Monday, 28 July 2014
BASE METAL WRAP:
Copper dropped
for a second day after Freeport-McMoRan Inc. received approval from Indonesia
to resume exports from its Grasberg mine.
ENERGY WRAP:
West Texas
Intermediate crude fell for the fourth time in five days amid speculation that
economic data may signal slowing growth in the U.S., the world’s biggest oil
consumer. Brent also dropped in London.
PRECIOUS METAL WRAP:
Hedge funds increased
their bets on a gold rally, just before prices fell for a second week as an
accelerating U.S. economy outweighed concern that violence between Russia and
Ukraine will escalate.
GLOBAL EVENTS TO WATCH:
Flash Services PMI,
Pending Home Sales m/m.
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