Commodities Update

30 March, 2016

Commodities Update

Commodities have been among most well-known assets in 2016. However, natural resources including oil and copper are at great risk, near term losses in the absence of any real improvement in the markets.

Here are some updates for the most common and well-traded commodities for today:

Crude Oil

Crude prices dropped on Tuesday as concerns over a rebound since Friday is declining out and as traders shifted their focus to United States inventory data, as markets also expect for more hikes in record highs.

United States crude oil futures slipped 1.52% or 60 cents to $38.79 per barrel after closing the last session to a plunge of 7 cents at $39.39 per barrel. As for Brent crude, it dipped 74 cents to $40.14 per barrel.

Metals

Gold plummeted but was kept supported above one month lows as market players kept a close eye on Fed Reserve Chair Janet Yellen’s speech. The central bank is still uncertain of the next United States interest rate hike.

The yellow metal futures sank 0.11% to $1,220.7 per ounce, as it climbed nearly 15% so far this year, supported by elevated safe haven demand amid worries over global economic growth in the early months of the year.

Meanwhile, silver futures for May delivery slumped 0.46% to $15.12 per ounce.

Copper for May delivery edged 1.2% lower to $2.219 per pound, as it slid back below $4,000 per ton this year.


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Gold Gains Ahead Of US Jobs Data

Market players kept their guards up as they await the US labor data report, a strong reading of which could urge the Federal Reserve to increase interest rates this month – a decision that would be bearish for non-interest bearing gold...

US Inflation Data Projected To Surge

The US economic growth has been sluggish in the first quarter, although not as strongly as initially expected, amid an increase in spending on home architecture and a constant increase in inventory investment by business...

Goldman Sachs: Market Flips into Deficit, Oil Surges

Oil prices increased more than 1 percent on Monday after Goldman Sachs stated that the market has ended for nearly two years of oversupply subsequent to a global oil disruptions and a market deficit...


AUD, NZD Edge Higher but Gains Still Limited

The Australian and New Zealand dollars rallied against the greenback on Wednesday, but gains were anticipated to stay capped by lower prices of crude oil...

World Stock Markets Soar

World stock markets rallied on Tuesday, fueled by a strong corporate earnings in Europe, including improvements on Greek debt talks and Japan’s new pledge in preparation to a weaker currency...

Gold Rallies as USD Plunges to 16-month Lows

Gold prices ticked higher as the greenback slid to 16-month lows during the session earlier. On the Comex division of the New York Mercantile Exchange, gold delivery for June rallied at $1,303.85 per troy ounce, advancing $6.55 or 0.51 percent...


Asian Shares Tumble, Nikkei Falls Against Yen

Analysts forecast that Germany DAX would hit 0.06 percent higher when the market opens, while France’s CAC 40 was anticipated to remain steady. Meanwhile, UK markets are closed due to a public holiday.

US Stocks Down after BOJ Hold Interest Rate

Shares in the U.S. plummeted following the decline of the stocks in the Asian market as the Bank of Japan left the interest rate unchanged...

U.S. futures Slides Ahead of Data Flow

Wall Street futures dropped on Friday after the Dow issued its first decline of more than 1% in two months, while investors are closely watching on data...

  


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