Saturday , August 17 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 Pulls Back From Six-Year High, Still Poised to Book a Weekly Gain

1 day ago

Gold futures are pulling back from their best levels in six years, though they are still on track to record a weekly gain. Traders were ostensibly taking profits on Friday and diving back into equities, but the consensus is that the yellow metal has plenty of legs in its current bull run amid the lingering US-China trade war and central bank easing.
December gold futures tumbled $7.10, or 0.46%, to $1,524.10 per ounce at 13:49 GMT on Monday on the Comex division of the New York Mercantile Exchange. Gold prices are poised for a weekly jump of 1%, lifting their year-to-date increases to 18.5%.
Silver, the sister commodity to gold, is also trading in the red and will post a stellar weekly boost. September silver futures slipped $0.045, or 0.27%, to $17.17 an ounce. The white metal is set

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Natural Gas Surges 4% on Smaller-Than-Expected Supply Jump

2 days ago

Natural gas futures had one of their best trading sessions in recent months after the US government reported a smaller-than-expected build in domestic inventories. Natural gas has enjoyed the last few trading sessions higher, but the consensus is that prices will eventually dip below the crucial $2 threshold.
October natural gas futures surged $0.10, or 4.58%, to $2.24 per million British thermal units (btu) on Thursday on the New York Mercantile Exchange. Although prices are down 22% year-to-date, natural gas is poised for a strong weekly gain of about 8%. This is a welcome reprieve for the energy commodity that has been drowning in an ocean of red ink throughout 2019.
According to the US Energy Information Administration (EIA), domestic inventories of natural gas climbed by 49 billion

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Wheat Edges Up on Flurry of Industry Activity

3 days ago

Wheat futures finished the Wednesday trading session in positive territory, somewhat rebounding from the downward trend that has plagued the agricultural commodity for much of the year. Wheat prices posted tepid gains on a flurry of industry activity, but investors might be more concerned about President Donald Trump’s recent remarks about US wheat.
September wheat futures tacked on $0.03, or 0.64%, to $4.75 per bushel at 19:42 GMT on Wednesday on the Chicago Board of Trade (CBoT). Wheat prices have slipped more than 3% over the last five trading sessions, driving down their year-to-date losses to more than 5.5%.
Addressing supporters at an event Tuesday at a Pennsylvania factory on Tuesday, President Trump slammed the nation’s trade deficit with Japan. He grieved that car imports are

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Soybean Rebounds 1% After Bearish USDA Crop Report, China Retaliation

4 days ago

Soybean futures are rebounding on Tuesday following a bearish US government report regarding domestic output. Prices are trying to move on from China’s decision to halt US farm imports as part of retaliatory efforts after Washington slapped new tariffs on billions in Chinese goods. But Beijing might reverse course as the White House is considering an olive branch of good faith.
November soybean futures rose $0.0875, or 1.00%, to $8.88 per bushel at 17:41 GMT on Tuesday on the Chicago Board of Trade (CBoT). Soybean prices have been as volatile as the US-China trade war. Year-to-date, the agricultural commodity is down about 1%, but it has advanced 7% in the last three months, though it has tumbled 2% since the middle of July.
According to the US Department of Agriculture (USDA), production

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Gold Jumps As Markets Expect Fed Easing, Prolonged US-China Tensions

5 days ago

Gold futures are trading higher to kick off the trading week, driven by expectations that US-China trade tensions will linger into next year and the Federal Reserve will ease monetary policy even more over the next 18 months. The latest developments in Hong Kong seemed to have had a greater impact on global financial markets than most analysts had anticipated, too.
December gold futures advanced $8.60, or 0.57%, to $1,517.70 per ounce at 17:10 GMT on Monday on the Comex division of the New York Mercantile Exchange. Last week, gold enjoyed a 4% weekly gain and is now up more than 18% on the year.
Silver, the sister commodity to gold, is also enjoying a commendable start to the fresh trading week. September silver futures rose $0.135, or 0.8%, to $17.065 an ounce. The white metal finished

