Commodity Market Outlook Today 23-May-2014

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Jhon Kumar
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Commodity Market Outlook Today 23-May-2014

Post by Jhon Kumar » Fri May 23, 2014 1:56 am

Gold futures for August delivery rose 0.5 percent

Silver futures for July delivery gained 0.9 percent

Copper rose for the first time in three sessions

Nickel for delivery in three months climbed 1 percent

Gold futures rose after U.S. jobless claims increased more than forecast, boosting demand for the metal as a haven. U.S. jobless claims increased to 326,000 in the week ended May 17, government figures showed today. Silver futures for July delivery gained 0.9 percent to $19.52 an ounce on the Comex. Copper rose for the first time in three sessions on speculation that demand will climb after gauges of manufacturing advanced more than estimated in China and the U.S., the world’s largest consumers of the metal.

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