On CMX, Gold and Silver are losing since morning on the expectations for higher US interest rates and a stronger dollar countered haven demand amid tension in Ukraine and Gaza. Actively traded Gold contract tested a low of 1305.00 before settling at 1307.70, down half a percent or 6.10 points and Silver is down 9.7 cents or 0.50% to trade at 20.915 after having tested a low of 20.87 an ounce. Zinc climbed to the highest price since August 2011 after falling inventory and an improving demand outlook spurred speculation that consumption will exceed supply. Aluminum reached a 16-month high of 2043.00 before settling at 2036.00, up 15.50 points or 0.77% and Zinc is trading at 2364.50, up 20.50 or 0.87%. Copper is trading at 7052.50, higher by 0.33% or 23.50 points per metric ton. WTI Crude Oil is adding 0.51% or 53 cents to trade at 105.12 while Natural Gas is trading flat at 3.847 with negative bias as we write this.
Tuesday, 22 July 2014
Commodity Market Update (Silver)
On CMX, Gold and Silver are losing since morning on the expectations for higher US interest rates and a stronger dollar countered haven demand amid tension in Ukraine and Gaza. Actively traded Gold contract tested a low of 1305.00 before settling at 1307.70, down half a percent or 6.10 points and Silver is down 9.7 cents or 0.50% to trade at 20.915 after having tested a low of 20.87 an ounce. Zinc climbed to the highest price since August 2011 after falling inventory and an improving demand outlook spurred speculation that consumption will exceed supply. Aluminum reached a 16-month high of 2043.00 before settling at 2036.00, up 15.50 points or 0.77% and Zinc is trading at 2364.50, up 20.50 or 0.87%. Copper is trading at 7052.50, higher by 0.33% or 23.50 points per metric ton. WTI Crude Oil is adding 0.51% or 53 cents to trade at 105.12 while Natural Gas is trading flat at 3.847 with negative bias as we write this.
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