Commodities News

Iron Ore Tumbles on Supply Jump as Goldman, Citi Prove Accurate

Iron ore capped the biggest weekly loss since April as shipments surged and data showed the slowdown in China’s steel industry deepened, vindicating banks from Goldman Sachs Group Inc. to Citigroup Inc. that had forecast declines.

Gold Trades Near Three-Month Low as Fed Outlook Trumps Greece

Gold traded near a three-month low as the outlook for higher U.S. interest rates this year outweighed demand for a haven spurred by Greece’s debt crisis. Palladium declined.

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