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CRUDE OIL NEWS

WTI Crude Oil Speculators Sharply Boost Net Bullish Positions

Last Update 10:00 AM | 15.05.2017

Futures market traders and large oil speculators sharply raised their overall bullish bets in WTI oil futures last week as speculators cut back on their bearish positions, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday. The weekly commitment of traders report summarizes the total trader positions for open contracts in the futures trading markets.

GOLD NEWS

Gold Holds Decline as Central Bank Meetings in Focus This Week

Last Update 10:00 AM | 15.05.2017

Gold held a drop ahead of central bank policy meetings in the U.S. and Japan this week, with investors set to parse any signals from the Federal Reserve for the course of policy over the remainder of the year. Bullion for immediate delivery was at $1,233.84 an ounce on Friday. Gold has rallied in 2016 on surging demand for haven assets as concerns over the global economy give pause to the Fed’s policy-tightening path while the Bank of Japan has taken steps to boost growth.

SILVER NEWS

Silver! Metals Stocks Are Not Done Going Up

Last Update 10:00 AM | 15.05.2017

Since the early 1970s, the public has been captivated by silver and for a good reason. In the '70s commodity boom, gold went from $100/oz to over $800 or an eight-fold increase. Silver on the other hand went from around $1.60/oz to an eye-popping $50/oz. Precious metals have been in a funk since late 2011 as global turmoil and tensions have failed to stir the bull, and inflation fears have been replaced with deflation realities.

TOLA GOLD NEWS

Govt raises gold-buying price

Last Update 10:00 AM | 15.05.2017

GOVERNMENT has raised its gold-buying price and reduced royalty charges for artisanal miners from 5% to 1% as part of efforts to discourage the smuggling of the precious mineral outside the country.

EURUSD NEWS

EUR/USD Looks To Weaken Further On Bear Pressure

Last Update 10:00 AM | 15.05.2017

With EUR/USD closing lower the past week, further weakness is envisaged in the new week. Support lies at the 1.1150 level. Further down, support comes in at the 1.1100 level where a violation will aim at the 1.1050 level. A break of here will target the 1.1000 level. Its weekly RSI is bearish and pointing lower supporting this view. Conversely, on the upside, resistance comes in at 1.1300 level with a cut through here opening the door for more upside towards the 1.1350 level.

SHARES NEWS

Range-bound KSE-100 index sheds 27 points

Last Update 10:00 AM | 15.05.2017

The Pakistan stock market remained range-bound throughout the week as an uncertain political climate resulted in volatility in the benchmark KSE-100 index, which shed 27 points (0.1%) to close at 33,739 at end of trading on Thursday. Politics was the major driving force at the bourse this week as government remained under pressure due to the Panama Leaks controversy. The rise in oil prices provided a boost to the market.

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