{"id":418650,"date":"2011-05-06T12:01:19","date_gmt":"2011-05-06T12:01:19","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/05\/06\/commodities-bubble-bursting\/"},"modified":"2011-05-06T12:01:19","modified_gmt":"2011-05-06T12:01:19","slug":"commodities-bubble-bursting","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/05\/06\/commodities-bubble-bursting\/","title":{"rendered":"COMMODITIES BUBBLE BURSTING"},"content":{"rendered":"
\n

\"oil,<\/a>Click chart for more commodities action.<\/strong><\/span> By Blake Ellis<\/a>, staff reporter<\/span>May 6, 2011: 7:52 AM ET<\/span><\/p>\n

NEW YORK (CNNMoney) — Commodities continued to sell off on Friday, with oil and silver sliding to their lowest levels since mid-March, as the dollar remained strong. Investors also remained on edge ahead of the government’s closely-watched jobs report.<\/p>\n

Oil slipped 3% early Friday to $96.85 a barrel. On Thursday, crude sank nearly 9%<\/a> — the biggest one-day percentage drop in two years.<\/p>\n

Crude prices neared $114 a barrel last month as fears about supplies took hold following escalating violence in Libya. But as investors got ‘accustomed’ to those concerns, oil prices became mired in a fairly tight range…until this week.<\/p>\n

In the past week, oil prices have tumbled more than 10% on worries that recent disappointing economic reports may mean we are in for an economic slowdown.<\/p>\n

Investors are already on edge ahead of Friday’s jobs report (due at 8:30 a.m. ET), with stocks taking a big hit<\/a> Thursday.<\/p>\n

Economists surveyed by CNNMoney predict the economy will have added 185,000 jobs in April. Employers boosted payrolls<\/a> by 216,000 jobs in March, so if the number falls within expectations, it would mean a slight slowdown in the pace of job growth.<\/p>\n

That weakness is in line with what other jobs reports this week have indicated. Earlier this week, payroll processing company ADP said private sector payrolls grew<\/a> by 179,000 in April, after an upwardly revised 207,000 increase in March. Economists were expecting a gain of 200,000 private sector jobs.<\/p>\n

The ADP jobs report typically set the tone for the government’s monthly jobs data. Meanwhile, on Thursday, a report showed jobless claims surged to the highest level in eight months.<\/p>\n

In other commodities, silver prices<\/a> slid 7% Friday, while gold ticked down slightly after dropping more than 2% on Thursday. Silver has taken a big hit after the CME raised its margin requirements, meaning traders have to leave more on the table to buy silver futures.<\/p>\n

The dollar remained higher against the euro early Friday, after the European Central Bank left interest rates unchanged on Thursday. The dollar gained nearly 2% on Thursday. Because crude prices are priced in dollars, a stronger U.S. currency tends to pressures commodities.<\/p>\n

Even gas prices declined on Friday, following a 44-day string of gains — during which the price of gasoline surged 12%<\/a>. The national average price for a gallon of gasoline fell one tenth of a cent to $3.984 on Friday, according to motorist group AAA.\u00a0\"To<\/a><\/p>\n<\/div>\n

