Commodities Rise on Fed Minutes

Commodities experience gains across the board as the minutes from the Feds December meeting are released.

Energy:

WTI and Brent posted modest rises after significant drops in Tuesday’s trading session.  With Brent, the global benchmark, experiencing a rise of 1.69% and WTI Crude a rise of 1.72% at 19:25 GMT.

Natural gas however experienced a drop of -1.68%, falling to 3.270/mmBtu at 19:30 GMT. Being the only commodity to experience significant declines subsequent to the release of the Feds minutes from its December meeting.

Heating oil also posted a modest increase of almost 1% at 19:35 GMT. Standing at 0.90%, or $1.6920/gallon.

Metals:

Gold continued a second day of gains, rising 0.50% at 19:30 GMT, to $1,164.04/ounce, floating on buoyancy provided by the weakened dollar.

Palladium posted the largest gain on the metals, rising 3.90% to $737.26/ounce at 19:30 GMT.

Copper was another significant riser in the wake of the Fed minutes release, experiencing a rise of 2.70%, $2.5562/pound to  at 19:30 GMT.

Silver posted a modest gain of 1.09%, rising to $16.414/ounce at 19:33 GMT, lagging behind many of the other metal commodities.

 

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