, president for life Saparmurat Niyazov in December 2006.

The Yukon is home to the famous Klondike gold rush of the late 1890's. Prospectors flocked to the area some 120 years ago, following the discovery of gold on Rabbit Creek in the Klondike district by George Carmack, Dawson Charlie and Skookum Jim. When these men returned to their homes in the Pacific Northwest, carrying bags of gold, they encouraged thousands more like them to embark on a journey to the Yukon, hoping they would find riches in the Klondike, too.

Yet another problem hit the gold mining business in South Africa with four illegal miners were killed in a shooting at an abandoned gold mine owned by relatives of former president Nelson Mandela and President Jacob Zuma. Mining industry in South Africa has been reeling under safety problems for the past several months and this latest deaths are bound to create hurdles in the mining sector in South Africa.

Crude oil prices slumped below $80 a barrel again this week as the Federal Reserve and other official forecasters took a dimmer view of the economic recovery. Friday's closing price for the benchmark West Texas Intermediate futures contract of $75.39 a barrel marked a retreat from the contract's short-lived foray outside the $70 to $80 a barrel range it has been trapped in for months. Prices fell nearly 7% from last Friday's close of $80.70 a barrel.

Russia is keen to create a national potash mining champion via the merger of its two biggest companies in the sector and may allow a small stake to be bought by an overseas player, analysts said on Friday.

Gold retreated from the one-month high it hit in earlier trade as the dollar, European equities and U.S. stock futures all lifted from lows after U.S. retail sales and inflation data. It remained supported by overall jitters over the outlook for the global economy, however, as investors spooked by disappointing U.S. economic data turned to the metal as a safe store of value. Spot gold was bid at $1,213.10 an ounce at 9:06 a.m. EDT, against $1,211.20 late in New York on Thursday. Earlier it rose...

Considering the fact that gold prices have gone up so fast in the recent past that almost all investors in gold and gold mining companies' stocks must be thinking that the gold diggers are making huge profits.

Onset of festival season failed to give a boost to gold demand in India this week with almost all jewelers and gold dealers reporting below average sales across all bullion markets in India. Global bullion market has been expecting a huge demand from India this week for the yellow metals as the country celebrates Raksha Bandhan on August 24, an occasion for Indians to buy gold. Moreover, delaers are expected to refurbish their stocks during this week in anticipation of increased sales during th...

Oil jumped by a dollar to above $76 a barrel on Friday in a technical rebound from the steepest three-day decline since mid-May, and as the euro surged after strong second quarter German economic growth.

Gold climbed to a one-month high in Europe on Friday, extending the previous session's rise, as investors spooked by a raft of disappointing U.S. economic data turned to the metal as a safe store of value.

Former global top gold producer, South Africa's output fell 5,3% in volume terms in June compared with the corresponding month last year. In a statement, Statistics SA said production of nongold minerals and total mineral production both fell 4,9% that month compared with the same month last year.

Gold extended gains in Asian trade Friday after concerns over global economic recovery prompted safe haven buying. Gold for immediate delivery was seen trading at $1215.17 an ounce at 12.00 noon Singapore while US Gold for December delivery was at $1,216.73 an ounce on the comex division of Nymex.

A rare 1794 U.S. silver dollar, one of the first minted in the country, sold for $1,207,500 at a Boston auction, the auctioneers said. Bowers and Merena Auctions of California, which held the auction Saturday at the Park Plaza Hotel and Towers in Boston, said the so-called Flowing Hair silver dollar is considered the fourth finest still in existence. Only about 140 are believed to remain in the world, the Boston Globe reported Wednesday.

Monetary Authority of Singapore (MAS) has granted Financial Technologies Group's Singapore Mercantile Exchange (SMX) the final approval yesterday to operate as an international commodity and currency derivatives exchange.