November 18, 2011 |
Raise cash, head for the sidelines. That was the guiding sentiment in stock and commodity markets Thursday as some investors and traders sold what they could and looked for a hiding place amid fresh doubts about the global economy. Commodities took the heaviest hit: Gold futures dived $54, or 3%, to $1,719.80 an ounce in New York, the biggest one-day drop since Sept. 23. The Thomson Reuters/Jefferies CRB index of 19 commodities slumped 2.5%, the biggest decline since Sept.
March 22, 2005 |
The red-hot market in commodities cooled a bit Monday, sending a key index of prices in the sector to its biggest loss in nine months. But the commodity that matters most to many consumers -- crude oil -- slipped just fractionally from Friday's record high. Tumbling prices for cocoa, soybeans, gold, coffee and other hard assets drove the Reuters-CRB index of 17 commodity futures prices down 5.71 points, or 2%, to 313.49, the steepest one-day drop since June 2.
September 30, 1987 |
Treasury Secretary James A. Baker III today proposed the establishment of a global price index of commodities, including gold, and told world financial leaders it could aid as an early warning signal of inflation. Baker, speaking to the annual meeting of the International Monetary Fund and the World Bank, said that such a "commodity price indicator" could serve as an important "analytical tool" in helping major industrial nations better coordinate their economic policies.
June 29, 1991 |
A key U.S. commodity index fell to a four-year low Friday, signaling an underlying weakness in the market for raw goods that should keep inflation under control, possibly through next year, analysts said. The Commodity Research Bureau Index, which tracks the movement of 21 commodity futures markets, including grains and metals, fell to 206.55, its lowest since March, 1987.
March 5, 1991 |
One of the largest commodity fraud cases in U.S. history ended in federal court Monday, with the founders of International Trading Group Ltd. agreeing to settle with customers and the Commodity Futures Trading Commission. U.S. District Judge Ronald S. W. Lew approved a settlement offered by brothers David C. and Bruce R. Beare, principals of ITG. The deal calls for any remaining assets of ITG to be distributed to customers.
March 19, 1985 |
Foreign currencies gained substantial strength against the U.S. dollar Monday, supporting precious metals and commodities that comprise major export markets, as investors' faith in the dollar was eroded by the troubles of Ohio savings and loans. Gold futures prices posted their biggest single-day gain of the year on the Commodity Exchange in New York, and soybean futures rallied on the Chicago Board of Trade. The Commodity Research Bureau index gained 1.7 points Monday, closing at 240.4.
November 28, 1985 |
Rational people should treat sex just like any other commodity, according to an economist at the National University of Singapore. Euston Quah wrote in the latest issue of the monthly Singapore Business that people should "choose that quantity of sexual experience that will maximize his or her net gains." "There are costs to having sex," he said, "and these costs increase as sexual experiences increase.
July 2, 1986 |
Corn futures prices plunged sharply Tuesday and pulled most other farm commodity prices lower on the Chicago Board of Trade. The July corn contract slumped just short of the 10 cent-a-bushel limit for daily trading and brought prices 25 cents below what they were a week ago. "Basically it's a weakness in the cash market that's undermining the July delivery," said Dale Gustafson, an analyst with Drexel Burnham Lambert.