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Spread Betting Commodities Trading |
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An in-depth look at Spread Betting Commodities Trading.
Also see today's Spread Betting Commodities Trading news.
Spread Betting on Commodities - 5 August 2011
Not wanting to sound like a broken record, but gold touched a new record yesterday of $1682.1. This came on the fears still brewing over a double dip recession as global equity markets tumbled to lows last seen in early 2009.
In the afternoon session though a higher US Dollar, forced selling to cover margin calls elsewhere and possibly profit taking reversed the early gains.
By the end of the session the precious metal lost $16.9 overall, closing at $1641.7, but at time of writing the bargain hunters were at their screens already, lifting the metal to $1658.4.
As the possibility of reduced energy demand welled in investors’ eyes, oil felt the brunt of a bearish market.
Traders spent the day pondering over renewed fears that the measures taken so far by the developed economies failed to give any real growth a kick up the backside.
Not only this, but a higher Dollar versus the Euro made things worse, with crude prices really feeling the pressure.
Let’s just see how these employment figures come in from our companions across the Atlantic, as a poor figure could just mean this is just the beginning.
Spread Betting on Commodities - 4 August 2011
Gold is hovering just below its highs around $1663 and seems content being around the dizzy heights. Our spread betting account holders have picked the top recently and it's interesting to have seen a large amount of profit taking. For one of the few times in the last few years our gold book is flat to long.
Brent's been thrashed around this week and further weakness yesterday has brought us down to $113.25 where we remain this morning.
If the macro economic data continues to under achieve then crude oil prices might continue to come under pressure.
Spread Betting on Commodities - 3 August 2011
Although it appears US officials have dodged the default bullet, investors seem to be reacting badly to the news.
Economic data is still coming out of the US with a sour taste and the risk of pollution from the European sovereign debt continues to loom. As a result, the gold spread trading market pushed through to a new all time high of $1661.5 and retained its safety haven status.
The precious metal posted a 36 Dollar gain to $1654.2 for the day and at time of writing it is not losing steam as we’re seeing, yet again, new highs of $1672.3.
As gold relished in the weak economic data being released yesterday, crude oil did not.
The small growth that the US has seen so far was put in the spotlight once again. The Commerce Department showed that personal spending declined 0.2% versus unchanged expectations which sent shockwaves through the energy market.
Not only these stats, but also the sharply declining Dow Jones and the rising US Dollar were all thrown into the cauldron to result in oil feeling a lot of downwards pressure. That pressure is continuing as this morning we’re seeing a lower figure of $115.31 on Brent.
Spread Betting on Commodities - 2 August 2011
Gold is gradually grinding higher even though in an attempt to get back above $1630. The precious metal remains well supported but, having drifted sideways for the past couple of weeks, there might be cause for a correction around the corner.
Clients don’t seem to think so however as they remain long of the precious metal, hoping for ever higher highs and who can blame them when you look at the longer-term chart.
Brent is languishing around $116 after a sharp move to the downside yesterday in line with equities. The black stuff plummeted from well above $119 to $115 in a couple of hours following the US manufacturing data.
So at $116.10 this morning, $120 remains the resistance with $115 the support in the near term.
Spread Betting on Commodities - 1 August 2011
As the August 2nd deadline neared, with Congress and the White House getting nowhere nearer to a solution on how to raise the debt ceiling, investors found safety in gold. This helped the yellow metal touch a new all-time intraday record of $1632 on Friday.
This coupled with the lacklustre GDP numbers for March to June, indicating a lower than expected growth, helped investors decide to put their funds into gold.
So the precious metal climbed 12 Dollars to finish the session at $1626, but not for long, as this morning that gain has been eradicated thanks to the talk of an 11th hour deal.
Thanks to the lower than anticipated readings in US GDP, coming in at 1.3% versus the forecast 1.8%, energy demand was expected to take a hit, and traders sentiment pushed the crude oil spread betting market lower on Friday.
The downward revision for the first quarter to 0.4%, down from the initial 1.9%, only added fuel to the fire as investors pondered over the sluggish growth. This morning though the commodities price has been inflated, up to $119.06.
Spread Betting on Commodities - 29 July 2011
The Dollar strength has led to some mild weakness for gold this morning taking us to $1611 but still firmly above the $1600 level. Its white cousin silver has suffered slightly more profit taking bringing it back below $40 to $39.43. Bulls will be hoping that support at $39.00 and $38.30 will hold up.
Crude prices remain relatively resilient in the face of the sell off in equity markets with Brent trading at $117.50. After such a week of uncertainty investors will probably be looking forward to a break at the week end, but would rather be going into it with clarity over the US debt issue.
Spread Betting on Commodities - 28 July 2011
Gold spread betting bulls seem to remain in control as the little bout of profit taking was little more than that. With gold at $1614 this morning and its silver cousin back below $41 at $40.30, these favourite metals are in limbo at the moment.
Crude oil initially fell after the weak durable goods orders from the US but rebounded after inventories showed an unexpected build up.
So after dipping back below $118, Brent did what it's spent most of the week doing by getting back above there after the inventory numbers. This morning the black stuff is at $117.70.
Spread betting and CFD trading carry a high level of risk and you can lose more than your initial deposit so you should ensure spread betting or CFD trading meet your investment objectives and if necessary seek independent advice.
Market Commentry from Financial Spreads.
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Financial Spreads - tax free* trading on over 2,500 spread betting markets. With a Financial Spreads Account you can trade commission free, 24 hours a day on stock market indices, forex, shares commodities and...read review » Financial Spreads.
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Where to Trade Commodities Tax Free*
You can speculate on Commodities tax free* with the following spread betting companies:
With financial spread betting you can lose more than your original stake or investment. Spread betting carries a high level of risk to your capital. Please familiarise yourself with the risks that are involved and before trading, ensure that financial spread betting matches your investment objectives. Seek independent advice where necessary.
Spread Betting Commodities Trading - edited by MJ, 05 August 2011.
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With spread betting you can lose more than your original stake or investment. Spread betting carries a high level of risk to your capital so please familiarise yourself with the risks that are involved and, before trading, ensure that spread betting matches your investment objectives. Seek independent advice where necessary.
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* Based on current UK tax law. Tax law may change and can differ depending on your personal circumstances.
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