2023-09-14 06:15:40 ET
Gold prices held steady on Thursday as U.S. inflation data reinforced bets for a hawkish pause at the September policy meeting, with investors' focus turning to the next set of data for further cues on rate path.
Spot gold was little changed at $1,906.43 by 06:09 am ET.
Market participants also awaited the European Central Bank's rate decision at 1215 GMT.
Brent crude prices meanwhile remained supported by tightening supplies, with U.S. natural gas futures also trading higher. The situation in the global gas market however remained tensed with prices expected to be volatile as workers at Chevron's Wheatstone and Gorgon liquefied natural gas facilities in Australia ramped up a strike action.
According to a Reuters report, Freeport LNG's natural gas intake at its plant in Texas was well below capacity for a fifth straight day, suggesting a persistent outage at the plant.
"Sentiment in the (oil) market clearly remains constructive after the International Energy Agency (IEA) in its latest monthly oil market report warned about the market tightening significantly over the remainder of the year due to ongoing OPEC+ supply cuts," ING said in a note.
Among agricultural commodities, cocoa prices rose, while soybeans and wheat inched lower.
Recent Commodity Price Movements
-
Energy
Metals
-
Platinum ( XPTUSD:CUR ) +0.22% to $902.16.
- Silver ( XAGUSD:CUR ) -1.23% to $22.56.
- Copper ( HG1:COM ) -0.05% to $3.75.
Agriculture
Commodity ETFs
Gold ETFs:
Other Metal ETFs:
Oil ETFs:
Agriculture ETFs:
-
More on United States Brent Oil Fund, LP, Crude Oil Futures, etc.
- Compare metrics for BNO to CORN, CPER, DBA, DBO, GDX
- DBO: As Good As It Gets To Trade Oil
- Gold Opportunities In The Outback
- BNO Can Continue To Rally
- Yes, Gold Is An Alternative Form Of Money
- Refined Products: Middle Distillate Tightness To Persist
For further details see:
Commodity Roundup: Gold holds ground after CPI data; gas prices gain as supply risks loom