Natural gas futures soar to two week high on US supply data

Natural gas futures soared to a two week high on Thursday, as a report from the US Energy Information Administration showed that natural gas supplies increased less than expected last week. Analysts continued to focus on near-term weather forecasts to estimate the demand for the fuel. On the New York Mercantile Exchange, natural gas futures for September delivery traded at 3.405 USD per million British thermal units during US morning trade, up 1.9%. The September contract resolved 1.75% higher at 3.342 USD per million British thermal units on Wednesday. Gas prices traded at 3.372 USD prior...

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Gold futures traded lower after US GDP report

Gold futures deleted gains and traded lower on Wednesday, as official data showed that the US economy grew more than expected in 2012’s second quarter, soothing concerns over the country’s economic outlook. Investors looked ahead to the Federal Reserve’s policy statement due later in the trading session. On the New York Mercantile Exchange Comex division, gold futures for December delivery traded at 1,323.55 USD a troy ounce during US trading hours, down 0.1%. Comex gold increased 1.1% earlier in the session and hit a session high of 1,339.15 USD a troy ounce. The December contract...

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Natural gas futures traded high after US supply data

Natural gas futures traded high on Thursday, after a report from the US Energy Information Administration which showed that natural gas supplies increased less than traders expected last week. On the New York Mercantile Exchange, natural gas futures for August delivery traded at 3.772 USD per million British thermal units, up 3.9% on the day. Prior to the release of the US Energy Information Administration report the August contract traded at 3.687 USD. The August contract increased by as much as 4.1% earlier in the day and hit a session high of 3.778 USD per million British thermal units,...

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Natural gas futures dropped 16 week low after US supply data

Natural gas futures continued to drop on Thursday, dropping to the lowest level since March after a report from the US Energy Information Administration showed that natural gas supplies increased more than expected last week. On the New York Mercantile Exchange, natural gas futures for August traded at 3.595 USD per million British thermal units during US trading hours, losing 3.8% on the day. Earlier in the session natural gas futures dropped 4.1% and hit a session low of 3.584 USD per million British thermal units. Prior to the release of the US Energy Information Administration report,...

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Copper and Euro rise as Fed, China fears ease

Copper futures traded higher on Thursday, amid expectations the Federal Reserve will sustain its bond purchases for longer and after data showed that profit growth at Chinese industrial companies accelerated in May. On New York Mercantile Exchange’s Comex division, copper futures for September delivery traded at 3.069 USD a pound during European trading hours, up 0.9% on the day. New York traded copper prices increased by as much as 1.1% earlier in the session and hit a daily high of 3.073 USD a pound. The Commerce Department reported on Wednesday that US gross domestic product increased at...

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Gold futures continue to extend losses

On Thursday, after the Federal Reserve announced it may start scaling back its bond buying program by the end of the year, gold futures continued to extend losses and traded at the lowest level since September 2010. On the New York Mercantile Exchange’s Comex division, gold futures for August delivery traded at 1,290.15 USD a troy ounce during European trading hours, down 6.1% on the day. Comex gold prices dropped by as much as 6.3% earlier in the session and hit a daily low of 1,287.25 USD a troy ounce, the lowest level since September 28, 2010. Gold futures were expected to find near-term...

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