gold futures

gold futures

November 29th, 2016

Gold futures prices slipped on Tuesday as the dollar stabilized after falls in the previous session as investors turned their attention to upcoming U.S. economic reports and Wednesday’s OPEC meeting.

Gold was trading at $1,187.0 a troy ounce by 0857 GMT. The precious metal ended the previous session with gains of 0.39%.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last at 101.33.

Gold is priced in dollars and becomes less attractive to holders of other currencies when the dollar rises.

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crude oil futures quotes

crude oil futures quotes

November 28th, 2016

Crude oil futures prices jumped in choppy trade on Monday after Iraq’s oil minister said he was “optimistic” that Wednesday’s crunch OPEC meeting will yield an agreement on output cuts.

U.S. crude oil was up 78 cents or 1.78% at $46.88 a barrel at 0931ET, after falling as low as $45.16 earlier.

Global benchmark Brent futures were at $49.08 a barrel, up 81 cents or 1.68%.

Prices jumped after Iraqi oil minister Jabar Ali al-Luaibi said Monday he is “optimistic” that OPEC will reach an agreement that is acceptable to all this week.

The Organization of the Petroleum Exporting Countries is attempting to get its 14 member states, along with non-OPEC member Russia, to implement coordinated production cuts aimed at reducing a global supply glut that has seen oil prices halve in two years.

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commodity investing 101

commodity investing 101

November 21st, 2016

Hedge funds turned bearish on agricultural commodities at the fastest rate in nine months, provoking hopes in grains that selling pressure may be spent for now – but spurring worries in sugar of “much lower” prices.

Managed money, a proxy for speculators, lifted its net long position in futures and options in the top 13 US-traded agricultural commodities, from corn to sugar, by 151,096 contracts in the week to last Tuesday, analysis of data from the Commodity Futures Trading Commission regulator shows.

That represented the biggest reduction since February in the net long – the extent to which long bets, which profit when values rise, exceed short holdings, which benefit when prices fall.

And it came in a week in which ag bulls suffered two notable blow – the first from the rise in the dollar, following the election of Donald Trump as US president, and the second from larger-than-expected official estimates for US corn and soybean crops.

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crude oil futures news

crude oil futures news

November 15th, 2016

Oil prices were higher during North America trading on Tuesday, extending overnight gains as market participants continued to weigh prospects of a coordinated production cut among major global oil producers.

Crude oil for December delivery on the New York Mercantile Exchange jumped by as much as 3.6% to a session high of $44.95 a barrel.

It was last at $44.57 by 9:10AM ET (14:10GMT), up $1.25, or 2.9%, after sliding to $42.20 the day before, a level not seen since August 11.

Elsewhere, Brent oil for January delivery on the ICE Futures Exchange in London climbed $1.23, or 2.77%, to $45.66 a barrel. It dropped to as low as $43.57 in the prior session, the weakest since August 11.

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cattle futures news

cattle futures news

November 14th, 2016

Shares in the Australian agricultural services group Elders Limited rallied, as the company reported rising profits thanks to booming cattle prices and strong demand for farmland.

Elders reported profits up 35% in the year to September, at $51.6m, with revenues up 9% to $1.64bn.

“High cattle prices have driven higher livestock earnings and also real estate sales demand for large cattle farming properties”, said Elders chief executive Mark Allison.

Cattle prices in Australia have been supported by herd rebuilding, as farmers hold back cattle to increase herd numbers, after high slaughter driven by years of drought.

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