Friday, 4 July 2014

Today’s Outlook of Commodity Market

Gold held below a three-month high.

Nickel advanced to the highest since May.

Crude oil fell for a sixth day, capping its longest retreat.

Alumium also gained in London, while lead, zinc and tin fell.

Silver for immediate delivery was at $21.162 an ounce.

Gold held below a three-month high, trimming a fifth weekly rise, as investors assessed the outlook for higher U.S. borrowing costs after employment data beat estimates. Nickel advanced to the highest since May as the U.S. unemployment rate fell to the lowest in almost six years, signaling that stronger economies will boost demand amid supply curbs. West Texas Intermediate crude fell for a sixth day, capping its longest retreat in more than two years on easing supply concerns in Iraq and Libya.

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