Commodity Blog

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Gold Proves It Lost Safe Haven Appeal Posted: 04 Dec 2012 03:22 PM PST Gold dropped today amid fears of the fiscal cliff in the United States. Four weeks remained before $600 billion in tax increases and spending cuts will be triggered if President Barack Obama and Republicans would not reach a compromise. Economists are concerned that such an outcome may result in recession. Twenty-one of 24 raw materials, tracked by the Standard & Poor's GSCI Index, declined today. Previously, gold was [...]

Industrial Metals Climb on Europe’s Data, Remain in Danger Posted: 04 Dec 2012 09:58 AM PST Copper climbed today amid good news from Europe. Other industrial metals, including aluminum, also advanced. The metals are still in danger from the threat of the fiscal cliff in the United States that saps demand for riskier commodities. The eurozone Producer Price Index rose a little by 0.1 percent in October from the preceding month, while analysts have forecast no change. Spanish unemployment grew by 74,300 in November, less that [...]

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