Due to the recent instability in the Middle East and North Africa, have a variety of commodities strong, but with the developments, the market fears the high may be eased.
warming as risk aversion, COMEX gold futures rose 2.1% last week after a week to maintain strength, rose 1.5% in the week and break $ 1,400, this is the first time since the New Year successive gold two weeks or more than 1%. Hedging demand is high, investors have become so sought after silver hedge species, but much stronger than gold, silver rally, 1 since the end of five consecutive weeks of silver soaring, the cumulative increase more than twenty percent, and hit a 31-year high.
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At the same time, crude oil prices have also soared, as investors worried that turmoil in the Libyan oil supply shortage. Sudden surge in oil prices this week, more than 10 U.S. dollars, or nearly 14% of the total, on Thursday hit a two-year intraday high of more. Jin Yicheng Brent crude oil rose this week, the maximum rose to nearly 120 dollars a barrel. International Energy Agency (IEA) 25 released the report, the Libyan tensions caused by 85 million barrels of crude oil per day, and 24, the data in order to reduce the estimated 500,000 to 75 million barrels.
However, after the Saudi oil minister and the IEA have the necessary time position will be taken to curb oil prices, U.S. Treasury secretary also reminded the market of Petroleum Exporting Countries (OPEC) and other countries are still excess capacity facts. According to The IEA increased production base to fill gaps in projected oil production.
appear in addition to changes in the supply side of crude oil itself, the United States, the European Union and the Council have announced sanctions against Libya. If Libya can be an effective control of the situation, the market fears will be eased, the reasons for soaring oil prices may continue to be less full. Saudi oil minister, said in 22, oil supply and no real problems, supporting the continued high price of oil is more emotional concerns. In fact, oil prices have edged down 24, some investors choose to high profits.
after the rally in gold prices soaring in part by the impact, if crude oil prices, gold prices have callback risk. Rebound in the price of gold the past two weeks, the world's largest gold ETF SPDR Gold Shaes the pace of reduction has not stopped, accumulated two weeks of the fund holdings of more than 1%.
some analysts pointed out, the use of geo-political risk is the recent speculation in the grounds of crude oil, silver, and gold prices soaring one of the reasons, if such tensions eased, the performance of commodity prices will also be re- back to the level consistent with fundamentals.
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