Tuesday , April 23 2019
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Andrew Moran

Andrew Moran

I am a full-time professional writer. Prior to my self-employment, I worked as a reporter for Digital Journal covering the politics beat and The Toronto Times reporting on the city’s entertainment scene. I currently write mostly about business, marketing and finance

Articles by Andrew Moran

Gold Steadies at Four-Month Low Amid Weaker Dollar, Mixed Equities

23 hours ago

Gold futures are posting mild gains to kick off the trading week. The yellow metal is hovering around a four-month low, but it is rising on mixed equities and a weaker US dollar. After suffering a loss during the holiday-shortened week, gold prices are trying to avoid a fifth consecutive weekly loss.
June gold futures tacked on $1.40, or 0.11%, to $1,277.40 per ounce at 17:36 GMT on Monday. Gold recorded a 1.5% loss last week, bringing its year-to-date decline to 1.6%.
Silver, the sister commodity to gold, is rising on the Easter Monday. May silver futures added $0.03, or 0.2%, to $14.985 an ounce. The white metal posted a 0.4% weekly gain, but it is still down more than 4% on the year.
Precious metals benefited from a falling US dollar as the currency tumbled 0.11% to 97.29. The greenback

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Natural Gas Slips As Stockpiles Meet Market Expectations

5 days ago

Natural gas futures slipped on Thursday after the US government reported that domestic inventories rose as what the market had anticipated. Investors are concerned about a growing global supply glut, especially on news that a Greek energy firm discovered an immense supply of natural gas in Israel.
May natural gas futures tumbled $0.01, or 0.44%, to $2.50 per million British thermal units (btu) at 14:55 GMT on Thursday on the New York Mercantile Exchange. Natural gas prices are headed for a steep weekly loss of about 6%, increasing their year-to-date losses to more than 7%.
According to the US Energy Information Administration (EIA), domestic inventories of natural gas climbed by 92 billion cubic feet for the week ending April 12. This is in line with the median estimate of 90 billion cubic

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Soybean Falls as US Pushes China to Shift Tariffs to Other Imports

6 days ago

Soybean futures are tumbling midweek after reports that US trade representatives are trying to get China to shift their tariffs away from soybeans to other imports. This news came after it was confirmed US soybean shipments plummeted to a one-year low last week, showing that trade tensions, geopolitical strife, and domestic issues in foreign markets are hurting American farmers.
May soybean futures dipped $0.005, or 0.06%, to $8.875 per bushel at 13:00 GMT on Wednesday on the Chicago Board of Trade (CBoT). Soybean prices have failed to generate any momentum in 2019, unable to post significant gains. Year-to-date, the agricultural commodity is down more than 2%, and it could be lower but there is still a lot of optimism that the US and China will strike a new trade deal soon.
Although

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Wheat Plunges As Prices Face Pressure From Global Inventories

7 days ago

Wheat futures are plunging on Tuesday as the agricultural commodity faces increasing pressure from soaring global stockpiles. Investors are also keeping a close eye on a US delegation visiting Brazil to discuss with industry leaders about higher import demand amid incoming quotas from the government.
May wheat futures tumbled $0.1175, or 2.56%, to $4.4775 per bushel at 15:03 GMT on Tuesday on the Chicago Board of Trade (CBoT). Wheat has joined domestic agriculture’s bear market, plummeting more than 12% so far this year, and analysts do not anticipate wheat prices to spike anytime soon.
According to the US Department of Agriculture (USDA), global wheat prices will be weighed down by ballooning inventories and improving US yield prospects. In its monthly report, the USDA reported that

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Copper Falls Despite Higher Chinese Imports, Lower Inventories

8 days ago

Copper futures are kicking off the trading week in the red, despite a number of bullish factors that would typically send the industrial metal higher. In addition to the world’s second-largest economy importing more copper, warehouse stocks have slipped for the third consecutive day.
May copper futures fell $0.0135, or 0.46%, to $2.9325 per pound at 17:01 GMT on Monday on the Comex division of the New York Mercantile Exchange. The red metal has had a great start to 2019, advancing more than 10% year-to-date.
According to the National Bureau of Statistics, China imported 391,000 tonnes of copper in March, up 25.7% from the previous month. It is also 26.5% higher than the previous year. Copper concentrate imports also increased in March, climbing to 1.77 million tonnes.
The renewed demand

