Wednesday, 29 July 2015

Trading in Commodity Market Without Loss

Gold firmed on Tuesday but remained near 5-1/2-year lows as markets braced for this week's Federal Reserve meeting, at which policymakers are expected to give further clues on the timing of a U.S. rate increase.

Silver was up 0.9 percent at $14.67 an ounce. U.S. consumer confidence weakened in July, due in part to a less optimistic outlook on the labor market, according to a private sector report released on Tuesday.

Oil prices steadied on Tuesday, with Brent recovering from near six month lows and U.S. crude settling more than 1 percent higher as bets for a drop in U.S. stockpiles offset concern over a global oil supply glut and China's stock market meltdown.

U.S. Natural gas futures gained 1 percent as options expire on Tuesday amid a Northeast heat wave this week and continued strong power sector air conditioning demand across the rest of the country.

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