Gold hits $1,650 on weaker US Dollar

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Source: Marketwatch
Gold futures soared above $1,650 an ounce during Asian session finding strong support on the depreciating US Dollar after data news on larger than expected economic growth in China in Q4. COMEX gold for February delivery traded at $1,658.60 an ounce on the New York Mercantile Exchange, gaining 1.7% since opening.
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Tue, 17 Jan 2012 09:28:06 GMT

EIA: word's crude oil consumption to hit 1.3 million barrels per day this year

The EIA reported that global consumption of crude oil is expected to jump to 1.3 million barrels per day in 2012 and to 1.5 million barrels per day in 2013. The major drivers for the increase in oil consumption will be the US, China, Brazil and Middle East. In case of absence of oil disruption, the energy market will stay

Tue, 17 Jan 2012 10:25:55 GMT

Rio Tinto announces record high iron ore production

Rio Tinto PLC announced, it increased output of core steel-making commodities in the last quarter of 2011, with its iron ore production attaining a record high level of 51.2 million metric tons, indicating yearly increase by 2% in Q4. Full year production of iron ore advanced by 4% to 191.8 million tons, while the output of coking coal surged by

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