News Summary: Precious Metals Jump On Dollar Slump
MY PRECIOUS: Metals including gold, silver and palladium led gains for commodities as the dollar declined. Gold and silver both advanced to their highest in more than a month as the dollar fell 0.9 percent against a basket of currencies.
PALLADIUM: The biggest beneficiary of the move was palladium. The metal gained $16.30, or 2.5 percent, to $1,617.10 an ounce.
THE BEANS FROM BRAZIL: Coffee was the day's loser, falling 0.3 percent. Expectations of a bumper crop to come in Brazil, the world's largest producer of coffee beans, pushed prices lower.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts