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 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.
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.Publication source