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Concerns over liquidity overshadowed any interest in buying gold at lower prices, causing the price of gold to plummet below $1,600. Despite a brief resurgence in the afternoon, gold ended the day at a four-week low, while silver futures posted mild losses. Platinum and palladium also suffered significant losses,
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Copper futures jumped sharply on September 15, 2011, after the European Central Bank announced a coordinated push to add liquidity into Europe's banking system, easing concerns about a looming liquidity crunch and European sovereign debt contagion. The move boosted confidence in the economic recovery, driving up the price
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Copper futures saw modest gains on Tuesday as concerns about Europe's debt problems temporarily eased, with German Chancellor Angela Merkel seeking to reassure markets that Germany is committed to helping Greece through previously announced measures. However, traders remain cautious and are looking to U.S. economic data due
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Gold prices remained relatively steady on Friday, September 9, 2011, as traders sought safe-haven assets amidst stock market declines. The December delivery gold contract on the Comex division of the New York Mercantile Exchange rose $1.30, or 0.1%, to $1,858.80 per troy ounce. The Standard &
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Copper futures slumped Thursday as concerns about slowing growth weighed on metals demand, with the commodity falling 2.05 cents to $4.1115 a pound on the Comex division of the New York Mercantile Exchange. The downturn came as the Labor Department reported a larger-than-expected increase in US jobless claims,
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Copper futures took a hit after the US government announced that August non-farm payrolls remained flat, with the unemployment rate stuck at 9.1%. The September contract for copper fell 6.20 cents, or 1.5%, to trade at $4.0805 a pound, touching a low of $4.0900 a
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Copper prices plummeted for a second consecutive day on September 2, 2011, as unexpectedly weak US employment data sent shockwaves through the markets, eroding investor confidence and weighing on the metal's prices. The US nonfarm payroll data showed a flat growth in August, with the government sector shedding
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Markets rallied broadly after a Federal Reserve announcement, with corn prices adding to their gains this week, leading to a surge in cattle futures. Federal Reserve Chairman Ben Bernanke urged policymakers to jumpstart the economy, echoing the sentiment of investors. As corn prices soared, cattle futures rose sharply, with CME
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Copper futures surged to a two-week high on Thursday, with traders betting that demand for the metal wouldn't be derailed by economic slowdown signs. The September copper contract rose 2.3% to $4.0915 a pound on the Comex division of the New York Mercantile Exchange, with the
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Copper futures on the New York Mercantile Exchange's Comex division rebounded from recent declines as a weakening dollar made dollar-denominated copper futures appear cheaper to buyers holding foreign currencies. The most-traded September contract rose 1% to $4.0070 per pound, while the thinly traded August contract gained 0.
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A weaker US dollar combined with heightened concerns about Europe's sovereign debt crisis pushed gold prices up on August 15, 2011. Despite stronger equities tempering gold's gains, investors sought the safe-haven commodity as a hedge against economic uncertainty. Technical indicators pointed to a move up, and
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California crude oil postings dropped by an average of $5.55 per barrel on Monday, following a sharp decline in New York crude oil futures. The plunge was attributed to the Standard & Poor's downgrade of U.S. debt, which highlighted the nation's fragile economic health.
