Gold Rush Magazine » Gold against Oil

Commodities Report: July 6, 2010: Oil Gains as Global Equities Rise, Gold Up on Greenback’s Decline

admin — Fri, 16 Jul 2010 15:21:07 +0000

Oil is on the rise in morning trade as global equities prices gain and the dollar slipped against major currencies. Speculation abounds, meanwhile, that BP plc (BP) is looking for support from private equity funds to stave off takeover bids.

Gold too is up as the greenback slipped and investors came in to buy up the yellow metal on dips. Base metals are up as the appetite to take on risks is seen to signal an improvement in global economic outlook.

At 0800 ET, Brent crude is up 1.5% at $72.55 a barrel, while light sweet crude is up 1.0% at $72.84 a barrel, and natural gas is up 2.8% at $4.82 a million British thermal units.

Gold is up 0.3% at $1,210.70 an ounce, and silver is up 0.8% at $17.86 an ounce, while copper is up 1.7% at $2.97 a pound.

There is growing speculation that BP is looking to private funds in Qatar, Kuwait, Abu Dhabi and Singapore to keep away hostile takeover bids from rivals including ExxonMobil (XOM) and Total (TOT).

In the mining sector, BHP Billiton (BHP) is up as Evolution Securities raised the world’s biggest mining company to a buy from add, while Independent Reserach too raised the company to a buy from hold.

Duration : 0:1:44

Technorati Tags: (XOM), BHP, Billiton, bp, Crude, ExxonMobil, gold, News, oil, stock, TOT, Total, Trading

2010 BP Gulf Oil Spill Photos

admin — Thu, 15 Jul 2010 04:24:53 +0000

Hard to look at photos of the 2010 gulf coast oil spill and all the devastation it is causing. The song is ‘Black Gold’ by the legendary Dr. John, a Louisiana native and a very outspoken resident against offshore drilling near such a vital American coastline.

Duration : 0:3:15

Technorati Tags: 2010, black, care, City, dr, drilling, Forgot, gold, Gulf, John, Katrina, louisiana, new, off, oil, Orleans, shore, spill, That, Treme, Tribal

Oil Falls as Global Equities Slip

admin — Mon, 12 Jul 2010 05:28:41 +0000

Oil is on the decline in early morning trade with equity prices worldwide slipping on fears about the global economic outlook. BP plc (BP) is up before the bell on the NYSE as CEO Tony Hayward met with Abu Dhabi’s Crown Prince Mohammed bin Zayed Al Nahyan to discuss the possibility of the sheikhdom buying up to 10% of shares in the company.

Gold too is taking a beating as the dollar strengthens against the euro, making it more expensive for non-greenback investors to shore up the yellow metal. In addition, the precious metal has been hurt after China’s State Administration of Foreign Exchange said that gold will not be a major component of the central bank’s portfolio.

At 0755 ET, Brent crude is up 0.8% at $72.00 a barrel, while light sweet crude is up 0.7% at $72.49 a barrel, and natural gas is up 0.3% at $4.69 a million British thermal units.

Gold is down 0.3% at $1,191.50 an ounce, while silver is 0.9% weaker at $17.70 an ounce, and copper is up 0.1% at $2.97 a pound.

The U.S. Environmental Protection Agency’s regulatory changes announced Tuesday to reduce smog and acid rain may lead some energy companies to shut down some of their power plants. Coal-fueled electricity producers American Electric Power Co. (AEP) and Southern Co. (SO) are expected to be hard hit by the reform measures to take effect in 2012.

Hercules Offshore Inc (HERO) said Chevron Corp (CVX) lifted a force majeure on a shallow water drilling rig in the Gulf of Mexico after Chevron received a permit to drill a new well.

Exxon Mobil Corp. (XOM) began evacuating non-essential personnel from offshore Gulf of Mexico facilities ahead of a tropical disturbance.

In the mining sector, Canadian gold mining group Aurizon Mines Ltd (ARZ) formed a joint venture with Niogold Mining Corp (NOX) to develop the Marban Block property in Quebec. Aurizon will earn a 50% interest in the project, subject to incurring expenditures totaling 20 million Canadian dollars over the next three years, of which 5 million Canadian dollars will be spent in the first year.

Duration : 0:2:38

Technorati Tags: (AEP), (SO), (XOM), Agency, american, Co., Corp., Electric, Environmental, Exxon, Gulf, mexico, Mobil, of, power, protection, Southern, U.S.

