The selloff in gold is infecting metal markets from copper to zinc and tin. “Commodities are not in vogue,” Daniel Briesemann, an analyst at Commerzbank AG in Frankfurt, said by e-mail. “The speculative financial investors are still withdrawing from the markets. The weakness of the precious metals prices is spilling over to the base metals.”
Australian retail sales rose more than expected in August Buz Traders Australian retail sales rose On a MoM basis, the seasonally adjusted retail sales recorded a rise of 0.40% in Australia, in August, more than market expectations for a rise of 0.20%. In the prior month, retail sales had recorded a flat reading. LME Copper prices declined 0.34% or $16.5/MT to $4775.0/MT. Aluminium prices rose 1.24% or $20.5/MT to $1670.5/MT. For the 24 hours to 23:00 GMT, the AUD declined 0.94% against the…
LME Copper prices traded on a flat note on Monday as Greece bailout came as a relief for markets. However, gains were capped as China's economic growth is forecast to be the weakest since the global financial crisis in the second quarter,
The recent slump in copper prices, amid an economic slowdown in China, was a reminder of the need to diversify the economy. LME copper prices have lost about 10 percent this year, trading at $6,565 per tonne.
Daily Commodity Market News & Levels-22 September 2016 : HIGHLIGHTES-> 1. LME Copper Sets for Gains. 2. NYMEX, Brent prices gain solidly as U.S. stockpile figures aid sentiment. 3. Gold prices gain in Asia as Fed holds pat as expected, FOMC views eyed.