This Morning
The Bloomberg Commodity Index was down around 0.3% in late morning trading as precious metal and copper prices lost ground.
- In New York, COMEX gold futures declined 0.7% to $1,725 per troy ounce while copper futures fell 1.3% to $2.58 per pound. NYMEX crude oil futures started the day in negative territory but subsequently rebounded above $36 per barrel.
- In London, LME 3-mo. copper eased to around $5,736/mt, while 3-mo. aluminum and nickel edged up to $1,584/mt and $12,830/mt, respectively, as of this writing.
- In foreign exchange trading the dollar lost ground against most major trading rivals, with the euro buying $1.128 and the greenback buying 107.25 Japanese yen ahead of this week’s monetary policy statement from the Bank of Japan.
- On Wall Street, stocks started the morning in negative territory on losses attributed to renewed coronavirus concerns, but most of those losses had been reversed by mid-day.
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