Aluminium
Gold declines as investors seek more risk
by Elaine Frei
Most metals prices were higher Thursday, but the price of gold fell as investors sought out riskier investments as they gained confidence on advances in global equities markets and on the insistence of China that it will not sell its holdings of Eurozone government bonds. August gold, currently the most active contracts, were down $2.10 [...]
Gold gains as other metals prices decline
by Elaine Frei
Gold prices were higher Tuesday, but other metals prices fell as investors looked for a safe place to put their cash and even gold’s gains were limited as the US dollar strengthened. Investors were nervous over declines in global equities markets, which fell amid continuing concerns about Europe’s debt crisis after Spain’s central bank took [...]
Copper prices up on US housing data, miner optimism
by Elaine Frei
Metals prices were higher on Monday, with copper up after the National Association of Realtors reported that existing home sales in the United States were up by 7.6 percent in April, more of a gain than had been anticipated. July copper was up 7 cents to $3.13 per pound in afternoon trade in New York, [...]
Platinum, palladium in big declines on demand concerns
by Elaine Frei
Metals prices were lower again Thursday, with platinum and palladium falling especially hard on concerns that demand from China will slow down. May platinum was $109.90 lower to $1,493.80 per troy ounce while July contracts were down $109.70 to $1,497 per troy ounce in New York trade, while June palladium dropped $51.25 to $408.45 per [...]
Metals fall on European debt concerns
by Elaine Frei
Metals prices fell Wednesday, with platinum and palladium taking especially deep plunges, on investor concern that debt problems in Europe will not be controlled soon, and after Germany moved to ban naked short-trades of shares for 10 banks and insurers and to stop naked credit-default swaps of government bonds from European nations. The moves by [...]
Gold ends lower in New York
by Elaine Frei
June contracts for gold in New York were down $13.50 to $1,214.60 per troy ounce in Tuesday’s trade, after going as low as $1,206.60 per troy ounce and as high as $1,229 earlier in a volatile session. Most buying of gold was for investment purposes rather than physical purchases by jewelers as prices remained high. [...]
Europe, China concerns send copper prices lower
by Elaine Frei
Copper prices fell Friday as the euro weakened versus the US dollar, continuing concerns about debt in Europe spurred questions about the effect it will have on demand for metals, and on the possibility that China could see another round of tightening of monetary policy soon in an attempt to slow inflation. Investors ignored positive [...]
Copper gains as precious metals see declines
by Elaine Frei
Metals prices were mixed Thursday as base metals saw gains but precious metals fell. Three-month copper added 1.9 percent to $7,160 per tonne on the London Metal Exchange after Spain and Portugal both announced budget cuts in an attempt to reduce debt and as some analysts said that copper demand will continue in China despite [...]
Gold prices hit new record
by Elaine Frei
Gold prices soared again Wednesday as investors worried that the European Union’s rescue package for Greece will not be sufficient to keep the debt crisis there from spreading to other European economies, while new that the US trade deficit grew in March also helped gold to gains. May gold was up $24.70 to $1,244.60 per [...]
Gold prices rise on bailout concerns
by Elaine Frei
The price of gold was up significantly Tuesday on uncertainties about how successful the bailout package for Greece, agreed to by the European Union, would actually be and what effect the program might have on the value of the euro. May contracts for gold were up $19.50 to $1,219.90 per troy ounce in New York [...]
Gold drops, other metals see gains on bailout for Greece
by Elaine Frei
Most metals prices were higher Monday after the European Union reached agreement on a plan to rescue Greece from its debt woes, but gold declined as demand for a safe place to put cash diminished on the prospect of recovery for the Greek economy. However, gold had made back some of its declines by afternoon [...]
Gold gains, copper declines in mixed day for metals
by Elaine Frei
Metals prices were mixed Friday amid concerns about debt in Europe that continued to cause investor nervousness, as some analysts predicted that fears of more European economies needing bailouts due to growing debt could impact metals markets for months to come. May copper was down about a cent to $3.10 per pound in afternoon trade [...]
Copper prices fall on China manufacturing data
by Elaine Frei
Copper prices fell to a multi-week low in New York Tuesday as investors and analysts worried about demand growth after a Chinese purchasing managers’ index showed that while factory activity remained in expansion in China in April, its rate of expansion slowed, hinting that China’s economy is cooling. An index reading of 55.4 in April [...]