Markets - Commodities
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LONDON: Gold fell on Tuesday as the dollar rose and traders took to the sidelines ahead of a Federal Reserve policy meeting they hope will give greater clarity on the outlook for US monetary policy.The dollar rose against a basket of currencies, and equity markets held within tight ranges as uncertainty over the future of the US monetary stimulus program kept investors on edge, helping push gold prices lower.Spot gold was down 0.8 percent at $1,373.55 an ounce at 1343 GMT, while US gold futures for August delivery were down $10.20 an ounce at $1,372.90.The Fed meets this week amid intense speculation that it may rein in its $85 billion-a-month bond-buying programme after firmer-than-expected economic data this year and as stock markets rallied.The programme, part of the Fed's quantitative easing (QE) policy to stimulate US growth, has helped drive gold prices to record highs in recent years by keeping up ...
ROTTERDAM: Soymeal on the European meals and feeds market continued to fall on Monday in sympathy with CBOT soymeal futures on forecasts for beneficial planting and growing weather in the US soybean belt."Prices dropped further on good crop weather in the US but it did not create much business on the European cash market as most buyers were holding back waiting for the market to bottom out," one broker said.South American soymeal was offered between ...
NEW YORK/LONDON: Cocoa futures fell on Monday, as technical selling resulted in the market's sharpest three-session drop in more than a year, while ICE sugar futures inched higher in heavy trading.Liffe robusta coffee steadied after recovering from its lowest price since October 2010 while arabica trading on ICE Futures US turned down a shade, recovering from last week's low, its lowest in more than three years.Cocoa futures on both Liffe and ICE dropped for the ...
CHICAGO: Chicago Board of Trade (CBOT) corn futures leaped over 2 percent on Monday, posting the biggest one-day advance in nearly a month on soaring cash corn markets and tight stocks of corn."July (old-crop) is definitely benefiting from the firm cash basis and tight near-term supplies. The western Corn Belt basis is very strong," said Sterling Smith, market specialist for Citigroup.New-crop December corn gained as well, but its advance was limited by nearly ideal crop ...
CHICAGO: Chicago Mercantile Exchange live cattle futures rose on Monday driven in part by a five-year high in weekly US beef exports, traders and analysts said.The turnaround in wholesale beef values on Monday also contributed to futures' gains, they said.US Department of Agriculture on Monday reported last week's beef exports at roughly 27,000 tonnes, eclipsing the previous high of around 21,100 tonnes during the first week of February 2013. Monday's beef exports were the most ...
NEW YORK/LONDON: Gold fell around 0.5 percent in quiet trade on Monday as a Wall Street rally reduced the need for safe-haven buying and investors awaited this week's US Federal Reserve meeting for signals on the central bank's monetary stimulus plan.Better-than-expected US retail sales and jobs data recently has fueled speculation that the Fed could announce a scaling back of its $85 billion monthly mortgage-bond buyback at the end of its two-day policy meeting on ...
NEW YORK: Brent crude oil futures touched a 10-week high close to $107 a barrel on Monday as tensions in the Middle East rose, but prices finished slightly lower on the day after a late sell-off in US gasoline futures.US crude oil hit a nine-month high near $99 a barrel but also reversed to settle lower, with investors cautious ahead of the start of the US Federal Reserve's two-day policy committee meeting on Tuesday. The ...More Articles...
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