WEBODIGY Business & Finance Journal

- Crude oil prices again weakened, although dikisaran still survive USD81 a barrel level, in trading Tuesday (9/3/2010) local time, along with the strengthening of United States dollars (U.S.).

As quoted by the AFP, Wednesday (10/3/2010), the oil reference price for April contracts, down 37 cents to U.S. $ USD81, 50 per barrel, on the New York Mercantile Exchange (NYMEX.) In the early trading, oil prices had slumped to $ 80, 16 per barrel. While in London, the price of Brent oil fell 56 cents to U.S. $ USD79, 91 on the ICE Futures.

Oil prices weakened due to the pressure the U.S. dollar strengthening, so that for the investors who hold other major currencies to buy oil objection.

According to analyst Addison Armstrong, strengthening U.S. dollar against the euro, triggered by a conversation between President Barack Obama with the Prime Minister of Greece related debt crisis that hit the country.

Meanwhile, the Energy Information Administration said in a monthly projections that oil and gasoline prices tend to be stable this year

The price of gold in the spot market this morning was recorded at the position of U.S. $ 1124.36 per ounce, or down from yesterday’s position in the level of U.S. $ 1136.76 per ouonce, the data revealed.

Meanwhile, from Singapore reported contract price of gold also fell on the second day because of the strengthening U.S. dollar pushed the demand for the precious metal as an alternative asset.

Greenback currency strengthened against the currencies of six out of basketball ahead of today’s employment report, which economists predicted would show a contraction in the 2 years running, an indication that the country with the world’s largest economy began to rise from recession. Gold rose 24% in 2009 because the Federal Reserve keep interest rates near zero in order to encourage growth.

U.S. dollar experienced gains of 0.8% against the basket of six currencies yesterday.

Gold for immediate delivery stumbled 0.6% to U.S. $ 1125.18 per ounce at 9:19 pm in Singapore. February gold contract trimmed 0.6% to as low as U.S. $ 1125.30 per ounce.

Among the other precious metals, silver-trimmed 0.7% to U.S. $ 18.105 an ounce, platinum stumbled 1.1% to U.S. $ 1537.70 per ounce and palladium fell 0.4% to U.S. $ 424.74 per ounce

Islamic Business precious metal investment products Mining Corporation of the public interest because its value is relatively stable and do not experience shrinkage.

Perum Pegadaian Liaison Office of Central Java-Yogyakarta XII Ambardhi murabaha say investing in precious metals, which was launched since November 2008 to August 2009 reached record sales of 6230 grams or 6.23 kg.

According to him, the main factor driving this interest is the product of investment in the form of 24 carat gold plate and a certificate of Perum Pegadaian precious metals. With the certificate of ownership is noble product can easily resold or pledged, while the value is not diminished and follow the world price of gold.

In addition, the purchase of precious products Perum Pegadaian can be done either by cash or credit, with the provision of pieces / slabs varied, covering 5 gr, 10 gr, 25 gr, 50 gr and 100 gr, 250 gr and 1 kg.

“Investing in precious metals are considered more profitable for resale value is relatively high compared with other types of investments, and price fluctuations that follow the market,” he told Business.

Ambardhi tells the noble product sales Perum Pegadaian includes 18 outlets in Central Java-Yogyakarta area is still dominated by pieces 10 grams, 250 grams while the puck and not sold 1kg.

Office of the Data Mining Corporation of Central Java-Yogyakarta XII shows the noble product sales during November 2008-August 2009 include 10 grams of gold plates sold 129 copies, 5 grams sold 78 pieces, 25 gr sold 74 pieces, 50 gr sold 28 copies and sold 100 grams 13 pieces

Contract price of gold climbed to its highest level in a week as the dollar depreciation that drive demand for the precious metal as an alternative investment.

U.S. dollar slumped to the lowest point this week against six major currencies of the world. Gold bullion, which is usually purchased traders to hedge from inflation, moved up if the dollar weakens.

Precious metal prices, which rose 25% this year, touching a record level of U.S. $ 1227.50 per ounce at the beginning of this month, while the dollar plunged more than 4%.

“The sentiment is still strong, while the greenback continued to get pressure,” said James Moore, analyst at TheBullionDesk.com in London.

The price of gold futures for February delivery rose U.S. $ 10.80 (1%) to U.S. $ 1104.80 per ounce on the Comex unit, the New York Mercantile Exchange, the biggest increase since December 16.

Precious metals price rally this year’s record. Growth in the United States is weakened during the recession the longest since World War II to encourage demand for gold as an investment alternative.

World crude oil prices fell at level USD82 per barrel in trading Thursday (7/1/2010) local time, after a touching its highest level since October 2008.

No other triggers, the price of fuel that exceeds the highest level in 2009, along with winter and a flood of speculative money. But winter is not merely a reference point for the improvement in demand for fuel.

As quoted by AFP, Friday (8/1/2010), the contract prices for February delivery fell 52 cents thin to USD82, 66 per barrel in trading the New York Mercantile Exchange (NYMEX), along with an increase in United States dollars (U.S.) . While in London, the price of Brent oil for February contract fell 38 cents to U.S. $ USD81, 51 per barrel on the ICE Futures.

Some funds increasingly flow into oil trading in line with the weakening U.S. dollar yesterday, making cheaper oil prices for the collectible. A weaker dollar makes oil priced in dollars and other commodities more attractive to buyers using other currencies are becoming stronger. Financial markets also digested a report showing good results for the end of 2009.

Department of Energy (DoE) American reported on Wednesday that crude oil reserves rose 1.3 million barrels in the week ended January 1, in the range of 300 thousand barrels. In addition, the market is also waiting for a report of fuel stock that is used a number of consumers in the face of cold weather, especially in northern areas that require the greatest energy.