Commodities: Oil rises, gold hits new high
US crude oil futures powered ahead on Monday, after Friday’s 3% drop, as the broadly weaker dollar and fears about damage caused by Tropical Storm Ida had oil traders moving back in.Oil for December delivery rose $2 to settle at $79.43 a barrel in New York on Monday after traders threw in the towel on Friday following the disappointing US jobs data.
Monday’s advance came after the weekend’s G-20 meeting in which officials offered no support for the dollar while a surge among US equities, with the Dow hitting a new high for 2009 also helped.
Meanwhile traders will also be keeping focus on Tropical Storm Ida, which is expected to hit US shores Tuesday morning.
Among precious metals gold bounced to another record high on Monday, buoyed by the weaker dollar. COMEX gold for December delivery rose to a session high of $1,109.90 before easing off and settling up $5.70 at $1,101.40 per ounce.
| Name | Price | 1 Day Change | 1 Day % Change | Units |
|---|---|---|---|---|
| Gold | $1,106.75 | +$10.00 | +0.91% | $/troy oz |
| Silver | $17.68 | +$0.16 | +0.88% | $/troy oz |
| Cattle | 146.46p | 0.000p | 0.00% | p/kg |
| Pigs | 142.72p | 0.000p | 0.00% | p/kg |
| Lamb | 150.14p | 0.000p | 0.00% | p/kg |
| Brent Crude | $78.07 | +$2.46 | +3.25% | $/barrel |
| Krugerrand | $1,146.10 | +$14.20 | +1.25% | $/troy oz |
| Palladium | $333.00 | +$3.00 | +0.91% | $/troy oz |
| Platinum | $1,355.00 | +$8.00 | +0.59% | $/troy oz |
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