U.S. wheat prices hit a seven-month high, a move that many analysts believe is a response to the Russian government’s interventions in the commodity’s markets.
Tensions between Russia and Ukraine prompted increased demand for storage havens on Tuesday as gold futures rose in value and barreled toward the threshold price of $1,400 per troy ounce, according to Bloomberg.
Poland, the native land of Pope John Paul II, announced on Wednesday it will strike collector coins to memorialize its native son ahead of when he is blessed, the Associated Press reports. The European nation will mint 500 gold coins that are worth 1,000 zlotys apiece, or the equivalent of $350. Lesser-valued gold coins also… Read more.
Stock futures around the world responded favorably on Thursday to reports that first-time unemployment claims fell more than expected this week. The news on the labor front was encouraging because only a week ago, investors were dismayed when unemployment claims shot up far more than expected to around 500,000. This week, 473,000 workers filed for… Read more.
Wednesday’s trading didn’t just start badly for equities traders – orange juice futures also suffered a drop, as a bumper crop from Florida may arrive just as demand for juice falls. Futures on the IntercontinentalExchange in New York fell 1.4 percent to $1.3705 per pound at 10:15 a.m. EST, reported Bloomberg News. Today’s fall follows… Read more.
Rio Tinto, the world’s biggest producer of iron ore after Brazil’s Vale SA, saw its earnings increase 125 percent to $5.77 billion in the first half of 2010. The company earned just $2.56 billion during the same period in 2009. The British-Australian mining company was aided by rising iron ore prices, which provided 70 percent… Read more.
After a strongly positive day of trading in global equity markets, crude oil broke a seven-day losing streak as some signals pointed towards recovery in the U.S. economy. Retail sales were one of the primary drivers of positive sentiment on Wednesday, as the International Council of Shopping Centers said that sales hit their best rates… Read more.