BS:Futures and Commodities – Silver Prices Decline while Gold Advances – Nearly all products were lower
(Best Syndication News) Gold climbs while nearly all other commodities fall today (see commodities charts below). The central economic factor Wednesday was the Greek crisis. Investors turned to the dollar and gold as safe havens.
Precious Metals
Silver declined while gold advanced (see survey #2 settle price chart below).
August gold on the COMEX advanced $1.80 (+0.12%) to $1,526.20 a troy ounce. Since the settle, the value of the golden metal continued to climb another 90 cents.
Silver for July delivery fell slightly – less than one cent. Silver settled at $35.41 per troy ounce.
Platinum, copper and palladium were all lower. Platinum fell 1.15 percent; palladium dropped 2.11 percent and copper fell 0.79 percent. The ratio between gold and silver climbed slightly to 43.
In Tokyo both gold and silver advanced (see Tokyo Commodity Exchange chart below) early Thursday.
Gold for April 2012 delivery rose 0.63 percent while silver was up 0.55 percent. Platinum and palladium were both lower.
Energy Prices
Light Sweet Crude on the New York Mercantile Exchange (NYMEX) fell $4.56 (-4.59%) to $94.81 a barrel. Brent crude on the Intercontinental Exchange (ICE) was down $7.15 (-5.95%) to $113.01 a barrel.
Ethanol, coal, natural gas and gasoline were all lower. See the survey #2 settle chart and TOCOM chart below for more details.
Agricultural Products
Cocoa on the NYMEX (CSCE) fell $60.00 (-2.0%) to $2,943 per ton (see survey #1 chart below).
Coffee was down 1.83 percent, corn was down 2.70 percent and cotton fell 4.32 percent. Soybeans were up 8.5 cents (+0.62%) to 1,369 cents per bushel. Sugar was up 0.33 percent and wheat fell 2.63 percent.
Lean hogs were higher while live cattle futures were lower. Pork bellies were unchanged.
