Commodities Update — Gold climbs; Wheat firms; Copper gains on demand hopes

  • 6/2/2022
  • 00:00
  • 7
  • 0
  • 0
news-picture

RIYADH: Gold prices rose on Thursday, with greenback-priced bullion drawing on support from slightly lower US Treasury yields and a retreat in the dollar. Spot gold was up 0.3 percent at $1,850.84 per ounce, as of 0719 GMT. US gold futures also climbed 0.3 percent to $1,855.00. Silver up Spot silver rose 0.6 percent to $21.94 per ounce. Platinum gained 0.7 percent to $1,003.51, while palladium climbed 1 percent to $2,016.19. Grains steady US wheat futures recouped losses to edge higher on Thursday, after a sharp decline in the previous session, as the market gauged the impact of diplomatic talks to unblock Ukrainian ports. The most-active wheat contract on the Chicago Board of Trade was up 0.22 percent at $10.43-1/2 bushel. Corn shed 0.44 percent to $7.28 a bushel, while soybeans edged 0.06 percent higher to $16.91 a bushel. Copper gains Shanghai copper prices rose on Thursday as the lifting of COVID-19 curbs in top metals consumer China buoyed hopes of demand recovery, although a stronger US dollar limited the upside. The most-traded July copper contract in Shanghai ended daytime trading up 0.7 percent at $10,803.56 a ton, as of 0718 GMT, in tepid trade, as the London Metal Exchange was shut for a public holiday. (With input from Reuters)

مشاركة :