Commodities prices slid on Thursday, \u200bled by silver, part of a \u200dbroad market sell-off as investors reversed an earlier rush for hard assets after global geopolitical tensions eased.<\/p>\n
Silver tumbled as much as 15 per cent and oil prices \u200dfell \u200bmore than US$1 a barrel after the U.S. and Iran agreed to hold talks, and after a positive telephone call between the leaders of the U.S. and China.<\/p>\n
Commodities joined other financial markets such as shares in lurching lower as some of \u2060the speculative heat came out of markets that had been propelled to record peaks.<\/p>\n
\u201cSentiment (has) turned soggy across most asset classes…, with losses feeding into one another and creating a self-reinforcing feedback loop amid thin market liquidity,\u201d said Christopher Wong, a \u200cstrategist at OCBC.<\/p>\n
Adding pressure \u200dto commodities was a stronger dollar, which climbed to a \u200dtwo-week high. <\/p>\n
A firmer dollar index makes commodities priced \u200cin the U.S. currency more expensive for buyers using \u2060other currencies.<\/p>\n
Spot gold retreated from a near one-week high and \u200bspot silver plummeted. Last week, gold climbed to a record US$5,594.82 an ounce and silver to an all-time high of US$121.64. <\/p>\n
\u201cWe saw extreme volatility in precious metals and other commodities this week, and what we are witnessing today are some aftershocks,\u201d said \u200bTony Sycamore, an analyst at broker IG.<\/p>\n
Oil prices fell, but held close to multi-month highs as investors kept a close eye on the progress of Iran talks, worried that a military conflict could disrupt supply from the key Middle East producing region.<\/p>\n
Copper moved further from record highs hit last week on \u2060concern over demand and rising stocks in warehouses registered with the London \u2060Metal Exchange. <\/p>\n
The metal widely used in power and construction had rebounded from a two-session slump, supported \u200cby China\u2019s plan to expand its copper strategic reserves.<\/p>\n
Soybeans bucked the trend, climbing to a two-month high, boosted by comments by President Donald Trump that China is considering buying cargoes from the U.S. <\/p>\n
Iron ore fell 2 per cent, weighed down by high inventories.<\/p>\n","protected":false},"excerpt":{"rendered":"Commodities prices slid on Thursday, \u200bled by silver, part of a \u200dbroad market sell-off as investors reversed an…\n","protected":false},"author":2,"featured_media":455984,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[901,888,902,879,877,903,45,49,48,876,895,896,891,878,875,46,549,295,894,887,914,880,881,893,889,890,884,904,885,909,910,912,907,911,905,908,882,898,899,714,897,906,865,61,900,892,886,883,913],"class_list":{"0":"post-455983","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-alberta","9":"tag-arts-news","10":"tag-bc","11":"tag-breaking-news","12":"tag-breaking-news-video","13":"tag-british-columbia","14":"tag-business","15":"tag-ca","16":"tag-canada","17":"tag-canada-news","18":"tag-canada-sports","19":"tag-canada-sports-news","20":"tag-canada-trafficcanada-weather","21":"tag-canadian-breaking-news","22":"tag-canadian-news","23":"tag-economy","24":"tag-education","25":"tag-environment","26":"tag-federal-government","27":"tag-foreign-news","28":"tag-globe-and-mail","29":"tag-globe-and-mail-breaking-news","30":"tag-globe-and-mail-canada-news","31":"tag-government","32":"tag-life-news","33":"tag-lifestyle","34":"tag-local-news","35":"tag-manitoba","36":"tag-national-news","37":"tag-new-brunswick","38":"tag-newfoundland-and-labrador","39":"tag-northwest-territories","40":"tag-nova-scotia","41":"tag-nunavut","42":"tag-ontario","43":"tag-pei","44":"tag-photos","45":"tag-political-news","46":"tag-political-opinion","47":"tag-politics","48":"tag-politics-news","49":"tag-quebec","50":"tag-sports-news","51":"tag-technology","52":"tag-travel","53":"tag-trudeau","54":"tag-us-news","55":"tag-world-news","56":"tag-yukon"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/455983","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=455983"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/455983\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/455984"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=455983"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=455983"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=455983"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}