Sunday, August 16, 2009

Commodity Current

from Bloomberg:

Gold Declines for a Second Day as Dollar's Advance Versus Euro Saps Demand Gold declined for a second day as the dollar advanced against the euro, eroding demand for the metal as an alternative investment, and commodities dropped.

Crude Oil Trades Near Two-Week Low as Supply Gains Counter Hurricane Risk Crude oil fell to the lowest in more than two weeks as reduced demand and rising stockpiles in the U.S. will ensure adequate supplies during the North Atlantic hurricane season.

Copper Extends Fall From 10-Month High After U.S. Confidence, Stocks Slump Copper fell for a second day, extending a decline from a 10-month high, after U.S. stocks dropped, renewing investors’ concern that the metal’s rally isn’t justified by economic prospects.

Rubber Futures Decline as Much as 3.2% as Oil Price Slump may Curb Demand Rubber futures in Tokyo declined as much as 3.2 percent after crude oil prices slumped.