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Gold Finishes Best Week Since June Above $1,500

8 days ago

Gold futures are finishing the trading week above $1,500 for the first time in six years. Despite edging up a fraction of a percent on Friday, the yellow metal enjoyed its best week since the end of June. With central banks worldwide cutting interest rates and no end in sight to the US-China trade conflict, it is likely that gold still has some more room to grow.
December gold futures tacked on $1.00, or 0.07%, to $1,510.50 per ounce at 14:19 GMT on Friday on the Comex division of the New York Mercantile Exchange. Gold recorded a 4% weekly jump, lifting its year-to-date gains to just under 18%.
Silver, the sister commodity to gold, also enjoyed another incredible week. September silver futures added $0.035, or 0.21%, to $16.97 an ounce. The white metal ended the trading week up 4.6%,

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Natural Gas Rallies on Lower-Than-Expected Jump in US Inventories

9 days ago

Natural gas futures are rallying on Thursday after the US government reported a lower-than-expected increase in domestic stockpiles. Natural gas has not had much to celebrate in recent months as the energy commodity has crashed 18% since May. But prices could receive a slight boost over the next several trading sessions as a heatwave is crippling many parts of the country, raising demand levels.
September natural gas futures rose $0.05, or 2.33%, to $2.13 per million British thermal units (btu) at 14:52 GMT on Thursday on the New York Mercantile Exchange. Natural gas is on track for a weekly decline of at least 1%, expanding its negative year-to-date performance to 25.5%.
According to the US Energy Information Administration (EIA), domestic inventories of natural gas climbed 55 billion

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Copper Rebounds From Two-Year Low As Investors Pour Into Metals

10 days ago

Copper is rebounding midweek after the industrial metal slumped to its lowest level in two years. Investors are taking advantage of multi-year lows, lifting copper prices from the red ink of the last couple of months. The red metal also experienced a boost when President Donald Trump urged the US central bank to cut rates three more times, which would offer a short-term stimulus to the world’s largest economy.
September copper futures tacked on $0.03, or 1.1%, to $2.585 per pound at 19:09 GMT on Wednesday on the Comex division of the New York Mercantile Exchange. Copper has had several rough trading sessions, stemming primarily from latest the escalation in the US-China trade strife. The industrial metal is already on track for a weekly decline and it has tumbled more than 2% on the year.

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Gold Extends Gain as US-China Trade Conflict Intensifies

11 days ago

Gold futures are extending their gains on Tuesday as the US-China trade conflict intensifies, though financial markets recovered from the beating they took on Monday. Investors are pouring into the safe-haven asset, unsure what will happen next between the world’s two largest economies. With Washington officially labeling Beijing as a currency manipulator, traders are concerned about not only a trade war, but also a currency battle, too.
October gold futures rose $6.00, or 0.41%, to $1,482.70 per ounce at 19:16 GMT on Tuesday on the Comex division of the New York Mercantile Exchange. The yellow metal will record its third consecutive session gain as it touches its best level in six years. So far in 2019, gold prices are up nearly 16%.
Silver, the sister commodity to gold, is also adding

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Soybeans Rebound Despite US-China Trade Escalation, Benign Weather

12 days ago

Soybean futures are modestly rebounding to start the trading week as the fallout from escalating US-China trade tensions and uneventful weather patterns in the US Midwest region appears to be fading. The new tariffs, as well as the inevitable retaliatory measures going to be imposed by Beijing, have weighed on soybean prices in recent sessions. Will the $16 billion bailouts be enough to recoup their losses?
November soybean futures edged up $0.02, or 0.23%, to $8.705 per bushel at 15:42 GMT on Monday on the Chicago Board of Trade (CBoT). Soybean prices recorded a steep 4% loss last week, erasing their year-to-date gains and bringing them into negative territory by 3%.
It has been a rollercoaster ride for US soybeans over the last several trading sessions.
Hours after President Donald Trump

