Daily FNArena News - Commodities

Having decided European central banks did not sell their gold quota last week, it appears they may well have – covertly. The question of gold market manipulation is reaching a head.

Gold may yet have to trade below US$550/oz before the bull market can resume, according to gold experts.

Steel Industry consultant MEPS is forecasting a downward trend for global steel prices in the coming year, primarily reflecting lower demand.

The last week has seen further uranium price upgrades from investment banks and ABARE.

Industry Consultant MEPS suggests steel prices in the North American Market have peaked, with weakness likely until the second half of 2007.

Steel industry consultant MEPS suggests there is a risk the stainless steel market will overheat in coming months as high nickel prices continue to drive up alloy surcharges.

A summary of the Resource Capital Research quarterly uranium sector review.

It’s official. European central banks declined to sell their full quota of gold allowable under the Washington Agreement, for the first time in six years.

With the Indian rupee gold price 17% off its highs, Indian and global banks are gearing up for a traditional rush in demand for coins and bars.

Credit Suisse head of research Giles Keating sees continued weakness for commodities short-term, but a return to growth in the US next year means the longer-term uptrend remains intact.