Commodities News

Gold at three-week low on Fed stimulus outlook

Gold fell to a three-week low on Wednesday amid speculation Fed will begin tapering its monetary easing program in the second half of the year and most likely after FOMCs September meeting, according to Fed Chicago President Charles Evans. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded […] Read more

Oil fluctuates ahead of EIA data, easing global supply concern

Oil prices swung between gains and losses and remained fairly unchanged through the early European session. Investors await the Energy Information Administrations weekly U.S. crude oil inventories report, which is poised to show a drop in reserves to the lowest level since January. Meanwhile, prices remained pressured as concern over supply continued to ease as […] Read more

Gold extends losses on U.S. data, Fed comments

Gold fell to a three week low on Tuesday as more upbeat U.S. data reinforced speculation that the Federal reserve may begin tapering its bond purchasing program in the near future. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1 285.40 per troy ounce at 14:51 […] Read more

Natural gas rebounds on heat forecasts in Texas

Natural gas rebounded off a new 5-month low on Tuesday as weather forecasters predicted higher-than-normal temperatures in Texas in the upcoming weeks, thus boosting demand for the fuel. On the New York Mercantile Exchange, natural gas for September delivery traded at $3.327 per million British thermal units, up 0.24% on the day. Prices held in […] Read more

Grain futures mixed, corn rebounds from 3-year low

Grain futures were mixed but fairly unchanged on Tuesday, with soybeans slightly falling, while wheat marked a minor gain and corn rebounded from a new 3-year low. On the Chicago Board of Trade, corn futures for September delivery traded at $4.6938 a bushel at 10:15 GMT, up 0.17% on the day. Prices ranged between days […] Read more

Copper rises on declining stockpiles, gains capped on Fed comments

Copper rose on Tuesday amid decrease in Chinese stockpiles in the four months through July. Gains remained in check as Fed Dallas President Richard Fisher said yesterday the central bank is closer to tapering Quantitative Easing. On the Comex division of the New York Mercantile Exchange, copper futures for September delivery traded at $3.203 a […] Read more

Gold below $1 300 on Fed comments, U.S. data

Gold marked a second daily decline and fell below the $1 300 mark as Fed Dallas President Richard Fisher said yesterday the central bank is closer to tapering Quantitative Easing. Meanwhile, upbeat services sector data offset previous gains, which came after the U.S. Department of Labor reported worse than expected payrolls statistics last week. On […] Read more

Oil fluctuates on easing supply concern, EIA report in focus

Oil prices fell on Tuesday with concern over supply disruptions easing as Libyan Oil Minister Abdelbari al-Arusi assured the government is working to end the protests, while newly elected Iranian President Hassan Rouhani sought to start a dialogue with the U.S., aiming at resolving the issues over Tehrans nuclear program. EIAs weekly crude oil inventories […] Read more

Oil off session lows on ISM data

Oil rebounded from session lows but continued to trade lower after the Institute for Supply Management reported the U.S. services sector expanded at a faster pace in July than economists expected. Oil fell to days low earlier in the day as Libya reopened a port that was closed by protests. On the New York Mercantile […] Read more

Natural gas extends losses on mild weather outlook

Natural gas marked a ninth day of declines on Monday as weather forecasting services kept pointing at cooler than normal temperatures across key consuming areas in the U.S., limiting demand for the fuel that is used for electricity generation. On the New York Mercantile Exchange, natural gas for September delivery traded at $3.338 per million […] Read more