7 Apr 2014
Commodities subdued following Friday's jitters
FXStreet (London) - Commodities markets remain under pressure nearly across the board, with copper and natural gas the only contracts making any real gains so far today.
WTI trims gains
WTI prices have shed 30 cents to USD100.84 a barrel on contracts for May delivery. The dip follows a bullish run through last week, with prices hitting a high of USD101.14/barrel.
Gold prices dip after Friday's haven gains
Gold prices have dipped below Friday’s 1-week highs, after hitting USD1,306.84 following the slightly disappointing US non-farm payroll data. Spot gold is currently trading at USD1,299.54/oz, down 0.30 percent on the session.
However, beyond the short-term haven demand for gold triggered by last week’s jitters, gold is likely to slide through 2014 – failing further emerging market blow ups – as the Fed remains committed to tapering its monthly asset purchases. Though NFPs just missed market expectations of a 200k+ print, recent data has suggested that US recovery is regaining momentum, reducing safety demand for gold.
Prices continue to rise at US pumps
US gasoline prices rose by almost five cents in the week ending 4 April, according to a survey of 2,500 filling stations.
Prices rose by an average of 4.93 cents, with regular grade gasoline rising to an average retail price of USD3.6065 per gallon of regular grade gasoline, according to the Lundberg survey released yesterday.
According to the Lundberg survey, retail gasoline prices have been rising since 7 February, after declining in the latter part of 2013 and into the beginning of this year.
WTI trims gains
WTI prices have shed 30 cents to USD100.84 a barrel on contracts for May delivery. The dip follows a bullish run through last week, with prices hitting a high of USD101.14/barrel.
Gold prices dip after Friday's haven gains
Gold prices have dipped below Friday’s 1-week highs, after hitting USD1,306.84 following the slightly disappointing US non-farm payroll data. Spot gold is currently trading at USD1,299.54/oz, down 0.30 percent on the session.
However, beyond the short-term haven demand for gold triggered by last week’s jitters, gold is likely to slide through 2014 – failing further emerging market blow ups – as the Fed remains committed to tapering its monthly asset purchases. Though NFPs just missed market expectations of a 200k+ print, recent data has suggested that US recovery is regaining momentum, reducing safety demand for gold.
Prices continue to rise at US pumps
US gasoline prices rose by almost five cents in the week ending 4 April, according to a survey of 2,500 filling stations.
Prices rose by an average of 4.93 cents, with regular grade gasoline rising to an average retail price of USD3.6065 per gallon of regular grade gasoline, according to the Lundberg survey released yesterday.
According to the Lundberg survey, retail gasoline prices have been rising since 7 February, after declining in the latter part of 2013 and into the beginning of this year.