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Gold & Silver Gain on Dollar Woes, Corn Drops After USDA Report

March 31, 2016 at 18:51 by Vladimir Vyun

Gold and silver rose today as the US dollar remained vulnerable. Comments of Federal Reserve chief Janet Yellen continue to weigh on the US currency, helping precious metals. In fact, gold was heading to the best quarter since 1986. June contract for gold gained 0.4% to $1,233.5 per troy ounce as of 18:41 GMT on COMEX today. Silver advanced as much as 1.41% to $15.43 per ounce.

Corn declined today after the report from the US Department of Agriculture. The USDA reported that planted area for corn is estimated to be at 93.6 million acres in 2016, up 6% from the previous year. It would be the third highest acreage since 1944. Contract for delivery of corn in May tumbled 4.5% to $3.505 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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