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Gold Spikes As Safe-Haven Appeal Attracts Investors

15 days ago

Gold futures are soaring to close out the trading week, driven by renewed trade tensions between the world’s two largest economies and monetary easing by the Federal Reserve and other central banks. The yellow metal’s safe-haven appeal is what is attracting investors to precious metals at the start of the new month. Without a US-China trade agreement in sight, traders may pour more into gold.
December gold futures soared $25.00, or 1.85%, to $1,456.80 per ounce at 17:37 GMT on Friday on the Comex division of the New York Mercantile Exchange. The last time gold traded this high was at the end of 2013. Gold prices will finish the week up 2.8%, living year-to-date gains to 13.5%. Over the last 12 months, the precious metal has surged 20%.
Silver, the sister commodity to gold, is also edging

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Natural Gas Slides After Larger-Than-Expected Jump in US Supplies

16 days ago

Natural gas futures are trading lower toward the end of the trading week after the US government reported a larger-than-expected increase in domestic inventories. Amid multi-year lows driven by ample supplies, the market has gone bearish on the energy commodity.
September natural gas futures tumbled $0.02, or 0.90%, to $2.213 per million British thermal units (btu) at 18:11 GMT on Thursday on the New York Mercantile Exchange. Natural gas prices slumped 14% in the second quarter, bringing their year-to-date (YTD) losses to just under 23%.
Prices are now at their lowest levels since February 2016.
According to the US Energy Information Administration (EIA), domestic supplies of natural gas surged by 65 billion cubic feet for the week ending July 26. This is higher than the market forecast

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Oil Edges Up After Fed Rate Cut, Better-Than-Expected Supply Drop

17 days ago

Crude oil futures are trading higher midweek after the US government reported a better-than-expected decline in domestic inventories. Oil prices also received a slight boost on the Federal Reserve cutting interest rates by a quarter-point, which experts say will stimulate the economy and revive demand. Despite a volatile quarter, oil is expected to finish the month in positive territory.
October West Texas Intermediate (WTI) crude futures rose $0.47, or 0.81%, to $58.52 per barrel at 18:36 GMT on Wednesday on the New York Mercantile Exchange. Crude prices, which are already up 4.5% so far this week, have advanced close to 28% year-to-date.
Brent, the international benchmark for oil prices, is also making gains in the middle of the trading week. October Brent crude futures tacked on $0.41,

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Gold Sideways Ahead of Key Federal Reserve Meeting

19 days ago

Gold futures traded sideways to kick off the trading week, but they were able to squeak out a tepid gain. Investors might be we waiting to make a move until the Federal Reserve completes its two-day Federal Open Market Committee (FOMC) meeting. The market widely anticipates the central bank to cut interest rates by at least 25 basis points, which would be positive for metal commodities.
August gold futures edged up $2.20, or 0.16%, to $1,421.50 per ounce at 18:14 GMT on Monday on the Comex division of the New York Mercantile Exchange. Last week, the precious metal posted a slight jump of 0.3%, lifting its year-to-date gains to just under 11%.
Silver, the sister commodity to gold, finished the trading session higher. September silver futures rose $0.04, or 0.25%, to $16.435 an ounce.

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Gold Rebounds As Q2 GDP Slumps, Beats Expectations

22 days ago

Gold futures have rebounded after turning red earlier in the trading session on new data that showed the US economy cooled down in the second quarter. Despite beating market expectations, the tepid slowdown could give the Federal Reserve further ammunition it needs to pull the trigger on a rate cut at next week’s Federal Open Market Committee (FOMC) policy meeting.
August gold futures tacked $6.90, or 0.49%, to $1,421.60 per ounce at 14:00 GMT on Friday on the Comex division of the New York Mercantile Exchange. This comes one day after gold prices recorded their sharpest drop in nearly a month. The yellow metal is on track for a slight weekly decline of about 0.3%, but it is still up more than 10% on the year.
Silver, the sister commodity to gold, is also rallying to finish off the trading

