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Commodity noon session
Bullions
• Gold climbed for a second day as a weaker dollar
boosted demand for an alternative investment
and commodities a...
Bullions
• December-delivery gold rose 0.5 percent to
$1,356.80 an ounce on the Comex in New York
after closing 1.2 percen...
Crude oil.
• Oil fell in New York, set for its biggest weekly loss
in three months, because of concern that a
European Uni...
Crude oil
• The December contract fell as much as 0.5
percent, to $81.44 a barrel in electronic trading
on the NYMEX. It e...
Base metals.
• Copper in London declined, heading for the biggest
weekly drop in four months, on concern additional
tighte...
Base metals
• Aluminum in London dropped 0.6 percent at
$2,293.25 a ton, zinc fell 0.9 percent to $2,167 a
ton, and lead d...
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COMMODITY MARKET UPDATE

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Transcript of "COMMODITY MARKET UPDATE"

  1. 1. Commodity noon session
  2. 2. Bullions • Gold climbed for a second day as a weaker dollar boosted demand for an alternative investment and commodities advanced after Ireland moved closer to a European Union-led financial bailout. • The euro advanced against the U.S. currency on optimism a bailout for Ireland will prevent contagion across the region’s larger debt markets.
  3. 3. Bullions • December-delivery gold rose 0.5 percent to $1,356.80 an ounce on the Comex in New York after closing 1.2 percent higher yesterday. • Silver for immediate delivery gained as much as 1.6 percent to $27.3975 an ounce. It reached a 30-year high of $29.36 last week and is up 62 percent this year.
  4. 4. Crude oil. • Oil fell in New York, set for its biggest weekly loss in three months, because of concern that a European Union-led bailout of Ireland may not be enough to stabilize sovereign debt concerns in the region. • The market direction is still uncertain even though the sovereign debt risk in Ireland might be helped by a bailout.
  5. 5. Crude oil • The December contract fell as much as 0.5 percent, to $81.44 a barrel in electronic trading on the NYMEX. It earlier climbed as much as 65 cents to $82.50. Yesterday, futures gained $1.41 to $81.85 after declining for four days.
  6. 6. Base metals. • Copper in London declined, heading for the biggest weekly drop in four months, on concern additional tightening measures in China may damp demand from the biggest consumer. • The metal for three-month delivery lost 1 percent to $8,345 a metric ton on the London Metal Exchange at 12:42 p.m. in Shanghai. Prices have fallen 3 percent this week, the most since the week ending July 16. • If the U.S. dollar falls, copper may recover a bit, otherwise, it’s capped by the present macro uncertainties.
  7. 7. Base metals • Aluminum in London dropped 0.6 percent at $2,293.25 a ton, zinc fell 0.9 percent to $2,167 a ton, and lead declined 1 percent to $2,291 a ton. Nickel fell 1 percent to $21,632 a ton, and tin slipped 0.4 percent to $25,000 a ton at 12:46 p.m. in Shanghai.
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