Soybean closes at 6-year high
Soybean prices rose on Monday, and hit a 6-year high due to concerns over dry weather conditions and strikes in Argentina, in addition to concerns over the new strain of the coronavirus in Britain.
More than 100 shipments of soybean and other agricultural commodities have been suspended in Argentina, as workers continue to strike due to low wages.
Argentina's soybean crops are facing the risks of damage, bad quality and shortages due to the dry weather conditions during this season.
The USDA stated that more than 2.5 million tonnes of soybeans were inspected for export during the week ending on December 17, which is higher by 3.1% from the previous week.
Soybean January futures rose 1.9% and closed at the highest level since the June, 27, 2014 at $12.43 per bushel, after hitting a day high of $12.44 and a low of $12.13.
Sterling falls on concerns over new Covid-19 strain
The British pound fell against the US dollar on Monday, amid anxiety over the new strain of the coronavirus.
The British health authorities identified a new coronavirus strain that spreads more quickly, which forced London to impose tighter lockdown restrictions, and led many countries to suspend flights from the United Kingdom.
This came despite the start of more vaccination campaigns by several countries, including Britain and Canada starting to use the Pfizer-BioNTech vaccine.
The United States authorities stated that it they're closely following the new strain of coronavirus in the UK, especially after the latter stressed that the new strain spreads widely and quickly.
As of 20:23 GMT, GBP/USD fell 0.4% to 1.3471, after hitting a high of 1.3493, and a low of 1.3189.
Silver closes over 1% higher, shrugs off firm dollar
Silver prices rose on Monday, despite the US dollar's rise against most of its peers, as the white metal was lifted by concerns over the new strain of the coronavirus.
The British health authorities identified a new coronavirus strain that spreads more quickly, which forced London to impose tighter lockdown restrictions, and led many countries to suspend flights from the United Kingdom.
The United States authorities stated that it they're closely following the new strain of coronavirus in the UK, especially after the latter stressed that the new strain spreads widely and quickly.
US Treasury Secretary Steven Mnuchin announced earlier this week that the Congressional leaders agreed with White House on a $900 billion second relief package.
The dollar index rose against a basket of major currencies by 0.1% to 90.1 points as of 20:24 GMT, after hitting a high of 91.02 points and a low of 89.9 points.
Silver March futures rose 1.3% or 34.6 cents, and closed at $26.379 an ounce, with today’s high at $26.635, and the low at $25.120.
Gold ends lower on rising dollar with focus on corona crisis
Gold prices fell on Monday, as the US dollar rose against most of its peers amid focus on the latest updates about the coronavirus, especially after a new strain of the virus was identified.
The British health authorities identified a new coronavirus strain that spreads more quickly, which forced London to impose tighter lockdown restrictions, and led many countries to suspend flights from the United Kingdom.
US Treasury Secretary Steven Mnuchin announced the congressional leaders agreed with White House on a $900 billion second relief package.
The dollar index rose against a basket of major currencies by 0.1% to 90.1 points as of 20:00 GMT, after hitting a high of 91.02 points and a low of 89.9 points.
Gold February futures fell 0.3% or $6.10, and closed at $1,882.8 an ounce, with today’s high at $1,912, and the low at $1,852.