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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.
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Copper futures fell sharply on August 8, 2011, after the Standard & Poor's credit downgrade of the US credit rating. The downgrade triggered economic concerns, leading to a decline in copper prices, which are considered a bellwether of economic growth. The most actively traded contract for September delivery
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Copper futures struggled to stabilize on August 2, 2011, as a stronger dollar kept prices under pressure despite a modest increase in July US car sales. The Comex September copper contract settled at $4.3950/lb, a 0.3% decrease from the previous day's close. Car sales data,
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Copper futures experienced a relief rally after US lawmakers reached a deal to raise the national borrowing limit, but the gains were short-lived as a stronger dollar and concerns over the agreement's long-term impact curbed prices. As the US debt deal took shape, copper prices surged, only to
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Copper futures took a hit on Wednesday, falling 3.15 cents, or 0.7%, to settle at $4.4465 a pound on the Comex division of the New York Mercantile Exchange. The decline came as a result of a strengthening dollar, which makes dollar-denominated futures more expensive for buyers using
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Copper futures retreated on Monday as negotiations between US lawmakers to raise the debt ceiling stalled, casting a cloud of uncertainty over global markets. The metal, sensitive to economic outlooks due to its broad applications in construction and manufacturing, dropped 0.3% to $4.3955 a pound on the Comex
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Copper futures rose on Friday on the view that steady global demand and disruptions in mine production would outweigh worries about the economic health of the US and Europe. Despite weak readings on US consumer confidence, industrial production, and New York-area business conditions, copper's rise was driven by
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Copper futures plummeted for the second session on Monday, weighed down by concerns over Europe's escalating debt crisis and China's escalating inflation. The steel price, a crucial indicator of economic growth, sank 0.9% to $4.3735 a pound on the Comex division of the New
