Platinum – Bloomberg reported that spot platinum changed very little after climbing as much as 1.9% last week.
Articles Tagged "Greece"
Palladium – The Sydney Morning Herald reported that spot palladium prices saw a slight decline of 0.3 percent, hitting US$659.97 per ounce, as Eurozone finance ministers and the International Monetary Fund made their third attempt in three weeks at deciding whether to release emergency aid for Greece.
Platinum – The Sydney Morning Herald reported that spot platinum declined to US$1,609 per ounce, a drop of 0.4 percent, as the International Monetary Fund and Eurozone finance ministers tried to come to an agreement regarding monetary aid for Greece.
Oil – Oil dropped for a second day as U.S. crude inventories were forecast to gain and on concern that a deal for Greece to buy back its bonds may falter.
Oil – Oil fell as euro-area finance ministers met to arrange a bailout payment for Greece and as American leaders prepared to wrestle with a budget agreement.
Zinc – The Standard & Poor’s GSCI gauge of 24 commodities rose 0.4 percent to 648.46 by 4:52 p.m. in London. The UBS Bloomberg CMCI index of 26 raw materials was up 0.5 percent at 1,577.921. U.S. markets closed yesterday for the Thanksgiving holiday.
Oil – Oil trades near the lowest level in almost four months in New York surrounding concerns that Greece will struggle to secure another bailout and uncertainty over who will win tomorrow’s U.S. presidential elections.
Gas – Reuters reported that offshore natural gas could lead to a significant economic turnaround for Greece if a study indicating that the country's reserves are worth $600 billion is confirmed. The downside is that it will take years to explore and develop the sector.
Gas – Reuters reported that Italy, Albania and Greece signed an agreement in favor of building the Trans-Adriatic Pipeline (TAP), which will deliver gas from Azerbaijan to the European Union. It is hoped that the pipeline will reduce Europe's dependence on Russia for energy.
Concerns about the Eurozone meant there was little movement in the markets this week, but the upcoming Greek elections are likely to change that.