Gold eased further from a two-month high on Monday on
stronger equities and sluggish physical appetite, even as safe-haven demand
from escalating violence in Iraq kept the metal above USD 1,300 an ounce. Spot
gold had eased 0.2 percent to USD 1,311.70 an ounce by 0158 GMT. The metal,
which posted its best week in three months on Friday, rose to a two-month high
of USD 1,321.90 in the previous session, although it closed down 0.5 percent.
Crude oil prices gained in early trade Monday in Asia as
events in Iraq show continued battles between Sunni militants and govern met
forces in cities close to the capital Baghdad. Crude oil for delivery in August
traded at $107.15 a barrel, up 0.29%, after closing trade last week at $106.83,
up 0.74%..
U.S. natural gas futures fell to a more than one-week low on
Friday, as weather forecasts calling for a break in a heat wave pushed down
prices. Natural gas for delivery in July hit a session low of $4.516 per
million British thermal units, the weakest level since June 11, before settling
at $4.531 by close of trade, down 1.16%, or 5.3 cents. Nymex natural gas prices
lost 4.38%, or 20.8 cents on the week, the first weekly decline in four weeks.
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