Friday 19 September 2014

Commodity Market Outlook for Today

Gold futures tumbled to an eight-month low

Silver futures for delivery in December fell 1.2 percent

Crude futures dropped 1.4 percent

Copper futures capped the biggest decline in more than a week

Aluminum, nickel and lead also dropped in London, while tin and zinc rose.

Gold futures tumbled to an eight-month low after the Federal Reserve raised its outlook for interest rates, crimping demand for an inflation hedge. Silver futures for delivery in December fell 1.2 percent to $18.517 an ounce. The price touched $18.27, the lowest since June 28, 2013. West Texas Intermediate and Brent oils fell as a stronger dollar curbed the appeal of commodities to investors looking for a store of value. Copper futures capped the biggest decline in more than a week on demand concerns amid signs that housing markets are sputtering in China and the U.S., the two biggest users.

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