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Gold, most other metals prices gain on weaker US dollar
by Elaine Frei
The price of gold was up Friday, to a four-month high, on concerns about debt issues in Europe as the precious metal was seen as a better place to put cash after the US dollar weakened.
May contracts for gold added $11.70 to $1,180.10 per troy ounce in New York, a gain of around 2.3 percent [...]
Gold prices fall in New York
by Elaine Frei
The price of gold was lower in afternoon trade in New York on Thursday as investors looked for a little more risk on the possibility that an aid package to Greece could be more than had been initially expected and after the US Labor Department reported that new jobless claims were down last week in [...]
Gold higher on safety demand
by Elaine Frei
The price of gold was higher in New York Wednesday, adding $9.60 to $1,171.30 per troy ounce as investors looked for safe place to put their money as the future of European economies looked uncertain.
Earlier, New York gold hit its highest level of the year at $1,175 per troy ounce after Standard & Poor’s Ratings [...]
Gold gains in New York; other metals prices lower
by Elaine Frei
Most metals prices fell Tuesday after Standard & Poor’s Rating Services cut Portugal’s credit rating by two levels and warned that further reductions could be coming, while it reduced Greece’s rating to junk status, causing concerns that the debt crisis could spread to other European economies.
The only exception to the declines came as June contracts [...]
Copper, gold rise on US housing data
by Elaine Frei
The price of copper was higher Friday on good news about US new home sales, but other base metals were lower in London trade.
June contracts for copper had added 3 cents to $3.53 per pound in afternoon trade in New York, while three-month copper was up $33 in early afternoon trade in London, to $7,725 [...]
Copper lower on concerns about Greek debt, China demand
by Elaine Frei
The price of copper fell Thursday as the euro lost ground to the US dollar on continuing concerns regarding Greece’s debt crisis after Moody’s Investors service cut its rating on Greece and said it could make further downgrades.
Data released recently also hurt prices as the news that China’s copper imports were up by more than [...]
Copper falls in London, sees gain in New York
by Elaine Frei
Base metals prices were lower in London trade on Wednesday but the price of copper, as well as prices for precious metals saw gains in New York trade during the session.
New concerns over Greece’s debt crisis and an associated drop in the euro versus the dollar that put demand in Europe into question send three-month [...]
Metals prices higher on increased risk appetite
by Elaine Frei
Metals prices were higher Tuesday as investors looked for riskier trades on fewer worries about the charges against Goldman Sachs (NYSE: GS) after the bank said its earnings almost doubled in the first quarter and as other banks also announced positive results.
The trouble for Goldman Sachs also produced fewer concerns as it looked less likely [...]
Goldman Sachs charges continue to hurt copper prices
by Elaine Frei
Metals prices were lower Monday in New York and London as concerns built over civil fraud charges against Goldman Sachs (NYSE: GS) and how they would affect commodities trade, especially if new regulations are put into place to curb risky deals by banks.
Goldman Sachs, a top commodities broker, was slapped with charges in the United [...]
SEC charges against Goldman Sachs hurt copper, gold prices
by Elaine Frei
Most metals prices were lower Friday as investors got rid of risky deals on the news that the US Securities and Exchange Commission has charged Goldman Sachs (NYSE: GS) with civil fraud in connection with some of its mortgage investments and on subsequent declines in equities markets.
Also hurting metals prices was a report that China [...]
Copper, most other metals see price gains
by Elaine Frei
The price of copper was higher Wednesday as the dollar weakened and US Federal Reserve Chairman Ben Bernanke testified before Congress that several issues are holding back economic recovery in the US and that growth will remain only moderate.
Support for copper prices also came on expectations that new data due from China on Thursday will [...]
Copper lower on pessimistic assessment of US economy
by Elaine Frei
The price of copper fell in London and New York Monday after the National Bureau of Economic Research, a private, non-profit US research group based in Cambridge, Massachusetts, said that it was too soon to say that the recession is over in the United States.
May contracts for copper in New York were down 2.5 cents [...]
Most base metals prices fall on London session
by Elaine Frei
Metals prices were mixed Wednesday, with most base metals prices lower while precious metals saw gains.
Copper prices fell as traders and analysts questioned the sustainability of prices around $8,000 per tonne despite some recent data that encouraged hopes for demand growth as questions persisted about the extent and speed of the economic recovery.
May copper was [...]
Copper rises above $8,000 level before falling back in London
by Elaine Frei
Copper prices were higher in London Tuesday but declined in midday trade in New York, while other base and precious metals were mixed.
Three-month contracts for copper on the London Metal Exchange added $105 to $7,990 per tonne after rising to $8,010 per tonne, the first time the price of the metal used in construction and [...]
Good news raises metals prices
by Elaine Frei
Metals prices were higher Thursday on better economic news from around the globe.
May copper added 2 cents to $3.57 per pound in midmorning trade in New York, while three-month contracts for the metal used in manufacturing and construction added $90 in afternoon trade to $7,870 per tonne on the London Metal Exchange after going as [...]