Freeport McMoRan (NYSE:FCX) Volatile on Competing Market Factors

Freeport McMoRan (NYSE:FCX), as with most commodity producers, has been experiencing some volatility lately as competing market data and events push against the company and commodity sector from opposing sides.

For example, copper prices were moving up based on the drop in value of the U.S. dollar, but at the same time pressured down by the news China imported the lowest amount of copper in a year.

The announced bailout of Ireland helped push up the euro in trading, also resulting in the fall in value of the dollar. All of this is causing commodities to fluctuate and uncertainty to swirl around them because of the different economic and market pressures.

Freeport is a good bellwether to test the commodities market, and today it's telling us things are weak and volatile, suggesting the market remains jittery as China, Ireland and currencies generate concerns.

Freeport was trading at $100.51, falling by $1.29, or 1.27 percent at 1:32 PM EST.

Gold Demand Plunges in Summer Duldroms - Gold Prices Continue to Fall

Gold has just about everything going against it right now, but still remains resilient with prices when taking everything into consideration.

One of course is the historical lack of gold demand in the summer, which usually drives the price of gold down some.

That doesn't explain the overall correction in gold prices though, and that is related to inflation, which for now in the united States, has been pretty much kept under control. At least that's the perception.

What hasn't changed, as evidenced by Moody's (NYSE:MCO) downgrading Ireland's government bonds today, is the safety factor. Mainstream media reports have given the illusion we're still solid economically around the globe, but that's far from true, and with the European Union being the largest economy in the world, it's a good reminder for investors to keep their eye on that region, as the sovereign debt crisis is far from being over there.

As of 2:17 PM EDT, spot gold was at $1,180.80, dropping $11.20. Gold futures for August delivery were almost the same, coming in at $1,180.40 earlier in the trading session.