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12 Sep 2013
Commodities caught in choppy trading on Wednesday
FXstreet.com (Athens)- The greenback fell to near two-week lows against major currencies on Wednesday, therefore both crude and Brent oil futures rose slightly in a general choppy session day.
The greenback fell to near two-week lows against major currencies on Wednesday as some investors pared bets on a reduction in stimulus by the Federal Reserve when it meets next week. U.S. Treasuries prices rose, with the benchmark 10-year U.S. Treasury note up 15/32, and the yield at 2.9103 percent.
Crude oil prices edged up in choppy trading on Wednesday as investors worried about whether diplomatic efforts to eliminate Syria's chemical weapons would avert military action that could disrupt oil supplies from the Middle East. What’s more, Brent crude oil futures rose 25 cents to settle at $111.50. In the past two days, Brent fell more than 4 percent. Precisely, on Tuesday, it dropped to a two-week low. U.S. crude oil for October delivery rose 17 cents to settle at $107.56 a barrel. U.S. oil prices were consolidating after three weeks of trading between $104 and $112 per barrel.
The spot price of gold was lower near midday on Wednesday, after hitting a three-week low early, pressured by an easing of tensions with Syria and by worries the U.S. Federal Reserve may scale back its monetary stimulus. The spot gold metal price inched down 30 cents to $1,363.29, having earlier fallen to its lowest since Aug. 22 at $1,356.85 an ounce. U.S. gold futures for December delivery settled down 20 cents an ounce at $1,363.80. Last but not least, silver, which fell to a three-week low of $22.75 an ounce earlier, rebounded 0.8 % to $23.12.
The greenback fell to near two-week lows against major currencies on Wednesday as some investors pared bets on a reduction in stimulus by the Federal Reserve when it meets next week. U.S. Treasuries prices rose, with the benchmark 10-year U.S. Treasury note up 15/32, and the yield at 2.9103 percent.
Crude oil prices edged up in choppy trading on Wednesday as investors worried about whether diplomatic efforts to eliminate Syria's chemical weapons would avert military action that could disrupt oil supplies from the Middle East. What’s more, Brent crude oil futures rose 25 cents to settle at $111.50. In the past two days, Brent fell more than 4 percent. Precisely, on Tuesday, it dropped to a two-week low. U.S. crude oil for October delivery rose 17 cents to settle at $107.56 a barrel. U.S. oil prices were consolidating after three weeks of trading between $104 and $112 per barrel.
The spot price of gold was lower near midday on Wednesday, after hitting a three-week low early, pressured by an easing of tensions with Syria and by worries the U.S. Federal Reserve may scale back its monetary stimulus. The spot gold metal price inched down 30 cents to $1,363.29, having earlier fallen to its lowest since Aug. 22 at $1,356.85 an ounce. U.S. gold futures for December delivery settled down 20 cents an ounce at $1,363.80. Last but not least, silver, which fell to a three-week low of $22.75 an ounce earlier, rebounded 0.8 % to $23.12.