Gold prices may continue to grow and set new records next week

review the oil market for 09.10.09

Dynamics

Quotes of the oil market on the basis of trading on Friday, October 9 closed almost unchanged in price against the background of strengthening U.S. dollar on the currency market FOREX, despite the positive dynamics of the stock pads.

At the New York Stock Exchange NYMEH cost of the November futures for U.S. light crude rose by 0.08, and its price, therefore, amounted to 71.77 dollar per barrel.

The exchange ICE in London, Brent crude futures price rose 0.23 to 70.00 dollars per barrel.

Causes

On Friday, Oct. 9 quotes in the market of black gold on the results of the auctions have closed almost unchanged in price against the background of strengthening the dollar in the FOREX market after data that showed a smaller-than-expected amount of U.S. trade deficit In August, as well as in connection with the sounded Thursday night commentary Federal Reserve Chairman Ben Beranke the U.S., despite the positive dynamics of the stock sites, where the growth of stock price has supported oil futures. Not provided adequate support published on Friday last forecast of the International Energy Agency, where the forecast for oil demand was revised upwards.

From news worth noting the message chapters of LUKoil Vagit Alekperov as saying that the company is ready to participate in the project West Qurna-1 under the Iraqi Oil Ministry. The company's representatives left the information in the Iraqi Oil Ministry that the consortium LUKoil and Conoco Philips is ready to hold direct talks on the project West Qurna-1 on terms that were previously announced by the Ministry of Oil of Iraq. The corresponding message was sent to the Ministry of Oil of Iraq Deputy Foreign Minister of Russia Alexander Saltanov during a recent visit to Iraq, Russia's delegation, which included also was the head of Lukoil.

What to expect?

With regard to projections for 2010, the International Energy Agency revised the forecast for oil demand upward by 350 000 barrels to 86.1 million barrels per day against a background of confidence in the economic recovery.

Why worry?

negative factor in the oil market is the technical picture, namely that, according to some analysts, while oil futures are not strikes current trading range of 65-75 dollars per barrel, namely the upper limit of the range, oil prices will difficult to achieve significant positive results.

Overview of precious metals market for 09.10.09

Dynamics

On Friday, Oct. 9 on the basis of trading quotes on gold and silver have shown downward trends in price against the background of strengthening U.S. dollar on the currency market FOREX, and also due to technical factors.

As a result of trading on the COMEX, division of the New York Mercantile Exchange (NYMEX), quotes gold futures declined 7.70 to 1048.60 on the dollar per troy ounce, quotes, silver futures fell 12 cents to 17.69 dollars per ounce.

Causes

On Friday, Oct. 9 quotes for precious metals market has shown downward trends in price against the background of strengthening the U.S. dollar in the FOREX market after data showed the greater than expected, reducing the U.S. trade deficit in August, and comments of the Chairman U.S. Federal Reserve Ben Bernanke, who said that the Fed would tighten monetary policy when economic activity is significantly enhanced, but also because of technical factors, which appeared in the profit-taking by market participants after five days of growth. A small support stock quotes have sites that have completed the trading session in the green: so, Dow Jones industrial average was 9864.94 (78.07), Nasdaq Composite - 2139.28 (15.35), SP 500 - 1071.49 (6.01).

From the news it may be noted that the company Andean Resources Ltd (Australia, Argentina), aims to begin construction of a new gold mine of Cerro Negro in Argentina in the second half of 2010, so that within a year to begin production here gold. Feasibility study for construction should be ready by the end of 2009 are being evaluated for inclusion in the refinement of high-grade veins Bayo Negro, whose length along the strike, according to recently obtained results of drilling up to 1 km. In IV quarter should begin preparations for the underground operation, beginning with the sinking of the exploration bias, which will provide access to the ore body. On the construction of the mine will require 200 million dollars. According to the preliminary feasibility study, completed in October 2008, Capital costs were estimated at 281 million dollars, the annual production company - to 350 thousand ounces of gold, the capacity of the beneficiation plant - to 4 thousand tons per day of processed ore. The economic return is estimated at two years. The proven reserves of the deposit of Cerro Negro are 1.5 million ounces of gold and 17.3 million ounces of silver and inferred categories of inferred (in addition to the reserves) - 0.7 million ounces of gold and 4.9 million ounces of silver. Cerro Negro is located in southern Argentina, in the province of Santa Cruz.

