Aluminium
Gold gains on US GDP concerns
by Elaine Frei
The price of gold was higher in New York trade on Friday on concerns raised by slowing growth for the US economy and as investors looked for bargains after recent price declines. The US Commerce Department reported that the US gross domestic product grew by 2.4 percent in the second quarter, less of a rise [...]
Gold adds $8 in New York trade
by Elaine Frei
Gold prices were higher Thursday as the US dollar weakened, bargain hunters came out, and there was some physical buying by jewelry makers in Asia. August gold added $8 to $1,168.40 per troy ounce, but some analysts said they expect gold prices to drop further in the short term with no real news to send [...]
Copper gains on China news
by Elaine Frei
The price of copper was higher Wednesday after China said that its economy will not slow significantly, with the central bank there promising that while growth is expected to slow a bit, there will not be another slide into recession. September copper was up 4 cents to $3.26 per pound in New York trade, while [...]
Copper, other metals prices hurt by US consumer confidence
by Elaine Frei
Metals prices fell Tuesday on declines in US consumer sentiment after a key consumer confidence index fell to 50.4 in July from 54.3 in June on concerns that the job market is not improving. September copper was down 2 cents to $3.21 per pound in New York trade, while three-month contracts dropped $89 to $7,059 [...]
Copper prices up on US new home sales data
by Elaine Frei
Copper prices were higher Monday after equities markets saw gains and on a new report from the US Commerce Department on new home sales in the United States. September contracts for copper were 4 cents higher to $3.22 per pound in New York to its highest level since mid-may, while three-month contracts were up $120 [...]
Gold prices lower as US dollar gains on euro
by Elaine Frei
August gold traded lower in New York Friday, closing down $7.80 to $1,187.80 per troy ounce after having gone as high as $1,203.90 earlier in the session. The declines came as investors took profits, as well as on gains for the US dollar versus the euro on the news that seven banks out of the [...]
Copper gains on Europe manufacturing, US existing home sales data
by Elaine Frei
Copper prices were higher Thursday after equities markets saw gains in Europe and the United States, manufacturing activity was reported higher in the Eurozone, the US dollar weakened, and existing home sales did not fall as much as expected in the United States. September copper added 7 cents to $3.16 per pound in New York [...]
Gold up slightly ahead of Bernanke remarks, stress test results
by Elaine Frei
Metals prices were higher Wednesday, but gold barely managed a gain as August contracts added only 10 cents to $1,191.80 per troy ounce in New York Trade after being down 60 cents from Tuesday’s close earlier in the session. Gold buyers were hesitant ahead of US Federal Reserve Chairman Ben Bernanke’s testimony before a US [...]
Copper up despite drop in US housing starts
by Elaine Frei
Copper prices were higher Tuesday despite bad news from the US housing market as inventories dropped another 3,250 tonnes to 419,600 tonnes in warehouses monitored by the London Metal Exchange. US equities markets were lower but in China, the worlds biggest consumer of metals, markets were up on the session, overriding concerns raised by new [...]
Copper gains on demand hopes
by Elaine Frei
Prices were mixed among both precious and base metals on Monday. September copper added a cent to trade at $2.94 per pound in New York, while three-month contracts for the metal used in manufacturing and construction added $27 to $6,512 per tonne on the London Metal Exchange as inventories declined, providing hope that demand remains [...]
Copper prices drop on data, demand worries
by Elaine Frei
The price of copper was down Friday on a report from the US Labor Department that consumer prices were down 0.1 percent in June, while consumer sentiment in the US was also reported lower, with the Reuters/University of Michigan consumer sentiment index at 66.5 in a preliminary survey for July, down from 76 in June, [...]
Gold ends slightly higher
by Elaine Frei
August gold added $1.30 to trade at $1,208.30 per troy ounce in New York Thursday after a day of volatile trade on mixed economic news and a weakened US dollar. While the US Federal Reserve reported that industrial production was up by 0.1 percent in June, both the Philadelphia Fed and the New York fed [...]
Copper prices up on weaker US dollar
by Elaine Frei
Copper prices rose Tuesday as the US dollar weakened versus the euro, but only after early declines that had to do with Monday’s report that China’s copper imports were down last month from the previous month. Three-month contracts for copper on the London Metal Exchange added $55 to $6,685 per tonne, but only after falling [...]
Gold, copper, other metals price fall
by Elaine Frei
Metals prices were lower Monday as gold dropped on a stronger US dollar and copper declined on concerns about demand from China. August gold fell $11.10 to $1,198.70 per troy ounce in New York trade and went as low as $1.196.10 per troy ounce earlier in the session as investors waited for the first earnings [...]
Gold prices up on bargain hunting
by Elaine Frei
Most metals prices were higher Friday, with gold gaining on bargain hunting. August gold had added $13.50 to $1,209.70 per troy ounce in early afternoon trade in New York as investors sought good buys after recent price declines which also spurred more physical buying by jewelry makers in Asia. Analysts said that gold prices could [...]
Copper prices mixed in New York, London
by Elaine Frei
Metals prices were mixed in Thursday’s trade in London and New York, with precious metals lower but base metals mostly higher. Copper prices were mixed, adding 2 cents to $3.02 per pound in New York but falling $30 to $6,610 per tonne on the London Metal Exchange after going as high as $6,745 per tonne [...]
Gold adds almost $4 in New York trade
by Elaine Frei
The price of gold was higher Wednesday, but only after early declines on the news that China does not plan on adding to its holdings in gold due to limited supply and volatility in prices. August gold was up $3.80 to $1,198.90 per troy ounce in New York trade after falling to as low as [...]
Gold prices close below $1,200 per troy ounce in New York
by Elaine Frei
Most metals prices rose Tuesday but gold declined, trading below $1,200 per troy ounce for the first time since 25 May. August gold dropped $12.60 to $1,195.10 per troy ounce in New York trade, while September silver added 14 cents to $17.85 per troy ounce and palladium gained $13.50 to $440.40 per troy ounce. Demand [...]