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Gold bounces into positive territory as crude oil recovers

Gold bounces into positive territory as crude oil recovers

A late-day recovery in crude oil enabled gold futures to finish Wednesday with a gain.
February gold settled up $2.30 at $648.20 a troy ounce on the New York Mercantile Exchange. March silver settled up 1.3 cents at $13.273.
"Oil started to come back," said Bill O'Neill, one of the principals with LOGIC Advisors, explaining the recovery in the metals. He added that gold has been attracting solid physical demand in Asia and Europe, especially India.
April platinum settled down $10.10 at $1,173.10 an ounce. March palladium slipped $1.20 to $349.15.
The most-active March copper contract settled up 2.20 cents at $2.6015 per pound
Crude oil futures rose to a two-week high Wednesday, reversing losses amid signs OPEC members are complying more with production cuts and as traders reassessed U.S. government inventory data.
The front-month March light, sweet crude contract settled up 33 cents at $54.37 a barrel, after falling as low as $53.66. The contract traded as high as $55.45 a barrel.
February heating oil settled up 0.76 cent at $1.5839 a gallon. Front-month reformulated gasoline blendstock for oxygen blending, or RBOB, rose 1.43 cents to $1.4616 a gallon.
February natural gas settled down 17.6 cents at $7.421 per million British thermal units.
On the New York Board of Trade, the March Arabica coffee contract closed up 1.30 cents at $1.1695 a pound, with May up 1.30 cents at $1.2015.
Most-active March cocoa lost $16 to settle at $1,599 per metric ton, and May also fell $16 to $1,631.
Futures on raw sugar in foreign ports for March settled down 0.03 cent at 10.76 cents a pound, with May off 0.01 cent at 10.93 cents.
On the Chicago Board of Trade, March corn ended 8.25 cents lower at $4.0075 cents per bushel, and December finished 5 cents lower at $3.9775. March wheat fell 14.25 cents to $4.66 per bushel.
March soybeans ended down 12.25 cents at $7.15 a bushel, the contract's lowest close since Jan. 16. May soybeans closed 11.50 cents lower at $7.3050.


Updated : 2021-07-25 09:08 GMT+08:00