Aluminium
Copper prices see gains on stronger euro, supply concerns
by Elaine Frei
Copper prices were up in New York and London as a stronger euro versus the dollar made that metal and others less expensive for investors making purchases in the euro, while prices were also helped higher by continuing concerns about supplies and after management and the union resumed talks in a miners’ strike in Chile, [...]
Copper prices rise slightly in New York, drop in London
by Elaine Frei
Copper prices were mixed Monday as March copper added half a cent to $3.77 per pound in New York trade on evidence that demand will outstrip copper production in the next few years, but three-month contracts dropped $19 to $8,220 per tonne on the London Metal Exchange even though inventories in LME-monitored warehouses dropped 450 [...]
Gold drops over European debt worries
by Elaine Frei
Precious metals prices were lower in early afternoon trade in New York on concerns over debt problems in Europe which strengthened the US dollar versus the euro as trade remained thin with markets open even as many Americans took an extended break after Thursday’s Thanksgiving Day holiday in the United States. February gold was down [...]
Copper prices up on Chile strike talk concerns
by Elaine Frei
Copper prices were higher Wednesday on concerns that a continuing strike at a mine in Chile could tighten supplies as management said it will negotiate only with workers, not with the union, although the union has requested that talks resume. December copper was up 4 cents to $3.74 per pound in midmorning trade in New [...]
Gold up, platinum lower in mixed precious metals trade
by Elaine Frei
Metals prices were mixed Monday, with gold and silver up, but platinum, palladium and most base metals lower on the session. December gold was up $5.50 to $1,357.80 per troy ounce in New York, trading in a range between $1,347.90 per troy ounce and $1,364.80 per troy ounce during the day. The gains for gold [...]
Gold declines slightly amid gains for other metals
by Elaine Frei
Most metals prices were higher Friday, but December contracts for gold were down 70 cents at the end of floor trade, to $1,352.30 per troy ounce, although it had been as high as A$1,362.80 per troy ounce in earlier electronic trade. Gold was lower on concerns raised by an announcement from the Chinese government that [...]
Gold, silver, other precious metals higher in New York trade
by Elaine Frei
Prices for both precious and base metals were higher Thursday, with December contracts for gold adding $16.10 to $1,353 per troy ounce in New York as the US dollar weakened. December silver was up 5.2 percent on the session, adding $1.32 to $26.83 per troy ounce as analysts predicted that silver will trade above $30 [...]
Gold, platinum decline as silver, palladium see gains
by Elaine Frei
December gold ended the floor trade session in New York Wednesday with a decline of $1.50 to $1,336.90 per troy ounce as some investors chose to liquidate their holdings as a deadline approached for a decision on whether to take delivery of their contracts, get out of their contracts altogether or roll their investments over [...]
Gold drops $30 on China worries, margin requirement hikes
by Elaine Frei
Metals prices were lower Tuesday after the US dollar strengthened and on more concern about how new measures to curb inflation in China will affect demand after Premier Wen Jiabao said the government there is in the process of putting such measures in place. Also pushing prices lower as an announcement from exchange operator CME [...]
Copper prices see gains
by Elaine Frei
Copper prices were a bit higher Monday but other base metals declined in London trade Monday. In the case of copper, supply worries overcame concerns over the prospect of more tightening of monetary policy in China and early declines that came as the US dollar strengthened versus the euro. Prices for copper were supported as [...]
Gold, other precious metals prices fall steeply
by Elaine Frei
Metals prices were lower Friday on the possibility that China will soon raise interest rates to try to cool down inflation in that Asian nation after data earlier in the week showed that consumer price inflation was up 4.4 percent in October, with a more than 10 percent rise in food prices, while producer prices [...]
Gold gains on China inflation data
by Elaine Frei
The price of gold was higher in midday trade in New York Thursday, with December contracts adding $7 to $1,406 per troy ounce amid concerns about inflation in China and on continuing worries about the debt problems of some European nations. New data showed that consumer price inflation was up 4.4 percent in China in [...]
Silver drops as CME Group hikes margin requirement
by Elaine Frei
Silver prices fell significantly Wednesday after futures exchange operator CME Group, which operates the Comex commodity exchange in New York among other exchanges, announced Tuesday that it has raised the amount of cash investors must pay to trade a futures contract. The margin requirement was hiked to $6,500 per contract, from $5,000 per contract, effective [...]
Gold closes above $1,410 per ounce in New York trade
by Elaine Frei
Precious metals prices were higher in New York Tuesday, with December contracts for gold finding another new record closing high on concerns that US stimulus measures will create inflation and on renewed worries about Europe’s debt problems. December gold added $6.90 to $1,410.10 per troy ounce in New York trade, while December silver was up [...]
Gold closes above $1,400 per tonne in new record
by Elaine Frei
December gold hit yet another record high Monday as it ended the floor trade session on the Comex in New York with a gain of $5.50 to reach $1,403.20 per troy ounce after going even higher during the session, with investors seeking out safe places to put their cash to protect it from the inflation [...]
Gold hits another new record high near $1,400 per ounce
by Elaine Frei
Precious metals prices were higher in New York trade Friday, with gold reaching yet another record high close as it added 2.9 percent for the week as investors put their money in safe places after the US Federal Reserve announced earlier in the week that it will buy $600 billion in Treasury bonds by next [...]
Gold in new record high above $1,380 per ounce in New York
by Elaine Frei
Metals prices were higher Thursday, with gold hitting a new record high in New York as the US dollar weakened after yesterday’s announcement by the Federal Reserve that it will buy $600 billion worth of Treasury bonds in an attempt to stimulate the US economy. December gold added $45.50 to a new record price of [...]
Gold declines on better economic news
by Elaine Frei
Prices for gold and other precious metals were lower Wednesday on data indicating that the US economy seems to be recovering. The declines came as a private report showed that the US economy added 43,000 private sector jobs in October, as the latest report on factory orders showed that orders have increased, and on a [...]
Gold gains on elections, Fed meeting
by Elaine Frei
December gold added $2.40 to $1,353.20 per troy ounce on the Comex on Tuesday as investors awaited the outcome of elections in the United States and were anticipating what the Federal Reserve will do about stimulating the US economy as it meets today and tomorrow. Investors were also waiting for a private report on unemployment [...]
Copper prices jump on China, US factory output
by Elaine Frei
Copper prices were higher Monday on new manufacturing data from the United States and China, although gains were limited when the US dollar strengthened on the factory output figures. In China, the Federation of Logistics & Planning’s purchasing managers index rose from 53.8 in September to 54.7 in October, while in the US the Institute [...]