Gold falls as investors await U.S. earnings data

Gold prices dropped in Asian trading on Wednesday as investors sold on fears of global uncertainity and speculation that U.S. corporate earnings could be weak. Both factors could decrease the probability of global inflation, which would hurt gold prices. The precious metal is traditionally viewed as an inflation hedge.

Crude oil rallies as Chavez’s political future in doubt

Crude oil futures rallied during Asia’s Wednesday session, after reports indicated that Venezuelan President Hugo Chavez would miss his inaugeration. Chavez remains in Cuba due to a medical complication.

 

Natural gas prices fall as weather services point to warming temps

Natural gas futures fell on Tuesday after once conflicting weather services came into agreement that temperatures are due remain warmer across much of the United States.

On the New York Mercantile Exchange, natural gas futures for delivery in February traded at USD3.209 per million British thermal units, down 1.73%.

The commodity hit a session low of USD3.203 and a high of USD3.280 in a session dominated by weather reports.

A National Weather Service six-to-10-day forecast issued on Sunday called for below or much-below-normal readings, while weather service provider WSI echoed those calls by predicting temperatures to fall below normal in the western half of the U.S. from January 13 through January 17.