Commodity Blog

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Gold Weakens Even as Chances for QE3 Increase Posted: 26 Jun 2012 02:49 PM PDT Quite a few commodities rallied today, but gold was not among them. The rally was caused by negative fundamental data from the United States. Usually, bad fundamentals drive raw materials down, but in this case poor data increases chances for QE3. Gold should have profited from that, but it actually dropped. The question arises: if anything can lift the precious metal that was trading in a wide range since June 1, when it demonstrated a huge jump? Maybe uncertainty about the future of the European Union? Perhaps. Indeed, the metal advanced yesterday, when tensions were high. Today, though, gold gave away its yesterday’s gains. Gold dropped from $1,583.50 to $1,573.60 per ounce as of 21:45 GMT on COMEX today. (...) Read the rest of Gold Weakens Even as Chances for QE3 Increase (12 words) Posted on Commodity blog.

Commodity Prices — June 26th 2012 Posted: 26 Jun 2012 12:51 PM PDT Latest commodity prices (ICE, NYMEX, CME) as of 19:49 GMT: Oil (Brent) — $93.10 per barrel. Gold — $1,572.10 per troy ounce. Silver — $27.03 per troy ounce. Palladium — $593.10 per troy ounce. Platinum — $1,425.60 per troy ounce. Copper — $331.55 per 100 pounds. Cocoa — $2,160.00 per metric ton. Sugar — $20.52 per 100 pounds. Corn — $646.00 per 100 bushels. Soybean — $1,471.50 per 100 bushels. Posted on Commodity blog.

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