Aluminium
Copper gains on factory activity data
by Elaine Frei
Copper prices were higher Wednesday after early declines, with both declines and gains driven by new data. September copper had added 2 cents to $2.95 per pound in midday trade in New York, while three-month copper added $16 to $6,510 per tonne on the London Metal Exchange after falling as low as $6,340 per tonne [...]
Copper prices lower as US confidence declines
by Elaine Frei
Copper prices fell Tuesday after the Conference Board reported that US consumer confidence dropped in June, with it’s confidence index at 52.9 for the month, down from 62.7 in May, on a refigure of China’s leading economic indicators made necessary by what the Conference Board called a computing error, and on a weaker euro and [...]
Gold drops $17 on session
by Elaine Frei
The price of gold was lower at the end of the floor trading session in New York on Monday as the US dollar strengthened, cutting demand for the metal as a safe alternative place to put cash. Additionally, some analysts took the news that G20 leaders said at a meeting over the weekend that they [...]
Gold price sets new intraday record high in New York
by Elaine Frei
The price of gold was higher Friday, setting a new record for intraday prices and closing just $2.10 below its record high close, set a week ago. August gold added $10.30 to $1,256.20 per troy ounce in New York trade after setting a new record intraday high at $1,259.50 per troy ounce. The gains came [...]
Gold up on weaker dollar, Fed’s interest rate decision
by Elaine Frei
Gold prices rose Thursday as the US dollar weakened and as some speculated that it will weaken even more after the Federal Reserve held US interest rates at an all-time low and indicated that they will remain there for an extended period, at least until into next year. A weaker dollar traditionally makes gold look [...]
Copper prices fall on US housing data
by Elaine Frei
Most metals prices were lower Wednesday. Copper was lower on new data from the US Commerce Department that showed US new home sales down 33 percent in May from April, a new record decline, after a tax credit to buyers declined. This new data came just a day after the National Association of Realtors said [...]
Precious metals gain as base metals see mixed results
by Elaine Frei
The price of gold and other precious metals were higher Tuesday after early declines on a report from the National Association of Realtors showing that existing home sales in the United States fell in May. Sales of existing homes dropped 2.2 percent in the US in May against an expected gain of around 6 percent [...]
Gold prices at new closing high in New York
by Elaine Frei
The price of gold hit new highs in New York trade Thursday as Wall Street equities markets dropped, first-time jobless claims were up in the US and as the Philadelphia Federal Reserve reported that expansion of manufacturing activity in its region has slowed significantly. August contracts for gold were up $18.20 at the close of [...]
Copper prices fall on fewer US housing starts in May
by Elaine Frei
Copper prices fell Wednesday as new data showing US housing starts down last month made more of an impression than new numbers indicating that industrial production was up in the US in May. The Commerce Department reported that new housing starts were down 10 percent overall in May, with single-family home starts falling 17 percent [...]
Copper gains in New York on weaker dollar, manufacturing data
by Elaine Frei
Copper was mixed in floor trade Tuesday it added 1 cent to $3 per pound in New York but three-month contracts on the London Metal Exchange fell $60 to $6,600 per tonne by the end of the trading day. Later, however, the metal used in construction and manufacturing managed to come back to trade at [...]
Gold prices off session lows as Moody’s downgrades Greek debt
by Elaine Frei
Gold prices were lower Monday, but other precious metals saw gains as new data showed that Eurozone factory output was up 0.8 percent in April over March and added 9.5 percent from a year earlier, strengthening the euro and adding optimism that recovery from the recession is continuing. August contracts for gold were down $5.70 [...]
Copper gains on US consumer sentiment
by Elaine Frei
Copper prices were higher Friday on better consumer sentiment and although copper imports into China were reported a bit below expectations last month. A new Reuters/University of Michigan survey showed that in early June its consumer confidence index stood at 75.5, up from its reading of 73.6 in May. Copper added 5 cents to $2.91 [...]
Gold prices fall from records on profit-taking
by Elaine Frei
Gold prices were lower Wednesday as investors took profits after yesterday’s record setting close, and on an increased their appetite for riskier investments. Also helping metals prices was an unofficial report that China’s exports were up 50 percent in May from the same month in 2009, which helped reassure investors that Europe’s debt crisis isn’t [...]
Gold prices at new record highs
by Elaine Frei
The price of gold hit record highs Tuesday as August contracts in New York added $5.70 to close at $1,246.50 per troy ounce after also setting an intraday record as it reached $1,254.50 per troy ounce earlier in the session. Gold prices have now added 13 percent this year. Today’s gains came on concerns that [...]
Gold gains $23 in New York trade
by Elaine Frei
The price of gold was significantly higher in New York trade Monday despite a stronger US dollar, bucking the conventional wisdom that when the dollar rises, gold declines, while some analysts said they see gold prices as likely to go even higher on investor concerns about the state of the global economy amid continuing worries [...]
Gold rises as other metals decline on jobs data, debt worries
by Elaine Frei
Most metals prices were lower Friday, but August gold added $7.70 to $1,217.70 per troy ounce in New York trade as the dollar strengthened, the euro weakened, equities markets were lower and debt problems in Europe returned to focus. Concerns about economic conditions in Europe were rekindled after a spokesman for Hungary’s prime minister said [...]
Copper prices on stronger dollar, demand worries
by Elaine Frei
Copper prices were lower Thursday after the US dollar strengthened for the fifth session in a row, while comments from two big producers hinted at coming declines in demand from China, and US factory orders did not add as much as had been anticipated. Officials from two big copper producers, Freeport-McMoRan (NYSE: FCX) and Codelco, [...]
Copper prices drop as demand concerns continue
by Elaine Frei
Copper prices were lower again Wednesday on continuing concerns that slower factory output in the US, Europe and China will hurt demand for the metal used in manufacturing and construction, while investors also worried about the European debt crisis and what effect it will have on demand, considering that 20 percent of the world’s copper [...]
Copper prices drop on China data, demand worries
by Elaine Frei
Copper prices were lower Tuesday as investors worried about demand from China as new data showed that manufacturing activity dropped in May and property sales were down in Bejing, Shanghai, and Shenzhen. A key Purchasing Managers’ Index was at 53.9 in May, down from 55.7 in April, indicating that while manufacturing activity remains in expansion, [...]