09272016Tue
Last update: Tue, 27 Sep 2016 06am

Markets - Commodities

Markets - Commodities - Europe

Gold up as dollar slips but Fed and bond yields cap gains LONDON: Gold prices rose on Monday as the dollar slipped but gains were capped by nervousness ahead of a US Federal Reserve monetary policy meeting and a rise in US government bond yields.Spot gold was 0.3 percent higher at $1,314.83 an ounce at 0939 GMT, just off a low of $1,306.26 hit on Friday which was the weakest since Sept. 1. US gold futures rose 0.6 percent to $1,318 an ounce.The US central bank meets on Tuesday and Wednesday. It is expected to keep benchmark rates on hold but could give a clear signal of rises to come, possibly in December.If rates remain on hold, that could keep the US currency under pressure, potentially making gold more attractive to buy. But higher rates would increase the opportunity cost of holding gold which yields nothing."The dollar overall is down a little, which is positive for precious metals and for gold in ...

Markets - Commodities - Europe

Copper retreats after biggest weekly rise in two months LONDON: Copper fell nearly 1 percent on Monday, giving up some of the previous week's sharp gains, as concerns about persistent oversupply outweighed upbeat Chinese economic data.The metal, widely used in construction and electronics, rose more than 3 percent last week, its biggest weekly gain in two months, after Chinese economic data indicated a firmer tone to China's housing market and a revival in factory activity.It failed to hold those gains on Monday, despite more ...

Markets - Commodities - Australia

London copper falls, nickel jumps as China returns from holiday MELBOURNE: London copper dropped nearly 1 percent on Monday while London nickel jumped in volatile trade as Chinese markets returned from an extended autumn break.China returned to a spate of encouraging readings of its economy. Business confidence among entrepreneurs has picked up for the second quarter in a row in 2016, while average new home prices in China's 70 major cities rose 9.2 percent in August from a year earlier.Higher property prices in China are ...

Markets - Commodities - Asia

Soybeans hit 1-week top, corn up 2nd day on US rains SINGAPORE: Chicago soybeans climbed more than one percent on Monday to a one-week high and corn gained more ground, with prices underpinned by rains in parts of the US Midwest that delayed the harvest.Wheat rose on spillover strength from corn, although the market's focus is on top buyer Egypt banning foreign shipments with any traces of ergot fungus.Chicago Board of Trade most-active soybean contract rose as much as 1.2 percent to $9.78 a bushel by ...

Markets - Commodities - Asia

China steel falls to lowest since June amid property curbs MANILA: Chinese steel prices dropped to their lowest in nearly three months on Monday on worries that fresh efforts to curb home purchases could slow demand in the top global steel consumer.Financial markets reopened in the country on Monday after closing on Thursday and Friday for China's Mid-Autumn Festival.Home prices there rose at a faster pace in August, data showed, with the buying frenzy spilling over from first-tier cities to other parts of the country. ...

Markets - Commodities - Asia

Palm oil rises for second day on stockpile tightness, rival oil gains KUALA LUMPUR: Malaysian palm oil futures opened lower on Monday but rose slightly by the midday break and are on track to rise for a second consecutive session, supported by expectations that stockpiles will remain tight and stronger performing rival oils.Market gains, however, may be capped by a slower export outlook, according to traders.Benchmark palm oil futures for December on the Bursa Malaysia Derivatives Exchange saw a slight rise of 0.2 percent to 2,598 ringgit ...

Markets - Commodities - Asia

NY sugar may correct to 21.44 cents before rising SINGAPORE: New York Oct. sugar may correct to a support at 21.44 cents per lb before rising again, as it has slid below a higher support at 21.74 cents.These supports are identified respectively as the 86.4 percent and the 100 percent Fibonacci projection levels of an upward wave c, the third wave of a three-wave cycle from the July 29 low of 18.71 cents.This wave could have unfolded too fast and temporarily lost its momentum. ...