Jonathan Barratt of BarrattsBulletin.com believes demand fears along with strong dollar may have impacted Brent prices. In addition, further sanctions against Russia could hurt oil demand.
In an interview to CNBC-TV18‘ Ekta Batra and Latha Venkatesh, Jonathan Barratt of barrattsbulletin.com spoke about the current trend in commodities market.
According to Jonathan Barratt, if Libya does not find a solution to its ongoing crisis and the problem escalates further, then Brent may go back to its higher levels of USD 112-115 per barrel.
According to Jonathan Barratt, Brent is trading at the top of its range right now and if there is an increase in demand, that commodity can breach USD 112.50/bbl and may touch USD 115/bbl.
Jonathan Barratt, Barrattsbulletin.Com, is not surprised at the Fed‘s decision. He cautions of higher commodity prices and pressure on USD.
Jonathan Barratt, BarrattsBulletin.com feels although Syria does not produce oil there could be a contagion risk for the entire region.
Jonathan Barratt, BarrattsBulletin.com sees Brent crude heading back to USD 100-105 a barrel since the demand remains muted.
Jonathan Barratt, CEO, barrattsbulletin.com, feels if the market can hold on current USD 1,330-1,334 per ounce levels, then gold can go on to trade at USD 1,370-1,380 to 1,420 per ounce
The stimulus is not translating into demand for crude or we are just producing too much of it in lieu of some unforeseen concern that we might have in the Middle East.
Jonathan Barratt, CEO, BarrattsBulletin.com believes that the recent fall in gold was largely due to a technical sell-off. Keeping a check on the way gold has been trading at the moment, he feels that Asia and particularly Europe is interested in buying it, whereas America is looking to sell it.
Jonathan Barratt of Barrattsbulletin.com thinks investors at the moment are trying to divest from gold and investing in other assets which are offering good returns.
Jonathan Barratt of BarrattsBulletin.com feels the traditional cues should actually support gold prices and eventually, it will go up.However, he is not very optimistic about gold in 2013 and believes gold will probably not touch the USD 2000 per ounce mark.
Jonathan Barratt, CEO of barrattsbulletin.com believes the concerns in the Middle East will give support to crude oil prices. According to him, gold is going through a consolidation phase currently and the key level for the golden metal would be USD 1800 mark.
Falling prices of crude has created some concern in the market and Jonathan Barratt, CEO of Barrattsbulletin.com feels it is an interesting move. According to him, Brent has a good support at USD 105 per barrel and he expects it to move up to USD 115-117.
Jonathan Barratt, chief executive officer, barrattsbulletin.com says, Brent crude has resistance at USD 107.20 per barrel. "I would like to see break of USD 107.20 per barrel. Once we get that then USD 110 per barrel is just around the corner," he adds.
In an interview with CNBC-TV18, Jonathan Barratt, CEO and Chief Economist of Barrattsbulletin.com said that most negatives have been factored in crude prices and there is not much scope of crude declining from its current levels.
Jonathan Barratt of BarrattsBulletin.com tells CNBC-TV18 that both Brent crude and gold will trade higher from current levels.
According to Shreekant Jha, managing director at PJ Commodity Ventures, the yellow metal can touch Rs 29,500 per 10 gm in the immediate future.
In an interview to CNBC-TV18, Jonathan Barratt of barrattsbulletin.com is positive on gold and sees its heading towards its 2012 all time-highs.
Jonathan Barratt, CEO, BarrattsBulletin.com tells CNBC-TV18 his outlook for crude and base metals.
Jonathan Barratt, CEO, barrattsbulletin.com tells CNBC-TV18 he is cautious on select global commodities. He gives his outlook on gold, copper and crude from the commodity basket.