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Gold
4689.29
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97.098
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Real-time News
Mexican President Sinbaum: The trade agreement with the EU will not affect the USMCA.U.S. EIA natural gas inventories for the week ending May 8 were 85 billion cubic feet, in line with expectations and down from 63 billion cubic feet previously.On May 14th, data released by the U.S. government on Thursday showed that U.S. business inventories recorded their largest increase in nearly four years in March, driven by a rise in wholesale inventories. The data showed that business inventories rose 0.9% month-over-month in March, the largest increase since June 2022, exceeding market expectations of 0.8% and following a 0.4% increase in February. Year-over-year, business inventories rose 2.0% in March. The U.S. government estimated last month that business inventories contributed 0.40 percentage points to the annualized GDP growth rate in the first quarter. The U.S. economy grew at an annualized rate of 2.0% in the first quarter, compared to 0.5% in the October-December quarter of last year. Component data showed that retail inventories rose 0.6% in March, after remaining flat in February; wholesale inventories surged 1.3%; and manufacturer inventories rose 0.6%.Futures News, May 14th: ICE raw sugar futures fell on Thursday due to ample supplies from major producer Brazil, while cocoa futures continued their pullback from a three-and-a-half-month high this week. 1. Sugar Market Update: Raw sugar fell 2.5% to 15 cents per pound, reversing a four-day winning streak. White sugar prices fell 2.8% to $442.80 per metric tonne. 2. Brazilian Supply: According to S&P Global Commodity Insights, sugar production in Brazils key south-central region is expected to increase by 72.7% year-on-year. This increase is driven by a surge in sugarcane crushing, and rising oil prices have enhanced the competitiveness of ethanol over gasoline, leading factories to prioritize ethanol production over sugar production at the start of the 2026/27 season as biofuels become more profitable. 3. Indian Exports: To limit sugar losses, India immediately banned sugar exports on Wednesday until September 30, 2026, or for further orders. As the worlds second-largest sugar producer, India is attempting to control domestic prices. 4. Cocoa Update: London cocoa fell 0.6% to 3,256 pounds per tonne, after closing 4.6% on Wednesday. New York cocoa fell 0.7% to $4,446 per tonne. Prices reached a three-and-a-half-month high of 3,549 pounds on Tuesday before retreating as sales in cocoa-producing countries rebounded, with investors continuing to bet on increased demand for chocolate ingredients to limit losses. In addition, a German court ruled that Mondelez (MDLZ.O) misled buyers by reducing the size of its Milka chocolate from 100 grams to 90 grams without significantly altering the packaging.According to the Wall Street Journal, the Indian Ministry of External Affairs stated that the ongoing attacks on merchant ships are "unacceptable."
