02092016Tue
Last update: Tue, 09 Feb 2016 04pm

Markets - Commodities

Markets - Commodities - Asia

Gold perched near 3-mth high ahead of US jobs, eyes best week in 4 MANILA: Gold was trading near its highest since October on Friday, on track for its strongest weekly gain in a month as the dollar was pressured by growing doubts the Federal Reserve can stick to its interest rate hike campaign.A shaky global economy has lifted buying interest in gold, making it among the best performing assets with a year-to-date gain of nearly 9 percent. Other precious metals rode on gold's rally, with silver and platinum also at multi-month highs. Silver is eyeing its best week since May last year. Focus is turning to the US employment report due later in the day, with analysts saying a weaker-than-expected reading could stretch gold's rally. Spot gold was flat at $1,154.50 an ounce by 0629 GMT, after peaking at $1,157.20 on Thursday, its highest since Oct. 29. Gold has gained more than 3 percent so far this week, on course for its biggest ...

Markets - Commodities - Asia

Iron ore scores best week in 9 months ahead of China holiday MANILA: Iron ore finished the week with its biggest weekly gain since last April, after racing to its highest since November as buyers snapped up spot cargoes ahead of the Lunar New Year holiday.Slower shipments from top suppliers Australia and Brazil amid weather risks while Chinese buyers restocked ahead of the Feb. 8-12 break fuelled iron ore's rally, traders said. Trading activity was limited on Friday just before the holiday break.Some market participants were unsure ...

Markets - Commodities - Australia

London copper set for third weekly rise ahead of Lunar New Year MELBOURNE: London copper fell on Friday, but was set for a third consecutive week of gains as signs of stabilisation in the market and a weaker dollar convinced traders to close short positions ahead of Lunar New Year holidays next week in China. The dollar steadied in Asian trading on Friday but remained on track for weekly losses, as investors braced for US employment figures later in the session for the latest clues on the ...

Markets - Commodities - Americas

Wheat falls on poor US export data; corn, soy also weak CHICAGO: Wheat futures on the Chicago Board of Trade fell 1.5 percent on Thursday on disappointing US export sales data, traders said.Corn and soybeans also fell, retreating from six-week highs set this week, on improving crop prospects in South America.At the CBOT, March wheat settled down 7-1/4 cents at $4.72-3/4 per bushel. March corn ended down 2-1/2 cents at $3.68-1/2 per bushel and March soybeans fell 2-1/4 cents at $8.74-1/2 a bushel.Wheat fell after the ...

Markets - Commodities - Europe

Gold hits three-month peak as US rate rise views ease LONDON: Gold extended its rally on Thursday, building on the previous day's gains to strike a three-month high as global economic and financial headwinds present obstacles to a U.S. interest rate rise in the near term.Spot gold rose more than 1 percent at one point to touch $1,156.60 an ounce, its highest since Oct. 29, adding to Wednesday's 1.2 percent rise.The yellow metal has benefited from a selloff in the dollar over the past two ...

Markets - Commodities - Europe

EU wheat slips to new lows as stronger euro adds to export gloom PARIS: Benchmark European wheat prices extended losses on Thursday to hit their lowest in almost five months as a rally in the euro dented export hopes and reinforced fears of hefty stocks at the end of the season.The euro's strength offset potential support from a strong weekly volume of European Union export certificates.March milling wheat on Euronext settled 0.50 euro lower at 158.75 euros a tonne. It earlier fell to 158.00 euros, a new contract ...

Markets - Commodities - Europe

Palm oil ends off highs on technical selling ROTTERDAM: Crude palm oil on the European vegetable oils market eased on technical selling, with Malaysian palm oil futures closing with a slight decline because of a firmer ringgit."Crude palm oil started firmer on the back of the stronger ringgit, but it wore off during the day caused by some profit-taking," one broker said."Refined products stayed relatively firm because of the ringgit, but also saw a retreat on profit-taking when highs were reached early in ...