Commodities markets summary

A summary of trading in key commodities markets overseas:


Oil has rebounded, lifted by a government report showing a decline in US crude production and a deadly explosion and fire on an oil platform in the Gulf of Mexico.

The US benchmark, West Texas Intermediate for May delivery, surged $US2.49 to close at $US50.09 a barrel on the New York Mercantile Exchange, snapping a three-day losing streak.

Brent North Sea crude for delivery in May, the global benchmark, settled at $US57.10 a barrel in London trade, an increase of $US1.99 from Tuesday's closing level.


Gold has rallied two per cent as the US dollar retreated after a downbeat jobs report raised expectations that the Federal Reserve could be more cautious in tightening monetary policy.

Spot gold rose 2.2 per cent to a session high of $US1,208.90 an ounce, and was trading up 1.8 per cent at $US1,204.90 at 2:12 pm EDT (0512 Thursday AEDT).

US gold futures for June delivery settled up 2.1 per cent at $US1,208.20.

Silver rose 1.9 per cent to $US16.93 an ounce, while platinum was up 2.0 per cent at $US1,161.60 an ounce and palladium climbed 1.9 per cent to $US746.50 an ounce.

Silver saw the biggest gain among the precious metals in the last quarter, rising 6.0 per cent, while palladium fell 7.6 per cent. Platinum fell just over five per cent.


Nickel has bounced off its lowest level in nearly six years as some investors, betting on price falls, lock in profits, but concerns about Chinese economic growth weigh on other base metals.

Three month nickel on the LME jumped 2.5 per cent to be bid at $US12,705 a tonne in closing open outcry activity, failing to trade. It earlier hit a near six-year low of $US12,310 following a 3.8 per cent drop on Tuesday.

Tin slid to a low of $US16,389 a tonne, the weakest since June 2010, before paring losses and closing down 0.2 per cent at $US16,575.

Copper closed barely changed, up 0.1 per cent at $US6,045 a tonne while aluminium shed 0.5 per cent to end at $US1,777.

Zinc, untraded in closing rings, was bid up 1.1 per cent at $US2,103 a tonne while lead climbed 1.8 per cent to end at $US1,854.

Market Data

  • Currencies
    NamePriceChange% Chg