Rebound in Gold; Increased Demand for Corn
Gold rises as dollar falls today. Dollar dropped before a Federal Reserve statement on interest rates causing increasing attractiveness of gold as hedge against inflation. December futures for gold delivery went up $1.90 (0.2 percent) to $949.50 per ounce by 11:32 on the New York Mercantile Exchange’s Comex division.
Corn prices rebounded on speculation that its consumption in the U.S. may rise. Livestock feeders, ethanol makers and overseas buyers will consume about 12.88 billion bushels of U.S. corn compared to a July forecast of 12.53 billion bushels. December futures for corn delivery gained $0.02 (0.6 percent) to $3.33 per bushel as of 12:05 on CBoT.
If you have any questions and comments on the commodities today, use the form below to reply.