Barclays Capital
Barclays Capital
Barclays Investment Bankis the investment banking division of the British multinational Barclays bank headquartered in London. It provides advisory, financing and risk management services to large companies, institutions and government clients. It is a primary dealer in U.S. Treasury securities and various European Government bonds...
break continue likely looks potential prices though trade upside
Range-bound trade looks likely to continue for some time, though we see potential for prices to break on the upside after this consolidation phase.
appears bullish continue downside limited near prices range remains sentiment though underlying wide
Prices should continue to consolidate in the wide range of $535-$555 in the near term, though the underlying sentiment remains bullish and downside appears limited at present.
demand miss price remain supply
Don't miss the boat, again. Supply and demand fundamentals remain constructive for the price up-trends to persist.
above balance cannot commodity dominating further gains gold high inventory market momentum oil prices ruled strong terms
While we think such high prices are not justifiable by gold 's commodity fundamentals in terms of market balance and inventory levels, the combination of a surge in oil prices above $70/barrel, geopolitical tensions and strong momentum is dominating at present, and further gains cannot be ruled out.
chile copper demand disruption environment given lack last lend prices production rarely shipments spare strikes strong support tend
While strikes in Chile rarely tend to last for very long, any disruption to production or shipments will lend support to copper prices given the strong demand environment and lack of spare material.
correction despite further markets physical prices relatively steady suggest support threat worth
It is worth noting that prices are getting little support from the physical markets despite relatively steady prices of late, which suggest that threat of further correction remains.
dispute higher leaves open prices risk short solution
The possibility for a non-benign solution to the dispute leaves open the risk for higher prices in the short term.
cut fall looking meeting oil output pressure prices prior sharp
A sharp fall in oil prices prior to OPEC's end-January meeting is looking increasingly unlikely, and the pressure on OPEC to make a cut to output prior to Q2 is abating.
activity asian bank based buying central concerns continue dominate economic fund hopes interest physical price soaring
Speculative activity will continue to dominate price movements, with fund interest based on justifications such as economic slowdown, inflationary concerns and hopes of Asian central bank buying and soaring physical demand.
buying help levels physical price provide unclear
Physical buying could help provide some support, but it is still unclear at which price levels they would re-emerge in significant quantities.
given group interest positive price renewed risks sentiment
Given the renewed interest in commodities and positive sentiment in gold, price risks for the (platinum group metals) are still very much on the upside, in our view.
conditions general market nervous next price remain
Market conditions will remain nervous and there is a general sense of uncertainty over the next big price move.
above later oil peak prices remains seen supported targeting
The faltering uptrend...warns of choppy times ahead. However, we do not think we have seen the peak for oil and while prices remains supported above $56.50 we are targeting $75 later in the year.
capacity crude lacks oil refine short spare
Crude oil was the one thing not in short supply. What the U.S. lacks is oil products, especially gasoline, and it lacks the spare capacity to refine more crude.