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Gold & Rubber Run Out of Steam

October 30, 2013 at 4:08 by Vladimir Vyun

Gold declined today, pairing its rally, as the Federal Reserve starts its policy meeting. It is expected that the Fed maintain quantitative easing and such outlook was helping the metal previously. Yet now it looks like gold has ran out of steam and needs to take a breather. Bullion for delivery in December slipped $2.7 (0.2 percent) to $1,342.8 per troy ounce as of 3:51 GMT on COMEX today.

Coffee declined on forecasts of increasing supply. Rains in Brazil should improve conditions for crops and may lead to a record harvest next year. Analysts expect that global stockpiles will reach a highest level in five years. December coffee lost $0.006 (0.56 percent) to $1.0695 on ICE.

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

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