Commodities Update

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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)

Spot gold performance phart
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 1759.4852 week high1921.15
Last trade1760.48
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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