CUR - Commodity Roundup: Gold in narrow range oil ticks lower; Fed speakers in focus
2023-09-07 08:01:38 ET
Gold ticked up on Thursday, on its way to snap a three-day losing streak, but green-back priced bullion moved in a narrow range as investors braced for U.S. economic readings and comments from Fed policymakers for hints on the central bank's policy outlook.
Spot gold ( XAUUSD:CUR ) was up +0.28% to $1,921.61 per ounce by 7:51?am ET. Silver and platinum prices eased, while palladium ( XPDUSD:CUR ) continued to extend losses today for the fourth consecutive trading session. Boston Fed President Susan Collins said on Wednesday, it's too soon to declare that inflation is on a sustained path back to the Federal Reserve's 2% target.
Philadelphia Fed President Patrick Harker, Atlanta Fed President Raphael Bostic are among policymakers, whose remarks will be closely watched by the market later in the day.
Brent crude prices ticked lower after a three-day winning run, while U.S. natural gas futures edged higher.
Copper prices fell, as the dollar remained steady and investors fretted about global growth.
Meanwhile ANZ in a note said, aluminium prices have been under pressure in 2023 because of the weak global economic backdrop. "Of the industrial metals, it has the most diverse set of consumption drivers."
Soybeans, cocoa and wheat traded in red among agricultural commodities.
Recent Commodity Price Movements
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Energy
Metals
- Silver ( XAGUSD:CUR ) -0.75% to $23.01.
- Platinum ( XPTUSD:CUR ) -0.81% to $901.40.
- Copper ( HG1:COM ) -1.36% to $3.70.
Agriculture
Commodity ETFs
Gold ETFs:
Other Metal ETFs:
Oil ETFs:
Agriculture ETFs:
More on Brent Futures, US Dollar Index, etc.
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Commodity Roundup: Gold in narrow range, oil ticks lower; Fed speakers in focus