Europe
Thursday, 06 June 2013 04:37
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NEW YORK: Gold prices held onto gains in late Wednesday trade as investors sought safer assets after a private US jobs reading fell short of expectations.The sluggish hiring pace by US firms in May curbed speculation that the Federal Reserve may begin to taper its $85 billion monthly bond-buying program, part of a set of stimulus measures by the Fed known as quantitative easing, or QE.QE helped push gold prices to record highs in 2011 by keeping interest rates at historic lows, pushing some investors to safer assets, providing easier access to the funds to do so, and at the same time stoking fears over inflation.Spot gold was up 0.4 percent at $1,399.60 an ounce at 2:45 p.m. EDT (1845 GMT), having earlier touched a session low of $1,395.19. US gold futures for August delivery were up $8.40 an ounce at $1,405.60, off a low of $1,395.10.A report by payrolls ...
NEW YORK: Cotton futures fell on Wednesday, stemming a two-session rally of more than 6.5 percent, as fiber came under pressure from a slowdown in buying, technical resistance and declining global financial markets, dealers said.The most-active July cotton contract on ICE Futures US fell 1.04 cents, or 1.2 percent, to settle at 83.52 cents per lb.Prices were seen correcting as the rapid pace of mill buying slowed after prices posted their steepest two-day rally since ...
NEW YORK: Brent crude dropped sharply just before the session close on Wednesday after reports of the imminent restart of a key US refinery depressed the international benchmark's premium to US oil.Oil had traded higher for much of the day following data showing a steep drawdown in US crude inventories last week.Shortly after 2 p.m. EDT (1800 GMT), Brent tumbled to a low of $102.85 a barrel after IIR Energy reported that BP Plc would ...
NEW YORK: Commodity markets were mixed on Tuesday, with oil, copper and cotton up sharply, while gold, grains, and sugar slid, as each responded to market specific factors and many investors remained on hold ahead of Friday's US jobs report. Brent crude oil prices shook off early losses and rose more than $1 per barrel, as rumors spread that South Korea would create new incentives for refiners to import crude that could bolster demand. Around ...
NEW YORK/LONDON: ICE raw sugar slid to a three-year low on Tuesday, under pressure from large crops in top producer Brazil and a weakening Brazilian real, while Liffe white sugar futures edged up as Mexico delivery issues underpinned spot prices.ICE arabica fell, hovering near a more than three-year low, and cocoa futures gained on renewed investor buying.July raw sugar on ICE Futures US fell 0.05 cent, or 0.3 percent, to settle at 16.38 cents a ...
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