Wednesday, October 22, 2008

Referring to the United States and rising gold prices below strong support under the track



10 Ri Yue 21 (Tuesday) gold (166, -8.71, -5.00%) down low shock. The highest intraday price the day of 803.50 U.S. dollars / ounce, the lowest test the 765.35 U.S. dollars / ounce to close at 771.40 U.S. dollars / ounce, compared to the previous or about 25 U.S. dollars, Japan with K Line was up and down a long line of great impact Line. International crude oil fell sharply Tuesday Chonggao down. The highest intraday price hit 75.69 U.S. dollars / barrel, the lowest lowered to 69.77 U.S. dollars / barrel, down 3.36 U.S. dollars, closed at 70.89 U.S. dollars / barrel. K Line on display, NYMEX-11-month crude closed yesterday at the video taken off the line of a small head Line. Asia City time yesterday, the U.S. dollar in early trading after the stable after a sharp jump in oil prices sharply lower; Europe City time, the dollar continued to rise unilateral posture, continue to test the oil pressure, the average intraday fall 5; New York City time, the decline in oil prices take Europe further down, and for a time below 70 U.S. dollars mark, after bargain hunting in support of the recovery of the mark, but Line is still closed. Information on the surface, the oil minister of Ecuador on the 20th that OPEC needs to cut crude oil output of around 500,000 barrels per day. Ecuador is expected to be scheduled for 24 OPEC meeting to promote production. OPEC will be meeting in advance of its Oct. 24 to be held to discuss the global economic slowdown on oil markets. Khalil said Monday President of the OPEC, non-OPEC oil producing countries should also be cut in order to help stabilize oil prices; oil prices at 70-90 U.S. dollars / barrel between "will all help"; if oil prices fell below 70 U.S. dollars / barrel, many oil projects "will be postponed or canceled." Libyan oil minister said Monday, OPEC is expected to cut the rate to more than 1,000,000 barrels / day; production 1,000,000 barrels / day sufficient to restore market balance of supply and demand; oppose OPEC output in stages. Qatar Oil Minister Attiyah said Monday that he believed that OPEC will be held on October 24 in Vienna at a meeting decided to cut production. At the same time, Iran's oil minister said Tuesday Nuosa Li, a drop in demand may result in OPEC production 2-2.5 million barrels / day, in the long term drop in oil prices will curb oil infrastructure investment, in the final consumer. Rogers well-known investors Monday that the decline in supply, demand and the increased settlement of the current economic slowdown related to the stimulus plan will ensure that the commodity bull market for at least 10 years. The countries in order to help ease the credit crisis to the mass market into the capital, it will eventually lead to price increases and inflation. Comprehensive analysis, OPEC production cuts good news in the past, investors in the economic outlook for demand for crude oil, as well as concerns once again prevail, leading to the resumption of the decline of crude oil today. At present, oil prices have been below average on the 5th, and by the end of September since the formation of the downward trend line still intact, suggesting that the medium-term trend of oil should not be too optimistic.

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