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Natural Gas Rises on Smaller Than Usual Build in US Stockpiles

23 days ago

Natural gas futures are recording modest gains on Thursday after the US government reported a smaller than usual increase in domestic storage levels. But this trend was offset by a recent forecast that suggested the global supply glut will linger into the 2020s. This is bad news for an energy commodity that has shed 23% so far this year.
September natural gas futures tacked on $0.015, or 0.72%, to $2.217 per million British thermal units (btu) at 15:12 GMT on Thursday on the New York Mercantile Exchange. It is on track for a weekly loss of about 3%.
According to the US Energy Information Administration (EIA), domestic supplies of natural gas rose 36 billion cubic feet for the week ending July 19. This is in line with the median estimate of 35 billion cubic feet. In total, US inventories

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Oil Rallies 1% As Weekly Inventories Record Massive Decline

24 days ago

Crude oil futures are rallying more than 1% midweek after the US government reported a massive bigger-than-expected decline in domestic inventories. Investors are also keeping an eye on a Yemeni oil tanker that some experts say could be an “environmental disaster four times worse than Exxon Valdez.”
September West Texas Intermediate (WTI) crude oil futures soared $0.72, or 1.27%, to $57.49 per barrel at 14:46 on Wednesday on the New York Mercantile Exchange. Despite oil prices plunging 13% over the last three months, US crude has surged more than 25% year-to-date.
October Brent crude futures advanced $0.48, or 0.69%, to $64.23 per barrel on London’s ICE Futures exchange. Prices have traded similarly to US crude, but Brent has gained 18.6% so far on the year.
According to the Energy

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Soybean Slips Over Chinese Buying Uncertainty

25 days ago

Soybean futures are trading lower on Tuesday over increasing uncertainty regarding Chinese purchases of the agricultural commodity. Since the world’s two largest economies reached another trade truce last month, it has been a case of contradictory reports and findings of China’s buying trends. The latest developments are no different.
September soybean futures shed $0.055, or 0.61%, to $9.0025 per bushel at 14:43 GMT on Tuesday on the Chicago Board of Trade (CBoT). Despite recovering in the second quarter from a horrid start to 2019, prices have traded relatively sideways over the last month, dipping just 0.2%. Year-to-date, soybean is up 0.8%.
Bloomberg broke the story on Monday that Chinese government officials are in talks with state and private soybean buyers to increase purchases

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Gold Struggles for Direction As Market Anticipates Easing, Physical Demand Weakens

26 days ago

Gold futures are struggling for direction to kick off the trading week as the yellow metal has already taken full advantage of monetary easing by the central banks. Gold’s safe-haven appeal may need to be amplified on lackluster data, weakened physical demand in Asia, and heightened geopolitical pressure. Still, following an impressive 12% gain in the last three months, the precious metal is in a good spot.
August gold futures edged up $0.30, or 0.02%, to $1,427.00 per ounce at 13:33 GMT on Monday on the Comex division of the New York Mercantile Exchange. Last week, gold enjoyed a 1% gain, touching its best level in six years. Year-to-date, prices have risen on the year more than 11%.
Silver, the sister commodity to gold, is having a terrific beginning in the new trading week. September

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Gold Targets Fresh Six-Year High, Poised for Strong Weekly Gain

29 days ago

Gold prices are targeting fresh six-year highs to finish off the trading week, giving the yellow metal a strong weekly gain. Driven by a dovish US central bank, geopolitical tensions, and a potential global sovereign debt crisis, investors are once again pouring into the safe-haven asset after years of avoiding the precious metal. Is gold’s next stop $1,450?
August gold futures surged $13.20, or 0.92%, to $1,441.20 per ounce on the Comex division of the New York Mercantile Exchange at 14:31 GMT on Friday. Gold is poised for a weekly gain of about 1.7%, lifting its year-to-date gains to more than 12%. Over the last 12 months, the yellow metal has soared 17%.
Silver, the sister commodity to gold, is also rallying to close out the trading week. August silver futures rose $0.35, or 2.17%,

