Bloomberg News

Crude Erases Weekly Advance, Copper Rises: Commodities at Close

November 23, 2012

The Standard & Poor’s GSCI gauge of 24 commodities fell 0.2 percent to 644.53 at 6 p.m. Singapore time. The UBS Bloomberg CMCI index of 26 raw materials rose 0.1 percent to 1,572.03.

CRUDE OIL

Crude dropped in New York, erasing a weekly advance, after a truce between Israel and Hamas held for a second day, easing concern that the conflict would disrupt supplies from producers in the Middle East.

OIL PRODUCTS

BASE METALS

Copper gained, poised for a second weekly advance, after signs that China’s economy is rebounding raised expectations that consumption in the world’s largest user will rise next year.

PRECIOUS METALS

Gold headed for a weekly gain in London as a weaker dollar spurred demand for the metal as an alternative investment. Palladium was set for its best week in two months.

GRAINS, OILSEEDS, SOFT COMMODITIES

To contact the reporter on this story: Mike Anderson in Singapore at manderson34@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net


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