Commodity Online – Gold prices had an excellent run last week, led by the extensive fall in the US dollar and strong rally in the equity markets. The rise in crude oil prices also resulted in lifting bullion.

The US currency showcased the biggest decline in a month against euro last week as US data showed that the world’s largest economy contracted lesser than forecasts, which hinted that the recession is fading and gave rise to investor demand in riskier counters such as commodities and equities.

The outlook is bright – the most active benchmark contract at the Comex has pulled off a strong recovery, ending at $953.70 near the resistance at $960, a break and close of which will take prices towards new highs of $966.70/oz and $970.40/oz, state traders.

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West Palm Beach (HedgeCo.net) – The California Air Resources Board has adopted the world’s first Low Carbon Fuel Standard (LCFS), once implemented it can dramatically reduce the environmental impact of transportation, the Environmental Defense Fund says.

The Environmental Defense Fund believes the standard is an important hedge against higher, future conventional fuel prices. By helping develop better and cheaper alternative fuel production methods, low carbon fuels will become increasingly more affordable than gasoline as increasing crude oil prices take hold, the fund believes.

"While achieving the 2020 goal will require expenditures, this measure is an investment that will yield extensive returns through fuel diversification, increased resilience to fuel price fluctuations, independence from foreign fuel sources, and development of emerging businesses."

The low-carbon fuel standard is an important tool to help California transform its fuel mix. When coupled with an economy wide cap on emissions that includes the transportation sector, the California Low Carbon Fuel Standard represents the ultimately cost effective and technologically feasible way to transform our transportation sector and meet carbon reduction goals.

Environmental Defense Fund, a leading national nonprofit organization, represents more than 500,000 members. Since 1967, Environmental Defense Fund has linked science, economics, law and innovative private-sector partnerships to create breakthrough solutions to the most serious environmental problems.

Alex Akesson

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