Commodities Report: June 29, 2010 – Oil Falls as China’s Economic Strength Questioned; Gold Gains

admin — Sat, 10 Jul 2010 13:29:09 +0000

Oil is falling in early morning trade as worries about China’s growth prospects are hurting energy demand as stocks worldwide falter. The Conference Board’s economic index for Asia rose 0.3% in April, instead of the 1.7% increase reported June 15. Traders will be looking to the release of U.S. consumer confidence and home price data later in the day for further clues on global economic strength.

Conversely, gold is gaining ground as its attraction as a safe haven builds up momentum once again. A rising dollar against the euro, however, is seen to keep a lid on significant gains for the yellow metal.

At 0755 ET, Brent crude is down 2.2% at $75.86 a barrel, while light sweet crude is down 2.5% at $76.33 a barrel, and natural gas is down 0.9% at $4.69 a million British thermal units.

Gold is down 0.1% at $1,237.20 an ounce, while silver is 0.7% weaker at $18.59 an ounce, and copper is over 3% lower at $2.99 a pound.

Siemens AG (SIEGN) will acquire a 49% stake in Denmark’s Dong Energy A/S for about $140.3 million, bolstering its foothold in offshore wind farms. The German conglomerate is currently seventh in the world in terms of installed capacity of turbines for the global windmill market.

In Asia, Japan’s JX Holdings Inc (5020) said its Nippon Oil unit has finalized a deal to sell a 49% stake in its Osaka refinery to PetroChina Co. (0857). The refinery has a 115,000 barrels-a-day capacity.

In the mining sector, Rio Tinto plc (RIO) could vote down a proposed iron ore venture with BHP Billiton Ltd (BHP) due to terms of payment, according to the Royal Bank of Scotland. BHP has agreed to pay Rio $5.8 billion equalize its contribution of assets to their joint plan to combine mines, railroads, and workfoces in western Australia to save about $10 billion in cost.

Canada’s Detour Gold Corp (DGC) said it will raise about $243.5 million through a bought deal financing to further its Detour Lake gold project.

Duration : 0:1:9

Technorati Tags: AG, Crude, Detour, DGC, gold, Holdings, JX, News, oil, petrochina, Rio, SIEGN, Siemens, stock, Tinto, Trading

OIL FLOW UNSTOPPABLE GULF OIL DISASTER man MADE WORKERS CANNOT TALK TO ANYBODY !!!

admin — Tue, 06 Jul 2010 06:57:31 +0000

In the kingdom of Cyprus, a certain Friar Minor asked the said lady to advise him as to what he ought to do about some doubts in his conscience, especially concerning the observance of the Rule of his order. When indeed the lady was praying for the abovesaid friar one day in the holy city of Jerusalem, Christ appeared to her and spoke to her, saying many things about the Order of Friars Minor. And at the end he threatens all property-owning religious with everlasting death.
SAINT BRIDGET PATRON SAINT OF EUROPE BOOK 7 Chapter 20 PART IV also want to learn the liberal arts and science, so that from them I may be able to have some honor and dignity in the order, having horses and silver vessels and handsome clothes and costly ornaments. And if anyone reproves me for these things, I shall answer that I do it for the honor of my order, if besides, I could work further and do so much that I would be made a bishop, then I would truly be happy and blessed in such a life as I then could lead, for then I would enjoy my personal freedom and I would have all my bodily pleasure.’

Now hear what the devil had done in the aforesaid Order of Francis. For it is truly so that in the world the friars who, either in action or in will and desire, hold the aforesaid Rule that the devil taught to Brother Adversary, are more numerous than those who keep the Rule that I myself taught to Brother Francis. You should nevertheless know that however much those friars – namely, those of Francis and those of Brother Adversary – are mixed together as long as they live in the world, I will nevertheless separate them after death, for I am their Judge. And I shall judge that those friars of the Rule of Francis are to remain with me, together with Francis, in everlasting joy. But those who belong to Brother Adversary’s Rule will be doomed to eternal punishments in the depth of if before death they would not will to correct themselves and humbly amend their lives.

Nor is this to be wondered at, for those who ought to give examples of humility and sanctity to worldly human beings actually furnish them with vile and ribald examples through their pride and covetousness. And therefore both the said friars themselves and all other religious who are prohibited by rule from having private property and yet have some property against their Rule, and who wish to appease me by conferring upon me a part of it, should know for very certain that their gifts are abominable to me and hateful and unworthy of any good gift in return. For it is more agreeable and pleasing to me that they diligently observe the blessed poverty that they professed according to their Rules, than that they might present to me all the gold and silver and even all the metals that there are in the world.

Duration : 0:10:0

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