Commodities were out of favour yesterday.
Gold continues to appreciate, but at the slowest pace among the commodities.
Even though gold appreciated yesterday, it showed the most timid growth among the commodities.
Gold retraced some of the yesterday's gains, but so far this week it remains the most bullish asset.
Gold turned out to be the best performing asset among the commodities.
Oil prices dumped more than 1% on Thursday, as analysts see the fossil fuel returning back to bear market. Moreover, global supply may remain under pressure due to Iranian deal, which paved the way for rising exports of oil from this country.
Both Crude and Brent prices were down on Wednesday, after a release on US oil inventories showed the stockpiles rose 2.5 million barrels last week. As a result, Brent dipped 1.53% to fall below $50 a barrel, while Crude is trading down 2.6% to around $56.
All commodities without any exception were trading to the upside on Tuesday, even though some of them posted just a marginal increase in value at the end of the session. Among them were gold and corn, which added just 0.02% and 0.12%, correspondingly.
With no surprise, the precious metal posted a steep 2.9% plunge in price on Monday, while losses were even exceeding 4% at the worst moment early yesterday morning.
Gold dropped as much as 1.09% on Friday, but it was only the third worst-performing commodity from the list that is covered by our review. Corn and natural gas depreciated the most by 2.4% and 1.57%, respectively.
Commodities posted a confident downward development in course of the past 24 hours. Gold and silver suffered the least yesterday, by losing just 0.29% and 0.31%, respectively. However, other components that are included in our review, showed a decline of more than 0.5%, while Crude oil and 1.41% led the losers' side by depreciating as much as 1.1% and 1.41%,
Oil returned back in red on Wednesday, as investors were cautiously awaiting the fresh report on stockpiles in the US. Therefore, both Crude and Brent were down 3.07% and 2.5%, correspondingly.
It seems that events in Vienna, where the nuclear deal with Iran was signed, used to have no significant downward impact on oil prices.
Oil prices experienced a decline of more than one percentage point yesterday, as the Iran nuclear deal was approaching its final end after missing four deadlines in the past 18 days.
The most traded commodities, including gold and oil, were mostly unchanged in their price last Friday.
Despite early gains, gold advanced by just 0.1% yesterday and was the worst performer among major commodities that are included in our review.
Crude oil continued tumbling on Wednesday, by falling 1.30% after a slight decrease on Tuesday and a 7% slump back on Monday.
Greek crisis failed to increase demand for the safe-haven assets yesterday, while market participants are focusing on the Fed's first interest rate hike and stronger US Dollar.
Oil prices experienced one of the steepest daily declines in many months, by retreating as much as 7% on Greek "No" vote in a referendum back on Sunday. The outcome boosted the US currency, making commodities generally less attractive.
Natural gas, Crude oil, corn and silver were completely unchanged in their prices last Friday, reflecting calm trading session due to closure of the American market.
Even though the precious metal decreased in price by only 0.22% yesterday, it was the biggest loser of the trading session, while the majority of other commodities climbed.
All but one commodity on the market were on the side of under-performers yesterday, as only corn added 0.12%. In the meantime, oil dropped in price quite substantially Wednesday, by plummeting 4.22% and 2.48% for Crude and Brent types of it, respectively. Gold, however, suffered the least and was down just 0.3%.
Oil retreated the most among main commodities that are included in our review, as a daily decline reached 0.63%. Alongside, silver stood on the side of under-performers as well, while losing 0.25% on Tuesday.
The main under-performer on Monday was oil, which dropped by around 2% due to worries over Greece.