Commodity Markets| Commodity tips

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Commodity Markets| Commodity tips

Post  RaahiShah on Wed Aug 01, 2012 3:43 pm

BASE METAL WRAP: London copper slipped on Wednesday after disappointing Chinese manufacturing data and as expectations faded for monetary stimulus this week in the United States and Europe. Three-month copper on the London Metal Exchange had fallen 0.63 percent to $7,512.25 a ton by 0902 GMT, after closing the previous session little changed and down 1.7 percent for the month of July.

ENERGY WRAP: Crude-oil futures prices settled 1.9% lower Tuesday as investors adjusted positions ahead of a scheduled Wednesday statement from the U.S. Federal Reserve's policy-making board. Prices rallied nearly $2 a barrel over four days last week, and re-summated at the $90-a-barrel level on expectations that the Fed was preparing to move soon with a fresh stimulus package to jolt the U.S. economy.

Natural-gas futures rose to their second consecutive double-digit monthly gain Tuesday as the humming of air conditioners thinned supplies of the commodity, which feeds about a third of the nation’s electricity.

PRECIOUS METAL WRAP: Gold was locked in a tight range on Wednesday, as investors watched the U.S. Federal Reserve and the European Central Bank, whose monetary policy decisions could determine the direction of markets.
Spot silver rose to $28.37 in the previous session, its highest in nearly four weeks. The metal with both precious and industrial properties inched up 0.1 percent to $27.95.

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