Commodity Blog

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Europe Continues Drive Commodities Down Posted: 09 May 2012 05:00 PM PDT Commodities continued to decline as Europe is still a source of uncertainty and risk aversion. Greece is unable to form a government, leading to speculation that the country may leave the eurozone. Such outcome can potentially threaten the integrity of the euro-area. The problems in Europe affect commodities negatively as the European Union is one of the world’s largest importers of raw materials. Additionally, Europe’s woes make the dollar stronger, putting additional pressure on commodity prices. The Standard & Poor's GSCI Spot Index of raw materials slipped 0.1 percent today. The MSCI All-Country World Index of shares reached the lowest level since January. Gold slumped from $1,693.70 to $1,593.70 per ounce today on COMEX as of 23:48 GMT and the intraday low of $1,591.40 was the lowest since January 3. Copper went down from $3.6940 to $3.6715 per pound today. Futures for delivery rubber in October declined as much as 4 percent to $3,662 per metric ton on the Tokyo Commodity Exchange. (...) Read the rest of Europe Continues Drive Commodities Down (12 words) Posted on Commodity blog.

Commodity Prices — May 9th 2012 Posted: 09 May 2012 03:59 PM PDT Latest commodity prices (ICE, NYMEX, CME) as of 22:57 GMT: Oil (Brent) — $112.69 per barrel. Gold — $1,593.70 per troy ounce. Silver — $29.27 per troy ounce. Palladium — $616.60 per troy ounce. Platinum — $1,506.50 per troy ounce. Copper — $367.15 per 100 pounds. Cocoa — $2,334.00 per metric ton. Sugar — $20.42 per 100 pounds. Corn — $639.75 per 100 bushels. Soybean — $1,427.75 per 100 bushels. Posted on Commodity blog.

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