Orange juice futures surge on Fla. crop concerns

Published on NewsOK Modified: December 12, 2012 at 2:56 pm •  Published: December 12, 2012

Gold and other commodities have benefited from previous Fed bond-buying programs because low interest rates pressured the dollar. Commodities are priced in dollars, so a weaker dollar makes them more of a bargain for traders who use other currencies.

Gold for February delivery rose $8.30 to finish at $1,717.90 per ounce and January platinum gained $6.40 to $1,646.40 per ounce.

In March contracts, silver rose 76.5 cents to end at $33.782 an ounce, copper rose 2.95 cents to $3.716 per ounce and palladium gained $4.35 to end at $701.15 per ounce.

Benchmark oil rose 98 cents to finish at $86.77 per barrel, heating oil rose 3.98 cents to $2.9668 per gallon and wholesale gasoline gained 3.6 cents to $2.6465 per gallon. Natural gas fell 3 cents to $3.382 per 1,000 cubic feet.

In agricultural contracts, March wheat fell 9.5 cents to end at $8.12 per bushel, March corn dropped 2.5 cents to $7.255 per bushel and January soybeans rose 1.5 cents to $14.735 per bushel.