Refishowcase Business & Finance

- gold prices soaring again. Tuesday (26.1.2010), the price of gold at a cash Tokyo market rose 0.3 percent to 1101.75 U.S. dollars per troy ounce.

Investors hunt for the precious metal back to its price down quite a lot last week. However, investors remained wary of the meeting of Federal Open Market Committee (FOMC), which will determine its benchmark interest rate the U.S. central bank said on Wednesday (27/1/2010) later.

Last Friday gold prices had fallen to touch 1081.90 U.S. dollars per troy ounce, its lowest level in five last week. The reason is the market concerns of President Barack Obama’s plan to limit movement of financial institutions in commodity exchanges. “Actually, the market is not too interested in determining the interest rate the Fed,” said Louis Lok, senior dealer at Bank of China Hong Kong.

According to him, the gold price will move in the range of 1085-1110 U.S. dollars per troy ounce until the Fed announces its reference interest rate. Correction that occurred in last week to investors hunt for gold again.

The price of gold contracts for delivery in February 2010 in the United States rose 0.6 percent to 1101.70 U.S. dollars per troy ounce compared with the previous in Comex, the New York Mercantile Exchange (NYMEX) which for 1095.70 U.S. dollars per troy ounce.

Other precious metals prices, such as platinum and palladium, joined terkerek gold prices. The price of platinum in the cash market to reach U.S. $ 1556.50 per troy ounce and palladium 440 U.S. dollars per troy ounce.

The decline that had occurred in the gold market looks at the gold stock of SPDR Gold Trust GLD is an exchange-traded fund based on the world’s largest gold. As of January 26, 2010, gold stock owned SPDR Gold Trust GLD position has not changed from January 25, 2010, which is 1111.92 tons

Now is the time to buy oranges, gold, chicken meat, or eggs. All four of these commodities is the largest contributor to the deflation that occurred in January 2010 as prices decline significantly.
For mothers who like to collect the gold, it’s time to buy gold because the price was falling.

“For moms who love to collect gold, it’s time to buy gold because the price is going down,” said Head of the Central Statistics Agency (BPS) Rusman Heriawan said in Jakarta on Monday (1/2/2010), when the monthly report on inflation, exports, imports, and economic indicators other.

BPS report shows, from the 66 cities surveyed during January 2010, no one city or any district that experienced deflation. However, BPS was noted that some commodities are falling in price, ie, orange, gold, chicken meat, or eggs.

“As usual, the fruit is always a major factor of deflation. We also recorded a deflation in the clothing commodity groups,” said Rusman.

BPS has not seen any impact of the realization of the Free Trade Agreement China-ASEAN (CAFTA) which causes lower clothing prices. On that basis, the price of clothing is expected to further come down when CAFTA was implemented starting January 1, 2010.

“If the FTA before it is deflation, the clothing could have deflation in February 2010,” said Rusman.

Clothing by a deflation in January 2010 of 0.2 percent. Commodities that contributed to the deflation of personal items and clothing are gold jewelry, which is 0.04 percent.

Crude oil prices slumped world tips and perched dikisaran just USD73 per barrel level, in trading Wednesday (27/1/2010) local time, after the United States government reports (U.S.) about the decline in oil demand.

As reported by AFP on Thursday (28/1/2009) oil prices for the March contract fell $ 1, 04 to USD73, 67 per barrel, in trading the New York Mercantile Exchange (NYMEX). These levels are the lowest since December 14, 2009. While in London, the price of Brent for March contract fell $ 1, 05 to USD72, 24 per barrel on the ICE Futures.

Oil prices moved lower after the Energy Information Administration (EIA) reported a sharp decline in the reserves last week minyal. However, traders are also aware, fog and tidal wave in the Gulf of Mexico, which inhibit the transportation of oil to make oil reserves fell.

The EIA reported that gasoline demand fell 0.8 percent for more than four weeks, compared to the same period last year. Meanwhile, demand for distillate materials for the liquid oil and diesel fell 8.1 percent. Although the economy began to recover, but the number is still high unemployment and the rate of any industry is still weak.

Oil prices rose two-fold last year, although demand is still chaotic. Valero, the largest oil refinery company, Wednesday reported on this, it lost nearly $ 2 billion in 2009. And weak demand, forcing Valero and other oil pengilang stop some refinery operations.

PT Aneka Tambang Tbk (ANTM) recorded 9.84% decline in income in the year 2009. The growth of gold sales performance of 57.75% the company managed to restrain the rate of price decline by 33% ferronickel that makes ferronickel company revenues fell 40%.

This was conveyed in a company statement published on Tuesday (2/2/2010).

In the year 2009, ANTM recorded unaudited revenue of Rp 8.647 trillion, down 9.84% from the year 2008 amounting to Rp 9.591 trillion. Contribution biggest decline came from ferronickel income.

ANTM ferronickel production during 2009 as many as 12,550 tons, down 29% from the year 2008 as much as 17,566 tons. Ferronickel sales volume in 2009 of 14,191 tons, down 17% from the year 2008 as much as 17,025 tons.

The average price of ferronickel received by the company in 2009 amounted to U.S. $ 6,63 / lb, down 33% from the year 2008 amounted to U.S. $ 9.91 / lb. This causes ANTM ferronickel income was recorded at 2.106 trillion in 2009, down 40% from the year 2008 amounting to Rp 3.517 trillion.

ANTM nickel ore production in 2009 of 5.782 million wmt, down 12% from the year 2008 as many as 6.571 million wmt. Nickel ore sales volume of 4.901 million wmt, down 8% from the previous year as many as 5.342 million wmt. Revenue from the company nickel ore reached Rp 1.673 trillion, down 43.38% from the year 2008 amounting to Rp 2.955 trillion.

ANTM gold production in 2009 as much as 2626 pounds, down 7% from the year 2008 as much as 2832 kg. ANTM gold sales volume recorded at 12,893 kg, up 31% from the previous 9820 kg.

The average price of gold revenue the company earned U.S. $ 970.97 / toz, up 11% from the previous U.S. $ 873/toz. ANTM gold income in the export market was recorded at Rp 1.614 trillion, down 23% from the previous Rp 2.098 trillion.

But gold ANTM income in the domestic market reached USD 2.706 billion, soared 322% from the previous USD 641.011 billion. Total income ANTM gold in the domestic market and exports reached USD 4.321 trillion, up 57.75% from the year 2008 amounting to Rp 2.739 trillion.

This means that gold income portion of ANTM took 49.97% of total revenues in 2009 ANTM or contributed the highest contribution of ferronickel income than that of 40.67% and sales of nickel ore for only 19.34%.

An international rating agency Moody `s said, the president of Iceland refusal to approve a compensation agreement with London and The Hague in the collapse of Icesave bank country complicates the prospects of recovery.

Although Iceland is not downgraded or put on notice, as did the other ranking, Moody `s Investors Service said the move” has implications for credit is uncertain, but it would be difficult for any short-term plan (for Iceland) to get out of the economic crisis and finance. ” Read the rest of this entry »