Watch the interview of Mark Keenan of Societe Generale and Peter McGuire of xm.com with Manisha Gupta on CNBC-TV18. They speaks about the current trends and the way ahead in the commodities market.
Brent crude oil won't tumble below USD 30 a barrel because of failed Doha talks, say Edward Morse, Global Head-commodities at Citi and Mark Keenan, Head of Commodity Research-Asia, Societe Generale.
Mark Keenan of Societe Generale has good and bad news for oil and gold.
Just this week, global oil prices have dropped almost 10 percent amid mounting worries about a supply glut.
Expectations that oil demand could increase towards the end of this month - even though US crude stocks increased more than expected last week - also helped to support prices.
Copper is used as a security by Chinese firms for raising loans, but a 14 percent drop in copper's value this year is becoming a cause of concern for banks.
Geopolitical tensions in Ukraine have resulted in analysts talking about its impact on gold prices. Mark Keenan, Head of Commodities Research - Asia, Societe Generale continues to remain bearish on gold in the long-term. But near term, it could head to USD 1,400/oz, he says.