Dear All,
The London Metal Exchange’s plan to ease congestion at warehouses storing near-record amounts of aluminum will accelerate deliveries and reduce premiums paid for supply, at a time when prices are already near a four-year low.
ENERGY WRAP:
West Texas Intermediate crude fell as Gulf of Mexico production resumed after Tropical Storm Karen weakened and the U.S. came closer to breaching its debt ceiling.
PRECIOUS METAL WRAP:
Ben S. Bernanke, the world’s most-powerful central banker, says he doesn’t understand gold prices. If his peers had paid attention, they might have stopped expanding reserves that lost $545 billion in value since bullion peaked in 2011.
GLOBAL EVENTS TO WATCH:
Building Permits m/m.
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