Go here to read the rest:
\nCOMMODITIES BUBBLE BURSTING<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Click chart for more commodities action. By Blake Ellis , staff reporter May 6, 2011: 7:52 AM ET NEW YORK (CNNMoney) — Commodities continued to sell off on Friday, with oil and silver sliding to their lowest levels since mid-March, as the dollar remained strong. Investors also remained on edge ahead of the government’s closely-watched jobs report<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-418650","post","type-post","status-publish","format-standard"],"yoast_head":"\nCOMMODITIES BUBBLE BURSTING - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/05\/06\/commodities-bubble-bursting\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"COMMODITIES BUBBLE BURSTING - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Click chart for more commodities action. By Blake Ellis , staff reporter May 6, 2011: 7:52 AM ET NEW YORK (CNNMoney) -- Commodities continued to sell off on Friday, with oil and silver sliding to their lowest levels since mid-March, as the dollar remained strong. Investors also remained on edge ahead of the government's closely-watched jobs report\" \/>\n<meta name=\"twitter:image\" content=\"http:\/\/i2.cdn.turner.com\/money\/2011\/05\/06\/markets\/commodities_oil_silver\/oil-silver.top.png\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/06\/commodities-bubble-bursting\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/06\/commodities-bubble-bursting\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"COMMODITIES BUBBLE BURSTING\",\"datePublished\":\"2011-05-06T12:01:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/06\/commodities-bubble-bursting\/\"},\"wordCount\":418,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/06\/commodities-bubble-bursting\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/i2.cdn.turner.com\/money\/2011\/05\/06\/markets\/commodities_oil_silver\/oil-silver.top.png\",\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/05\/06\/commodities-bubble-bursting\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/06\/commodities-bubble-bursting\/\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/05\/06\/commodities-bubble-bursting\/\",\"name\":\"COMMODITIES BUBBLE BURSTING - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/06\/commodities-bubble-bursting\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/06\/commodities-bubble-bursting\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/i2.cdn.turner.com\/money\/2011\/05\/06\/markets\/commodities_oil_silver\/oil-silver.top.png\",\"datePublished\":\"2011-05-06T12:01:19+00:00\",\"author\":{\"@id\":\"\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.ghanamma.com\/2011\/05\/06\/commodities-bubble-bursting\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/05\/06\/commodities-bubble-bursting\/#primaryimage\",\"url\":\"http:\/\/i2.cdn.turner.com\/money\/2011\/05\/06\/markets\/commodities_oil_silver\/oil-silver.top.png\",\"contentUrl\":\"http:\/\/i2.cdn.turner.com\/money\/2011\/05\/06\/markets\/commodities_oil_silver\/oil-silver.top.png\"},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ghanamma.com\/2011\/#website\",\"url\":\"https:\/\/www.ghanamma.com\/2011\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ghanamma.com\/2011\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"COMMODITIES BUBBLE BURSTING - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2011\/05\/06\/commodities-bubble-bursting\/","twitter_card":"summary_large_image","twitter_title":"COMMODITIES BUBBLE BURSTING - Ghanamma.com","twitter_description":"Click chart for more commodities action. By Blake Ellis , staff reporter May 6, 2011: 7:52 AM ET NEW YORK (CNNMoney) -- Commodities continued to sell off on Friday, with oil and silver sliding to their lowest levels since mid-March, as the dollar remained strong. Investors also remained on edge ahead of the government's closely-watched jobs report","twitter_image":"http:\/\/i2.cdn.turner.com\/money\/2011\/05\/06\/markets\/commodities_oil_silver\/oil-silver.top.png","twitter_creator":"@ghanamma","twitter_site":"@ghanamma","twitter_misc":{"Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ghanamma.com\/2011\/05\/06\/commodities-bubble-bursting\/#article","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2011\/05\/06\/commodities-bubble-bursting\/"},"author":{"name":"","@id":""},"headline":"COMMODITIES BUBBLE BURSTING","datePublished":"2011-05-06T12:01:19+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ghanamma.com\/2011\/05\/06\/commodities-bubble-bursting\/"},"wordCount":418,"commentCount":0,"image":{"@id":"https:\/\/www.ghanamma.com\/2011\/05\/06\/commodities-bubble-bursting\/#primaryimage"},"thumbnailUrl":"http:\/\/i2.cdn.turner.com\/money\/2011\/05\/06\/markets\/commodities_oil_silver\/oil-silver.top.png","inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ghanamma.com\/2011\/05\/06\/commodities-bubble-bursting\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2011\/05\/06\/commodities-bubble-bursting\/","url":"https:\/\/www.ghanamma.com\/2011\/05\/06\/commodities-bubble-bursting\/","name":"COMMODITIES BUBBLE BURSTING - Ghanamma.com","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2011\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.ghanamma.com\/2011\/05\/06\/commodities-bubble-bursting\/#primaryimage"},"image":{"@id":"https:\/\/www.ghanamma.com\/2011\/05\/06\/commodities-bubble-bursting\/#primaryimage"},"thumbnailUrl":"http:\/\/i2.cdn.turner.com\/money\/2011\/05\/06\/markets\/commodities_oil_silver\/oil-silver.top.png","datePublished":"2011-05-06T12:01:19+00:00","author":{"@id":""},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ghanamma.com\/2011\/05\/06\/commodities-bubble-bursting\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.ghanamma.com\/2011\/05\/06\/commodities-bubble-bursting\/#primaryimage","url":"http:\/\/i2.cdn.turner.com\/money\/2011\/05\/06\/markets\/commodities_oil_silver\/oil-silver.top.png","contentUrl":"http:\/\/i2.cdn.turner.com\/money\/2011\/05\/06\/markets\/commodities_oil_silver\/oil-silver.top.png"},{"@type":"WebSite","@id":"https:\/\/www.ghanamma.com\/2011\/#website","url":"https:\/\/www.ghanamma.com\/2011\/","name":"Ghanamma.com","description":"News In Ghana - Latest Ghana News Headlines","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ghanamma.com\/2011\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/posts\/418650","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/comments?post=418650"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/posts\/418650\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/media?parent=418650"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/categories?post=418650"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/tags?post=418650"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}