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Thread: Commodities

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    Commodities

    All Commodities Upcoming News will be posted in this section

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    Commodities

    METALS KEEP DIGGING DEEPER

    Gold just printed a fresh almost 3-year lows at $1256 falling in a straight line from the $1275 level where it had been sitting since early NY session, down -1.41% in no time
    failing to hold above the support line had been kind of working out since past Friday.

    The yellow metal is last trading at $1262 off mentioned lows, while Silver has posted a fresh low at $19.13 in the spot market, last at $19.30 off lows,
    falling from the opening session price around the $19.60, or a -1.72% loss.

    Oil meanwhile is quiet around the $95 mark, near session lows, as USD is showing some weakness signs, especially against Yen, trading at session lows 97.93 USD/JPY.

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    GOLD

    COMMODITIES BRIEF

    Gold printed today a fresh almost 3-year low in the spot price at $1220 in late NY session, trading last at $1230, while the CRB index,
    that tracks the 19 commodities most traded, ended the day in NY down -0.44% at 276.79 off fresh 2-year lows.

    While Gold is down more than -5% for the week so far, Oil is unchanged from yesterday's Asia-Pacific open, and higher for the week by +1.74%,
    after a sharp V shape recovery from daily lows around the $93.4 mark, when the EIA inventories were released, showing stocks both in crude oil and gasoline were higher than expected.

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    Gold, Silver Dropped Down:


    Gold and silver futures fell on Monday, with both metals looking at their worst yearly losses in at least 30 years.

    Gold for February delivery fell $10.20, or 0.8%, to settle at $1,203.80 an ounce on the New York Mercantile Exchange.

    March silver futures fell 35 cents, or 1.7%, to $19.70 an ounce.

    It has been a brutal year for gold, with the continuous contract on the metal down 28% since Jan. 1, according to FactSet data. Silver has declined even more, dropping 35% since the start of the year.
    Those are the worst yearly percentage losses for each metal since at least 1984, where FactSet’s data starts.


    Trading is likely to remain thin with many investors still on holiday. Monday’s only piece of major economic data did little to shift prices. Pending sales of new homes ticked higher in November for the first gain in six months, according to the National Association of Realtors.


    In other metals trade on Monday, January platinum futures dropped $12, or 0.9%, to settle at $1,364 an ounce, while March palladium declined $1.15, or 0.2%, to settle at $710.80 an ounce.
    March copper futures fell less than 1 cent to just over $3.38 a pound.

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