What to expect?

According to many analysts and traders, the price of gold may continue to grow and set new records next week against the backdrop of the fall of the dollar in the currency market FOREX, as well as fears of accelerating inflation.

Why worry?

The main negative factor for the precious metals market is the technical picture, namely the fact that prices rewrote the global maximum, and many indicators are overbought in the deep zone, which in turn may increase the pressure on precious metals and re-throw quotes to strong Support for 1000 dollars per troy ounce.

non-ferrous metals market review for 09.10.09

Dynamics

On Friday, Oct. 9 quotes for non-ferrous metals on the basis of trading on the London Stock Exchange closed with a decrease in value against the background of strengthening U.S. dollar on the foreign exchange market, FOREX, and also because of the negative dynamics of neighboring markets.

At the London Metal Exchange LME aluminum price closed at 1,865 dollars per tonne.

Copper at the close of the exchange was worth 6265 dollars per ton.

Nickel bidding up the price of 18950 dollars per tonne.

Causes

On Friday, 9 October the prices of nonferrous metals on the basis of trading on the London Stock Exchange closed with a decrease in value against the U.S. dollar strengthening in the FOREX market after economic data on U.S. trade deficit and comments the chairman of the Federal Reserve Ben Bernanke, as well as by the negative dynamics of neighboring markets, namely the fall in prices of the precious metals market and mixed trading on the oil market.

From news worth noting that the South Korean venture company Freegood Inc. purchased from Canadian mining company Ivanhoe Mines Ltd. copper deposit in the area Undur-Nara, near the city of Ulan Bator, for 24.82 million dollars. Ivanhoe acquired Undur-Naran in 2004, after it was confirmed the existence of stockpiles of copper, gold and molybdenum. Estimated resources of the deposit amount to 5 million tons of copper. Freegood Inc. specializes in natural resources and is currently developing gold and copper deposits in the Mongolian region Undur-Naran. Ivanhoe Mines conducts exploration for base and precious metals and development of deposits in Mongolia, Kazakhstan and Australia. C 2008 The Company has an investment agreement with the Government of Mongolia for the development of gold-copper porphyry deposit ylo-Tolgoi, together with one of the world's largest mining companies Rio Tinto Group.

What to expect?

According to some analysts, the stock market rally and another record gold seriously support and push up prices of non-ferrous metals. If this note out to the Chinese market after national holidays or after the Golden Week, you can probably already speak about the beginning of a new uptrend.

Why worry?

negative factor in the market of nonferrous metals, according to analysts, advocates are still fledgling demand, which carries a greater chance of increasing desire to profit-taking by market participants and develop a deep downward correction.

In leaders today were shares of improving Russian fuel and energy companies, due to price increase in the energy market
Russia's players today will focus on the European sites and the currency market
Speculative recommendation on shares of Polyus Gold, Gazprom, Lukoil, Sberbank and VTB
From 5 to 9 October the volume of trading in securities on the RTS was $ 9.5 billion
UCRF: After the introduction of the new order of import and sale of mobile phones the volume of imports into Ukraine has increased almost 5 times
Capital pharmacists are losing business, but still not ready to give buyers a penny
Ghost of money

officials promised to start paying deposits Ukrprombank in November ...

Recommendations for market shares: LUKoil, Norilsk Nickel, Rostelecom, Gazprom, Mosenergo, Surgutneftegaz, Sberbank
Participants of the domestic market remain positive attitude

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