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Metals prices rise on weaker US dollar
by Elaine Frei
Copper prices were up Wednesday as the dollar weakened and as investors made purchases ahead of a week of holidays in China after prices fell significantly during last year’s holiday period there.
The gains came even though many analysts are still worried about possible price declines as demand in China drops.
December copper was up 9 cents [...]
Copper prices fall in London
by Elaine Frei
Copper prices were about even in New York and fell slightly in London on Tuesday as demand by China remained weak ahead of holidays there scheduled to last for a week from 1 October and despite a decline in London Metal Exchange inventories on the session.
December copper was essentially unchanged in New York, trading at [...]
Copper gains in London, falls slightly in New York
by Elaine Frei
Copper prices were mixed Monday, falling just a bit in New York but gaining in London even though London Metal Exchange stockpiles of the metal added 3,650 tonnes to 344,350 tonnes, another new multi-month high, during the session.
December copper was down a cent to $2.73 per pound in New York trade, while three-month copper added [...]
Copper prices up as inventories decline
by Elaine Frei
Copper prices managed gains amid mixed messages from US economic reports as inventories monitored by both the London Metals Exchange and the Shanghai Futures Exchange declined.
December copper was 3 cents higher to $2.74 per pound in New York trade while three-month copper added $40 to $5,990 per tonne in London after LME-monitored stockpiles dropped by [...]
US home sales data hurts copper prices
by Elaine Frei
Copper prices fell as low as $5,930 per tonne in London during Thursday’s session, its lowest level in a month, after the National Association of Realtors reported in the United States that sales of existing homes there fell by 2.7 percent in August, an unexpected decline after substantial gains in July.
December copper fell 10 cents [...]
Stronger dollar, China demand worries send copper lower
by Elaine Frei
Prices for copper were lower again Wednesday as investors worried about a drop in demand from China which, according to an analyst could have as much as 1.2 million tonnes, or 80 days’ consumption of the metal, on hand at present.
A gain of 175 tonnes in London Metal Exchange-monitored inventories of copper during the session [...]
Copper prices rise despite plentiful supplies
by Elaine Frei
Copper prices were up in New York and London Tuesday as the US dollar weakened.
December copper added 6 cents to $2.86 per pound in New York trade while three-month copper was up $80 to $6,270 per tonne in London.
Despite the gains, there were still worries surrounding the high level of inventories in warehouses monitored by [...]
Gold weakens on dollar strength
by Elaine Frei
Precious metals prices were lower Monday as gold prices fell on a stronger dollar and after crude oil prices dropped significantly.
December gold was $5.40 lower to $1,004.90 per troy ounce in New York trade after going as low as $996.30 per troy ounce and as high as $1,008.30 per troy ounce earlier in the session.
Among [...]
Gold prices decline on stronger USD
by Elaine Frei
The price for December contracts for gold in New York dropped $6.70 Thursday to $1,013.50 per troy ounce.
The declines came after prices went as high as $1,025.80 per troy ounce earlier as the US dollar gained strength.
Silver and platinum both gained early in the session as well, but by the close of the floor session [...]
Gold gains on weak dollar, inflation concerns
by Elaine Frei
Gold prices soared Wednesday as the US dollar weakened and on demand as investors look to protect their money after recent economic data has implied that inflation could increase soon.
The US consumer price index was up 0.4 percent in August, according to the Labor Department, while industrial production was up in the US and producer [...]
Copper prices gain on US retail sales data
by Elaine Frei
Copper prices were up Tuesday, helped by new data from the US showing that retail sales there were up 2.7 percent in August from July’s levels, more of a gain than had been anticipated.
The higher sales were seen as an indication that the economy is rebounding, bringing hopes that demand for copper and other metals [...]
Copper prices fall in New York, London
by Elaine Frei
The price of copper declined Monday as London Metal Exchange stockpiles grew again on the session and analysts remained worried about what that growth means for future growth of demand for the metal used in manufacturing and construction.
December copper was down 4 cents to $2.80 per pound in New York trade while three-month copper was [...]
Copper prices drop again; precious metals gain
by Elaine Frei
Copper prices were lower again Friday as inventories continued to rise in warehouses monitored in London, Shanghai, and New York and as buying by China dropped 20 percent in August from July, according to the customs office in Beijing.
London Metal Exchange inventories were up 0.2 percent on the day while Shanghai-monitored stockpiles were up 12 [...]
Inventory gains hurt copper prices
by Elaine Frei
Copper prices fell Thursday after inventories watched by the London Metal Exchange were up to 317,575 tonnes during the session, bringing gains in just less than two months to 24 percent, while stockpiles monitored by the Shanghai Futures Exchange were also higher.
Shanghai inventories have gained in each of the past six weeks.
Prices for the metal [...]
Demand, price worries send copper prices lower
by Elaine Frei
The price of copper fell Wednesday as new concerns were raised about short-term demand and prices that might be higher than they should be based on fundamental considerations.
Prices also fell after London Metal Exchange inventories of the metal used in manufacturing and construction added 1,250 tonnes to 316,800 tonnes to the highest level in four [...]
Copper prices up on demand, optimism
by Elaine Frei
Copper prices were higher Tuesday on higher demand after the US dollar weakened and demand jumped, and after Goldman Sachs predicted that three-month contracts for copper will sell for more next year than previously estimated.
Goldman Sachs said that in light of indications that the economy is recovering, copper will sell for around $7,650 per tonne [...]