Wednesday, December 23, 2009

Market Intelligence - Commodities

During the week ending December 18th, most commodity prices were depressed except for crude (Brent) oil, copper and coffee Arabica. Cocoa beans, which fell by 3.5%, were the worst affected. Gold and silver prices dropped by 1.7% and 1.1%, respectively.

Crude Oil (Brent): The price of crude oil rose to USD 71.46 per barrel from USD 70.14 in the previous week, mainly driven by the cold weather in Europe and Northern America, which also drove gas prices higher.

Gold: The price of gold dropped by a further 1.7% following the 5.6% drop to USD 1,124 per troy ounce in the previous week due to a strong US dollar.