Aluminium
Higher factory output in Japan helps copper prices
by Elaine Frei
Copper prices were higher Friday, helped by positive economic data which included a gain of 5.2 percent in Japanese factory output in April over March, consumer confidence that was up in the United States and held steady in the UK, and a 5.8 percent expansion in India’s economy in the first quarter.
On the other hand, [...]
Copper held to small decline by US home sales data
by Elaine Frei
Copper prices were lower in New York Wednesday on gains for the US dollar that hurt demand for the metal, but declines were held to a minimum after the National Association of Realtors said that sales of existing homes in the US were up 2.9 percent in April.
July copper was 2 cents lower to $2.12 [...]
Copper prices up on US consumer confidence levels
by Elaine Frei
The price of copper was up Tuesday on gains in consumer confidence after falling earlier on gains for the US dollar.
The Conference Board’s Consumer Confidence Index was at 54.9 in May, its biggest monthly gain in six years as it was much higher than the 42.3 expected for the month after coming in at just [...]
First-quarter demand for gold up 38%
by Gill Montia
New figures from the World Gold Council show demand for the precious metal rising 38% during the first quarter of 2009, compared to a year earlier.
Total demand leapt to 1,016 tonnes during the period representing a 36% rise in value terms, to $29.7 billion.
Investment demand soared by 248%, to 596 tonnes, but demand for gold [...]
Precious metals see gains
by Elaine Frei
Gold prices rose in New York Tuesday after the US dollar weakened on a report that three major US banks are in the process of applying for permission from the Federal Reserve to pay back money they received from the US government’s Troubled Asset Relief Program.
June gold added $5.30 to $927 per troy ounce in [...]
Copper prices barely higher in London, lower in New York
by Elaine Frei
Copper prices were mixed Friday as worries about demand in China and concerns that recovery from the recession is not as close as had been hoped hurt sentiment even though stockpiles of the metal, used in manufacturing and construction, dropped 12,850 tonnes to 357,800 tonnes in warehouses monitored by the London Metal Exchange during the [...]
Platinum, palladium down on auto industry troubles
by Elaine Frei
Precious metals prices were mixed Thursday, while copper was nearly unchanged in early afternoon trade in New York.
Platinum and palladium were both lower on more troubles for automakers after General Motors’ (NYSE: GM) CEO said in an interview that it will probably declare bankruptcy, while court filings by Chrysler in its bankruptcy proceedings revealed that [...]
Gold gains but silver, platinum prices decline
by Elaine Frei
Gold benefited from its reputation as a safe place to put cash Wednesday after the Commerce Department reported that retail sales in the United States unexpectedly fell by 0.4 percent in April and after the news on sales sent equities markets in the US and Europe lower.
June gold added $2 to $925.90 per troy ounce [...]
Gold, silver gain on dollar weakness
by Elaine Frei
Precious metals prices were higher Tuesday on a weaker US dollar that resulted from expectations that the recession will end soon and that the economy will improve.
Analysts expect that demand for precious metals, especially gold, will improve further as investors worry more about inflation.
June gold was up $10.40 to $923.90 per troy ounce in New [...]
Copper lower; precious metals see gains
by Elaine Frei
On a mixed day for base metals prices, copper prices fell Thursday even though new jobs data in a private report on private sector employment showed that fewer jobs were lost in April than had been anticipated, implying that the economy could be improving.
In addition, declines in some equities markets made investors hesitate as they [...]
Copper prices rise despite higher stockpiles
by Elaine Frei
Base metals prices were higher Wednesday, with copper higher even though inventories in London Metal Exchange warehouses gained for the first time since early last month.
July copper was up 10 cents to $2.19 per pound in New York while three-month copper added $215 to $4,750 per tonne in London despite a gain of 7,225 tonnes [...]
Copper prices fall as other metals see gains
by Elaine Frei
Copper prices were lower Tuesday although inventories were lower in London Metal Exchange warehouses as cancelled warrants, which denote amounts of commodities which are already spoken for, also declined.
LME stockpiles dropped by 3,775 tonnes during the session, but cancelled warrants were down from 83,100 tonnes at the end of last week to 79,450 tonnes this [...]
Platinum prices gain on China hopes
by Elaine Frei
Platinum prices were higher Monday on hopes that demand will grow in China as its economy recovers from recent declines.
Recovery seems a possibility after new data released last week showed that manufacturing activity in China expanded in April for the first time in nine months.
Prices for platinum and other metals were also higher as the [...]
Manufacturing data sends copper prices higher
by Elaine Frei
Copper prices were higher Friday, helped by a report from the Federation of Logistics and Purchasing in China which showed that manufacturing there expanded for a second consecutive month, while a separate report showed that US manufacturing contracted less than had been anticipated in April.
In addition, London Metal Exchange copper inventories fell to 398,700 tonnes [...]