On Thursday, gold rose as Middle East tensions offset the solid dollar after investors softened their forecasts for another US Fed interest rate reduction. In the Asian afternoon session, the yellow metal’s futures for December contracts surged by 0.14% to $2,682.90 an ounce. Analysts have observed a counterbalance between factors such as geopolitical tensions, shifts …
Gold Price Surges as Mideast Conflict Offsets Dollar Read More »
On Thursday, cocoa prices slipped, posting a three and a half week low, due to rain in West Africa, accelerating the likelihood of better crops for the region. US cocoa futures for December shipments declined by -5.47% to $6,853.00 per metric ton (MT) on September 04’s Asian afternoon session. The beans’ prices were weighed on …
Cocoa Contracts Declined on Better West African Weather Read More »
On Friday, gold prices surged to new record highs on a sluggish dollar and anticipation of the US Federal Reserve (Fed) beginning to cut interest rates in September. In the Asian afternoon session, the yellow metal futures for December delivery rose by 0.47% to $2,528.60 per troy ounce. Furthermore, factors driving gold prices bullish are …
Gold Price Rises to Record Highs on Hopes of Fed Rate Cuts Read More »
On Thursday, wheat prices declined amid Kazakhstan’s output surpluses as good weather boosted optimism for the looming fall harvest. In the Asian afternoon session, the crop’s futures for December delivery eased by -0.07% to $5.45 per bushel. The Foreign Agriculture Service (FAS) has increased its forecast as Kazakhstan has good weather conditions, which could cause …
Wheat Dips on Kazakhstan Supply Rise, Challenges Persist Read More »
Oil prices traded higher on Thursday as the latest inventory data from the Energy Information Administration (EIA) pointed towards tightening supplies in the US. Brent crude oil futures expiring in October gained 0.13% to $78.43 per barrel, while the US West Texas Intermediate crude futures added 0.29% to $75.45 per barrel. Discount buying also supported …
Oil Prices Surge on EIA US Inventory Draw, China Curbs Rise Read More »
On Monday, wheat prices fell further to their lowest levels in three and a half months, weighed by freshly harvested crops in the US and Russia. US wheat futures for September delivery declined by 1.48% to $543.10 per metric ton in the Asian afternoon session. According to traders, favorable Russian weather supported the harvest’s progress …
Quick Look: Cocoa soared: 61.38% gain in 2023, 132.75% in Q1 2024, topping $9,750/ton. Chocolate industry pressure: Rising cocoa costs squeeze margins, but growth looms. Grains and oilseeds decline: Corn, soybean, and wheat values dropped over 15-30.5%. Market divergence: Soft commodities rise sharply, grains/oilseeds fall. Cocoa’s outlook: Prices may climb due to supply issues, with …
On Friday, the price of coffee fell amid growing bean production in India as Starbucks reshapes the country’s food and beverage industry. Coffee futures for December delivery shed 2.98% to ¢150.23 per pound as markets closed on September 22. In 2012, John Culver, that time’s president of Starbucks Asia Pacific, identified India as an important …
Coffee Prices Fall as Starbucks Revolutionizes India Read More »
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