Commodity update 85
The Oil price continues its rallye from the last weeks. Dollar weakness increased Gold prices to a new six-week high.
New OPEC meeting in prospect
Oil prices have continued to increase since last week. The US-sort WTI exceeded the mark of USD 50 for the first time since May. Further upswing of the Oil price was due to news, that the OPEC, which previously decided to cap Oil supplies, will organize another meeting.
Dollar weakness increased Gold prices
Continuing Dollar weakness helped Gold to reach a new six-week high. At its high, the precious metal quoted at 1.270 Dollar per troy ounce, the highest mark since mid-June.
Metals
Risen steel- and iron ore prices as well as speculative bets have raised markedly prices of most of the industrial metals over the last couple of weeks. Good news come especially from China.
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