Gold ETPs saw their second consecutive week of inflows as the crisis in eastern Ukraine shows no sign of diminishing. US Secretary of State John Kerry accused Russia of “distraction, deception and destabilisation” in eastern Ukraine, …..
ETF Securities Research
in a strongly worded statement requesting Russia to help diffuse the crisis or face further sanctions. Brent oil and nickel rose 0.7% and 2.4% respectively as fears of more aggressive sanctions on Russia threaten to disrupt the supply of these commodities. Russia is one of the world’s largest oil producers and third largest nickel producer, producing 13% of global supplies of each commodity. Industrial metal prices rose across the board as market participants are realising that supply is markedly tighter than most had previously assumed. The International Copper Study Group for example, which had forecast a copper surplus in 2014, conceded that the January balance was a sizable deficit of 23k tonnes compared to a 131k tonne surplus this time last year.
Source: ETFWorld.co.uk
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