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At 06:00 SAST today, Brent crude oil fell 0.3% to trade at $114.56/bl, amid demand concerns following downbeat Chinese manufacturing data and ahead of Iranian talks with the US, Russia, China, Britain, France and Germany, starting tomorrow in Almaty, Kazakhstan, about the nation’s nuclear programme. On Friday, Brent crude oil rose 0.4% to settle at $114.96/bl.
On Friday, corn spot prices fell 0.4% to $6.98/bushel. The US Department of Agriculture indicated that stockpiles before next year’s harvest may rise to 2.177bn bushels from a 17-year low of 632.00mn bushels estimated this year.
At 06:00 SAST today, gold prices advanced 0.2% to trade at $1,583.93/oz. On Friday, gold gained 0.3% to close at $1,581.40/oz, as the recent drop in gold prices lured investors to buy the yellow metal.
On Friday, copper declined 0.8% to close at $7,773.25/mt. Aluminium closed 1.5% lower at $2,004.75/mt. Base metal prices dropped amid concerns about the European economy, following UK’s credit rating downgrade and after the EU forecast a contraction in the eurozone economy.
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