Futures for delivery of copper rallied today with the help of the
The same risk appetite that helped copper drove prices for gold lower. The losses were limited due to reports that China increased its gold holdings by 1 percent in August. Now, traders wait for employment reports from the United States that will be released over the next several days. The data can affect the outlook for timing of monetary tightening from the Federal Reserve, and consequently prices for the metal. Futures for delivery of bullion slipped 0.17 percent to $1,124.9 per troy ounce today.
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