{"id":19837,"date":"2011-02-28T07:45:07","date_gmt":"2011-02-28T12:45:07","guid":{"rendered":"http:\/\/countingpips.com\/fx\/?p=19837"},"modified":"2011-02-28T07:45:07","modified_gmt":"2011-02-28T12:45:07","slug":"weekly-commodity-outlook","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/02\/28\/weekly-commodity-outlook\/","title":{"rendered":"Weekly Commodity Outlook"},"content":{"rendered":"

By Anton Eljwizat<\/strong><\/p>\n

Crude oil<\/strong><\/p>\n

Crude oil <\/a>rose, capping the biggest weekly gain in two years, on concern that the turmoil in Libya will spread to Middle East petroleum producers. Grains jumped, driving a measure of raw materials up to a record.<\/p>\n

The standoff between an increasingly isolated Libyan strongman Muammar Gaddafi and rebel factions now in control of oil-rich eastern Libya has cut output in the world\u2019s No. 12 crude exporter by at least 25%, or 400,000 barrels a day.<\/p>\n

Last week, oil jumped 14%, the most since late February 2009. The price has climbed 25% in the past 12 months.<\/p>\n

As for the week ahead, traders\u2019 attention should be devoted to all developments from the Middle East, as this is likely to continue to play a leading role in commodities trading. Traders should take under consideration that as long as the unrest in the region remain, crude prices might be further supported.<\/p>\n

Gold<\/strong><\/p>\n

Spot gold <\/a>inched up on Monday, heading for its best month since last August, boosted by fears over the deteriorating situation in Libya and spreading violence in the region, supported by rising oil prices.
\nPolitical turmoil in the region has been supportive of gold prices in recent weeks. Gold was poised to stage a monthly gain of 6%, its best since last August.<\/p>\n

Spot gold inched up 0.3% to $1,416 an ounce, extending gains from the previous session.
\nScenes in Libya, where protesters intensified their campaign to force Muammar Qadafi to quit, have encouraged some safe-haven buying of gold, although this support is unlikely to last long.<\/p>\n

Forex Market Analysis provided by ForexYard. <\/a><\/strong><\/em>
\n<\/a><\/strong><\/em><\/p>\n

\u00a9 2006 by FxYard Ltd<\/p>\n

Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.<\/p>\n","protected":false},"excerpt":{"rendered":"

Crude oil rose, capping the biggest weekly gain in two years, on concern that the turmoil in Libya will spread to Middle East petroleum producers. Grains jumped, driving a measure of raw materials up to a record.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-19837","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/19837","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=19837"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/19837\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=19837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=19837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=19837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}