Friday, 11 July 2014

Today’s Outlook of Commodity Market

Gold futures climbed to a 16-week high

Silver futures for September delivery climbed 2.1 percent

Crude gained for the first time in 10 days

Nickel prices fell to a one-week low

Gold futures climbed to a 16-week high as banking concerns in Portugal and a slump in equities boosted demand for the precious metal as a haven. Silver futures for September delivery climbed 2.1 percent to $21.508 an ounce on the Comex. The metal reached $21.63, the highest since March 17. West Texas Intermediate crude gained for the first time in 10 days on speculation a growing U.S. economy will increase demand. Nickel prices fell to a one-week low on speculation that ore exports will pick up from Indonesia, the world’s top producer from mines, while trade data signaled prospects for less demand in China, the biggest metal consumer.

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