01192017Thu
Last update: Thu, 19 Jan 2017 09pm

Markets - Commodities

Markets - Commodities - Europe

Gold set to snap three-year losing streak with 9 percent gain LONDON: Gold hit a two-week high on Friday on a weaker dollar and was set to close 2016 more than 9 percent higher, snapping three years of declines.Spot gold was up 0.1 percent at $1,158.86 an ounce by 1159 GMT, having hit its highest since Dec. 14 at $1,163.14.US gold futures rose $2.60 to $1,160.70 an ounce.In the first half of 2016, investors increased gold exposure as the Federal Reserve showed caution on raising interest rates due to concerns about global growth, while Britain's vote to leave the European Union curbed appetite for risk and pushed the metal to a two-year high in July.But gold prices fell more than 8 percent in November, on higher US Treasury yields after Donald Trump's election win led to speculation his commitment to infrastructure spending would spur growth.Bullion then hit a 10-month low on Dec. 15 as solid US economic data gave the Fed ...

Markets - Commodities - Europe

Wheat set for 13 pct drop in 2016 as record supply weighs PARIS/SYDNEY: US wheat futures were little changed on Friday in light year-end trading, leaving the cereal market poised for an annual decline of more than 13 percent against a backdrop of record global supplies.Corn was set to finish the year down nearly 3 percent after the biggest-ever US harvest maintained hefty supply volumes. Both corn and wheat are heading for their fourth straight annual decline.Soybeans, however, will break a downward trend over the previous three ...

Markets - Commodities - Europe

NY cocoa falls to 3-1/2 year low on oversupply concerns LONDON: New York cocoa futures fell to the lowest level in more than 3-1/2 years on Friday as fast-paced production in top grower Ivory Coast heightened concerns about excess supplies in the 2016/17 season. Dealers said the flow of cocoa to ports in Ivory Coast was running well ahead of last year and a global surplus is now widely forecast for this season season. There had been a global deficit in 2015/16. "We are seeing ...

Markets - Commodities - Asia

Palm falls on weaker soyoil, year-end profit taking KUALA LUMPUR: Malaysian palm oil futures eased on Thursday, dipping after two sessions of gains on year-end profit-taking and in line with declines in rival soyoil.The tropical oil had risen to its highest in a week-and-a-half on Wednesday, supported by a rebound in exports and tight market supplies.Benchmark palm oil futures for March delivery on the Bursa Malaysia Derivatives Exchange were down 0.7 percent at 3,106 ringgit ($693) a tonne at the end of the ...

Markets - Commodities - Europe

Gold rises as the dollar and US bond yields decline LONDON: Gold prices rose to their highest in two weeks on Thursday as the dollar and US bond yields declined following weaker than expected economic data.Spot gold hit $1,150.26 an ounce, its highest since Dec. 14., and was up 0.4 percent at $1,146.16 by 1122 GMT.US gold futures rose $6.30 to $1,147.10 an ounce."Gold is not out of the woods yet but yields are a bit lower and the dollar is weaker, especially against the ...

Markets - Commodities - Middle East & Africa

Egypt's GASC gets offers in wheat purchase tender ABU DHABI: Egypt's state buyer GASC received sales offers from nine suppliers in an international tender to purchase wheat on Thursday, traders said. The lowest offer was $186.68 a tonne FOB for wheat sourced from Russia, they said. No purchase has yet been made and results are expected later on Thursday, traders said. Copyright Reuters, 2016

Markets - Commodities - Asia

Gold prices rise by most in a month as US dollar declines BENGALURU: Gold prices rose to their highest in two weeks on Thursday, as the US dollar fell, but gains were limited on expectations of more rate hikes by the US Federal Reserve next year.Spot gold was up 0.5 percent at $1,147.56 an ounce by 0631 GMT, after reaching its highest since Dec. 14. at $1,149.84 earlier in the session.The metal was also on track for its biggest one-day rise since Nov. 28.US gold futures were ...