Commodities News

Gold Swings Back Following the Yen

Gold tracked WTIs upward momentum after the Japanese economy minister made a statement that a further weakening of the yen might harm growth. This led to an increased demand for the Asian nations currency and weakened the dollar, thus increasing precious metals price. The U.S. dollar tends to trade in an inverse relation to dollar-priced […] Read more

Gold Futures Fall to 5-week Low

Gold futures continued to drop for an eight day in a row. Together with the worst performing precious metal of the year – silver, gold sank 1% on the day and futures for July were traded at $1 351,05 as investors are awaiting Ben Bernankes statement about the future of the Quantitative Easing 3 program, […] Read more

Grain Futures Mixed

Soybean prices are climbing to an eight-week high following concerns over slower than usual soy crop planting. As of last week only 6% of the U.S. crop was planted, well below the 43% planted in the same week last year, according to the U.S. Department of Agriculture. Soybeans futures for July delivery rose 0,2% on […] Read more

Natural Gas Rallies After Mid-Week Drop

Natural gas futures hit a two-week high on Friday, May 17, following forecasts of above the average temperatures during the next two weeks in the central parts of the United States. When warm weather is expected, natural gas surges as increased electricity demand to power air-conditioning calls for more supply of the fuel, which is […] Read more

Silver Drops to Lowest Since 2010

Silver for July delivery plunged 2.1% on Friday and settled at $22.19 a troy ounce for the week, reaching its lowest price since October 5, 2010. Silver for immediate delivery dropped 7% to $20.6985 a troy ounce and its ration to gold rose to 64,89, although gold prices have kept following a bearish trend for […] Read more

Natural Gas to Remain Below $4

According to a KPMG LLP Global Energy Institute survey of U.S. energy executives natural gas will keep trading below $4 per million British thermal units for the rest of the year. Gas for delivery in June dropped yesterday to $3.932, which is a 12% decrease from the 2013 high on May 1 at $4.444. News […] Read more

Oil Probe Circle Widens (Updated)

Neste Oil Oyj, Finlands only refiner, joined the side of investigated oil companies by the European Commission. Neste announced it was asked to provide information about potential manipulation of global crude and biofuel markets. Representatives said the company is not a target of the investigation and will cooperate. Statoil ASA, one of the investigated refiners, […] Read more