WEEKLY REVIEW - JUNE 30th - JULY 4th - COMMODITIES JULY 6th Gold Ends Up Despite Jobs Report - Palladium Hits 14-Year High - Oil Correcting - Grains Plummet Commodities kicked off the second half of 2014 with a mixed performance across some of the major sub-sectors. The $CRB Reauters Commodity Index nevertheless fell for a second week in a row due to heavy losses in crops including corn and soybeans together with soft commodities such as sugar and Arabica coffee. Precious metals were higher despite the adversity stirred up by another strong US jobs number which strengthened the dollar and sent stocks and bond yields higher. Despite being shortened by the U.S. Independence Day holiday on Friday, this week was an active one for commodities. Metals prices rallied across the board, while energy and grains moved lower. At the same time, stock markets hit fresh record highs. The S&P 500 topped 1,980, gaining 1 percent in the week and bringing its year-to-date gain up to 7.2 percent.
Posted on: Sun, 06 Jul 2014 05:56:19 +0000
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