Commodity Market Outlook Today 26-May-2014
Posted: Mon May 26, 2014 3:03 am
Gold futures for August delivery fell 0.3 percent
Silver futures for July delivery fell 0.5 percent
Crude oil climbed to a five-week high
Aluminum rose to the highest in four weeks.
Gold futures fell for the second time in three days as signs of a recovery in the U.S. economy curbed demand for the precious metal as an alternative asset. Sales of new homes increased 6.4 percent, the most since October, government data showed. Silver futures for July delivery fell 0.5 percent to $19.418 an ounce on the Comex. This week, the price rose 0.5 percent. West Texas Intermediate oil climbed to a five-week high after U.S. crude inventories tumbled. Brent approached $111 a barrel. Copper in Shanghai climbed for a third day to a 11-week high as stockpiles tracked by exchanges in London, Shanghai and New York slumped. Aluminum rose to the highest in four weeks.
Silver futures for July delivery fell 0.5 percent
Crude oil climbed to a five-week high
Aluminum rose to the highest in four weeks.
Gold futures fell for the second time in three days as signs of a recovery in the U.S. economy curbed demand for the precious metal as an alternative asset. Sales of new homes increased 6.4 percent, the most since October, government data showed. Silver futures for July delivery fell 0.5 percent to $19.418 an ounce on the Comex. This week, the price rose 0.5 percent. West Texas Intermediate oil climbed to a five-week high after U.S. crude inventories tumbled. Brent approached $111 a barrel. Copper in Shanghai climbed for a third day to a 11-week high as stockpiles tracked by exchanges in London, Shanghai and New York slumped. Aluminum rose to the highest in four weeks.