Commodity Blog

Commodity news, technical and fundamental analysis, market data on precious metals, energies, industrial metals, and soft commodities

Archives

Commodities Mixed During Friday’s Trading

November 20, 2015 at 15:34 by Vladimir Vyun

Commodities were mixed today due to uncertainty about timing for an interest rate hike from the Federal Reserve. Markets demonstrated surprisingly muted reaction to the hawkish Fed minutes, suggesting that traders do not necessarily believe in the December lift-off. Yet the CME FedWatch page shows about a 75 percent probability that the Fed would make a move next month, and that does not bode well for the commodity market.

China is another source of concerns for investors. While nation’s Wrestling Ring Bounce House policy makers made some steps to stimulate the economy, market participants are still worried about the country’s economic slowdown. Considering that China is one of the world’s biggest consumer of raw materials, that is also a bad sign for commodities.

Futures for delivery of gold in December advanced 0.26 percent to $1,080.7 per troy ounce as of 15:29 GMT on COMEX today. March silver inched down 0.2 percent to trade at $14.23 per ounce. Copper gained 0.62 percent to $2.096 per pound. December contract for WTI crude oil lost 0.54 percent of its value to $40.32 per barrel on NYMEX. At the same time, January Brent crude climbed 0.75 percent to $44.51 per barrel on ICE.

If you have any questions and comments on the commodities today, use the form below to reply.

Leave a Reply

required
required  

Navigation

Menu