Commodities

Gold Declines in Asia as Equity Rally Curbs Safe Haven Investment Appeal Gold declined in Asia as rising equities reduced the metal’s appeal as a safe haven asset after a weaker dollar fueled gains last week. Oil Rises as Dollar's Decline Increases Investment Appeal of Commodities Crude oil rose to the highest in almost four months in New York as the dollar extended its losses against the euro, increasing the investment appeal of commodities. Posco Plans to Extend Production Cuts Into Second Quarter on `Weak' Demand Posco, Asia’s third-biggest steelmaker, plans to extend output reductions made from December into the second quarter amid “weak” demand from automakers and builders. Global Rubber Demand May Slump 9% on Recession, Study Group's Smit Says Global demand for synthetic and natural rubber may decline as much as 9 percent this year, more than double last year’s drop, as the global recession cuts demand for tires, the International Rubber Study Group forecast. BlueScope, OneSteel May Raise Output Cuts on Demand Drop, Deutsche Says BlueScope Steel Ltd. and OneSteel Ltd., Australia’s largest steelmakers, may need to increase production cuts as domestic demand may fall 30 percent this year, Deutsche Bank AG said. Australia's Newcastle Coal Port Blocked for One Day by Climate Protesters Ships have been blocked from entering Australia’s Newcastle port, the world’s biggest coal export harbor, as activists protest against climate change, a community group said.