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Gold Rises on Falling US Dollar, Capped by Bullish Data

11 days ago

Gold futures are rising at the end of the trading week, supported by a sliding US dollar. The yellow metal’s gains were capped on bullish economic data, leaving investors with the impression that there is very little safe-haven demand. Gold has been unable to muster up any significant momentum as the precious metal seesaws in the $1,300 range.
June gold futures tacked on $2.70, or 0.21%, to $1,296.00 per ounce at 15:31 GMT on Friday. Gold is on track for a small weekly boost of 0.1%, but it is still down 0.13% year-to-date. Gold has had an interesting week as prices posted their lowest settlement so far this month, but then they finished at their highest levels since March 26.
Silver, the sister commodity to gold, is also nearing the important $15 mark. May silver futures surged $0.12,

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Natural Gas Slides 1% on Weekly Supply Jump

12 days ago

Natural gas futures tumbled more than 1% on Thursday after the US government reported a weekly jump in domestic inventories. Natural gas is also finding direction on reports that President Donald Trump has ordered the removal of barriers to construction of new and existing pipelines, which could boost US output to even higher levels and increase the country’s global market share.
May natural gas futures fell $0.03, or 1.05%, to $2.67 per million British thermal units (btu) at 17:59 GMT on Thursday on the New York Mercantile Exchange. Natural gas has not performed at the same level as it did last year, dipping nearly 1% year-to-date. The energy commodity is on track for a 1% weekly gain.
According to the US Energy Information Administration (EIA), domestic natural gas inventories climbed

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US Crude Rises Amid Jump in Supplies, Drop in Gasoline Inventories

13 days ago

Crude oil futures are rallying midweek after the US government reported a more-than-expected increase in domestic inventories and an immense decline in gasoline supplies. Investors are also concentrating on the Organization of the Petroleum Exporting Countries (OPEC) and focusing on sanctions affecting major oil-producing markets.
May West Texas Intermediate (WTI) crude futures surged $0.50, or 0.78%, to $64.48 per barrel at 19:39 GMT on Wednesday on the New York Mercantile Exchange. US crude prices continue their impressive 2019 performance, advancing nearly 40% year-to-date, with a third of those gains coming in the last month.
Brent, the international benchmark for oil prices, is also soaring in the middle of the trading week. June Brent crude futures added $1.05, or 1.49%, to $71.66

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Soybean Slides Amid Steady Supply of Industry News

14 days ago

Soybean futures are sliding on Tuesday as a plethora of industry news is driving trading patterns. Investors are combing through multiple reports about supply, demand, and production levels, looking to find the next opportunity in futures contracts. Surprisingly, the US-China trade war did not have an impact on soybean prices at the beginning of the trading week.
May soybean futures tumbled $0.01, or 0.11%, to $8.975 per bushel at 16:16 GMT on Tuesday on the Chicago Board of Trade (CBoT). Soybean has had a disappointing start to 2019, slipping more than 1% year-to-date and plunging 13% over the last 12 months.
The US Department of Agriculture (USDA) published multiple industry reports this week, suggesting interesting times are ahead for key soybean markets.
African swine fever has

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Copper Soars 1% As Investors Brace for Global Supply Deficit

15 days ago

Copper futures are surging as much as 1% to kick off the trading week. The industrial metal has been on a tear for much of 2019, posting double-digit gains since the beginning of the year. With investors bracing a global supply deficit by next year, could the red metal inch closer to its record high of $4.58? Copper producers can only hope they can add on to their string of advances.
May copper futures rose $0.0335, or 1.16%, to $2.928 per pound at 13:08 GMT on Monday on the Comex division of the New York Mercantile Exchange. Copper prices posted a tepid weekly gain of just 0.02%, but they are up more than 10.5% year-to-date.
This week, global copper players will meet in Chile to discuss industry developments, trends, and news. It is widely expected that the conference will concentrate

