Commodity Blog

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Gold Rises After US Nonfarm Payrolls Posted: 08 Mar 2013 10:15 PM PST Gold advanced yesterday after US nonfarm payrolls came out much better than was predicted by specialists. The payrolls climbed by 236,000 in February, compared to the median forecast of 162,000. On top of that, the unemployment rate fell by 0.2 percentage point to 7.7 percent. Traders speculated that unemployment is still far from the Federal Reserve’s target of 6.5 percent, making it unlikely that the Fed will remove stimulus soon. As an interesting [...]

Worsening Prospects for Crop Boost Orange Juice Posted: 08 Mar 2013 09:24 PM PST Futures on orange juice climbed on forecast of smaller harvest from Florida, the second-biggest grower in the world. The US Department of Agriculture revised its projection for yield from the US state to 139 million boxes of oranges from 141 million. This was below the last year’s crop of 146.6 million and analysts’ expectations of 139.6 million. Citrus greening, a crop disease, was blamed for smaller output. Dry weather in most of the citrus-growing regions was [...]

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