Gold hits $1,817.90/oz, a high since Feb. 16 Silver jumps as much as 3.6% (Adds comment, updates prices)
May 6 (Reuters) - Gold jumped over 1% on Thursday with a weaker dollar and easing Treasury yields propelling it over the key $1,800 psychological level.
Spot gold rose 1.6% to $1,814.50 per ounce by 2:00 p.m. EDT (1800 GMT). During the session it hit $1,817.90, its highest since Feb. 16. U.S. gold futures settled 1.8% higher at $1,815.7.
“We really have yet to see a strong rebound in Treasury yields,” said Edward Moya, senior market analyst at OANDA.
Despite the economic optimism, Federal Reserve policymakers seem unlikely to budge on their accommodative stance yet and investor inflation fears should boost gold, Moya added.
London Copper returned above $10,000/mt on the back of a weak dollar and with China returning to work after a three-day national holiday, with the London Metal Exchange three-month spot copper price trading at $10,117.50/mt ($4.59/lb) at 1749 GMT, some $72.50/mt short of its all-time high of $10,190/mt from February 2011.
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Scotiabank analysts said LME three-month copper hit $10,028.50/mt during early May 6 trading, with the red metal dropping to $9,993/mt at 9:00 GMT, before U-turning and climbing above $10,000/mt. Copper rose through $10,000/mt for the first time in 10 years on April 29.
May 4, 2021 05:51 GMTCrypto News
CME’s newest derivatives product would allow a broader range of investors to participate in the cryptocurrency market.
Micro Bitcoin futures recently launched by the exchange giant would be a more cost-effective method for traders to fine-tune their BTC exposure.
The growing demand and the surging price of the leading cryptocurrency were cited as the main drivers for introducing this new product.
The Chicago Mercantile Exchange (CME) has launched a new futures product as demand continues to grow in the cryptocurrency space.
Fueling crypto adoption by lowering the barrier to entry
The new micro Bitcoin futures contract by CME will be one-tenth the size of a Bitcoin, providing a more cost-effective entry for market participants. The new cryptocurrency derivatives product could open the door to wider mainstream adoption of the new asset class.
(Updates with official prices)
LONDON, April 27 (Reuters) - Copper prices climbed on Tuesday towards the record above $10,000 a tonne seen a decade ago as worries about supply disruptions in Chile due to strikes and robust demand reinforced expectations of shortages this year.
Benchmark copper on the London Metal Exchange traded up 1.5% at $9,894 a tonne in official rings, a gain of 27% this year. Prices of the metal used in power and construction earlier touched $9,965, close to the all-time high of $10,190 hit in February 2011.
“Chilean port workers called a strike over pension-related issues. They are being supported by the mining unions. There is no indication of supply disruptions, but copper prices have rallied,” said Julius Baer analyst Carsten Menke.