RIYADH: Gold prices were flat on Tuesday as the US dollar held firm at a three-week high scaled in the previous session and yields climbed, while investors refrained from making big bets ahead of Russia-Ukraine peace talks starting later in the day.
Spot gold was flat at $1,925.86 per ounce, as of 0218 GMT. US gold futures were down 0.7 percent at $1,926.00.
Wheat, corn futures fall
Chicago wheat and corn futures fell on Tuesday, as worries over surging Covid cases in China weighed on commodities markets.
Soybean edged up after falling in the previous session ahead of a widely watched US planting intentions report later this week.
The most-active corn contract on the Chicago Board of Trade fell 0.33 percent to $7.46 a bushel.
Wheat dropped 0.86 percent to $10.42-1/2 a bushel, while soybeans inched up 0.05 percent to $16.65 a bushel.
London copper eases on China demand worries
London copper slid on Tuesday, with the market giving up last session’s gains, as the pandemic’s surge in China raised worries over demand.
Three-month copper on the London Metal Exchange lost 0.3 percent to $10,315 a ton by 0503 GMT.
Hong Kong trading: IPOs hurt by geopolitics, says bourse CEO
A “fragile” geopolitical environment has slowed trading volumes and initial public offerings on the Hong Kong stock exchange and created challenges for its commodities business, especially nickel, the bourse’s CEO said on Tuesday.
“We’re keenly aware that our commodity business, especially nickel has been facing some challenges after the Russia-Ukraine crisis,” added Aguzin, speaking at an event setting out HKEX’s corporate strategy for the coming years.
HKEX’s London Metals Exchange subsidiary suspended activity and canceled nickel trades earlier this month due to volatility that saw prices double to more than $100,000 a ton within hours. A spate of technical glitches after trading resumed left traders fuming.
(With inputs from Reuters)
Markets Update — Gold flat, wheat and corn slid, Hong Kong trading slows down
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