Yemen conflict affects commodity trade

The tension in Yemen seriously hurt the commodity trading markets because of the key position of the nation on the geopolitical map around the world.Yemen just has .2% in the world oil reserves and may not seriously hurt the oil demand, but the key position of the nation on one of the most important routes for maritime transport definitely will seriously affect the trading worldwide.

The commodities trends turned down during the last times of the last week and reported serious retreats, because the gold futures lost 4.9% in Friday and WTI oil lost additional 5.%. The gold reached a 3-week high, as presented particularly strong in the earlier two sessions once the decline in stocks and tensions in Yemen supported the interest in investment havens. The gold with April delivery yesterday fell with .5% to 1,199.80 USD per ounce for the week is an increase of 1.3%. The futures of Silver with May delivery also fell by .4% to 17.07 USD per ounce, but in the week there seemed to be a growth of 1.1%.

Meanwhile the crude oil crude oil futures on Friday initially in six sessions since, but ended a few days having a growth and development of 5%. Meanwhile, data revealed that the quantity of active probes for oil and gas fell from the 16th week in a row, but temat of decline has slowed. The buying price of US oil fell yesterday by 5% to a degree of 48.87 a barrel, but in the week has risen by 4.9% after an increase of 4.5 percent on Thursday. The Brent oil fell by 4.7% on Friday to 56.41 USD per barrel, limiting growth for the week to about 2%.

"The main strength of your Moving development in gold in the last couple of weeks is quantitative easing program of the ECB", said Colin Chiezzhinski, chief market strategist at CMC Markets. "The comments by ECB President Mario Draghi that the program is certainly going well so far, keep the gold."

Increase in the precious metal has become recently backed by the depreciation of the USD, The buying price of gold will not react particularly Friday data from USA, which confirmed that economic growth in the fourth quarter slowed to 2.2%.