Commodities News

Gold rises on physical demand

Gold rose on Friday and extended yesterdays gains as prices, which retreated from a three-week high, spurred speculation physical demand may increase. The precious metal was also supported by a weaker dollar following Bernankes testimony. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery traded at $1 286.65 an […] Read more

Natural gas surges more than 4% following EIA’s report

Natural gas rose more than 4% in early U.S. Trading after the Energy Information Administration said in its weekly report that U.S. natural gas stockpiles rose below expectations last week. On the New York Mercantile Exchange, natural gas for August delivery surged to $3.790 per million British thermal units at 14:57 GMT, up 4.42% on […] Read more

WTI gains on positive U.S. data

West Texas Intermediate surged above the $107 mark during the early U.S. session as the Labor Department reported a drop in people who filed for unemployment benefits, indicating economic recovery. The Philadelphia Fed Index also surpassed expectations. On the New York Mercantile Exchange, WTI crude for September delivery traded at $107.26 a barrel at 14:12 […] Read more

Soft futures edge higher, sugar on one-week high amid unfavorable weather conditions in Brazil

Soft futures gained throughout Thursday with sugar hitting a one-week high, while arabica coffee advanced to the highest level since May 20. On the ICE Futures U.S. Exchange, sugar futures for October delivery traded at $0.1628 per pound at 12:30 GMT, up 1.24% on the day. Prices held in range between days high at $0.1629, […] Read more

Grain futures mixed, corn at a one-week low amid favorable weather conditions

Grain futures were mixed on Thursday with wheat advancing, while soybeans declined and corn hit a one-week low. On the Chicago Board of Trade, corn futures for September delivery traded at $5.3425 a bushel at 11:23 GMT, down 0.73% on the day. Prices held in range between days high at $5.3663 and low of $5.3313 […] Read more

Copper falls on QE outlook

Copper swung between gains and losses on Thursday, extending this weeks decline following Ben Bernankes testimony to Congress on Wednesday. The Fed Chairman stated the U.S. economy currently needs Fed’s accommodative monetary policy in the foreseeable future and it can even be accelerated, if recovery slows its pace. However, he reinforced Fed’s view that Quantitative […] Read more

Gold falls on stronger dollar

Gold fell on Thursday as the dollar strengthened following Ben Bernankes testimony to Congress on Wednesday where he reinforced Feds view that Quantitative Easing is still expected to be tapered within the year and brought to an end by mid-2014, if the requirements are fulfilled. However, the Fed chief stated the U.S. economy currently needs […] Read more