Commodity Market Outlook Today 07-July-2014

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Jhon Kumar
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Commodity Market Outlook Today 07-July-2014

Post by Jhon Kumar » Mon Jul 07, 2014 1:34 am

Gold for August delivery rose 0.1 percent

Silver for September delivery rose 0.3 percent

Copper for delivery in three months lost 0.4 percent

LME aluminum, lead and tin slid. Zinc was little changed.

Nickel fell from a six-week high

Crude oil fell for a seventh day, the longest retreat since 2009.

Gold rose in London, heading for the longest streak of weekly gains since March, after German factory orders fell more than expected. Silver for September delivery rose 0.3 percent to $21.20 an ounce. The metal, which is traded as a store of value and also used in industry, is on course for a fifth weekly advance that’s the longest run since August. Nickel fell from a six-week high in London amid speculation supply of the metal is ample for now, easing concern about a potential shortage after Indonesia barred exports of raw ores in January.

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