The list of commodities, which increased in value, was joined by gold on Monday. Natural gas and corn continued to rally by 1.7% and 1.5%, correspondingly, while the precious metal added 0.4%. On the other hand, oil continued to fall in price as Brent and Crude slid 3.2% and 1.3%, respectively.
Commodities were mostly losing value on Friday as only corn and natural gas advanced by 3.4% and 1.5%, respectively. On the side of losers, oil dropped in the range between 1.1% and 1.5%, while additional bearish risks are increasing. Among them, the major investment bank Goldman Sachs cut its 2016 forecast to $49.50 per barrel, down from the previous expectation
All commodities booked gains on Thursday, with daily positive changes ranging from 0.35% to 3.17%. Thursday's best performer was oil, which spiked at least 2.5% despite a worse-than-expected advance in US stockpiles, which added 2.6 million barrels last week as economists projected only a 0.9 million barrels' rise.
Only except corn, all commodities from our review lost more than one percentage point on Wednesday. Precious metals were driven downwards by positive news from China, where additional stimulus seems to be quite realistic, and traders preferring the riskier assets, such as US Dollar and equities. As a consequence, both gold and silver retreated 1.3% and 1.4%, accordingly.
Commodities traded confidently in green on Tuesday as all of them posted a positive daily change. Gold advanced the least by 0.2% as the bullion's traders are expecting some important statistics to be published in many countries around the world today.
Futures for the international benchmark Brent oil slid 3% on Monday, while contracts for Crude dipped 2.2% yesterday. In the meantime, gold prices saw no change during the most recent trading session as low volatility of the market persisted amid the Labour Day in the US. Other commodities including corn and silver were trading up and down in the range
The only positive performer on Friday of the previous week was corn, which added 0.2%. On the negative side, gold and silver lost 0.5% and 0.7%, respectively, as risks decreased amid positive US labour market fundamentals. In the meantime, oil dropped more than 2% again, with Crude falling 2.4% to $46 per barrel and Brent declining 2.8% below the $50
Gold was down 0.65% yesterday, while declining along with corn, which in turn lost 1.5%. On the other hand, fossil fuels have mostly advanced on Thursday, with natural gas leading gains at 2.8%. Oil prices grew in the range between 0.4% and 1.2% as risk appetite rose among investors after the European Central Bank confirmed it is ready to add
Oil posted gains after yesterday, with Crude adding 4.97% and Brent rising 4.07%, amid an increases in U.S. stockpiles last week and the first OPEC supply decline in a while.
After a three-day long streak of gains, oil fell under substantial selling pressure on Tuesday as investors are worried about China dragging global economic growth down. Yesterday morning the data showed manufacturing activity in China falling into contraction area. As a result, Brent slipped 8.2% and bounced back from $54 to under $49 per barrel, while Crude lost 7.5% in
Commodities had a bullish trading day in the beginning of this week, but an increase of many components was definitely overshadowed by oil prices, which continued to move upwards on Monday. Both Brent and Crude added 6.9% and 6.3%, respectively. The London-traded Brent jumped above $54 per barrel, the highest level since Jul 24. Meanwhile, any other commodity failed to
Gold advanced by 0.5% last Friday, but a weekly loss of more than 2% was inevitable as US Dollar strengthened due to positive fundamentals from America. In the meantime, oil continued to surge for a second consecutive day throughout the last trading day of the previous week. Brent climbed 4.5% to trade slightly above $50 per barrel, while Crude jumped
Gold showed no intentions to change in any direction on Thursday, as it added just 0.2% on a daily basis. However, oil prices booked a more than 8% rally on Aug 27, increasing bets they will register a first weekly advance after eight weeks of losses.
Gold was among the under-performers on Wednesday, while losing 1.9% on a daily basis. The only commodity, which tumbled even more, was silver with the -4.1% change. On the other hand, oil prices have generally continued to rebound as Brent rallied 1% to surpass the $44 mark, while Crude was broadly unchanged around $39.50 per barrel.
Oil was trading in green on Tuesday, but gains were not strong enough to push the Crude (+2.4%) price back above $40 per barrel, while a rally of 1.3% kept Brent above the $43 mark. On the contrary, precious metals traded in the bearish environment yesterday, as Chinese stock market volatility decreased and weighed on demand for safe-haven assets including
Gold was down 0.8% on Monday, as markets assume lower oil prices can negatively affect inflation both in developed and emerging markets. Consumer prices are in turn acting as a fundamental factor for the precious metal. Meanwhile, oil continued to tumble, as losses were sometimes extending below 6%. However, Brent finished the trading session with a decrease of 5.5% below
Gold reaffirmed its safe-haven status on Friday, as it was the only major commodity to gain value just before the weekend, namely 0.63%. At the same time, oil prices continued to plunge, as Brent and Crude lost around 2.4% to trade below $45 and $40 per barrel, accordingly.
Gold rallied almost 2% on Thursday, helped by diminished outlook for the first Fed rate increase since 2006 after softer than anticipated FOMC meeting minutes. Moreover, the yellow metal was boosted by the global rout in equity markets.
Precious metals were the biggest gainers from quite dovish Fed meeting minutes released yesterday evening, as silver and gold advanced 2.9% and 1.4%, respectively.
Crude climbed 1.3% on Tuesday in anticipation of another weekly report on US stockpiles, which are estimated to drop further. On the other hand, Brent was kept under pressure with a 0.12% loss on a daily basis.
Precious metals, which include silver and gold, traded on a positive territory yesterday. Their gains were extended up to 0.6% on a daily basis, while the majority of other commodities fell in value. Among them, oil was trading down 0.1-0.5%, as the downward pressure keeps to be created by rising global stockpiles amid Iran returning to the market.
Commodities traded lower on Friday, as Brent oil crashed 1.8% to fall below the level of $49 per barrel. On the contrary, Crude managed to hold marginally above 0%, while in terms of price it stood around $41. The same situation was observed with precious metals, as gold was unchanged during the last day of the previous week, while silver
Precious metals dropped more than 0.8% yesterday, as market volatility decreased after China's recent intervention in the currency market, while gold and silver are now focusing back on core fundamentals.
Both gold and silver were beneficiaries from decisions made by the People's Bank of China in recent days. They were up 1.4% on Wednesday, as devalued Yuan may increase volatility on the markets and create uncertainty over the world economic outlook.