Anxious financial markets sent precious metals prices to the upside on Monday, just in the wake of the nearing April meeting of the Federal Reserve.
Colder US weather outlook lifted natural gas futures on April 22, with prices adding more than 3% over the whole trading day. On top of that, another support was created by oil's bullish momentum.
Oil prices bounced back on Thursday, thereby posting a 2-3% decline in day-to-day value. Major producers of black gold threatened to increase output, as Russia and Saudi Arabia are competing for dominance in terms of market share.
Crude prices continue rallying, with massive increases posted by both brands of oil depending on the exchange where they are traded. Futures soared almost equally by 4% on day-to-day basis, after inventory data for the US matched analysts' anticipations.
All commodities with no exception that are included in this daily review posted massive gains over this week's second working day. The rally exceeded one full percentage point for all components, with the leader being natural gas.
In the beginning of this week's commodity trading oil dips were touching the 6-7% mark, following a big failure to reach an agreement about freezing production at the talks in Doha, Qatar.
Oil futures were sent into a somewhat negative territory on Friday, just ahead of crucial output talks that were taking place in Doha over the weekend.
Corn was forced to remain the only component, among commodities included in this review, to add value on Thursday. Moreover, it became the best gainer for a second consecutive working day.
We have seen a big move in terms of corn prices on Wednesday, because they appreciated by 3.15% and were followed by soaring natural gas (1.60%) with quite a wide gap.
All commodities except the safe haven gold added more than 1.5% on Tuesday, with the gains led by all energy components.
Prices of both precious and energy commodities continued to rally during the first working day of this week, helped by broader risk-on sentiment and other influential factors.
Commodity prices held to gains on Friday of the previous week, as a flow of positive fundamental news was able to put most of them on a bullish track.
Futures for natural gas see an aggressive post-season rally, as yesterday they skyrocketed by 5.60% and outperformed all of its major peers.
A formidable 5% surge in oil prices was accelerated by unexpectedly falling US stockpiles, even though economists had estimated another increase in reserves prior to the release.
Finally, it was a positive day for many commodities on April 5. Given the weakening US Dollar in the run up to the FOMC meeting minutes' release later on Wednesday, precious metals posted a very healthy price spike of more than one full percentage point.
Futures for natural gas spiked the most among main commodities on Monday, by rallying about 2.15% over the past 24 hours.
All but one commodity were down in price on the first day of April, as only corn appreciated by about seven tenths of one percent. General direction of the market is clearly reflected in the benchmark S&P GSCI Index, which was pushed down by 2.17% over 24 hours through Friday evening.
Commodities have been clearly divided into the gainers and losers on Thursday. Among the latter, natural gas fell for the first time in several working days and capped the winning streak that took place due to colder US weather forecasts.
Natural gas prolonged its gaining streak to three consecutive days, as yesterday it managed to add 0.76% to its value.
Notwithstanding quite depressed US Dollar in the wake of dovish remarks made by the Fed Chair Janet Yellen yesterday, oil prices failed to sustain their price increases and finished the second trading session of this week with a dip of 2.8%.
Natural gas prices spiked the most among major commodities on March 28, not least due to the fact that this component was the only one to receive influential side-effect news.
Commodity market registered a mixed development on March 24, but the majority of components included in Dukascopy daily review kept declining amid broadly uplifted US Dollar.
Commodity market registered a mixed development on March 24, but the majority of components included in Dukascopy daily review kept declining amid broadly uplifted US Dollar.
All commodities without any exception took a massive hit to their prices on Wednesday, owing to much heavier and confident US currency.