Aluminium
Precious, base metals prices fall
by Brian Turner
Gold prices dropped 2.1 percent to $664.60 per troy ounce on Wednesday in volatile trade in Asia. The volatility is expected to continue as long as long positions held by hedge funds and speculative buyers remain numerous. Not even gold’s usual status as a safe haven in times of economic turmoil, such as [...]
Copper, aluminium lower on session
by Brian Turner
Gold prices were affected by Tuesday’s across-the-board declines in global equities markets but managed to recover enough to decline only $2 on the session. The precious metal was trading at $684.80/$685.55 per troy ounce late in the European session.
Base metals prices were mixed. Aluminium traded as high as $2,900 per tonne during the [...]
Nickel adds $400 on session
by Brian Turner
Metals prices were higher on Monday. Gold found its highest price in nine months when it hit $689 per troy ounce during the day, and even though it retreated to trade around $683.20/$683.75 later in the day it still managed to gain more than $1 on the session.
Three-month lead hit a new record high [...]
Base metals prices reach records on week
by Brian Turner
The price for three-month copper was up by nearly $200 on Friday, to $6,325 per tonne, only $10 below its price at the start of the year. It has risen 16 percent since it a 10-month low earlier this month, and added 8 percent over the week.
Other base metals prices were also higher. [...]
Gold declines as base metals prices advance
by Brian Turner
The price of gold was lower Thursday as it traded around $677.00/$677.70 per troy ounce on the spot market at midafternoon in New York. April delivery gold dropped $1 to $683.00 per troy ounce. Some analysts expect that gold will reach $700.00 per troy ounce due to unsettled conditions around the stand-off between [...]
Precious metals prices advance
by Brian Turner
Gold closed at $684 per troy ounce on Wednesday in trade on the New York Mercantile Exchange, a gain of $23 on the day. The gains came after the US Labor Department released new data showing that inflation was up by 0.2 percent in January, while core inflation grew by 0.3 percent. With [...]
Base metals prices mixed on session
by Brian Turner
In metals markets on Tuesday, precious metals prices were lower. Gold followed the price of crude oil, dropping $3 by late afternoon in London to trade around $657.80/$658.14 per troy ounce. Silver and platinum followed gold lower in turn.
Base metals prices were mixed on the day. Three-month tin traded at $13,500 per [...]
Base metals see higher prices this week
by Brian Turner
Most base metals prices saw gains over the week, despite declines on Friday. Tin prices added 8 percent during the week on concerns over Indonesian supplies, going up to a high of $13,300 per tonne at one point. Lead added 11 percent this week after Xstrata stopped production at a UK facility and [...]
Prices on precious metals decline
by Brian Turner
The price of gold fell on Thursday after two sessions of gains, with April contracts on the New York mercantile exchange $2.20 lower just before midday to trade at $669.80 per troy ounce. Silver and platinum were both lower as well, with March silver down 11 cents to $13.855 per troy ounce and April [...]
Nickel price up on tight supplies
by Brian Turner
Metals prices were higher on Wednesday. Among precious metals, gold added $3 by late afternoon in London, trading around $667.55/$668.30 per troy ounce after going as high as $671.85 per troy ounce right after US Federal Reserve chairman Ben Bernanke testified before Congress. Silver, meanwhile, traded around $13.99/$14.03 per troy ounce after reaching [...]
Aluminium prices up on Guinea political troubles
by Brian Turner
In metals markets on Tuesday, gold traded at $668.40 per troy ounce, a seven-month high. The gains in gold prices came as the US dollar was weaker in reaction to a larger than expected trade deficit in December.
Among base metals, tin was lower after hitting a 22-year high on Monday. Continuing worries about [...]
Tin prices reach 22-year high on supply concerns
by Brian Turner
Gold prices were up early in the session on Monday, reaching as high as 668.20 per troy ounce. Prices dropped later in the day, however, and gold traded in the $663.25/$663.90 per troy ounce range. Meanwhile, palladium was trading at around $335 per troy ounce.
In base metals, tin went as high as $12,800 [...]
Precious metals gain value on week
by Brian Turner
Precious metals prices were up this week. Gold added 2.6 percent to $665.10 per troy ounce by late in the session Friday in London. The gains came despite the news that the International Monetary Fund is thinking of selling 400 tonnes of bullion. The plan calls for adjustments in sales by central [...]
Gold prices briefly rise above $660 level
by Brian Turner
In metals markets on Thursday gold topped the $660 per troy ounce level after trying several times during the week and after falling as low as $648.40 per troy ounce earlier in the day. Late in the session, the price fell back slightly, but remained 1.2 percent higher to $659.15 per troy ounce. [...]
Gold prices up 0.2 percent
by Brian Turner
Base metals prices were lower on Wednesday after London Metal Exchange inventories of some metals grew on the session. But even metals with lower stockpiles saw prices drop. Zinc, which saw inventories drop by 825 tonnes in LME warehouses, dropped 1.6 percent to $3,170 per tonne. Tin inventories dropped as well, but [...]
Zinc prices add 4.4 percent on session
by Brian Turner
Prices for base metals were mixed on Tuesday, with most seeing gains. The major exception was aluminium, which, while it did not decline, held even at $2,711.5 per tonne. Nickel was 0.6 percent higher to $35,900 per tonne. Copper added 3.2 percent to $5,510 per tonne after London Metal Exchange inventories dropped [...]
Copper, zinc prices gain on low inventories
by Brian Turner
In the metals markets on Monday gold was trading at $651.90 per troy ounce, helped out by higher crude oil prices. Meanwhile base metals prices were mostly higher. The exception was nickel, which dropped 4.6 percent on the day to $35,695 per tonne after going as high as $38,205 per tonne earlier in [...]
Copper, zinc prices drop substantially
by Brian Turner
Most metals prices were lower on Friday, with the price of both copper and zinc falling significantly on rumors of losses by a hedge fund had lost 20 percent recently that prompted selling.
Copper prices fell more than 4.5 percent Friday to $5,340 per tonne and lost 8 percent during the week. Zinc lost 9 [...]
Prices of precious metals, copper rise
by Brian Turner
Gold added 0.7 percent on Thursday to $657 per troy ounce late in the session in London as the US dollar weakened in the wake of Wednesday’s decision by the Federal Reserve to keep US interest rates at their current level for another month. Gold traded as high as $661.50 per troy ounce earlier [...]