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Gold Falls on Stellar Jobs Report, Rising US Dollar

18 days ago

Gold futures are tumbling at the end of the trading week amid a stellar jobs report that beat market expectations. A stronger dollar also sent the yellow metal lower, which will record a tepid weekly loss as investors boost risk appetite.
June gold futures slipped $2.40, or 0.19%, to $1,292.10 per ounce at 12:32 GMT on Friday. Gold prices, which are poised for a three-session skid, will post a weekly decline of about 0.5%, bringing their year-to-date losses to about 0.4%.
Silver, the sister commodity to gold, is looking to muster up some momentum. May silver futures rose $0.005, or 0.03%, to $15.09 an ounce. The white metal is flat for the week, and it is also down more than 3% so far in 2019.
According to the Bureau of Labor Statistics (BLS), the US economy added 196,000 jobs, beating

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Wheat Futures Flat As Traders Wait for April Showers

19 days ago

Wheat futures are trading sideways on Thursday as investors appear to be waiting for weather conditions to affect short-term patterns. With more rain expected in the Midwest, potentially impacting commodity prices, traders are taking a wait-and-see approach to wheat. Investors already got burned on spring wheat futures as flooding effects on acreage have greatly diminished in recent days.
May wheat futures dipped $0.0025, or 0.05%, to $4.7075 per bushel at 16:09 GMT on the Chicago Board of Trade (CBoT). Wheat prices are poised for a weekly gain of 1.5%, but they are still down more than 7% year-to-date and 13% over the last 12 months.
According to the US Department of Agriculture (USDA), 56% of the US winter wheat was rated in good-to-excellent condition, beating the median estimates

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Crude Oil Fluctuates After Unexpected Jump in US Inventories

20 days ago

Crude oil futures are trading up and down midweek after the US government reported an unexpected increase in domestic supplies. US crude prices, trading near five-month highs, have been gaining on sharp decreases in global production and optimism of renewed demand from the world’s second-largest economy.
May West Texas Intermediate (WTI) crude futures rose $0.10, or 0.16%, to $62.68 per barrel at 15:15 GMT on Wednesday on the New York Mercantile Exchange. WTI prices have advanced more than 5% in the last week, bringing their year-to-date gains to more than 33%.
Brent, the international benchmark for oil prices, is also struggling to find direction in the middle of the trading week. June Brent crude futures edged up $0.07, or 0.1%, to $69.44 a barrel on London’s ICE Futures exchange. Brent

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Coffee Futures Dip As Global Supply Glut Continues

21 days ago

Coffee futures are trading lower on Tuesday as the global supply glut continues. With prices falling under a buck, coffee has cratered to a 13-year low, leaving growers drowning in red ink. The bearish times may be short-lived, though, because a new forecast suggests the surplus may turn into a deficit.
May coffee futures tumbled 0.55 cents, or 0.6%, to 91.55 cents per pound at 18:04 GMT on Tuesday on the US ICE Futures exchange. Coffee prices have had a rough start to 2019, sliding nearly 13% in the first quarter. Investors are not optimistic that coffee can reverse course in the short-term.
Coffee has been in a freefall since September 2016 when prices peaked at just under $2 per pound. For the second consecutive season, coffee inventories have been oversupplied with production topping

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Soybean Rallies As Supplies Face Flood Risk, Demand Surges

22 days ago

Soybean futures are rallying to kick off the trading week, buoyed by risks to supplies and a surge in demand. With spring rains threatening half of the US soybean crop in the Midwest and China importing more from the US amid trade negotiations between the world’s two largest economies, it might be a big week for the agricultural commodity.
May soybean futures rose $0.13, or 1.47%, to $8.9725 per bushel at 16:02 GMT on Monday on the Chicago Board of Trade (CBoT). Soybean has had a difficult start to 2019: prices posted a weekly loss of 1.1% last week, suffered a quarterly decline of 1.1%, and is down nearly 1.2% year-to-date.
On Monday, the US Department of Agriculture (USDA) announced that China recently purchased 828,000 tonnes of soybeans, making it the second sale since the two sides

