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.
While oil, gold and silver traded with just minor changes on Friday, there were two other commodities, which showed a considerable daily development.
Gold was broadly silent during the trading session on Thursday, as mixed fundamental environment in the US failed to encourage either bulls or bears for decisive moves.
US first-quarter GDP got an upgrade on Wednesday, therefore sending the safe-haven asset deeper to the downside.
The commodity market showed no united tendency on Tuesday, as oil and corn managed to rally, while others lost value during the trading session.
Demand for the safe-haven asset was curbed yesterday, following relatively successful negotiations between Greece and its creditors, which sent the bullion's price significantly to the downside.
Gold failed to extend gains on Friday, as the US Dollar returned to growth and pushed the precious metal 0.14% lower on the daily basis.
The yellow metal was undeniably the best performer of the yesterday's trading session, as it managed to surge by 1.38% on a daily basis.
The FOMC meeting yesterday used to have bearish impact on the US Dollar, as the Fed decreased US GDP growth forecasts for this year, while adding that the pace of monetary policy tightening is likely to be slower than anticipated in 2016.
Despite an advance of gold after the US fundamentals on Tuesday, the market stayed broadly tepid ahead of the key meeting of the Federal Reserve on Wednesday, when greater volatility is expected from the bullion. Moreover, the metal still failed to climb enough in order to register a daily increase in value, as it fell 0.37% on the day-to-day basis.
Commodity market performed in the mixed environment on Monday, as the only distinct market mover was natural gas, which surged 5% during the first trading session of the week.