05292016Sun
Last update: Sun, 29 May 2016 10pm

Markets - Commodities

Markets - Commodities - Americas

Gold pares losses on weaker-than-expected US data NEW YORK/LONDON: Gold prices came off their lows on Monday after unexpectedly weaker US economic data spurred some safe-haven buying. Gold fell more than 1 percent earlier as buyers cashed in gains after the metal posted its biggest monthly rise in three years in January. Spot gold was down 0.3 percent at $1,279.51 an ounce at 2:45 p.m. EST (1945 GMT), while US gold futures for April delivery settled down 0.2 percent at $1,276.90 per ounce. "The release of lower-than-expected US economic data, helped gold cut early losses," said Howard Wen, precious metals analyst for HSBC Securities in New York, noting earlier losses were due to profit-taking."Underlying physical demand remains supportive, most notably from China." Gold attracted safe-haven buyers after data showed that US factory activity had cooled in January, suggesting the economy may have entered the new year on a slightly softer footing than expected. Traders are awaiting more ...

Markets - Commodities - Americas

Cotton futures rise on speculator short-covering, technical bounce NEW YORK: ICE cotton hit a more-than two week high on Monday as investors exited short positions after the strongest weekly gain in more than four months, triggering technical buying above a key support level.The most-active March cotton contract on ICE Futures US gained 0.53 cent, or 0.9 percent, to settle at 59.89 cents a lb after rising as high as 60.08 cents, its highest level since Jan. 15. Fiber rose 3.6 percent last week, ...

Markets - Commodities - Europe

Cocoa hits one-year low on weak demand, strong arrivals LONDON: Cocoa futures on ICE fell to their lowest level in more than one year on Monday, weighed down by weak demand and stronger-than-expected port arrivals in top grower Ivory Coast.Raw sugar futures fell to the lowest in nearly four weeks with crops in top producer Brazil forecast to receive much needed rains while arabica coffee prices also eased.Exporters on Monday estimated around 48,000 tonnes of cocoa beans were delivered to top grower Ivory Coast's ...

Markets - Commodities - Europe

Gold slips after biggest monthly gain in three years LONDON: Gold prices slipped on Monday as buyers cashed in gains after the metal posted its biggest monthly rise in three years in January, but a shaky outlook for the global economy underpinned its appeal as a haven from risk.Spot gold was down 1 percent at $1,269.70 an ounce at 1446 GMT, while U.S. gold futures for April delivery were down $9.30 an ounce at $1,269.90. Gold rose 8.4 percent last month, its biggest monthly ...

Markets - Commodities - Americas

Canada wheat, canola stocks shrink, but supplies still large WINNIPEG: Canadian stockpiles of wheat and canola at the end of 2014 dwindled from the previous year but were still among the biggest in recent decades, according to a Reuters survey of nine traders and analysts ahead of a Statistics Canada report.All-wheat stocks in commercial and on-farm storage dropped 13 percent to 25 million tonnes as of Dec. 31, 2014, according to the average estimate. That would be the second-biggest supply total at the end ...

Markets - Commodities - Australia

Shanghai copper jumps nearly 3pc on China stimulus hopes MELBOURNE: Shanghai copper jumped nearly three percent on Monday, after an official report showed factory growth in China shrank for the first time in more than two years last month, fuelling hopes for increased stimulus from the world's second biggest economy.A private business survey mirrored the result, showing the factory sector contracted a second straight month in January, as 2015 got off to a rocky start.The more China's economy slows, the more pressure Beijing will ...

Markets - Commodities - Asia

TOCOM rebounds from 2-week low as Japan inventories fall TOKYO: Benchmark Tokyo rubber futures rose on Monday, rebounding from a 2-week low hit during Friday's evening session, as a decline in Japanese rubber inventories prompted fresh buying and some investors looked for bargains, dealers said.Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices in Southeast Asia, have been under pressure on oversupply concerns and ended January trade with an 8 percent drop.The Tokyo Commodity Exchange rubber contract for July delivery ...