Wednesday, 12 June 2013 03:43
Posted by Imaduddin
NEW YORK/LONDON: Gold hit a near three-week low on Tuesday, ending lower as a lack of new economic stimulus from the Bank of Japan fueled worries that other central banks may also withdraw their support, denting bullion's inflation-hedge appeal.The precious metal was down as much as 1.4 percent after the Bank of Japan said it held off on new measures, arguing that bond markets had stabilized. Gold closed around 0.6 percent lower."The BoJ has given the market the impression that there will not be any more stimulus," said Carlos Perez-Santalla at brokerage Marex Spectron.Monday's comments by St. Louis Fed President James Bullard on low US inflation also weighed heavily on gold, whose prices largely depend on inflation hopes, said Perez-Santalla.Spot gold was down 0.6 percent at $1,378.51 an ounce by 3:22 p.m. EDT (1922 GMT), having earlier hit $1,366.65, the lowest since May 23.US Comex gold futures for August delivery ...
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NEW YORK/LONDON: Gold hit a near three-week low on Tuesday, ending lower as a lack of new economic stimulus from the Bank of Japan fueled worries that other central banks may also withdraw their support, denting bullion's inflation-hedge appeal.The precious metal was down as much as 1.4 percent after the Bank of Japan said it held off on new measures, arguing that bond markets had stabilized. Gold closed around 0.6 percent lower."The BoJ has given the market the impression that there will not be any more stimulus," said Carlos Perez-Santalla at brokerage Marex Spectron.Monday's comments by St. Louis Fed President James Bullard on low US inflation also weighed heavily on gold, whose prices largely depend on inflation hopes, said Perez-Santalla.Spot gold was down 0.6 percent at $1,378.51 an ounce by 3:22 p.m. EDT (1922 GMT), having earlier hit $1,366.65, the lowest since May 23.US Comex gold futures for August delivery ...
CHICAGO: US grains rallied on Tuesday, with corn and soybeans each gaining more than 1 percent and rebounding from steep losses on tight supply concerns ahead of a government crop report due on Wednesday.Wheat futures also rose for the first time in five sessions as Japan announced its first feed wheat tender following the discovery of an unapproved genetically modified strain last month in the US state of Oregon.A downturn in the dollar also supported ...
NEW YORK: Cotton prices rallied to above 90 cents per lb, the highest in almost three months, on Tuesday as frenzied merchant buying continued for a second day on concern about a potential squeeze in domestic supply just weeks before the July contract's expiry.Buying also came ahead of the US government's monthly crop report on Wednesday, which will likely reinforce expectations of lower output in the United States as farmers switch to higher-priced grains and ...
BUENOS AIRES: Argentina and China have agreed to expand their commercial ties by increasing soybeans and corn exports to the Asian country, Buenos Aires said Saturday."China approved three trangenic soybean and corn" varieties, Argentine Agriculture Minister Norberto Yahuar said in a statement."In the next season we will be using these approved seeds and obviously, we will be able to sell more," the minister said, after talks in Beijing with his counterpart Han Chang Fu.The ministry ...
NEW YORK: US stocks on Friday rose around one percent in early trade after government data showed the jobs sector continued to strengthen in May albeit modestly, with 175,000 net new jobs.After an hour of trade, the Dow Jones Industrial Average was up 164.77 points (1.10 percent) to 15,205.39.The broad-based S&P 500 put on 15.32 (0.94 percent) to 1,637.88, while the tech-rich Nasdaq Composite Index added 25.80 (0.75 percent) to 3,449.85.The jobs data which showed ...
