Commodity Blog

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Commodities Mixed During Quiet Trading

May 25, 2015 at 17:24 by Vladimir Vyun

Markets are struggling to find direction today due to quiet trading. Volumes are lower than usual as the holiday in the United States means that many markets are closed. For now, crude oil and metals are rising while grains are falling.

It is a bit surprising to see raw material relatively strong after the poor performance on Friday. Commodities have been under selling pressure ahead of the weekend because of the stronger dollar, and the US currency retained its strength today. Yet despite that some dollar-priced assets managed to rally anyway.

August futures for gold gained 0.25 percent to $1,207.90 per troy ounce as of 17:15 GMT on COMEX today. WTI crude oil advanced 0.23 percent to $59.86 per barrel on NYMEX. Meanwhile, July futures for wheat dropped 1.29 percent to $5.1525 per bushel on CBoT.

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

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