August 30, 2013

On Friday, commodities and equities ended the month of August on a weak note as continued uncertainty about the Fed and Syria reportedly weighed on a range of prices heading into the long Labor Day weekend. The DJ-UBS Commodity Futures Index was off around 0.9% today as base metal, energy, and gold prices weakened. In London, LME 3-mo. copper fell as low as $7,081.50/mt (=$3.212/lb.) today as LME 3-mo. aluminum hit an intra-day low of $1,807/mt (=82 cents/lb.). In New York, crude oil and gold futures retreated below $108/bbl and $1,395/to, respectively, while the dollar firmed to 1.3216 vs. the Euro. On Wall Street, traders digested the latest figures on personal income, spending and consumer sentiment as the Dow Industrials, Nasdaq and S&P 500 were all set to finish the day and month in negative territory…

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