Aluminium
US pending home sales data helps copper prices
by Elaine Frei
The price of copper was up Thursday after the National Association of Realtors reported that pending home sales were unexpectedly higher in July, adding 5.2 percent to give a boost to the metal that is used extensively in construction.
December contracts for copper added 3 cents to $3.50 per pound in New York trade, while three-month [...]
Positive data chases gold prices lower
by Elaine Frei
Precious metals prices were mixed in New York trade Wednesday as platinum and palladium gained but gold and silver both declined after both the United States and China reported data showing that manufacturing activity in the two nations expanded last month.
In the United States, the Institute for Supply Management said that its manufacturing index was [...]
Gold gains on search for safetey ahead of economic data
by Elaine Frei
Precious metals prices were mixed Monday as gold advanced but silver held steady and platinum and palladium both declined.
December gold added $1.30 to $1,239.20 per troy ounce on bargain hunting and as investors looked for safe places to put their cash ahead of new data due later in the week, including new figures on US [...]
Gold gains as US dollar weakens
by Elaine Frei
The price of gold was higher Friday on the possibility that the US dollar will weaken more, after it lost value on comments from Federal Reserve Chairman Ben Bernanke at a meeting of central bankers from around the globe being held this weekend in Jackson Hole, Wyoming.
Mr. Bernanke said that the government will do whatever [...]
Gold prices fall on US jobs news
by Elaine Frei
The price of gold fell Thursday as more investors looked for riskier investments after better news than expected on US jobless claims and as others had to sell gold after midday to cover losses as New York equities markets turned from gains to losses.
December gold was down $3.60 to $1,237.70 per troy ounce in New [...]
US durable goods orders, new home sales drive metals price moves
by Elaine Frei
New economic data from the US sent precious metals prices higher and base metals prices lower Wednesday as investors worried that the global economy is slowing down and looked for safe places to put their cash.
December gold added $7.90 to $1,241.30 per troy ounce in New York trade as US durable goods orders were up [...]
Gold gains, copper drops on US home sales data
by Elaine Frei
Precious metals prices were higher Tuesday, but copper and other base metals were lower after US home sales data disappointed.
December gold was up $4.90 to $1,233.40 per troy ounce as equities markets dropped and investors looked for safe places to put their cash after the National Association of Realtors reported that July existing home sales [...]
Copper prices fall on economic, demand concerns
by Elaine Frei
Copper prices dropped again Friday on concerns that recent data indicates that recover from the recession is faltering, which in turn raised fears that demand for the metal will decline, while a stronger US dollar also hurt prices because it made copper more expensive for purchasers using other currencies.
September copper was down 3 cents to [...]
US unemployment numbers hurt copper prices
by Elaine Frei
Copper prices fell Thursday, hurt by the US Labor Department’s weekly report on unemployment claims and a regional report that showed a drop in manufacturing activity.
The Labor Department reported that new unemployment claims were up by 12,000 last week to 500,000, against an expected decline of 10,000 to 478,000, to their highest level in nine [...]
Copper prices gain on more inventory declines
by Elaine Frei
Metals prices were mixed Wednesday as copper and gold saw gains, but most other metals prices declined in New York and London trade.
September copper added 1 cent to $3.35 per pound in New York trade, while three-month contracts for the metal used in construction and manufacturing was up $8 to $7,390 per tonne on the [...]
Gold prices rise as USD weakens
by Elaine Frei
The price of gold was up again Tuesday as the US dollar weakened and investors expected more interest from physical buyers of gold for jewelry as India‘s festival season approached, while prices for platinum and palladium were higher on a report that US industrial production expanded more than expected in July.
December gold added $2.10 to [...]
Gold gains on disappointing data
by Elaine Frei
The price of gold rose to its highest close in New York since late June as the US dollar weakened and disappointing data brought out risk-averse buyers who wanted a safe place to put their cash.
December gold added $9.60 to $1,226.20 per troy ounce in New York markets.
Among the disappointing data was the New York [...]
Gold prices rise to six-week high in New York trade
by Elaine Frei
Prices for December contracts for gold were up in New York trade Thursday, ending at a six-week high after demand as a safe investment on expanding fears that the economy is not recovering after recent reports of declining industrial output in China and Europe.
Adding to the concerns was today’s report from the US Labor Department [...]
Gold edges higher as investors seek safety
by Elaine Frei
The price of gold was a bit higher Wednesday, but it was not able to rise above the $1,200 per troy ounce level.
December gold added $1,20 to $1,199.20 per troy ounce in New York as the US dollar strengthened but new data caused investors to seek safe places to put their cash after the Commerce [...]
New York gold down, then gains after hours following Fed decision
by Elaine Frei
December contracts for gold were lower during the floor trade session in New York on Tuesday, but prices were higher in electronic trade after the close, after the US Federal Reserve left interest rates at record-low levels and said it will use funds from maturing mortgage-backed securities it has invested in to buy government debt [...]
Copper prices advance on China demand hopes
by Elaine Frei
The price of copper was a bit higher Monday, on comments which indicated that demand in China will continue and on hopes that the US Federal Reserve will do more to help the US economy after last week’s disappointing jobs report.
A Chinese government economist said that his nation’s economy will be strong in the second [...]
Copper prices hurt by US jobs figures
by Elaine Frei
Copper prices were down Friday as investors reacted to a new report from the US Labor Department which showed that the US economy lost 131,000 jobs in July, more than expected, as some temporary census jobs ended.
Along with the loss of jobs overall, the private sector added just 71,000 jobs, well short of the 100,000 [...]
Copper prices hurt by demand worries, US jobs data
by Elaine Frei
The price of copper dropped in London and New York Thursday on accelerating concerns about demand in China and after first-time jobless claims rose in the United States last week.
Worries that demand could retreat in China came after the government there said it will introduce more stringent rules on mortgage lending to prevent third-home purchases [...]
Gold fails to sustain gain to above $1,200 per troy ounce
by Elaine Frei
The price of gold went above $1,200 per troy ounce for a time Wednesday, but could not sustain trade at that price and ended the session in New York up $8.40 from Tuesday’s close to trade at 1,195.90 per troy ounce after peaking at $1,205.50 per troy ounce during the session.
Gold’s prices were helped by [...]
Gold gains but remains under $1,190 per troy ounce
by Elaine Frei
The price of gold was up for the fifth trading day in a row Tuesday after hitting a three-month low last week.
December gold was up $2.10 to $1,187.50 per troy ounce in New York an a weaker US dollar, and on new data from the US Commerce Department on personal income, spending and savings.
The new [...]