Commodities News

Silver crumbles to a 33-month low

Silver followed golds direction down the stream and even outperformed its steep decline, falling 7.5% to hit a 33-month low. On the Comex division of the New York Mercantile Exchange, silver futures for July delivery traded at $20.023 an ounce at 9:41 GMT, down 7.40% on the day. The precious metal dropped to $19.890 an […] Read more

Copper near a two-month low on China slowdown and QE outlook

Copper made a deep plunge on Thursday on U.S. and China news. Ben Bernanke announced on Wednesday Feds monetary stimulus will probably be tapered within the second half of the year and Chinas preliminary HSBC PMI hit its lowest level since September. On the Comex division of the New York Mercantile Exchange, copper futures for […] Read more

Oil falls on QE outlook and China slowdown (Update)

Both WTI and Brent crude dropped near 2% on Thursday following an unexpected rise in Crude Oil Inventories and latest Quantitative Easing outlook. On Wednesday, Fed chairman, Ben Bernanke, announced the central banks monetary stimulus might come to an end within a year, if the economys recovery is in line with projections. In addition, partial […] Read more

Gold sinks to a two-and-a half-year low on QE outlook

Gold continued its steep decline in the early European session after yesterday Ben Bernanke, Fed chairman, announced that the central bank wont scale down its monetary easing program just yet, but that is highly possible to happen within the end of the year, provided the needed stable recovery signs. Also, Fed is likely to end […] Read more

Oil reserves rise against expectations

The Energy Information Administration said in its weekly report that Crude Oil Inventories rose by 0.313 million barrels as of the week ending June 14. This is above the average range for this time of the year. Gasoline inventories rose by 183 000 barrels last week, also above the average. Distillate fuel inventories dropped by […] Read more

Gold off three-week low

Gold gained on Wednesday, rebounding from a three-week low to which the precious metal dipped yesterday following U.S. data that showed low and steady inflation rate. On the Comex division of the New York Mercantile Exchange, gold futures for August delivery were on the green side of the scale, gaining 0.30% for the day. The […] Read more

Soft futures mixed

Soft futures were mixed on Wednesday. Sugar, cocoa and cotton slipped, while arabica and robusta coffee marked daily gains. On the ICE Futures U.S. Exchange, arabica coffee futures for September delivery traded at $1.2408 a pound at 12:21 GMT, up 0.40% on the day. Prices ranged between daily high and low at $1.2413 and $1.2343 […] Read more

Copper remains steady but low ahead of Fed meeting

Copper remained mostly unchanged on Wednesday after hitting a one-and-a-half month low yesterday as concerns arose Fed might scale back its monetary stimulus after one of the next FOMC meetings. Grim demand outlook from the industrial metals top consumer, China, also keeps weighing on prices. On the Comex division of the New York Mercantile Exchange, […] Read more

Grain futures mixed, corn drops on supply outlook

Grain futures were mixed on Wednesday with wheat and soybeans trading slightly higher on the day, while corn made a moderate plunge for the first time in three days as favorable weather forecasts supported crop developing. On the Chicago Mercantile Exchange, corn futures for July delivery lost 0.56% on the day, standing at $6.6925 a […] Read more

Natural gas extends gains amid warm weather forecasts

Natural gas gained for a third consecutive day on Wednesday after weather forecasts continued to show above-normal temperatures in the U.S. over the next week. On the New York Mercantile Exchange, natural gas for July delivery gained 0.40% on the day. The fuel traded at $3.921 per million British thermal units, ranging between daily high […] Read more