August 30, 2013 8:21 am
Gold extended losses after Thursdays upbeat U.S. data supported the case for Fed to decelerate its monetary easing program. Easing concern over an U.S.-led attack against the Syrian regime reduced demand for the metal as a safe haven for wealth storage after the U.K. parliament rejected Prime Minister David Camerons proposal for an intervention in […]
Read moreAugust 30, 2013 7:30 am
West Texas Intermediate dropped for a second day as the U.K. parliament rejected a motion for military action in Syria, which eased concern over an imminent attack against Assads regime. Prices were also pressured as OPEC boosted its output in August, with Saudi Arabia and UAEs production hitting a 24-year high. On the New York […]
Read moreAugust 29, 2013 2:47 pm
Natural gas futures erased previous daily gains and retreated toward negative territory following a bearish EIA weekly report, which showed U.S. stockpiles rose more than the five-year average. On the New York Mercantile Exchange, natural gas for October delivery plunged to $3.521 per million British thermal units at 14:51 GMT, down 1.72% on the day. […]
Read moreAugust 29, 2013 1:37 pm
Gold extended losses on Thursday following the release of upbeat U.S. GDP and jobless claims data, which spurred speculation that the Federal Reserve may being decelerating its monetary easing program in as early as September. On the Comex division of the New York Mercantile Exchange, gold futures for December delivery traded at $1 406.50 per […]
Read moreAugust 29, 2013 11:39 am
Grain futures edged lower during the European session on Thursday. Soybeans and corn remained fairly unchanged, while wheat made a moderate retreat amid ample global supply outlook. On the Chicago Board of Trade, corn futures for December delivery traded at $4.7913 per bushel at 11:36 GMT, down 0.27% on the day. Prices ranged between days […]
Read moreAugust 29, 2013 9:41 am
Natural gas rose on Thursday as weather forecasts turned to above-normal temperatures in most of the U.S., thus boosting demand for the power plant fuel. Market players eyed the upcoming weekly U.S. natural gas storage report by the Energy Information Administration at 14:30 GMT. On the New York Mercantile Exchange, natural gas for delivery in […]
Read moreAugust 29, 2013 9:23 am
Copper swung between gains and losses on Thursday as escalating tension in Syria which limited demand for riskier assets was weighed against the upcoming U.S. GDP data that might show the worlds biggest economy has expanded more than previously estimated in the second quarter. On the Comex division of the New York Mercantile Exchange, copper […]
Read moreAugust 29, 2013 8:14 am
Gold fell for the first time in six days as a stronger greenback pushed dollar-denominated commodities down amid expectations that Thursdays U.S. data will back the case that the Federal Reserve will begin tapering its monetary easing program in September. The metals relative strength index suggested that prices are poised to decline. On the Comex […]
Read moreAugust 29, 2013 7:09 am
Both WTI and Brent benchmarks retreated from yesterdays multi-month highs as the Energy Information Administration reported that U.S. crude stockpiles gained for the first time in August last week. Possible U.S. intervention in the Syrian civil war continued to underpin the market as investors awaited the outcome of the U.N. probe in the areas of […]
Read moreAugust 28, 2013 2:54 pm
Oil prices held their gains despite easing from multi-month highs after the Energy Information Administration reported in its weekly published data that U.S. crude oil reserves gained more than analysts expected in the week ending August 23. Gasoline and distillate fuel stockpiles however declined. Refineries operated at a higher rate and crude production rose to […]
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