Arab Today, arab today gold copper corn sizzle as fed
Last Updated : GMT 16:46:05
Arab Today, arab today
Arab Today, arab today

Gold, copper, corn sizzle as Fed

Arab Today, arab today

Arab Today, arab today Gold, copper, corn sizzle as Fed

New York - Arabstoday

Gold, copper and corn prices rallied on Friday, sending commodities broadly higher, after data showing softer US economic growth in the first quarter raised the prospect of more stimulus from the Federal Reserve. The weaker-than-expected data on US gross domestic product pushed the dollar down despite pressure on the euro from a downgrade of Spain\'s credit rating. Dollar-denominated commodities, which comprise nearly all key raw materials, including oil, rose to adjust to the drop in the currency. The Thomson Reuters-Jefferies CRB index, which tracks 19 commodities all traded in the dollar, gained nearly 0.75 per cent on the day and 1.4 per cent for the week. Sugar bucked the trend, falling to a near one-year low in New York trading. Gold had its biggest weekly gain since late February, rising for a fourth consecutive day. \"The GDP data may confirm ongoing stimulatory US monetary policies, which is positive for gold,\" said James Steel, chief commodity analyst at HSBC. Commodity prices had risen previously when the Fed engaged in two rounds of asset purchases to stimulate the economy. The dollar has fallen since Wednesday, when Fed Chairman Ben Bernanke said the central bank had not ruled out further stimulus, which in the past has involved printing more money. The spot price of gold, which tracks trades in bullion, rose 0.4 per cent on the day and 1.2 per cent on the week to fetch above $1,662 an ounce. Traders said investors saw the precious metal as a hedge against the dollar amid speculation over US stimulus, and a safe-haven bet against further deterioration in Spanish and Eurozone finances. Copper, often regarded as an economic barometer, hit three-week highs. Stimulus expectations aside, copper was lifted by falling stockpiles of the commodity in warehouses linked to the London Metal Exchange. The LME\'s benchmark three-month copper contract peaked at $8,433 (Dh30,975) per tonne, its highest since April 4, before going untraded at the close, and was last bid at $8,415. It closed on Thursday at $8,322. Corn became the CRB\'s biggest gainer for the day, jumping five per cent to close at $6.53 a bushel on the Chicago Board of Trade. Its weekly gain of seven per cent was the biggest since May 2011. Export data showed runaway demand for US corn, including last week\'s largest one-day shipment to China in 21 years. Oil closed little changed on the day, weighing US stimulus prospects against the possibility of a global drop in demand for energy.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gold copper corn sizzle as fed Arab Today, arab today gold copper corn sizzle as fed

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today gold copper corn sizzle as fed Arab Today, arab today gold copper corn sizzle as fed

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Girl barred from Malaysia chess competition

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday