RIYADH: Gold prices rose on Thursday, supported by a pullback in the dollar, while investors awaited guidance on interest rates by the US Federal Reserve from a key central bankers’ meet at Jackson Hole, Wyoming this week.
Spot gold was up 0.3 percent at $1,756.20 per ounce, as of 0414 GMT, while US gold futures gained 0.4 percent to $1,769.20.
Silver up
Spot silver rose 0.4 percent to $19.23 per ounce, while platinum was up 0.5 percent at $880.74.
Palladium climbed 1.2 percent to $2,058.76.
Corn prices rise
US corn futures rose for a seventh straight session on Thursday to trade near a two-month high, supported by concerns that hot and dry weather in the Midwest during key crop development periods could reduce yields.
Soybeans edged higher on concerns over supplies from the United States, although an expected rise in Brazil’s output capped the upside. Wheat rose for a fifth straight session on lower supplies from the Black Sea region amid strong demand.
The Chicago Board of Trade’s most-active corn contract was up 0.65 percent at $6.61-1/2 a bushel, as of 0328 GMT, not far from Wednesday’s peak of $6.71.
Wheat edged up 0.31 percent to $8.15-3/4 a bushel and soybeans rose 0.21 percent to $14.60-1/2 a bushel.
Base metals up
London copper and most industrial metals rose on Thursday, amid hopes that Chinese stimulus measures would revive demand in the world’s biggest consumer and a pullback in the US dollar.
Three-month copper on the London Metal Exchange was up 0.2 percent at $8,051 a ton, as of 0543 GMT, while the most-traded September copper contract on the Shanghai Futures Exchange slipped 0.6 percent to $9,186.73 a ton.
LME aluminum was up 0.1 percent at $2,433 a ton, zinc added 0.8 percent to $3,543, lead was up 1.1 percent at $1,995 and tin rose 0.9 percent to $24,495.
(With input from Reuters)
