Metals Taking Another Run Up
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Copper hit its & #160;highest level in 20 months, nickel is around a two year high, oil traded at the highest it has been for 17 months and the prices of other commodities were a bit stronger & #160;after a solid pre-Easter run up.Comex May copper rose 3.05 cents to & #160; & #36;US3.5840 a pound last Thursday, the highest since August 2008, and then continued with the run yesterday in Asian trading.It traded around & #36;US3.6150 in Asian electronic trading on Comex and hit & #36;US3.6350 in US trading this morning.Crude oil for May delivery rose as much as & #36;US1.02, or 1.2% in Asia to reach & #160; & #36;US85.89 a barrel, the highest since Oct. 9, 2008.It then surged in the US to peak in New York Nymex trading at & #36;US86.82.The contract rose & #36;US1.11, or 1.3%, to & #36;US84.87 on Thursday, then bounded higher yesterday in reaction to the solid US employment figures for March and the good manufacturing reports earlier in the week.Prices climbed after reports showed Chinese, European and US manufacturing expanded, while pessimism continues to ease among Japan's largest industrial companies.Gold also rose & #160;as signs that the global economic recovery is quickening lifted & #160;demand for commodities and stocks.Platinum hit highest level since August 2008 after a big rise in US car sales last month and a rise in Japanese sales.Spot gold hit & #160; & #36;US1126.30 in Singapore, while Comex June & #160;gold traded at & #36;US1127 in Asia and then rose to & #36;US1132 in New York.Falling & #160;stocks in Europe and Asia have helped lift copper prices .LME & #160;stockpiles dropped & #160;another 1,875 tonnes on Thursday to 512,450 tonnes, down from the & #160;six and a half year & #160;high of 555,075 tonnes in mid-February.LME stocks of aluminum, used in transport and packaging, are down more than 46,000 tonnes to 4.59 million tonnes, since peaking & #160;above 4.64 million tonnes on late January.Traders warn that the falling stocks might actually be a mirage as much of the metal is held by banks who have bought it to finance producers and get higher returns than lending to other banks and companies.Nickel jumped & #160;35% in the first quarter, outperforming other LME metals, on expectations of stronger demand from stainless steel mills.It closed at & #36;US25,050 a tonne on the LME on Thursday.LME nickel stocks peaked at more than & #160;166,000 tonnes in early February and are now at 157,512 tonnes.Zinc touched a two month high and tin ended around & #160; & #36;US18,450 a tonne on Thursday, after & #160;earlier touching & #160; & #36;US18,750, a level last seen since September 2008. & #160;
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Daniel Kertcher established Platinum Pursuits in 2001 as a vehicle in which to share his knowledge of strategies to use the financial markets to grow wealth, with the aim of achieving financial freedom by making your money work for you.
His argument is that until you become financially literate and develop a method where you're able to get a reasonable return on your capital (i.e. making your money work for you), you will instead be forever working hard for your money.
Daniel Kertcher personally achieved financial freedom at a relatively young age, through his knowledge of property and then financial markets investing. Through using Options and leveraged instruments such as CFDs, Daniel developed a system to trade the markets where he could benefit from the leverage when the trade went in the direction he predicted, and hedged his positions so that there was a limited downside risk.
Some people in the past have criticised Daniel's message of striving for financial freedom in a high-risk environment such as trading derivatives. However, it is not Daniel's or Platinum Pursuits' goal to encourage everyone to trade the financial markets. Every kind of investing contains an element of risk, so this level of education is aimed specifically for those who want an understanding of professional trading techniques and strategies that they hope to apply to their own capital, and it is absolutely true that many people are not yet in a position to invest a chunk of their savings.
To be truly financially literate, it can pay to explore all the options available when you are in a position to try to get ahead in life. Daniel currently presents free introductory seminars nationally on selected dates from February to November. |
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