Sunday, 6 July 2014
BASE METAL WRAP: Nickel fell from a
six-week high in London amid speculation supply of the metal is ample for now,
easing concern about a potential shortage after Indonesia barred exports of raw
ores in January. London copper began the week little changed; broadly holding on to last
week's 3 percent gains on tighter-than-expected supply.
ENERGY WRAP: Brent traded near the
lowest price in more than three weeks as Libya prepares to increase exports and
amid speculation that Iraq’s crude supplies remain safe from violence. West
Texas Intermediate was steady in New York.
PRECIOUS METAL WRAP: Gold extended a
decline from a three-month high as the outlook for higher borrowing costs in
the U.S. strengthened the dollar. Palladium traded near the highest price since
2001 and silver dropped.
GLOBAL EVENTS TO WATCH: Building Permits m/m, Ivey PMI.
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