Commodity Blog

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Natural gas & Gold Rise with Demand, Oil Gains on Weak Dollar

May 25, 2011 at 2:23 by Vladimir Vyun

Natural gas advanced on the speculation that rising temperatures in the US will increase demand for the power plant fuel to support air conditioners. June futures for natural gas delivery added $0.116 to $4.346 per million British thermal units on NYMEX. Analysts predict that in the near term the prices will move between $4 and $4.50.

Oil rose as the dollar declined 0.4 percent against the euro. Crude also gained as Goldman Sachs Group Inc. and Morgan Stanley predicted that the prices will rise. Futures for delivery of crude oil in July gained $1.89 to $99.59 per barrel on NYMEX.

Gold advanced on the speculation that the debt crisis in Europe will worsen. Greece accelerated its asset sales and budget cuts to receive new bailout. June futures for delivery of gold rose $7.90 (0.5 percent) to $1,523.30 per ounce as of 13:41 on COMEX.

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