Crude heads for the largest monthly fall in 3 years

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Source: Bloomberg
Crude oil kept following a bearish trend on Wednesday and moved towards the largest monthly fall in 3 years on worries the deepening European debt turmoil and slowing growth in US will curb demand for fuel. Oil futures today are 20% down from the highest value this year, implying a bearish path. July oil lost USD 0.17 to USD 87.65 per barrel. 
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Thu, 31 May 2012 08:36:07 GMT

Gold futures extend losses in electronic trade

Gold futures kept declining in electronic trade on Thursday as global slump in stock and currency markets amid stronger US Dollar damped the demand for precious metals. Gold to be delivered in August slipped 0.1% or USD 1.90 to USD 1,561.50 per ounce. On monthly basis gold has depreciated around 6.2%. Silver for July delivery dropped USD 0.19 or 0.7%

Thu, 31 May 2012 11:31:46 GMT

European shares tumble on Spain credit rating cut

Europe's equities fell on Wednesday reflecting drop in investor sentiment after Spain's downgrade in Tuesday evening. Stoxx Europe 600 declined 1.5%, Spanish IBEX 35 plunged 2.6% and Italian FTSE MIB dropped 1.8%. Athens General index lost 3.2% and British FTSE 100 shed 1.7%. German DAX index edged 1.8% lower. 

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