05042016Wed
Last update: Wed, 04 May 2016 02pm

Europe

Markets - Commodities - Europe

Gold steadies as dollar lends support ahead of Fed meeting LONDON: Gold steadied on Monday as a retreat in the dollar helped to arrest the previous session's 1.3 percent slide, but moves were muted ahead of a Federal Reserve policy meeting this week.The Fed is not expected to raise interest rates at this week's meeting, but markets will be looking for the U.S. central bank's take on the global economy and its monetary policy outlook.Gold is highly sensitive to rising rates, which lift the opportunity cost of holding non-yielding assets such as bullion, while boosting the dollar, in which it is priced.Spot gold was at $1,232.50 an ounce at 01146 GMT, little changed from late on Friday, while U.S. gold futures for June delivery were up $4.70 an ounce at $1,234.70.Prices have risen more than 16 percent this year as expectations for a Fed rate hike faded, the dollar softened and investors showed renewed interest in commodities. Their gains have ...

Markets - Commodities - Europe

Industrial metals slide, jury still out on China demand LONDON: Prices of industrial metals slid on Monday as the market adopted a more cautious attitude towards demand growth in top consumer China, but losses were limited by the weaker dollar.Benchmark copper on the London Metal Exchange was untraded in official rings, but bid down 0.8 percent at $4,990 a tonne. The metal, widely used in power and construction, touched $5,091 on Friday, its highest in more than 4 weeks."The jury is still out on ...

Markets - Commodities - Europe

Raw sugar rises, near 3-week high, cocoa firm LONDON: Raw sugar on ICE rose on Monday, holding near to a three-week high, with traders focused on Brazilian cane industry data later in the week, which is expected to show a brisk crush in favourable weather.Cocoa futures were underpinned by expectations of lower output in West Africa, while robusta coffee steadied, with attention centred on lower than normal yields at the start of the robusta harvest in Brazil.The sugar market was supported by expectations ...

Markets - Commodities - Europe

Gold climbs as dollar lends support ahead of Fed meeting LONDON: Gold rose on Monday as a retreat in the dollar helped to tempt back some buyers after the previous session's 1.3 percent slide, but moves were muted ahead of a Federal Reserve policy meeting this week.The Fed is not expected to raise interest rates at this week's gathering, but markets will be looking for the U.S. central bank's take on the global economy and its monetary policy outlook.Gold is highly sensitive to rising rates, ...

Markets - Commodities - Europe

Metals shine on China, weak dollar LONDON: The prices of industrial and precious metals forged higher this week, aided by Chinese demand hopes, rebounding oil and the weakening dollar.Aluminium surged on Friday to a seven-month high at $1,655 per tonne -- not seen since last September.Nickel soared to five-month peak at $9,585 per tonne, and zinc hit $1,958 per tonne -- scoring its best level in eight months.Copper, lead and tin had rallied on Thursday to one-month pinnacles."China is turning the ...

Markets - Commodities - Europe

Gold dips as dollar strengthens versus yen LONDON: Gold slipped on Friday, as the dollar advanced versus the yen, but the metal was still looking to post a weekly gain, while silver was set for its biggest weekly increase in 11 months. The dollar rose as much as one percent against the yen on speculation the Bank of Japan was considering applying negative rates to its lending programme for financial institutions, effectively starting to pay banks to borrow its cash. Gold was ...

Markets - Commodities - Europe

Copper, aluminium hover near highs, but capped by caution LONDON: Copper and aluminium held steady on Friday, near their highs touched in the previous session, but many analysts were wary that prices were stretched and could be due a correction lower as demand was still patchy. Aluminium touched its highest seven months on Thursday and copper hit a four-week peak, partly on optimism about an economic rebound in top metals consumer China. But many analysts have warned that underlying supply-demand fundamentals do not justify ...