Sunday, 24 August 2014
BASE METAL WRAP:
Copper in Shanghai swung between gains and losses near the highest in
almost four weeks after stockpiles fell the most since May and before housing
data in the U.S., the second-biggest consumer of industrial metals.
ENERGY WRAP:
Brent fell for a
second day amid speculation that Middle East crude supplies will remain safe
amid turmoil across the region. West Texas Intermediate was steady after a
technical issue disrupted electronic trading.
PRECIOUS METAL WRAP:
Investors are exiting
the gold market on speculation that signs of sustained U.S. economic growth
will push the Federal Reserve closer to raising interest rates, cutting demand
for bullion as an inflation hedge.
GLOBAL EVENTS TO WATCH:
German
Ifo Business Climate, Flash Services PMI, New Home Sales.
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