According to Citi, copper can grow up to 10% over the next 3 to 6 months

Citi are bullish about the copper, expecting industrial metal to rise by as much as 10% over the next few months. Their forecast is based on the fact that Trump continues to signal that it is close to reaching an agreement with China and that the world economy continues to show a moderate recovery. The […]

Central banks with a record interest in gold

The amount of gold purchased by central banks in 2018 has reached a new record for the second consecutive year, according to the World Gold Council (WGC). Net banks bought 651.5 metric tons of gold in 2018, 74% more than in 2017 when 375 tonnes were purchased. According to the WGC, central banks already have […]

Oil rising after US sanctions on Venezuela

WTI crude oil today rose to nearly $ 54 a barrel today after the White House announced new sanctions against Venezuelan state power companies, increasing the risk of supply to the market. The Trump administration imposed sanctions on Petroles de Venezuela SA, which effectively blocked the state’s intention to export oil to the United States. […]

OPEC reached an agreement to reduce yield, oil reacts positively

The meeting between OPEC members reached the end result after two days of persistent talks. The agreement is to reduce oil production, which even exceeds expectations. Cartel and their partners agreed to reduce output by 1.2 million barrels per day, with OPEC alone reducing to 800,000 barrels. Iran went out of negotiations, keeping its current […]

The depreciation of oil implies unpredictable moves on the part of manufacturers

The leaders of the world’s 20 largest economies will meet in the capital of Argentina at the weekend, where they will try to reach consensus on important issues. A week later, the long-awaited meeting between OPEC and outside producers in Vienna will be held on December 6th. The important meeting between OPEC and its partners […]

JP Morgan with a more pessimistic forecast for BRENT in 2019

JP Morgan cut its forecast for European BRENT oil and their forecast is that the average will be $ 73 in 2019. The bank’s previous view was that the average price would be $ 83.50 a barrel. Reducing demand for oil will add to prices, especially since OPEC has increased its yield. Markets are now […]

Whats happen on London Metal Exchange after Trump tariffs

Contrary to all market logic, major industrial metals are preparing to enter a wide range near the peaks. Following the announcement of tariffs by the US authorities, bears prevailed in the industrial metals market and the downward momentum is still in force. If we look at LMEX – the index of basic industrial metals, we […]

Steady growth day for oil, when to expect a reversal?

The strong trend in oil is sustained, supported by another drop in US oil reserves. The increasing US consumption is mainly due to the colder winter that hit the country. Stocks declined by 4.95m. barrels for the second consecutive week, while US production declined with the most since October. The positive effect of the OPEC […]