01222017Sun
Last update: Sun, 22 Jan 2017 03pm

Markets - Commodities

Markets - Commodities - Europe

Political uncertainty fuels gold's push to 6-week high LONDON: Gold hit six-week highs on Wednesday as investors worrying about political uncertainty bought the precious metal, but dollar strength due to higher US rates is expected to cap gains.Spot gold was down 0.1 percent at 1186.45 an ounce at 1044 GMT from an earlier peak at $1,191.32. US gold futures gained 0.3 percent to $1,188.70.The trigger for early gains was US President-elect Donald Trump's first formal news conference at 1600 GMT. Investors will focus on what Trump has to say about trade and relations with China and his plans for the economy."Major political risks include elections in France, the Netherlands and Germany, which could lead to tensions in the European Union," said Quantitative Commodity Research analyst Peter Fertig."The uncertainty surrounding Brexit could lead to further demand for gold from retail investors in the UK."Offsetting the political uncertainty argument is the US currency, holding near a 14-year high against a ...

Markets - Commodities - Asia

India has no plan to cut sugar import tax for now-food minister NEW DELHI: India, the world's biggest sugar consumer, is not considering to cut import duty on the sweetener at least in the near term, Food Minister Ram Vilas Paswan said on Wednesday. Sugar prices in the local market have risen more than 10 percent in a month on an expected drop in the production after back-to-back drought ravaged cane crop in the top producing western state of Maharashtra. India's sugar production in 2016/17 is likely ...

Markets - Commodities - Europe

Wheat, soybeans and corn fall ahead of USDA report HAMBURG/SINGAPORE: Chicago wheat, soybean and corn futures fell on Wednesday in a mood of risk-avoidance ahead of widely watched forecasts of world grain and oilseed supply and demand scheduled from the US Department of Agriculture (USDA) on Thursday.Wheat was also weakened by improved weather forecasts for the US Plains and positive crop weather in some other producing regions, easing further from a six-week high hit on Monday.Chicago Board of Trade most-active March wheat was down ...

Markets - Commodities - Americas

Soybeans rise on S. American crop questions; wheat, corn ease CHICAGO: Chicago Board of Trade soybean futures firmed on Tuesday, recovering from weakness in overnight trading on technical buying amid lingering concerns about weather in key South American growing regions. Corn and wheat futures eased as traders staked out positions ahead of the release of key US Agriculture Department supply and demand reports on Thursday. "I call this noise," said Ag Watch Market Advisors President Dewey Strickler. "It is an evening of positions going into ...

Markets - Commodities - Europe

Gold hits highest in over a month on Brexit, Trump concerns LONDON: Gold rallied to its highest level in more than a month on Tuesday as the dollar dipped ahead of a news conference on Wednesday by US President-elect Donald Trump.The market is looking for more clues on Trump's spending plans in the first speech since his shock win in November, pushing the dollar lower.The pound and stocks also slid on fears of a "hard" Brexit after British Prime Minister Theresa May said at the weekend ...

Markets - Commodities - Europe

Med Crude-Urals differentials unchanged in subdued trade MOSCOW: Urals crude differentials to dated Brent in the Mediterranean and northwest Europe were stable on Monday in a muted trading window despite a drop in Russian oil production after OPEC's deal to cap global crude output. Russia's oil and gas condensate output averaged 11.1 million barrels per day (bpd) from Jan. 1 to Jan. 8, two sources from the energy sector told Reuters on Monday, down from 11.21 million bpd in December. Russian state ...

Markets - Commodities - Europe

Zinc stronger on supply shortage, weak dollar LONDON: Zinc rose to its highest level in three weeks on Monday as the dollar fell and on expectations of a continued shortage in supply for the metal used to galvanise steel. Zinc, the best performing LME metal, rose 60 percent in 2016 fuelled by fears of shortages after some major mines were closed or suspended. This also means the annual commodity index rebalancing this week could pressure LME zinc. The metal on the LME ...