Commodities: Gold hits all time high, oil rises
US crude oil futures shrugged off earlier losses on Tuesday to settle close to $80 a barrel after investors warmed to news of Warren Buffett's $44bn investment in US railway operator Burlington Northern Santa Fe.US light crude oil for December delivery advanced $1.47 to settle at $79.60 a barrel on the New York Mercantile Exchange. Earlier in the session the contract hit a low of $76.55.
However demand for oil was kept in check by a stronger dollar ahead of the latest stockpile data by the American Petroleum Institute later Tuesday and the US government Energy Information Administration data due out Wednesday.
Meanwhile among precious metals gold hit a new all time high on Tuesday, despite the stronger dollar after India’s central bank bought 200 metric tonnes, worth $6.7bn, of the yellow metal from the International Monetary Fund.
COMEX gold for December delivery surged $30.90 to settle at $1,084.90 an ounce after hitting an earlier high of $1,087 an ounce.
| Name | Price | 1 Day Change | 1 Day % Change | Units |
|---|---|---|---|---|
| Gold | $1,061.00 | -$1.00 | -0.09% | $/troy oz |
| Silver | $16.35 | -$0.23 | -1.39% | $/troy oz |
| Cattle | 146.23p | 0.000p | 0.00% | p/kg |
| Pigs | 144.07p | 0.000p | 0.00% | p/kg |
| Lamb | 142.60p | 0.000p | 0.00% | p/kg |
| Brent Crude | $77.28 | +$0.41 | +0.53% | $/barrel |
| Krugerrand | $1,117.60 | +$19.30 | +1.76% | $/troy oz |
| Palladium | $318.00 | -$6.00 | -1.85% | $/troy oz |
| Platinum | $1,325.00 | -$5.00 | -0.38% | $/troy oz |
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