NYMEX Trading: Crude Oil Post Slight Gains while Gold ends Lower
Crude oil futures slightly gained on Friday after a volatile session on Friday. Analysts attributed rising US dollar as the reason for pressure on commodities. The dollar index DXY which measures the greenback’s performance against its six major rival currencies gained to 79.607 on Friday as compared to 79.099 on Wednesday’s North American trading session.
Crude oil futures contract for January delivery gained 0.6 percent or $0.6 to $96.77 per barrel on the New York Mercantile Exchange. The respective contract declined 0.7 percent in the current week.
Among other commodities, gasoline futures contract for December delivery fell 2.7 percent or $0.07 to $2.45 per gallon. Gasoline was down 1.2 percent for the week. Heating oil for December delivery dropped 1.1 percent or $0.03 to settle at $2.93 per gallon and resulted in a decline of 3.3 percent for the week.
Natural gas futures contract for December delivery gained 2.4 percent or $0.08 to $3.54 per million British thermal units. Natural gas was up 6.6 percent for the current week.
Gold futures also took up some pressure in reaction to rising US dollar and gold for December delivery slipped 0.6 percent or $10.20 to settle at $1,685.70 per ounce at the Comex trading of the New York Mercantile Exchange. The respective contract was down 2.3 percent for the week.
Silver futures for December delivery fell 2.7 percent or $0.87 to $31.01 per ounce with decline of 4.3 percent for the week. Copper for the same month delivery fell 0.3 percent or $0.01 to $3.27 per pound resulting in weekly losses of 3.8 percent.
Platinum futures contract for January delivery declined 1.6 percent or $25.50 to $1.533.10 per ounce while for the week the respective contract fell 3.5 percent. Palladium for December delivery plunged 3.4 percent or $19.75 on Friday to $570.10 per ounce while its fell 5.8 percent for the week.
Twitter •
Most Popular Content
- Gold Flying and Making New All Time Highs
- Gold Prices Slip Ahead of Anticipated Economic Data
- Oil Prices Surge From Lows Amid Mixed Global Signals
- U.S. Stock Indices: A Dance Between Optimism and Fear
- Gold Prices Dance with CPI Data and the Fed
- Oil Prices Surge Amid Record Demand and Supply Tightening
- Gold Steady As US Dollar Index Tries to Make Gains
- Some Respite for Crude Oil within Bear Trend
Currency Articles - May 22, 2019 15:21 - 0 Comments
The Pound is in Freefall – When Will It Stop?
More In Currency Articles
- GBP Gets Ready for an Unpredictable Day with Meaningful Vote 2
- British Pound Stays Strong Whilst The Dollar Remains Weak
Gold and Oil News - Mar 30, 2024 10:37 - 0 Comments
Gold Flying and Making New All Time Highs
More In Gold and Oil News
- Gold Prices Slip Ahead of Anticipated Economic Data
- Oil Prices Surge From Lows Amid Mixed Global Signals