Commodities Update — Gold slightly edges down; Silver falls; Grains lose ground; Copper dips

US gold futures fell 0.3 percent to $1,705.10. (Shutterstock)
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RIYADH: Gold edged lower on Tuesday due to a slightly stronger dollar, but prices were stuck in a tight range as investors refrained from making big bets ahead of key central bank meetings.

Spot gold was down 0.1 percent at $1,707.29 per ounce, as of 0313 GMT. 

US gold futures fell 0.3 percent to $1,705.10.

Silver falls

Spot silver fell 0.3 percent to $18.61 per ounce, while platinum slipped 0.6 percent to $857.40. 

Palladium climbed 1.2 percent to $1,877.89.

Grains lose ground

Chicago corn futures lost ground on Tuesday with prices under pressure after a weekly report showed the condition of the US crop is stabilizing in its key phase of development, easing concerns over global supplies.

Wheat lost ground after a strong rally, although concerns about Black Sea supplies provided a floor under the market.

The most-active corn contract on the Chicago Board of Trade lost 1.2 percent to $6.03-1/4 a bushel, as of 0413 GMT, and soybeans gave up 0.7 percent to $13.70-1/4 a bushel.

Wheat fell 0.5 percent to $8.09 a bushel.

London copper falls on weak demand outlook

London copper prices fell on Tuesday, weighed by a firm dollar and fear of softening demand amid disappointing data from the US.

Three-month copper on the London Metal Exchange fell 1.8 percent to $7,292 a ton by 0144 GMT. 

(With input from Reuters)