Commodities Update
A weekly round up of the latest commodity news in the UK. Updated every Thursday afternoon, the report tracks the price movements of popular commodities such as oil and gold.
Spot Gold Performance Chart (03/02/12 11:00)
| Daily % Chg | 0.06% | 3 months | -1.93% | |
| 1 week | 1.23% | 6 months | 5.81% | |
| 1 month | 9.24% | 1 year | 31.84% |
Details
| Prev close | 1759.48 | 52 week high | 1921.15 | |
| Last trade | 1760.48 | 52 week low | 1325.35 | |
| High | 1763.15 | Low | 1755.18 |
Bloomberg Median Forecasts
| Q1 2012 | 1712.5 | Q3 2012 | 1840.0 | |
| Q2 2012 | 1775.0 | Q4 2012 | 1900.0 |
Commentary
Gold came off a seven-week high on Monday as investors took profit in the precious metal, replenishing liquidity levels ahead of today's important EU summit. EU leaders meet in Brussels today to endorse a €500 billion rescue package and to make the finishing touches to a German-led deficit-control treaty. According to the FT, Germany is pushing for the creation of a commissioner, appointed by euro-member states, to oversee and veto budget decisions by Greece as a condition of a €130 billion bailout for Athens. Anthony Grech, London
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Notes: Chart data sourced from Bloomberg. Bloomberg Median Forecasts are produced by Bloomberg by taking the median level from rates forecast by a number of contributors. These contributors consist of leading banks and security firms.
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