Wednesday, 22 May 2013 15:15
Posted by Shoaib-ur-Rehman Siddiqui
LONDON: Gold rose on Wednesday as the dollar fell after Federal Reserve officials allayed investor concerns that the US central bank would soon reduce its bond-buying programme, while Chinese physical demand also lent some support to prices.On Tuesday, New York Federal Reserve Bank President William Dudley and St. Louis Fed chief James Bullard said that further economic progress was needed before they would support curtailing bond purchases.Spot gold reversed Tuesday's 1.3 percent losses and rose to a session high of $1,389.70 an ounce. It was trading at $1,384.91 by 0943 GMT, still up 0.7 percent.US gold futures for June delivery were up 0.5 percent at $1,383.80 an ounce.The metal fell for eight sessions out of the past nine and touched $1,338.95 on Monday, its weakest since April 16, when it recorded the worst daily loss for 30 years.The dollar fell against the euro and a basket of main currencies ahead ...
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LONDON: Gold rose on Wednesday as the dollar fell after Federal Reserve officials allayed investor concerns that the US central bank would soon reduce its bond-buying programme, while Chinese physical demand also lent some support to prices.On Tuesday, New York Federal Reserve Bank President William Dudley and St. Louis Fed chief James Bullard said that further economic progress was needed before they would support curtailing bond purchases.Spot gold reversed Tuesday's 1.3 percent losses and rose to a session high of $1,389.70 an ounce. It was trading at $1,384.91 by 0943 GMT, still up 0.7 percent.US gold futures for June delivery were up 0.5 percent at $1,383.80 an ounce.The metal fell for eight sessions out of the past nine and touched $1,338.95 on Monday, its weakest since April 16, when it recorded the worst daily loss for 30 years.The dollar fell against the euro and a basket of main currencies ahead ...
MOSCOW: Russian Grain Union has raised the top end of its 2013 harvest forecast range due to the good condition of winter grains, its head said on Tuesday, indicating that crop risks due to dry weather this month were limited.The union has expanded its 2013 grain harvest forecast range to 90-100 million tonnes from a previously expected 90-95 million tonnes, Arkady Zlochevsky, the head of the lobby, told Reuters.It also raised its forecast of the ...
LONDON: Raw sugar futures on ICE hovered above a 34-month low on Tuesday, as bumper crops in producers including Brazil and Mexico kept prices under pressure, while arabica coffee and cocoa futures were steady.July raw sugar futures eased 0.01 cent or 0.1 percent to 16.80 cents per lb at 1103 GMT, matching the previous session's near three-year low."The market has been in a continued downtrend since the end of last year," said Andrey Kryuchenkov, analyst ...
LONDON: Copper slipped on Tuesday as traders grew nervous ahead of a slew of factory data this week and as they focused on disappointing import numbers from top consumer China, though losses were capped by confidence in the US economy.Benchmark three-month copper on the London Metal Exchange traded down 0.24 percent at $7,381 a tonne at 0846 GMT, eating away at Monday's gains of more than 1 percent.Copper has rebounded from 18-month lows hit earlier ...
LONDON: Raw sugar futures on ICE fell to the lowest level in nearly three years on Monday as the strong pace of cane crushing in top producer Brazil exerted further downward pressure on the market already struggling to absorb excess supplies.July raw sugar on ICE fell 0.09 cent or 0.5 percent to 16.80 cents a lb, the lowest level for the benchmark front month since July 2010.Copyright Reuters, 2013 ...
LONDON: Copper rose on Thursday, rebounding from earlier falls, as the dollar weakened against the euro and a basket of currencies, but further gains for the metal were capped by concern about lacklustre demand from top consumer China.Three-month copper on the London Metal Exchange closed at $7,280 a tonne, up from $7,198 on Wednesday.It is on track for a 2 percent fall this week and a fall of 9 percent so far this year.Further weakness ...