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Natural Gas Rises on Lower-Than-Expected Supply Build

July 18, 2019

Natural gas futures are edging higher on Thursday after the US government reported that domestic stockpiles of the energy source rose slightly lower than what the market had initially anticipated. The 1% gain comes amid a flurry of industry news in the US and around the world that could impact supplies and the sector’s future.
August natural gas futures rose $0.025, or 1.12%, to $2.33 per million British thermal units (btu) at 14:45 GMT on Thursday on the New York Mercantile Exchange. Despite a strong performance over the last month, natural gas prices are on track for a steep weekly decline of around 3%. Year-to-date, it is down nearly 20% as the entire energy industry has been cratering as of late.
According to the US Energy Information Administration (EIA), domestic inventories

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Sugar Slumps to 12-Year Low on Global Supply Glut

July 17, 2019

Sugar futures are losing their sweetness as the latest data suggest that the market is drowning in sugar inventories. As several major producers are expected to ramp up output, traders have become more bearish, a trend that was first noticeable after prices peaked at 23 cents at the start of 2017.
October sugar futures tumbled 0.04 cents, or 0.33%, to 11.95 cents per pound at 14:01 GMT on Wednesday on the US ICE Futures exchange. Sugar has had an uneventful year so far, sliding about 5% and not experiencing the slightest of momentum. The agricultural commodity is already on track for a weekly loss of nearly 5%.
The main problem for sugar is supply. There is a global supply glut that is undermining futures contracts and the biggest markets are not slowing down output volumes anytime soon.

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Copper Retreats From Two-Week High As Investors Doubtful Over Chinese Demand

July 16, 2019

Copper futures are hitting the pause button after reaching their best levels in two weeks. Despite Chinese economic figures coming in better than expected, they were not enough to support the idea that there would be enough demand for the industrial metal. Still, copper prices are up more than 2% on the year and traders will take that after kicking off the year down 10%.
October copper futures tumbled $0.01, or 0.35%, to $2.70 per pound at 17:25 GMT on Tuesday on the Comex division of the New York Mercantile Exchange. Copper pared its gains after touching a two-week high.
Chinese economic growth in the second quarter came in at 6.2%, down from 6.4% in the previous quarter. The world’s second-largest economy is now seeing growth at a 27-year low.
But there was a flurry of other pieces

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Soybean Plunges 1% As Heat Wave Could Impact Pollination

July 15, 2019

Soybean futures are sliding as much as 1% to start the trading week as the US endures a heat wave that has expanded into the Plains and Midwest. It does not help that Chinese demand for soybean reserves has slipped to the lowest level in 2019, which comes as Beijing’s imports have weakened this year.
November soybean futures tumbled $0.1225, or 1.32%, to $9.1925 per bushel at 17:08 GMT on Monday on the Chicago Board of Trade (CBoT). Despite a steep decline to kick off the week, soybean has turned positive on the year, advancing nearly 3%. The agricultural commodity had plunged by double-digits, but it has since pared those significant losses.
The latest weather forecasts show that the US will see a change in weather patterns this week. A prolonged heat wave will touch the Plains

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Gold Posts 1% Weekly Gain on Weaker Dollar, Dovish Fed

July 12, 2019

Gold futures are trading higher to finish the trading week, bringing the yellow metal’s weekly gain to more than 1%. The yellow metal’s strong performance this week was driven by a dovish Federal Reserve that will likely cut interest rates later this month, sending the US dollar lower on Friday. Investors are also keeping eye on the sliding consumer interest in physical gold in top Asian markets.
August gold futures soared $10.60, or 0.75%, to $1,417.30 per ounce at 18:49 GMT on Friday on the Comex division of the New York Mercantile Exchange. Gold prices are poised for a weekly surge of 1.2%, raising their 2019 gains to just under 11%, which were mostly generated in the second quarter.
Silver, the sister commodity to gold, is also rallying to end the trading week. September silver futures

