CUR - Commodity Roundup: Gold oil traders eye inflation data; September WASDE report in focus
2023-09-12 05:53:01 ET
Gold prices eased on Tuesday, as the dollar ( DXY ) held firm, and investors positioned for the August inflation data ahead of the much anticipated Federal Reserve policy meeting next week.
Spot gold was down -0.13% at $1,919.23 by 05:53 am ET.
Traders widely expect the Fed to skip a rate hike at the upcoming meeting.
In base metals, iron ore futures ( SCO:COM ) rose 3%, rising for a second-consecutive day, as markets got a boost from latest round of data from China, with inflation returning to positive territory in August.
"The value of the net investor position across global commodity futures markets increased by 23.5% WOW (for week ending Sept. 8) amid lengthening in energy and metals markets," J.P. Morgan Commodities Research said on Monday.
"Crude oil does the heavy lifting once again, pushing global commodity market open interest to its highest level in over a year," it added in a note.
Elsewhere, Brent futures were trading above $91 a barrel, and natural gas rose for a second day.
Among agricultural commodities, cocoa futures gained, while corn and wheat fell as markets looked ahead to the WASDE government crop report . Investors will closely scan the domestic yield figures for corn and soybeans.
Recent Commodity Price Movements
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Energy
Metals
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Platinum ( XPTUSD:CUR ) -0.22% to $896.30.
- Silver ( XAGUSD:CUR ) -0.16% to $23.03.
- Copper ( HG1:COM ) -0.18% to $3.76.
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Agriculture
Commodity ETFs
Gold ETFs:
Other Metal ETFs:
Oil ETFs:
Agriculture ETFs:
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Commodity Roundup: Gold, oil traders eye inflation data; September WASDE report in focus