Daily FNArena News - Commodities

The 30 month outlook for the US dollar is for further decline, Deutsche Bank suggests, as one would expect the gold price should move up accordingly.

Dennis Gartman believes the current price movements for gold are critical for the short term outlook.

Merrill Lynch expects a pull back in gold over the coming month or so to US$600-625/oz, but expects a price of US$750/oz by year end.

Have Chinese steel mills finally accepted a 19% price increase for iron ore? Contradictory statements are still coming out of China.

Market experts and investors are too bullish on global oil demand, Wells Fargo economist Swanson believes. He thinks the market is heading towards a genuine shock.

China’s plans to raise stainless steel production capacity look set to support nickel prices for some time to come.

Citigroup has increased its price forecasts for gold for the next 2.5 years. The result is recommendation upgrades and higher targets for Australian stocks.

Steel industry watcher MEPS was surprised by a 5.4% jump in prices in May.

If investors should draw any conclusions from recent events it is that the price of gold is ready to continue its upward path, Dennis Gartman says.

Extra production from China, Russia and the EU to drive a 7.5% increase in stainless steel production, MEPS says.