09262016Mon
Last update: Mon, 26 Sep 2016 05am

Europe

Markets - Commodities - Europe

Gold steadies as US data curbs rate rise speculation LONDON: Gold steadied above two-week lows on Friday after downbeat US data curbed already muted expectations for a US rate rise next week, though a firmer dollar and uncertainty over monetary policy kept it on track for its first weekly loss in three.The CME Group's FedWatch tool showed futures traders are now pricing in a 12 percent chance of a rate rise this month, down from 15 percent on Wednesday, after soft US retail sales and manufacturing output data.That underpinned gold after its 1 percent slide this week.Spot gold was at $1,313.66 an ounce at 1135 GMT, little changed from $1,313.80 late on Thursday, a session when it hit its lowest since Sept. 2 at $1,309.25. US gold futures for December delivery were down $1 at $1,317.00."Gold didn't get much of a bounce yesterday from the retail sales data, which is somewhat surprising," Mitsubishi analyst Jonathan Butler said. "But if ...

Markets - Commodities - Europe

Nickel touches 3-month low as deficit hopes LONDON: Nickel slumped to the lowest in more than two months on Thursday after worries eased that an environmental crackdown in the Philippines would create shortages. Nickel is up about 12 percent this year, having hit a one-year peak in early August as authorities in the Philippines launched a campaign to close mining operations that failed to met environmental regulations. The metal closed 1.3 percent lower at $9,710 an ounce to levels last on July ...

Markets - Commodities - Europe

Gold slips on steadier dollar and equities ahead of Fed meeting LONDON: Gold slipped on Thursday as the dollar and European equities edged upwards, curbing the metal's demand ahead of next week's US Federal Reserve policy meeting.Spot gold dipped by 0.1 percent to $1,321.53 an ounce at 1141 GMT, with US gold futures down 0.1 percent at $1,324.50."The Fed is obviously pretty critical," said Oxford Economics commodity director Dan Smith."We still have that conviction that the dollar will rally on the back of rate hikes and ...

Markets - Commodities - Europe

Copper eases slightly from 3-week highs LONDON: Copper slipped on Thursday as the dollar strengthened, but the metal used in construction and power was still near three-week highs on upbeat data from top consumer China.China's bank lending more than doubled in August from the previous month, a report showed on Wednesday, adding to brighter economic readings from the country earlier this week.Benchmark copper on the London Metal Exchange was untraded in the rings, but bid at $4,743 a tonne, a drop ...

Markets - Commodities - Europe

Gold holds steady as stocks, other metals suffer LONDON: Gold steadied on Monday with investors looking for a safe haven as fresh speculation about a near-term US rate hike weighed on equities and other assets.Spot gold held steady at $1,327.92 an ounce at 0930 GMT. US gold futures edged 0.3 percent lower at $1,330.60 an ounce.A chorus of hawkish comments from Fed officials kept expectations alive for a September rate hike despite a recent spate of disappointing economic data.After Boston Federal Reserve President ...

Markets - Commodities - Europe

Gold dips as ECB refrains from extending QE programme LONDON: Gold dipped on Thursday after the European Central Bank confirmed its existing stimulus programme but refrained from extending it as some market players had hoped.Shares also fell on disappointment that ECB chief Mario Draghi said the bank had not even discussed an extension of quantitative easing."People's expectations were again too high ahead of this decision and they have been caught offside," said Craig Erlam, an analyst with online broker Oanda.Spot gold fell 0.1 percent ...

Markets - Commodities - Europe

LME copper near 2-week high as stocks draw down; nickel rises LONDON: Copper hovered close to a two-week high on Thursday, supported by a fall in inventories, a softer dollar and encouraging signs from China's economy.Inventories in London Metal Exchange warehouses fell for the first time in three weeks, signalling returning demand after the summer months.LME copper stocks fell 1,375 tonnes to 339,600 tonnes, the latest data showed, but remained around the highest in almost a year.London Metal Exchange copper was up 0.1 percent at $4,653.50 ...