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Gold Silver Reports – China has been quietly accumulating a significant amount of gold bullion in recent years. They are now the top producer and top consumer of gold in the world. They are believed to keep all of their domestic production, plus import significant amounts from other nations. In addition, they have been buying up gold mines around the globe at steep discounts and bringing home gold they had stored in London, New York and Switzerland.
Gold Silver Reports – India is one of the top consumers of Gold thanks to the people’s unrelenting love for the yellow metal. But, the country lacks a solid regulator to monitor the decisions taken about Gold. The idea of a National Gold Board is currently being mooted.
Gold Silver Reports – The Tokyo Commodity Exchange’s average daily volume for December 2015 was 101,127 contracts, up 0.3% from November 2015. Volume for Gold standard and Gold Daily futures, TOCOM’s most active contracts, were both down.
Gold Silver Reports – Indian PM Modi discussions with global oil and gas experts to see how India can improve its prospects in the sector. Modi stressed on his vision for a fresh look at the sector, to bring in investment, technological upgradation, and development of human resource.
Gold Silver Reports – Oil fell, erasing an earlier gain, as a global glut outweighed an increase in tension between Saudi Arabia and Iran.
The Saudi government cut ties with Iran following an attack on its embassy in Tehran by demonstrators protesting the execution of a prominent Shiite cleric. Prices last week capped the biggest two-year loss on record amid speculation a global glut will be prolonged as U.S. crude stockpiles expanded and the Organization of Petroleum Exporting Countries abandoned output limits.
Gold Silver Reports – China’s insatiable appetite for crude is at least one thing oil bulls can count on this year.
The world’s biggest commodity consumer may buy 8 percent more oil from overseas in 2016, taking average purchases to 7.2 million barrels a day, according to the median of seven respondents in a Bloomberg survey including FGE and Energy Aspects Ltd. The country’s inbound shipments in the first 11 months of last year increased 8.8 percent to 6.63 million barrels a day and touched a monthly record of 7.4 million in April, customs data show.
Gold Silver Reports – For 2016, the pace of rate hike in the U.S will decide the fate of yellow metal’s prices. Also, a rebound in oil prices is expected to underpin gold going forward.
Gold Silver Reports – Crude oil surged after Saudi Arabia cut diplomatic ties with Iran amid escalating tension between the regional powers, buoying energy shares. Japanese equities slid as the yen held near the highest in more than two months, while U.S. equity-index futures advanced.
Gold Silver Reports:- Outlook The Crude oil market could face many uncertainties heading into 2016, including the pace and volume at which Iranian oil re-enters the market, oil consumption growth, and the responsiveness of non-OPEC production to low oil prices.
“A mix of supply glut, poor demand and changing oil dynamics could keep oil prices under pressure in first quarter of 2016, as countries across the Middle East, Africa and Russia are all pumping oil at record capacity.”
Gold Silver Reports – Markets have stepped into a new year barely recovering from the damages suffered in 2015. Most commodities are stll scraping the bottom, while markets are wondering where the silver line is.
Year 2016 will unquestionably unfold a lot of events but at the outset, some prevailing market dynamics will play a crucial role going forward. What are the major forces that will drive the markets in 2015?