This Morning
The Bloomberg Commodity Index was down slightly (-0.08%) this morning as rising gold prices were more than offset by weaker energy prices and mixed industrial metal prices.
- In New York, COMEX gold futures surged as high $1,974.70/to today on gains various attributed to rising inflation concerns, the weaker dollar, and the massive influx of fiscal and monetary stimulus.
- In foreign exchange trading, the US Dollar Index was mixed today with the euro trading around $1.1733 while the greenback was buying 105.08 Japanese yen.
- In London, LME 3-mo. copper and aluminum firmed to around $6,470/mt and $1,727/mt, respectively, late in the session while 3-mo. nickel slipped to around $13,685/mt.
- On Wall Street, the Dow Industrials were down 0.4% in mid-day trading today amid reports of uncertainty surrounding the new fiscal stimulus proposals and coronavirus infection rates.
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