The global financial order with the hegemony of the United States has broken down and a new order with a new hegemony is taking time to emerge as China is refusing to assume the vacant central role. The international monetary system is in chaos trying to establish order to avert currency war and trade protectionism. [...]
The Chinese Premier Wen Jiabao stressed the need to step up the modification of the economic development pattern by extending economic reform and opening-up further to build a moderately prosperous society at the Fifth Plenary Session of the 17th CPC Central Committee on October 15. The premiere blamed resource and environment bottleneck, enlarging income gap, [...]
Commodity prices fall as dollar rises and investors sell off some of their goods for a profit. The US dollar bounced back in unstable forex market on Thursday as investors become vigilant ahead of G20 finance ministers meeting on Friday and Saturday. Market analysts forecast a stronger dollar if the G20 finance minister meeting developed [...]
Gold futures remain sharply higher after hitting their highest level in a month Monday due to the U.S. dollar’s lowest level against the euro in three weeks, as signs of improved Chinese oil demand and comments from a Federal Reserve official that U.S. interest rates would stay low pressured the dollar. Around 10:54 a.m. EST [...]
Potash, a mineral vital to farmers worldwide, has been a very unpredictable industry in recent past. Priced at $1000 a ton in 2008 during its peak years, Potash is now being priced at $350 in the settlement of a Chinese contract. It is this contract, however, which might just save the industry from recent woes.
Industrial metals led the Index in 2009 with a gain of 82.42% as recorded by the S&P GSCI Industrial Metals Index. For the decade, the S&P GSCI posted a cumulative total return of 63.69% led by a 265.84% increase in the S&P GSCI Precious Metals Index.
The US domestic production from federal onshore oil and gas wells makes up 11% of US natural gas supplies and 5% of the country’s oil. The Obama administration is already in the midst of a fight with the oil and gas industry over proposals to raise billions of dollars. This is as additional taxes from energy companies.
The Israel Diamond Institute Group of Companies (IDI) has signed a Memorandum of Understanding (MOU) with the All India Gems & Jewellery Trade Federation (GJF) for the establishment of areas of cooperation between the two parties, reports IndiaPRWire Tuesday.