The reduced credit rating of the globe's sole superpower did its part to push down crude oil futures, Bloomberg reports. Fears are spreading that the U.S., also the world's largest consumer of crude, will cut down on demand for oil as the globe's economic recovery from the recession confronts a rough patch. Political negotiations in… Read more.
Preoccupations about a sputtering global economic recovery and growth drove the market down and gold futures up Friday as investors sought a haven asset, Bloomberg reports. Debt is saddling the U.S. and the euro zone. July saw the U.S. create 85,000 jobs, which did not reduce the unemployment rate below 9 percent. Reports indicated growth… Read more.
Worries about debt on both sides of the Atlantic Ocean pushed gold to record highs on Wednesday, according to Bloomberg. Presently at $1,675.90 per troy ounce, the record price for the yellowish metal was partially driven by troubles with the globe's largest economy. U.S. President Barack Obama signed into law the debt ceiling increase and… Read more.
Next year might see Asia's third-largest coffee grower produce as much as 6.7 percent more of the soft commodity, Bloomberg reports. So long as India receives a sufficient amount of rain nourishment, exports will increase, according to the Coffee Board, the subcontinent's official agency. Production of Arabica beans is projected to rise 11 percent to… Read more.
Gold futures were driving toward record highs Wednesday morning and poised to gain in value for the seventh straight day as the spreading sovereign debt crisis prompted investors to seek a haven investment, MarketWatch reports. Moody's Investors Service slashed its rating of debt in Ireland to "junk" status, as the nation represents yet another member… Read more.
Worries about the sovereign debt crisis pushed down coffee futures Tuesday amid the dollar's gaining strength as the euro dipped, Bloomberg reports. Finance ministers of European Union member nations did not strike the possibility of Greece easing into a temporary default as a method of restricting the debt scourge that now has enveloped Italy. The… Read more.
Gold futures slipped Tuesday morning as the U.S. dollar gained strength while the euro flailed from the widening sovereign debt crisis, Bloomberg reports. A strengthening dollar typically detracts value from the yellowish metal, as was the case on Tuesday as a result of European Union finance ministers' inability to put an end to the sovereign… Read more.
Cotton futures drove down in value Monday as the dollar's sharply increasing value deterred exports of the soft fiber and other commodities, Bloomberg reports. When held up against six rival monetary units, the U.S. dollar drove to its top price in six weeks. Cotton futures sank to their lowest value in about nine months. The… Read more.
Debt concerns and reduced Chinese demand for oil pushed down crude oil futures on Monday, according to published reports. The energy commodity lost 2.1 percent of its value as the euro plunged in value amid the potential of a double bailout for Greece and Italy. Imports to China slipped 10 percent, spurring worries that demand… Read more.
Concern about slumping economic growth decreasing demand for copper pushed down the industrial metal's futures on Monday, Bloomberg reports. Italy has emerged as a serious concern and risk to euro zone officials as the next European Union nation to come under public scrutiny for sovereign debt turmoil. Italy was the globe's seventh largest consumer of… Read more.