The two metals diverged in Wednesday trading, with physical demand and investors seeking a discount moving into gold, while bearish economic data hit silver. Gold closed 0.2 percent higher at $1,160.40, while silver settled at $17.44, an unexpected drop of 1.1 percent. Silver lost out today, with weak consumer demand for durable goods affecting the… Read more.
It wasn’t a good day to be long in commodities, with most major commodities except for cocoa, cotton, corn and orange juice futures taking hits as traders registered their fear of a global slowdown. The trend started in stock futures, which pointed slightly lower and then quickly tumbled. All three major indexes ended the day… Read more.
Gold futures fell sharply Thursday to settle at $1,206.70 per ounce on the Comex in New York, reflecting a general flight to the perceived safety of the dollar and dollar assets. Investors appeared to favor Treasury notes and safe bonds, registering their fear that deflation is a greater threat than inflation. The Spanish Treasury sold… Read more.
Concerns about sovereign debt, weak employment and a deflating housing market all helped push the price of gold up today. Gold futures for immediate delivery rose by $12.80 to $1247.60 per troy ounce, off of the yellow metal’s earlier record highs but its strongest performance of the week. Gold was basically reacting to the generally… Read more.
Silver futures for immediate delivery rose .24 percent to $18.90 per troy ounce today, beating out gold futures and raising some expectations that silver could continue to perform well through this year and on to the next. The past month has seen silver outperform gold by about 1 percent, even as gold repeatedly hit record… Read more.
Futures brokers and commodities traders looking to place a bet on the success or failure of specific movies will have to wait another week to find out the fate of the proposed box office futures contracts, according to the LA Times and other news sources. The Commodity Trading Futures Commission (CTFC) has been considering a… 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.