Saturday, 23 June 2012
Most Asian stocks rose this week after a victory by pro-bailout parties in Greece eased prospects the country will leave the euro, overshadowing concern that the global economy is slowing after reports signaled slower manufacturing in the U.S. and China.
Brent oil futures closed about 2 percent higher near $91 a barrel on Friday as it rebounded on bargain hunting after prices earlier fell to an 18-month low. Brent crude fell for the week by $6.63, or 6.79 percent, the biggest weekly loss since the week to June 1.
Copper fell to its lowest in six months on Friday and is heading for its seventh weekly loss in eight as a faltering global economy dims the outlook for raw material demand. copper was down 0.4 percent at $7,310. It has lost about 14 percent this quarter.
Gold rebounded on Friday after the last session’s sell-off, but the precious metal was virtually flat for the year to date and posted a weekly drop of nearly 4 percent on deflation worries and a lack of aggressive Federal Reserve stimulus.
Friday, 22 June 2012
Gold regained strength on Friday, Gold dropped 2.5 percent and nearly wiped out this year’s gains. but was heading for its biggest weekly loss in a month after fears of a global economic slowdown hit commodities and prompted investors to seek safety in the U.S. dollar.