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Silver Market Update

Friday, 13 March 2015


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May silver SIK5, +0.38% settled at $15.516 an ounce, up 15 cents, or 1%.

May copper HGK5, +0.28%  rose 5.3 cents, or 2%, to end at $2.659 a pound.

April platinum PLJ5, +0.39%  shed 50 cents to $1,114.90 an ounce, 

June palladium PAM5, +1.21% fell back by $2.45, or 0.3%, to $786.95 an ounce.


Oil settles at a six-week low near $47 a barrel


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Oil futures settled near $47 a barrel on Thursday, with West Texas Intermediate prices marking their lowest settlement since late January following a ninth straight weekly increase in U.S. supplies.

Crude for delivery in April CLJ5, +0.17%  settled at $47.05 a barrel, down $1.12, or 2.3%, on the New York Mercantile Exchange. Prices haven’t settled this low since Jan. 29, based on the most-active contracts.

April Brent crude LCOJ5, +0.30%  on London’s ICE Futures exchange fell 46 cents, or 0.8%, to $57.08 a barrel after finding support earlier from ongoing violence by Islamic State militants in Iraq.

Why copper can’t reclaim its role as leading indicator


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Copper started losing its Ph.D. in U.S. economics and equities two years ago.

But the metal has lost more of its expertise over the last two years. Futures prices for copper HGK5, +0.60%  dropped of 17% in 2014 and lost 7% in 2013. 


Gold futures log first gain in three sessions


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Gold futures on Thursday scored their first gain in three sessions, with a pullback in the U.S. dollar prompting a modest rebound from gold’s lowest level in about four months.

Gold for April delivery GCJ5, +0.52% added $1.30, or 0.1%, to settle at $1,151.90 an ounce on Comex after tallying a loss of 1.4% over the past two trading sessions. Prices Wednesday closed at their lowest since early November.


Current Market Update


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Here are the latest trading levels for Asia's major stock markets: 

Tokyo (Nikkei Average NIK, +1.43% ) up 1.6% 

 Hong Kong (Hang Seng Index HSI, +0.29% ) up 0.3% 

 Shanghai (Shanghai Composite Index SHCOMP, +0.42% ) up 0.4% (at break) 

 Sydney (S&P/ASX 200 XJO, -0.73% ) down 0.8% 

 Seoul (Kospi SEU, +1.02% ) up 1% 

 Mumbai (Sensex 1, +0.29% ) up 0.5% 

 Taipei (Taiex Y9999, +0.11% ) up 0.2%

 

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