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Gold Firms Above $1,300 on Cooling US Economy Fears

25 days ago

Gold futures have firmed above $1,300 at the end of the trading week. It has been a volatile week for the yellow metal, falling to a two-week low and slipping below this crucial threshold. But gold will still post a quarterly gain, stemming mostly from a slowing US economy, global uncertainty, and the trade war between the world’s two largest economies.
June gold futures advanced $8.20, or 0.63%, to $1,303.50 per ounce at 13:35 GMT. Gold prices are on track for a weekly loss of 1.2%, but it will record a first-quarter increase of 0.6%.
Silver, the sister commodity to gold, is rallying to finish the trading week. May silver futures surged $0.20, or 1.3%, to $15.17 per ounce, after sliding under the $15 mark on Thursday. The white metal is also poised for a weekly decline of just under 2%,

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Natural Gas Plummets Despite Weekly Drop in US Supplies

26 days ago

Natural gas futures are trading lower on Thursday after the US government reported a decline in domestic inventories, matching market forecasts. With warmer temperatures prevalent across North America and India surprisingly taking up global market share, natural gas prices have cratered this past week, bringing the energy commodity into the red on the year.
April natural gas futures tumbled $0.05, or 1.8%, to $2.69 per million British thermal units (btu) on Thursday on the New York Mercantile Exchange. Natural gas is on track for a weekly decline of about 5%, and it is down 0.1% year-to-date.
According to the US Energy Information Administration (EIA), domestic natural gas inventories declined by 36 billion cubic feet for the week ending March 22. This matches the median estimates of 33

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Oil Dips on Unexpected Weekly Jump in US Crude Supplies

27 days ago

Crude oil futures are recording a modest decline midweek after the US government reported an unexpected increase in US inventories. Oil prices have been finding support on potential supply disruptions in Venezuela, but these gains were offset by boosts in fuel stockpiles. Investors will now likely concentrate on supply and demand trends for the remainder of the week.
May West Texas Intermediate (WTI) crude oil futures tumbled $0.35, or 0.58%, to $59.59 per barrel at 14:55 GMT on Wednesday on the New York Mercantile Exchange. US crude prices have been sliding over the last five trading sessions, but they are still up nearly 27% year-to-date.
Brent, the international benchmark for oil prices, is trading relatively flat in the middle of the trading week. May Brent crude futures slid $0.07,

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Copper Holds Steady Despite US Recession Fears, Disappearing Deficit

28 days ago

Copper futures are holding steady on Tuesday, looking to record its second consecutive session gain. Investors are remaining cautious that a US recession could impact demand levels, even if the federal government initiates its long-proposed $1 trillion infrastructure spending plan. It had also been anticipated for a while that there would be a global supply deficit, but a new estimate suggests this deficit will be wiped out.
May copper futures rose $0.0065, or 0.23%, to $2.863 per pound at 19:21 GMT on Tuesday on the Comex division of the New York Mercantile Exchange. The industrial metal has had an excellent first quarter of 2019, advancing more than 8% year-to-date.
There is a lot of talk of a recession hitting the US. Although officials say that the economic boom could be extended

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Soybean Rises on Higher Chinese Imports, Historic US Flooding

29 days ago

Soybean futures are rallying to kick off the trading week as the agricultural commodity got a boost from higher Chinese imports of US soybeans and a historic flood that impacted a major soybean market. Investors are also paying attention to a new report that found Brazil and Canada saw its soybean exports surge, thanks to higher demand from the world’s second-largest economy.
May soybean futures tacked on $0.0225, or 0.25%, to $9.06 per bushel at 12:50 GMT on Monday on the Chicago Board of Trade (CBoT). Soybean was flat last week, continuing its rough beginning to 2019 as prices are down 0.1% year-to-date.
According to the General Administration of Customs, China imported 907,754 tonnes of US soybeans in February, up from 135,814 tonnes in January. The increase was part of the 90-day trade

