Commodities News

Silver surges to a one-week high

Silver followed golds trend and and hit a one-week high today supported by the weaker dollar. The greenback lost positions versus the Japanese yen and euro yesterday, thus shooting gold and silver prices up. On the New York Mercantile Exchange silver futures for July delivery were up 0,95% on the day and traded at $22.66 […] Read more

Brent oil with a 1-month record slide (updated)

Brent oil dropped on Wednesday by $1.80, its biggest fall since May 1. Oil prices fell to nearly $101 per barrel today amid disappointing U.S. GDP growth data. Gross Domestic Product for the first quarter was revised downwards to 2.4% compared to the 2.5% growth forecast. Initial jobless claims were more than forecast and equaled […] Read more

WTI crude near a four-week low

WTI crude traded near a four-week low after an industry report by the American Petroleum Institute yesterday showed gasoline inventories rose 1,9 million barrels, compared to forecasts of a 100 000 barrels increase. Distillate products rose by 3,1 million barrels, way above the expectations for a lack of volume change. After the settlement on Wednesday, […] Read more

Gold above $1400

Gold futures for August delivery gained 1.3%, reaching highest level since May 22 and traded at $1 410,40 a troy ounce as stocks and the greenback retreated. Spot gold traded at $1 411, 27 an ounce, up 1,3%. The dollar lost positions versus the Japanese yen and euro yesterday, thus shooting gold prices up. Nevertheless, […] Read more

Natural gas under pressure

Natural gas dropped 1.35% today on the New York Mercantile Exchange and traded at $4,107 per million British thermal units. Futures came under selling pressure as the June contract expires at the end of Wednesdays trading session. Earlier it fell by 1.5% and traded at the lowest price since May 21 at $4,102. Contract expiration […] Read more

Wheat drops amid favorable crop conditions

Wheat for July delivery dropped 0,4% to $6,9075 a bushel on the Chicago Board of Trade, following a 5.5% slump in prices for the month. Prices are pressured by weather forecasts favorable for wheat cropping. Rains in central and eastern areas of the U.S. and in western Australia will be recharging soil moisture, which will […] Read more

Gold gains as dollar slides

Gold futures for August delivery were 0,5% up on the day on the Comex division of the New York Mercantile Exchange and traded at $1 386,25 a troy ounce, following a 0,8% surge earlier in the day. Golds gain was supported by the weakened dollar, which lost positions against the euro and the Japanese yen. […] Read more

Copper falls amid concern of China’s economy slowing down

Copper fell on the London Metal Exchange following the International Monetary Funds prediction Chinas economy will grow below forecasts. The Asian nations economy is poised to grow 7,75% according to the IMF, down from 8%. The Organisation for Economic Co-operation and Development also cut its forecast to 7,8% from 8%. China is the metal’s biggest […] Read more

Corn at a three-week high (updated)

Corn reached a three-week high as the report by the U.S. Department of Agriculture showed yesterday corn crop planting pace was slowed down due to excessive rains. Parts of Iowa, Missouri, Illinois and South Dakota had 15 centimeters of rain. Nevertheless, farmers made good progress last week. The front-month July corn contract reached a three-week […] Read more