Corn futures traded in a narrow range

Corn futures for July delivery traded at 6.5663 USD a bushel, down 0.6% on the day. The July contract traded in a narrow range between 6.5663 USD a bushel, the daily low and a session high of 6.6063 USD a bushel. Corn traders keep monitoring weather conditions across major grain-growing regions in the US due to concerns over US crop prospects. The USDA reported this Monday that 91% of the US corn crop was planted as of June 2, below the five-year average of 95% for this time of year. US grain futures traded lower on Thursday, with the front-month soybean contract drawing back from the...

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Gold futures losses are expected to remain limited

Gold futures traded lower this Thursday. However losses seem likely to remain limited since ongoing concerns over the financial stability of the Eurozone support safe haven demand for the precious metal. On the New York Mercantile Exchange Comex division, gold futures for June declined 0.13% to 1,605.15 USD per troy ounce. Gold futures were expected to test support 1,591.20 USD, Wednesday’s low and resistance at 1,613.46, Monday’s high. Gold prices continued to be supported as Cypriot banks prepared to open for the first time in almost two weeks, with capital controls in place to avert a run...

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Gold prices drop despite German confidence data

On Friday, Gold prices dropped despite confidence German confidence data. Consequently investors opted for the Euro and equities over gold in a risk on trading session. On NY Mercantile Exchange’s Commodity Exchange division, February golf futures dropped 0.72% to 1,657.85 USD. Gold futures futures were expected to test support 1,653.55 USD a troy ounce which is lower than on January 11th and resistance at 1,695.85 USD which is Tuesday’s high. Earlier on Friday, the IFO institute for Economic Research said that the German business confidence’s index improved from 102.4 in November to 104.2...

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