Commodities News - Part 343

Gold Gains Limited By U.S. Data

May 29, 2013 8:07 am

Gold kept on gaining and ended its second month of decline as lower prices lured investors, among which many central banks. On the Comex division of the New York Mercantile Exchange gold futures for August delivery were up 0,5% on the day and traded at $1 386,55. Russia and Kazakhstan have been diversifying assets by […] Read more

Oil Near One-Week High

May 29, 2013 7:14 am

U.S. crude stockpiles probably have decreased by 750 000 barrels last week as refineries have increased their output, spurred by increased demand before Memorial Day. The holiday marks the american peak driving season ending in September. The U.S. Crude Oil Inventories report, scheduled for release tomorrow by the Energy Information Administration, will bring some light […] Read more

Corn Gains Following Concerning Weather

May 28, 2013 1:56 pm

Corn for December delivery surged to the highest level. A report of the U.S. Department of Agriculture, scheduled for today, may show wet weather has slowed the planting process in the preceding week. As of the week ending May 19 71% of the corn crop was planted, compared to 95% last year and which was […] Read more

WTI Crude Gaining Amid U.S. Data

May 28, 2013 9:53 am

WTI crude stopped its four-day declining streak and rose 0,5% to $94.55 a barrel on the New York Mercantile Exchange at 9:50 am London time. Prices were under pressure following a statement by the U.A.E. Energy Minister that the global demand will stay relatively weak. Futures rebounded amid expectations that U.S. economic data scheduled for […] Read more

Refined Sugar Rebounds Amid Weather Forecasts (Updated)

May 28, 2013 9:05 am

Record shipments from Thailand and Mexico add to an already sufficient supply, which exceeds global demand. This causes a reverse in the two-year premium surge of refined sugar. According to estimates compiled by Bloomberg, Brazil, worlds number one exporter, will boost its supply to a record level. Thailand, ranked second, will increase shipments by 11% […] Read more

Gold Drops Amid U.S. Data

May 28, 2013 7:13 am

Spot gold fell 0,5% and traded at $1387,18 an ounce after prices rose yesterday, supported by increased demand from central banks. Russia and Kazakhstan have been diversifying assets by buying gold after its prices contracted by a record pace. The two countries have kept buying gold for a seventh straight month. Turkey is also on […] Read more

Oil Falls A Fifth Day

May 28, 2013 6:43 am

Oil prices fell for a fifth straight day amid U.A.E. forecast for a “relatively weak” global demand. WTI futures closed the week ending on May 24 with a 2% weekly drop. WTI for July delivery dropped 92 cents to $93.23 a barrel on the New York Mercantile Exchange in Asian trading. OPEC, which accounts for […] Read more

Russia And Kazakhstan Purchasing Gold During Its Five-Year Low Bets

May 27, 2013 7:32 am

Russia and Kazakhstan have been diversifying assets by buying gold after its prices contracted by a record pace. The two countries have kept buying gold for a seventh month in a row with Russia expanding its holdings this year by 3,4%, following an 8,5% increase in 2012. Kazakhstan increased its reserves by 8,9% this year, […] Read more

WTI Extends Losses Amid China Economic Slowdown

May 27, 2013 6:37 am

WTI crude kept its declining pace for a fifth day, which is the longest run of declines this year, following concerning data about Chinas economy published last week. The Asian nations Advance Purchasing Managers Index hit a seven-month low value of 49,6 in May, compared to a final reading of 50,4 in April. This had […] Read more

U.S. Natural Gas Storage Rises

May 23, 2013 2:50 pm

U.S. Natural Gas Storage Indicator increased less than expected in the week ending may 17 according to the Energy Information Administration. It rose to 2 053 billion cubic feet, up from 1 964 billion cubic feet the preceding week, but lower than the forecast of a 2 054 billion cubic feet. Natural gas stockpiles rose […] Read more