Commodities Updates — gold flat, silver edges higher, wheat rebounds

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Updated 04 April 2022
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Commodities Updates — gold flat, silver edges higher, wheat rebounds

Gold prices were flat on Monday, as the US dollar and yields firmed after strong jobs data raised the expectation of aggressive rate hikes, offsetting support from safe-haven demand fueled by a worsening Ukraine crisis. 

Spot gold was little changed at $1,922.43 per ounce by 0202 GMT. US Gold futures were up 0.2 percent at $1,927.50.

Silver edges higher, copper dips

Spot silver edged 0.1 percent higher to $24.63 per ounce.

Three-month copper on the London Metal Exchange was down 0.6 percent at $10,297 a ton, as of 0233 GMT, after a 0.2 percent drop in the previous session.

Platinum was down 0.1 percent at $984.67 and palladium rose 2.2 percent to $2,326.18.

Wheat rebounds

US wheat futures gained ground in early Asian trading on Monday after two sessions of losses, while soybeans extended losses following the US Department of Agriculture’s forecast of a record US soy acreage.

Corn futures were firmer after closing mixed in the previous session.

Soybean traded on the Chicago Board of Trade slipped 0.1 percent to $15.82 a bushel while corn gained 0.5 percent to $7.38-1/2 a bushel.