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Gold prices drop slightly on data
by Elaine Frei
Gold prices declined Thursday after the Chicago Purchasing Managers Index was up in September against an expected decline, indicating that factory activity expanded in the region during the month December contracts for gold were down $1.40 to $1,308.90 per troy ounce in New York trade after going as high as $1,317.50 per troy ounce earlier [...]
Gold sets closing, intraday highs in New York trade
by Elaine Frei
Gold prices set new records again on Wednesday as the US dollar weakened and investors expected that the US government will put more cash into the economic recovery. December gold added $2 to $1,310.30 per troy ounce in New York, another new closing record, while the contract hit $1,314.80 per troy ounce, a new intraday [...]
Gold closes above $1,300 per tonne for first time
by Elaine Frei
Gold prices were up again Tuesday to hit another new record, its eighth close at a record in the past nine trading session, as the US dollar weakened. December gold added $9.70 to $1,308.30 per troy ounce in New York trade, the first time it has closed above $1,300 per troy ounce, sending some analysts [...]
Gold gains a little more in New York trade
by Elaine Frei
Gold prices inched upward to a new record high in New York trade on Monday, with December contracts closing up 50 cents to $1,298.70 per troy ounce after going as high as $1,301.30 per troy ounce earlier in the session on the Comex division of the New York Mercantile Exchange. While gold seems to be [...]
Gold sets new intraday, closing price records again
by Elaine Frei
Gold hit its sixth consecutive record closing high in New York Friday as December contracts added $1.80 to $1,298.10 per troy ounce after earlier setting a new intraday high at $1,301.60 per troy ounce. The gains for gold came on a weak US dollar and investor appetite for safe alternative investments, but prices for the [...]
Gold tops $1,295 per ounce at close, sets another record
by Elaine Frei
The price of gold was again higher in New York trade as December contracts added $3.60 to set yet another new record closing high at $1,295.70 per troy ounce as jobless claims caused concerns for investors. The US Labor Department reported that there were 12,000 new unemployment claims filed last week in the United States [...]
Gold reaches closing record after approaching $1,300 per ounce
by Elaine Frei
The price of gold hit yet another new record in New York trade on Wednesday, adding $17.80 to $1,292.10 per troy ounce after going to an intraday high of $1,298 per troy ounce earlier in the session. Investors sought out the precious metal that is usually considered to be a safe investment they worried about [...]
Copper, other base metals prices fall on session
by Elaine Frei
Copper prices fell in floor trade in New York on Tuesday as investors were hesitant to make moves ahead of the Federal Reserve’s new decision on interest rates, while new data on US housing starts failed to push prices for the metal used in construction and manufacturing. Copper was down 2 cents to $3.48 per [...]
Copper prices gain as gold again trades in record territory
by Elaine Frei
Copper prices were higher Friday, helped by another decline in London Metal Exchange-monitored inventories and by an analyst prediction that prices for the metal used in manufacturing and construction could rise to $8,000 per tonne by the end of the year. Three-month contracts for copper on the LME were up $20 to $7,720 per tonne [...]
Gold sets yet another new record high at New York close
by Elaine Frei
December gold added $5.10 to $1,273.80 per troy ounce in New York trade Thursday, to reach another record high closing price as it surpassed the previous record, set on Tuesday. The gains came as the US dollar weakened and investors reluctant to put their money into the equities markets looked instead for safer places to [...]
Gold prices fall slightly on profit-taking, stronger US dollar
by Elaine Frei
Gold prices were a bit lower in New York trade Wednesday, although they remained near record territory. December gold was down $3 to $1,268.70 per troy ounce at the close of floor trade in New York, with analysts putting most of the day’s declines down to investors looking to take profits after yesterday’s record-setting prices, [...]
Gold breaks last week’s record high by almost $13 per ounce
by Elaine Frei
Gold prices soared to another record high in New York trade on Tuesday, with December contracts adding $24.60 to $1,271.70 per troy ounce, breaking the previous closing high record, set just a week ago, by $12.90. The gains came as investors looked for safe investments as equities markets had a difficult time holding on to [...]
Copper prices helped by China industrial output numbers
by Elaine Frei
Copper prices were higher while gold was up in New York but only slightly as new figures from China showed that industrial production in China rose by 13.9 percent in August compared to the previous August. The new figures improved sentiment so that copper was in demand as it looked as if consumption of the [...]
Copper prices hurt by demand concerns
by Elaine Frei
The price of copper was lower Friday, with December contracts down 4 cents to $3.41 per pound in New York, a decline of 2.7 percent on the week, while three-month contracts fell $68 to $7,486 per tonne on the London Metal Exchange even though LME inventories continue to decline. While China imported 10.7 percent more [...]
Copper prices drop in New York, London
by Elaine Frei
Copper prices were down in New York and London after an investigation of rubber futures speculation in China caused concerns that some traders will have to sell commodities, although some analysts seemed to think that the investigation was mostly a warning to speculators in an economy that has been trying to cool down speculation in [...]
Gold drops Wednesday from record close Tuesday
by Elaine Frei
Gold prices were lower in New York trade on Wednesday, but they remained near yesterday’s record high close, with December contracts ending the session down $1.80 to $1,257.50 per troy ounce as opposed to Tuesday’s close at $1.259.30 per troy ounce. Earlier in the session, the contracts fell to 1,254.60 per troy ounce. The decline [...]
Gold closes at new record in New York
by Elaine Frei
Gold prices hit a new record closing high in New York Tuesday, ending the session up $8.20 to $1,259.30 per troy ounce, $2.10 higher than the previous high close of $1,257.20 per troy ounce, set on 18 June. The gains for gold came as investors looked for safe places to put their cash in the [...]
Copper prices gain on jobs numbers
by Elaine Frei
Copper prices were up slightly Friday, helped by US Labor Department data which showed that private employers in the United States added 67,000 jobs in August, more than expected, while overall employment dropped by 54,000 and the unemployment rate was at 9.6 percent. Prices might have risen more, but a separate report showed that the [...]
US pending home sales data helps copper prices
by Elaine Frei
The price of copper was up Thursday after the National Association of Realtors reported that pending home sales were unexpectedly higher in July, adding 5.2 percent to give a boost to the metal that is used extensively in construction. December contracts for copper added 3 cents to $3.50 per pound in New York trade, while [...]
Positive data chases gold prices lower
by Elaine Frei
Precious metals prices were mixed in New York trade Wednesday as platinum and palladium gained but gold and silver both declined after both the United States and China reported data showing that manufacturing activity in the two nations expanded last month. In the United States, the Institute for Supply Management said that its manufacturing index [...]