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Orange Juice Falls Back in the Red Despite Consumer, Industry Trends

March 22, 2019

Orange juice futures are sliding on Friday as prices are on track for a weekly decline. Despite the recent surge, orange juice has slipped back into the red on the year. What exactly is going on with the classic breakfast staple? For investors, it has become increasingly more difficult to trade OJ futures, though May and June contracts have garnered a couple of “buy” ratings.
May orange juice tumbled $0.0075, or 0.59%, to $1.2675 per pound at 13:37 GMT on Friday on the US ICE Futures exchange. Orange juice prices are on track for a small gain of just 0.1%, but they are down about 0.35% year-to-date. Orange juice has had an impressive March, advancing nearly 4%.
ResearchAndMarketing released its “Fruit Juice Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast

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Natural Gas Flat on Modest Decline in US Inventories

March 21, 2019

Natural gas futures are trading sideways on Thursday after the US government reported a modest decline in domestic supplies. The latest industry data also suggests that US exports have hit a new all-time high as output and demand levels continue to soar.
April natural gas futures dipped $0.001, or 0.04%, to $2.819 per million British thermal units (btu) at 15:01 GMT on Thursday on the New York Mercantile Exchange. Natural gas is on track for a weekly loss of around 1%, lowering its year-to-date gains to a little more than 4%.
According to the US Energy Information Administration (EIA), domestic inventories of natural gas declined by 47 billion cubic feet for the week ending March 15, which is in line with what the market had anticipated. In total, US supplies stand at 1.143 trillion cubic

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Sugar Slides After Hitting Two-Week High

March 20, 2019

Sugar futures are tumbling midweek after reaching their best levels in two weeks on Tuesday. The agricultural commodity is in the red as the market increases its net short positions. With an international supply deficit anticipated by the end of the growing 2019/2020 season, some analysts think that certain markets are offsetting the general trend of production cuts.
May sugar futures dipped 0.02 cents, or 0.16%, to 12.76 cents per pound at 15:32 GMT on Wednesday on the US ICE Futures exchange. Sugar prices are finally trading higher after posting three consecutive bearish years. Year-to-date, sugar is up more than 5%, though it is still down 11% in the last 12 months.
According to the US Commodity Futures Trading Commission (CFTC), money managers and hedge funds have increased their net

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Copper Rises on Supply Deficit Forecasts, Chinese Stimulus

March 19, 2019

Copper futures are strengthening on Tuesday, though intraday gains have been pared. The industrial metal is rising on the latest forecast that suggests there will be a global supply deficit by the end of the year. Copper prices were also lifted on Chinese stimulus, bullish hopes for second-quarter growth, and Poland potentially cutting copper taxes.
May copper futures rose $0.015, or 0.5%, to $2.92 per pound at 17:48 GMT on Tuesday on the Comex division of the New York Mercantile Exchange. Year-to-date, copper is up more than 10%, but it has been nearly a year since the red metal touched the crucial $3 mark.
Antofagasta, one of the world’s largest miners, predicts that the global copper market will slip into a deficit by the end of the year. The Chilean miner anticipates a deficit

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Gold Firms Above $1,300 Ahead of Fed Meeting

March 18, 2019

Gold futures are hovering slightly above the important $1,300 threshold to kick off the trading week. Ahead of the Federal Reserve’s policy meeting, the yellow metal is rising on a weaker US dollar, global uncertainty, and disappointing economic data.
April gold futures edged up $1.20, or 0.09%, to $1,304.10 per ounce at 16:30 GMT on Monday. Last week, gold posted a modest gain of 0.75%, bringing its year-to-date increase to 1%.
Silver, the sister commodity to gold, is starting the trading week in the green. May silver futures rose $0.03, or 0.2%, to $15.355 an ounce. The white metal also advanced last week, climbing 0.2%, but it is still down nearly 2% so far this year.
On Wednesday, the rate-setting Federal Open Market Committee (FOMC) will complete its two-day policy meeting. The market

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Soybeans Rally Despite Doubts on Chinese Demand Amid Swine Fever

