Coffee futures got a positive early start this week, building on last week’s gains to hit fresh highs of $1.571 per pound in New York trading. Previously, concerns over supply and positive projections for global demand pushed up the price of both coffee and cocoa. Since then cocoa has dropped, but traders have remained optimistic… Read more.
Commodities futures may be impacted by media reports indicating that Afghanistan could emerge as a major source of various precious metals and other materials in the coming years. According to a New York Times report, the country may have up to $1 trillion in untapped mineral deposits, ranging from gold and copper to cobalt, lithium… Read more.
The U.S. Commerce Department revealed that retail spending for the month of May fell by 1.2 percent, pushing U.S. stock market futures lower, though they began to recover as the day moved forward. Traders feared that the weak retail data undercut hopes for economic recovery, since most experts agree that around 70 percent of economic… Read more.
Gold futures for August delivery fell from the record prices they reached on Tuesday as stock markets moved a bit higher in early trading. Gold prices decreased by 0.9 percent to about $1,234.80 per ounce. The demand for gold is split between physical demand, mostly for jewelry or a few industrial processes, and hedging or… Read more.
Investors in gold futures have some potentially difficult choices to make in the coming weeks with the precious metal trading at yet another record level. For much of the past decade, gold prices have been on upward trajectory, which has invited warnings from some economists who maintain that there is a bubble underway that will… Read more.
Spot gold prices broke through previous highs and smashed records in several currencies during London trading on Tuesday, reaching $1,251.85 per ounce and 1,050.86 euros per ounce. Continuing uncertainty about the sustainability of European sovereign debt and a new warning from the Fitch rating agency that Britain faces a fiscal crisis weighed on investor demand… Read more.
Investors looking for a traditional safe harbor in light of ongoing jitters in the stock market may want to take a closer look at gold futures. Gold has enjoyed a price run-up over much of the last decade, but investors are still attracted to the precious metal because it is seen as a traditional safe… Read more.
Commodities investors may have reason to suspect that the economic recovery will be far more difficult than hoped, especially when it comes to areas like consumer spending. One such indicator came from the Conference Board Leading Economic Index, which posted a 0.1 percent decline in April after rising 1.3 percent in March and 0.4 percent… Read more.
Daniels Trading Senior Market Strategist, Burton Schlichter, was quoted in the MarketWatch article titled “Gold ends slightly higher on Intel outlook, CPI data.” “Gold is struggling with $900 an ounce,” said Burton Schlichter, senior market strategist at Daniels Trading. “As long as it stays under this level, trading is going to remain quiet.”