The price of oil and other commodities has a direct impact on the global economy and provides insight into the future direction of equity prices. As a result, many traders and investors alike closely follow commodity prices. One app that allows you to do this is BlackGold for the iPad. With it you can track a number of commodities, including light sweet crude oil, Brent crude oil, natural gas, gold and silver. In addition BlackGold provides news on specific industries—oil, gas, gold, etc.—and gasoline-related news items, as well as commodities charts.
The iPad version of the app can be purchased from iTunes for $2.99 (there is a free version for the iPhone and iPod touch). When you first open BlackGold, it opens to the Tracklist screen with a list of all the commodities you can track, a current quote and chart for the commodity selected and news items related to the selected commodity. Currently BlackGold tracks 12 commodity symbols. One glaring drawback is that you cannot customize the list of commodities or add new symbols.
The 12 commodities BlackGold tracks are broken into categories—natural gas, heating oil, crude oil, Brent crude, gold and silver. You can rearrange the list, depending on your preferences. You can set the app to fetch new data at fixed intervals, or you can manually refresh the data.
When you tap a commodity from the listing, you are presented with the last trade, the time of that trade, the price and percentage change for the trading day, and the high and low prices for the trading day. An intraday chart from Yahoo! Finance is also provided. You can choose between a one- or a five-day intraday chart or line, bar or candlestick charts. You have the option of full-screen chart viewing. There are also “Legacy Charts” from Kitco.com with price data spanning from 30 days to 10 years.
Tapping on a headline under Related News will take you to the full story from such sources as Yahoo! Finance, Forbes, The Wall Street Journal, Bloomberg and Reuters.
At the BlackGold App’s Gasoline screen, you will find average gasoline prices, provided by AAA, for regular, mid, premium and diesel for all 50 states and the District of Columbia. In addition you can compare state averages to the national averages and retrieve gasoline-related news items.
Obviously, not everyone is interested in commodities trading. Therefore, this app caters to a select group of investors. However, if you are someone who is interested in oil and precious metals, BlackGold may be worth considering. The app itself has a clean layout and is easy to navigate. As noted above, the ability to customize the commodities tracked would be a significant improvement.
BlackGold iPad Edition