Monday, 7 July 2014

Today’s Outlook of Commodity Market

Gold for August delivery rose 0.1 percent.

Silver for September delivery rose 0.3 percent.

Copper for delivery in three months lost 0.4 percent.

LME aluminum, lead and tin slid. Zinc was little changed.

Nickel fell from a six-week high.

Crude oil fell for a seventh day, the longest retreat since 2009.

Gold rose in London, heading for the longest streak of weekly gains since March, after German factory orders fell more than expected. Silver for September delivery rose 0.3 percent to $21.20 an ounce. The metal, which is traded as a store of value and also used in industry, is on course for a fifth weekly advance that’s the longest run since August. Nickel fell from a six-week high in London amid speculation supply of the metal is ample for now, easing concern about a potential shortage after Indonesia barred exports of raw ores in January.

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