Thursday, July 21, 2005
Chinese currency revaluation takes copper to record high
Story link: Chinese currency revaluation takes copper to record high
by Brian Turner
by Brian Turner
Revaluation of the renminbi in China took copper prices to a new record high of $3,440 per tonne on the London Metal Exchange before falling back to $3,397 per tonne, a loss of $7 on the day.
China is one of the largest importers and users of copper in the world. Other commodity prices seemed not to be affected by the news of China’s currency revaluation.
Gold was up nearly $2 to $423.90/$424.60 per troy ounce over its closing quote on Wednesday night in New York.
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Latest Metals News:
Gold ends session lower in New York, but gains on week Gold prices retreat after setting new intraday high Gold closes at $1,666 per ounce in New York trade Gold prices at new records on disappointing US data Gold prices lower but comes off session lows on manufacturing data Gold sets new intraday, closing highs to end trading week in New York Copper rises; precious metals prices see declines Gold prices drop on profit-taking, stronger US dollar $1,616.80 per troy ounce: Another record high for gold Gold trades as high as $1,624.30 per ounce in New YorkPrevious: « Copper prices continue up
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