Tuesday 17 February 2015

Commodity Market News-18 Feb 2015

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Gold:
Gold and silver fell to six-week lows, while platinum fell to the lowest since 2009, on signs that Greek banks will continue to get emergency funding despite a breakdown in debt talks between their government and euro zone partners.

Silver:
Silver tumbled 5.2 percent to a six-week low of $16.24 an ounce. Talks between Greece and euro zone finance ministers over the country's debt crisis broke down on Monday when Athens rejected a proposal to request a six-month extension of its international bailout package as "unacceptable".

Crude Oil:
Oil closed up after a weak start on Tuesday, with Brent crude rising to a 2015 high of $63 a barrel as short-covering returned to a market depressed earlier by worries about euro zone stability.

Natural Gas:
U.S. natural gas futures fell nearly 2 percent on Tuesday, with traders taking profit from last week's rally as analysts cautioned that cold weather and higher heating demand could be offset by large gas supplies in storage.

Base Metals:
Copper and other base metals fell on Tuesday on concerns about demand in China and following the breakdown in debt talks between Greece and its European partners.

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