Commodities Updates — gold flat, silver edges higher, wheat rebounds

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Gold prices were flat on Monday, as the US dollar and yields firmed after strong jobs data raised the expectation of aggressive rate hikes, offsetting support from safe-haven demand fueled by a worsening Ukraine crisis.

Spot gold was little changed at $1,922.43 per ounce by 0202 GMT. US Gold futures were up 0.2 percent at $1,927.50.

Silver edges higher, copper dips

Spot silver edged 0.1 percent higher to $24.63 per ounce.

Three-month copper on the London Metal Exchange was down 0.6 percent at $10,297 a ton, as of 0233 GMT, after a 0.2 percent drop in the previous session.

Platinum was down 0.1 percent at $984.67 and palladium rose 2.2 percent to $2,326.18.

Wheat rebounds

US wheat futures gained ground in early Asian trading on Monday after two sessions of losses, while soybeans extended losses following the US Department of Agriculture’s forecast of a record US soy acreage.

Corn futures were firmer after closing mixed in the previous session.

Soybean traded on the Chicago Board of Trade slipped 0.1 percent to $15.82 a bushel while corn gained 0.5 percent to $7.38-1/2 a bushel.