March 15, 2019

Soybean futures are rallying as much as 1% to finish the trading week, despite bearish sentiment impacting the US agricultural market. As China continues to deal with the outbreak of African swine fever that has struck a blow to the nation’s pig farming sector, investors have doubts that the world’s second-largest economy will live up to its pledge to purchase more US soybeans.
May soybean futures rose $0.085, or 0.95%, to $9.065 per bush at 14:08 GMT on Friday on the Chicago Board of Trade (CBoT). While flat on the year, soybean prices are on track for an impressive weekly gain of roughly 1.3%. It has been a roller coaster ride for soybean so far this year, trading in the $9.00 to $9.40 range, and then maintaining a descending pattern since the end of February.
Last week, Reuters reported

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Natural Gas Jumps 1% as US Supplies Fall

March 14, 2019

Natural gas futures are rallying as much as 1% on Thursday as the US government reported that domestic inventories fell in the range of what the market had anticipated. Natural gas prices are trading in the 50-day moving averages, but they are on track for a modest weekly drop.
April natural gas futures rose $0.027, or 0.96%, to $2.847 per million British thermal units (btu) at 17:19 GMT on Thursday on the New York Mercantile Exchange. Year-to-date, natural gas is up about 5.5%, but it is poised for a weekly loss of around 0.5%.
According to the US Energy Information Administration, domestic supplies of natural gas plunged by 204 billion cubic feet for the week ending March 8, which is in line with the median estimate of 208 billion cubic feet. In total, US stockpiles stand at 1.186

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US Crude Rallies 2% on Steep Decline in Domestic Inventories

March 13, 2019

Crude oil futures are rallying as much as 2% midweek, buoyed by a stellar US government report that showed a significant drop in domestic inventories. Oil prices are now eyeing their third consecutive session win as they gain support from lower global production and US sanctions on Iran and Venezuela, some of the biggest crude producers in the world.
April West Texas Intermediate (WTI) crude oil futures advanced $1.11, or 1.95%, to $57.98 per barrel at 17:54 GMT on Wednesday on the New York Mercantile Exchange. Barring a major crash, US crude prices are on track for a big weekly gain of around 3%. Year-to-date, WTI is up nearly 25%.
Brent, the international benchmark for oil prices, is also surging in the middle of the trading week. May Brent crude futures soared $0.67, or 1.00%, to $67.34

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Copper Rallies 1% on Bullish Investors, Rebound in Chinese Imports

March 12, 2019

Copper futures are rallying as much as 1% on Tuesday as the industrial metal tries to stay above the $2.90 mark. The copper market is benefiting from investors pouring money into the red metal and Chinese concentrate imports hitting a monthly record. Does it spell a recovery for copper?
May copper futures rose $0.0275, or 0.95%, to $2.9285 per pound at 17:14 GMT on Tuesday on the Comex division of the New York Mercantile Exchange. Copper, which slipped 0.3% last week, is up nearly 11% so far this year.
After months of shorting the industrial metal, the latest data suggests that money managers and hedge funds are bullish on copper. In the week ending March 5, net long holdings increased by 7,488 contracts to 23,126, according to the US Commodity Futures Trading Commission (CFTC). The last

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Gold Faces Pressure on Retail Sales, Hedge Fund Bears

March 11, 2019

Gold futures are trading lower to kick off the trading week as a better-than-expected retail sales report put pressure on the precious metal. Gold prices were also impacted by new US government data that found hedge funds sold their bullion holdings ahead of last week’s disappointing jobs report.
April gold futures tumbled $6.80, or 0.52%, to $1,292.50 per ounce at 16:54 GMT on Monday. The yellow metal posted a tepid weekly gain of 0.3% last week, leaving gold sideways so far this year.
Silver, the sister commodity to gold, is also in the red to start the trading week. May silver futures shed $0.075, or 0.49%, to $15.275 an ounce. The white metal recorded a weekly drop of 1%, lowering its year-to-date decline to about 2%.
According to the Department of Commerce, US retail sales slightly

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