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Natural Gas Gains 1% Despite Bearish Supply News, Price Forecast

July 11, 2019

Natural gas futures advanced as high as 1.5% on Thursday after the US government reported a larger-than-expected increase to domestic inventories of the energy supply. This comes soon after the nation’s top energy agency revised its pricing forecast by more than 5% from its previous projections. Can natural gas have a strong second half or will it continue its bearish ways in the final months of 2019?
August natural gas futures rose $0.035, or 1.5%, to $2.48 per million British thermal units (btu) at 14:46 GMT on Thursday on the New York Mercantile Exchange. Natural gas is on track for a weekly gain of nearly 9%, lowering its year-to-date loss to 14%.
According to the US Energy Information Administration (EIA), domestic inventories of natural gas climbed by 81 billion cubic feet

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Copper Surges on Renewed US-China Trade Talks, Capped by Weak Manufacturing

July 10, 2019

Copper futures are rallying midweek as the world’s two largest economies have restarted important trade negotiations. After two months of sitting on the sidelines, both sides have returned to the table to iron out a trade agreement that could finally end the dispute and create some certainty in the global economy. But the industrial metal’s ascent was capped on concerns over weak manufacturing trends in China.
September copper futures rose $0.05, or 1.93%, to $2.675 per pound at 13:34 GMT on Wednesday on the Comex division of the New York Mercantile Exchange. Copper prices have had an interesting year so far. The red metal is up just 1% after it pared most of its gains in the last three months by tumbling 8%.
This week, US and China trade representatives spoke over the telephone as they

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Soybean Falls As Chinese Imports Slip on Weak Feed Demand

July 9, 2019

Soybean futures are sliding on Tuesday after the US government reported that Chinese imports tumbled in the 2018–2019 and 2019–2020 seasons. The obvious culprit would be the ongoing tit-for-tat US-China trade war, but experts say that lower feed demand and rising domestic production are two key factors. Soybean’s losses were capped on a crop condition report that suggested US output was lagging behind markets.
November soybean futures fell $0.03, or 0.33%, to $8.9475 per bushel at 13:57 GMT on Tuesday on the Chicago Board of Trade (CBoT). Soybean prices have pared much of their 2019 losses, thanks to a stellar 4% performance in the last month. On the year, the agricultural commodity is flat after plunging as much as 10% in May.
According to the US Department of Agriculture (USDA)’s Global

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Gold Ticks Higher As Market Forecasts Weaker Growth, Waits for Rate Cut

July 8, 2019

Gold futures are trading higher to kick off the trading week, buoyed by expectations of weaker economic growth and a Federal Reserve that could cut interest rates as early as this month. In the spotlight this week is the head of the central bank delivering his semi-annual testimony to Congress and inflation numbers.
September gold futures rose $1.90, or 0.14%, to $1,402.00 per ounce at 14:29 GMT on Monday on the Comex division of the New York Mercantile Exchange. Last week, gold prices recorded a 1% boost, bringing their year-to-date gains to just under 10%.
Silver, the sister commodity to gold, is rallying to start another week of trading. August silver futures added $0.07, or 0.48%, to $15.07 an ounce. The white metal posted a weekly loss of 0.6%, declining 3% so far on the year.

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Orange Juice Squeaks out Weekly Gain

July 5, 2019

Orange juice futures are trading higher on Friday, squeaking out a weekly gain. The agricultural commodity edged up as foreign markets appear to be offsetting the decline in demand in Europe and the US for the classic breakfast staple. As a result, major producers might need to reduce their output levels to match market trends, though it may not be enough to cut supply levels in the near-term.
September orange juice futures rose 0.45 cents, or 0.44%, to $1.0155 per pound at 18:03 GMT on Friday on the US ICE Futures exchange. Orange juice prices recorded a tepid weekly jump of 0.25%, but they are still down a whopping 20% so far this year. Orange juice has cratered 40% over the last 12 months.
Global supplies have dominated the industry in recent weeks.
In the US, the Department

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