12/22/2011 06:18:00 PM
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Gold Updates
Investment demand for the yellow metal remained unchanged yesterday at SPDR Gold ETF. Ireland’s European benefactors should take steps to create a firewall around the nation, as its prospects remain “fragile” amid the escalating euro-region debt crisis, the International Monetary Fund said yesterday. The crisis may hamper Irish economic growth, increase the cost of re-entering bond markets and make it harder for the country’s banks to sell off assets.
Silver Updates
COMEX Silver Mar futures also surged along with Gold futures and surged sharply by 2.29 percent to $29.536 per troy ounce from $28.874 per troy ounce. Investment demand for the white metal at iShares Silver Trust also remained unchanged yesterday. Silver is very consolidate in current session, no major support for this.
Crude Updates
Data release early morning today showed that U.S. American Petroleum Institute said crude inventories declined 4.57 million barrels to 330 million barrels for the week ended 16th Dec, 2011 to the lowest level in almost two years. Imports of liquefied natural gas jumped 21 percent to their second highest ever
however, as gas fired power generation plugged the gap left by the shutdown of most nuclear reactors after the March earthquake.
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