Gold ended the year on an up note, rising in spite of strong news coming out of Washington, D.C., about the potential for a deal on the looming financial cliff. Bloomberg reports that gold prices rose an impressive 7 percent on the year, despite failing to near the record price set in September 2011 and… Read More.
Recent optimism regarding the fiscal cliff talks in Washington, D.C., has started to wear down somewhat, as the recent gains to oil prices faltered on Friday afternoon. Bloomberg reported on Friday morning that the energy commodity was set to see its largest one-week gain in roughly four months, as negotiations between U.S. President Barack Obama… Read More.
Three weeks of losses continued on Thursday for wheat futures as the grain fell to its lowest value in about five months, according to Bloomberg. The Plains and the Midwest of the U.S. endured the wrath of a winter storm this week, which provided cover for the grain and helped stave off frost. The cover… Read More.
The Australian dollar dropped against each of its 16 major counterpart currencies on Thursday as U.S. political leaders facing a daunting deadline prepared to convene again to discuss staving off next year's automatic implementation of more than $600 million in tax hikes and spending cuts, Bloomberg reports. The Aussie was heading toward its top losses… Read More.
Gold futures were slipping on Wednesday, marking the first trade session of losses in four days, according to Bloomberg. Senior broker Kurt Pfafflin with Daniels Trading said debt troubles with Greece "drag on and on and on" even though officials and authorities conduct mass amounts of meetings for the sake of the betterment of the… Read More.
Economic data released by the U.S. government prompted wheat and corn futures to lose value on Wednesday, according to Bloomberg. Wheat futures dropped to their lowest value in five months and corn futures endured the challenges presented by reduced overseas demand for the grain from the U.S., which is the globe's top shipper. For week… Read More.
Crude oil prices climbed on Wednesday as the leader of the largest-consuming nation opted to cut short his vacation to return to conduct fiscal negotiations before the daunting end-of-year deadline, according to Bloomberg. More than $600 billion in tax increases and spending cuts are set to automatically begin next year if U.S. President Barack Obama… Read More.
Laborers at the globe's largest copper mine turned down a wage proposal, which helped the reddish metal to its top gain in nearly one month on Wednesday, according to Bloomberg. Owned by BHP Billiton, the Escondida mine in Chile might do its part to reduce global supplies of the reddish metal after the wage proposal… Read More.
Wednesday saw the Japanese yen sink to its lowest value in 20 months against the world's reserve currency as the nation approved an intervention-friendly prime minister and the central bank released minutes from last month, according to Bloomberg. Host of the globe's third-largest economic system, Japan kicked off the term of Shinzo Abe, who repeatedly… Read More.
Conjecture about reduced production in two key South American nations drove soybean futures higher in value on Monday, according to Bloomberg. Dry weather threatens the legume's crops in Brazil while heavy rain is pinching the harvest in Argentina. Brazil is set to push past the U.S. as the globe's largest producer of the legume, according… Read More.