Monday, 21 July 2014

Commodity Market Trading News and Updates

Gold futures fell for the first time in three days

Dollar reached a four-week high

Crude fell amid speculation that the biggest weekly gain in more than a month

Silver futures for September delivery fell 1.2 percent

Copper retreated 1 percent to the lowest in more than two weeks

Gold futures fell for the first time in three days as speculation that the Federal Reserve will raise U.S. interest rates sooner than expected outweighed concerns that tensions between Ukraine and Russia will escalate. Bullion rose 8.9 percent this year as Fed policy makers pledged to keep borrowing costs low, while turmoil in the Middle East and Eastern Europe spurred demand for a haven asset. The metal posted the first weekly drop since May as gains in the U.S. economy bolster the case for a rate increase. The dollar reached a four-week high against a basket of 10 major currencies. Silver futures for September delivery fell 1.2 percent to $20.886 an ounce. This week, the price dropped 2.7 percent, halting the longest rally since September 2012. West Texas Intermediate crude fell amid speculation that the biggest weekly gain in more than a month was excessive. Brent in London declined.

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