Commodities News

Gold falls on gaining dollar, FOMC meeting in focus

Gold fell on Tuesday amid stronger dollar. Market players remained cautious ahead of the outcome of Feds two-day meeting, which should provide further information of when the central banks monetary easing program will be tapered. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1 324.15 per […] Read more

Copper falls on slowing growth of Chinese provinces

Copper fell on Tuesday as China reported most of its provinces economic growth during the first half of the year underperformed expectations, spurring concern over faltering demand for the metal in the worlds top consumer. On the Comex division of the New York Mercantile Exchange, copper futures for September delivery traded at $3.087 a pound […] Read more

Grain futures edge higher, Japan resumes Oregon wheat imports

Grain futures advanced on Tuesday with corn rebounding from Tuesdays 34-month low as some investors covered short positions. Meanwhile, wheat gained as Japan lifted the suspension on Oregon wheat imports as a system was introduced that will detect the unapproved strain before the cargo is shipped from the U.S. On the Chicago Board of trade, […] Read more

Oil plunges back after erasing earlier losses

West Texas Intermediate returned to the red side of the scale amid weak U.S. housing data. Pending Home Sales eased off a 6-year high in June, spurring concern over the U.S. economic recovery. Earlier in the day, oil erased prior losses and traded on the upside as concern over supply from the Middle East pushed […] Read more

Natural gas extends 20-week drop on cool weather

Natural gas fell more than 3% on Monday and touched its lowest level since February as weather forecasters predicted below-normal temperatures across key consuming areas. On the New York Mercantile Exchange, natural gas for September delivery marked a new days low at $3.429 per million British thermal units at 14:11 GMT, down 3.77% on the […] Read more

Saudi Arabia oil export revenue jumps 5%, American output in future focus

The Organization of Petroleum Exporting Countries said in its Annual Statistical Bulletin today that Saudi Arabias revenue from exports of crude oil and other petroleum products rose by 5.3% in 2012 to $336.1 billion, up from the preceding years $319.1 billion. However, income from outbound shipments surged at a much slower pace than 2011 it […] Read more

Grain futures mixed, corn rebounds off 33-month low

Grain futures were mixed on Monday with wheat marking minor daily gains and corn rebounding off a new 33-month low, while soybeans plunged to lowest since February 2012 amid favorable weather. On the Chicago Board of Trade, corn futures for September delivery traded at $4.9313 a bushel at 11:34 GMT, up 0.39% on the day. […] Read more

Copper on a three-week low on China demand concern

Copper fell on Monday and extended last weeks decline on renewed concern over demand from top consumer China as profits earned by Chinese industrial companies in June rose less year-on-year compared to the previous month. On the Comex division of the New York Mercantile Exchange, copper futures for September delivery traded at $3.094 a pound […] Read more

Gold rallies amid weaker dollar, FOMC meeting in focus

Gold gained during early European trading as a weaker greenback supported dollar-denominated commodities. Market players are awaiting this weeks key U.S. data and news from the two-day FOMC meeting in order to gauge the U.S. economys recovery pace and possibly get a date for when deceleration of Feds Quantitative Easing program will start. On the […] Read more