Salient to Investors: IEA Chief Economist Fatih Birol said: The U.S. will be the largest oil producer of the world around 2017, the largest producer for about five years starting about 2020, after which Saudi Arabia will become the biggest producer again by 2030. US oil imports will drop to 4 million
READ MORE... →Salient to Investors: The IEA said: The US will overtake Saudi Arabia as the world’s leading oil producer by about 2017 and will become a net oil exporter by 2030, and become all but self-sufficient in meeting its energy needs in about two decades. Global energy demand will grow between 35 and 46
READ MORE... →Salient to Investors: The IEA says natural gas will overtake oil as the most-used fuel in the US by 2030. Unconventional gas, extracted from shale and coal beds etc, will account for almost half of the increase in global output of the fuel by 2035. US production will rise 23 percent
READ MORE... →Salient to Investors: CTFC said hedge funds et al cut combined net-long positions across 18 U.S. futures and options by the most since June 5 and for the fifth week, the longest slump since April. Gold wagers fell to the lowest since August. Adam De Chiara at CoreCommodity Mgmt said the tailwind
READ MORE... →Salient to Investors: A Bloomberg Industries index of 20 mid-tier gold miners has risen 1.3 percent in the past 3 versus a 19 percent decline in an index of 14 senior gold miners. Craig West at GMP Securities said intermediate gold miners offer more upside. Read the full article at http://www.bloomberg.com/news/2012-11-09/barrick-gold-s-former-chief-sees-virtue-in-being-small.html
READ MORE... →Salient to Investors: Gerrit Zambo at Bayerische Landesbank said the downside risk is higher than to the upside potential as there is still a chance of a mild recession and the oil market is saturated with supply. Crude in New York is in a downtrend channel on the daily chart, while futures have traded between
READ MORE... →Salient to Investors: Gold traders are the most bullish since Aug. 24. ETP holdings account for almost a year of mine production. Gold rose 70 percent as the Fed bought $2.3 trillion of debt in two rounds of quantitative easing from December 2008 through June 2011. Gold is headed for a 12th
READ MORE... →Salient to Investors: Fred Schoenstein at Heraeus Precious Metals Management is bullish on gold because we’ll have quantitative easing for a while, though gold is squelched for the moment because the jobless numbers were better than expected. Read the full article at http://www.bloomberg.com/news/2012-11-08/gold-rises-as-investors-increase-etp-holdings-to-all-time-high.html
READ MORE... →Salient to Investors: James Dunigan at PNC Wealth Mgmt said the fiscal cliff is going to be very messy, though we’ll get there. Alan Greenspan said the election perpetuated the political status quo and hasn’t increased the probability of resolving the fiscal challenges. Barry Knapp at Barclays recommended cutting risk, and lowered his estimate for the S&P 500
READ MORE... →Salient to Investors: Hedge funds cut bullish wagers on commodities by the most since June, copper holdings fell to an eight-week low, gold wagers are the smallest since September, and oil the lowest in four months. Sales trailed estimates at 59 percent of US companies that released Q3 results through Nov. 2. Rob Haworth at US
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