Commodities News

Gold fluctuates on QE outlook, increased demand

Gold swung between gains and losses in a calm trading session on Wednesday as investors weighed an earlier-than-expected deceleration of Feds monetary stimulus against increased physical demand. On the Comex division of the New York Mercantile Exchange, gold futures for delivery in September traded at $1 321.10 per troy ounce at 8:16 GMT, up 0.05% […] Read more

Oil lower on ahead of EIA report, supply disruptions support

Oil prices dipped on Wednesday as the American Petroleum Institute reported a drop in crude oil inventories below 1 million barrels, while gasoline and distillate fuel stockpiles rose. Meanwhile, expectations for a positive reading of the Euro zones preliminary GDP growth in the second quarter, coupled with persisting supply disruptions in Libya and Iraq , […] Read more

Gold retreats on stronger dollar following retail sales data

Gold erased its previous daily gains and retreated to negative territory as mixed U.S. retail sales data spurred concern over an imminent deceleration of Feds monetary stimulus, thus boosting the greenback. Silver, platinum and palladium trimmed gains. On the Comex division of the New York Mercantile Exchange, gold futures for delivery in December traded at […] Read more

Grain futures extend gains after USDA cut crop forecasts

Grain futures extended Mondays gains on Tuesday after the U.S. Department of Agriculture cut its corn and soybeans output and yield-per-acre forecasts, while wheat estimate remained unchanged. On the Chicago Board of Trade, corn futures for delivery in September traded at $4.7350 a bushel at 12:12 GMT, up 0.32% on the day. Prices ranged between […] Read more

Copper gains for a sixth day on strong EU data

Copper advanced for a sixth day on Tuesday as upbeat economic data from the Euro zone, the third biggest consumer of the metal, boosted demand prospects. Optimism over the stabilizing economic activity in China and expectations for positive retail sales and industrial production in the U.S. also supported prices. On the Comex division of the […] Read more

Gold steady ahead of U.S. retail sales data

Gold remained fairly unchanged in a calm trading session on Tuesday as market players await the release of U.S. retail sales figures later in the day. Gains were capped by a stronger dollar and after four day of advances began to threaten demand. Silver and platinum hit two-month highs. On the Comex division of the […] Read more

WTI at one-week high ahead of inventories data, Libya in focus

West Texas Intermediate crude rose for a second day as market analysts expect a sixth weekly drop out of seven to be reported this Wednesday. On Monday, protesters shut back down Libyas two biggest crude oil export terminals, hours after they had reopened, which was followed by the closure of more oilfields as a sign […] Read more

Natural gas extends gains on warm weather forecasts

Natural gas extended its rally on Tuesday as updated weather forecasting models continued to point at the beginning of a warming trend across the northern and eastern parts of the U.S. through late August. On the New York Mercantile Exchange, natural gas for September delivery surged to $3.324 per million British thermal units at 6:30 […] Read more

WTI plunges to negative territory on stronger dollar, weak Japan data

West Texas Intermediate erased previous daily gains and traded on the downside as a stronger dollar weighed on dollar-denominated commodities. Meanwhile, slower than expected economic growth in Japan spurred concern over demand prospects in the worlds third biggest consumer. Brent fell as well. On the New York Mercantile Exchange, WTI crude for September delivery fell […] Read more

Copper fluctuates on weaker Japan growth, China optimism

Copper swung between gains and losses on Monday as slower than expected Japan GDP growth spurred concern over demand in the worlds third biggest economy. Meanwhile, last weeks positive data from China laid support on the metal, boosting demand prospects in the worlds top consumer. Quantitative Easings outlook also remained in investors focus. On the […] Read more