Commodities News

Gold extends gains on downbeat U.S. construction and sentiment data

Gold extended gains on Friday and hit a new two-month high as overall disappointing U.S. economic data dampened speculations that the Federal Reserve may begin winding down its monetary easing program sooner-than-expected. On the Comex division of the New York Mercantile Exchange, gold futures for delivery in December rose to $1 366.30 per troy ounce […] Read more

Natural gas seen rising on hotter weather next week

According to a Bloomberg survey, natural gas prices will probably advance next week as weather forecasting models point at hotter weather, thus improving the fuels demand outlook. On the New York Mercantile Exchange, natural gas for September delivery fell to $3.371 per million British thermal units at 13:58 GMT, down 1.42% on the day. Prices […] Read more

Grain futures mixed, soybeans en route to best week in a year as unplanted soybean areas grow

Soybeans are poised to post their best weekly performance in more than a year amid dry weather and as the USDA reported that unplanted areas, which were originally planned for soybean planting, increased. Corn declined, while wheat erased prior daily losses. On the Chicago Board of Trade, soybeans for delivery in September traded at $12.8788 […] Read more

Copper rises on recovering U.S. economy, postponed shipments to China

Copper hit a three-month high on Friday, marking a ninth consecutive daily advance, on signs of a still fragile but improving U.S. economic activity. Meanwhile, premiums for imported copper in China, worlds top consumer, remained near all-time highs following delays and disruptions of shipments. On the Comex division of the New York Mercantile Exchange, copper […] Read more

Gold extends gains on increased demand, drop in stocks

Gold rose to a two-month high on Friday, marking a seventh day of gains in eight, and is set for the best week in five as sales from ETPs slowed and on signs of increased demand. Silver gained, while platinum and palladium fell. On the Comex division of the New York Mercantile Exchange, gold futures […] Read more

Oil gains on geopolitical turmoil, QE outlook in focus

Both WTI and Brent benchmarks gained in early European trading on Friday and remained on track for posting a weekly advance amid persisting clashes between Egypts military forces and protesters supporting ousted Islamist President Mohamed Mursi. The conflict fueled concern over spreading to neighboring oil producing countries and endangering the flows and shipments of oil […] Read more

WTI extends losses as low refinery utilization offsets drop in crude reserves

Oil prices extended losses on Wednesday as the Energy Information Administration said in its weekly oil inventories report that refineries operated at the lowest rate since June. This offset news that crude reserves fell more than analysts projected. Gasoline stockpiles also declined and distillate fuel inventories jumped, generally in line with expectations. On the New […] Read more

Gold at session high following disappointing U.S. PPI data

Gold advanced in late European and early U.S. trading on a weaker dollar as disappointing producer inflation spurred speculation over delaying the imminent deceleration of Feds Quantitative Easing program amid concerns that deflation could harm the fragile U.S. economic recovery. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery […] Read more

Grain futures edge lower, corn rebounds on frost concern

Grain futures were mixed on Wednesday with wheat and soybeans declining, while corn rebounded from yesterdays three-year low on concern dry weather and frost may damage crops. On the Chicago Board of Trade, corn futures for September delivery traded at $4.5650 per bushel at 9:42 GMT, up 0.11% on the day. Prices held in range […] Read more