Aluminium
Copper gains on manufacturing data; gold, silver decline
by Elaine Frei
Metals prices were mixed Thursday as precious metals such as gold and silver declined but copper and some other base metals advanced on signs that manufacturing activity is expanding in China and parts of the United States. March copper added 5 cents to $4.36 per pound in New York trade after going as high as [...]
Gold sees gains on investor concerns
by Elaine Frei
Most precious metals prices were higher in New York trade during the day Wednesday as investors worried about inflation, continued to be concerned about debt problems in some European nations, and as the US dollar weakened. The concerns about the economies of Ireland and Spain, among other Eurozone nations, sent investors looking for safe places [...]
Copper drops on data, inventory gains
by Elaine Frei
Copper prices were lower Thursday as US markets closed early ahead of the Christmas holiday this weekend, falling on supply concerns and higher stockpiles in London-monitored warehouses. March copper was down 2 cents to $4.26 per pound in holiday-shortened New York trade, while three-month contracts on the London Metal Exchange dropped $50 to $9,300 per [...]
Metals prices mixed in slow trade before holidays
by Elaine Frei
Metals prices were mixed on Wednesday as trade volumes declined ahead of Christmas Day, coming up this weekend, with many investors already away on holiday. Three-month contracts for copper were down $15 to $9,350 per tonne on the London Metal Exchange after prices it new record highs in both London and New York yesterday, while [...]
Copper hits record highs in New York, London on news, data
by Elaine Frei
Most metals prices were higher Tuesday as copper was helped by data from China and news from Chile. March copper ended the session up 7 cents to $4.28 per pound in New York, the highest close ever for the metal used in construction and manufacturing, while three-month contracts on the London Metal Exchange ended the [...]
Copper prices gain on demand hopes, supply concerns
by Elaine Frei
Copper prices were up Monday on expectations that demand will remain healthy in China and after an accident at a main port in Chile interrupted shipments of supplies from the Collahuasi Mine there, causing the mine to declare a force majeure on exports. Gains were limited, however, after the European Central Bank worried out loud [...]
Copper gains on demand hopes for new year
by Elaine Frei
Copper prices were higher Friday, with gains coming on new data hinting at more demand in the new year and on rumors that China will begin to replenish stockpiles after selling off some of its inventories earlier in the year. In addition, some analysts predicted that prices could reach the $10,000 per tonne level next [...]
Copper prices fall on economy worries, higher inventories
by Elaine Frei
Copper prices were lower Thursday as inventories in warehouses monitored by the London Metal Exchange continued to rise, and as investors were more reluctant to make risky investments as they continued to worry about debt problems for some European nations. Investors also continued to be concerned that China could still decide to raise interest rates. [...]
Copper falls on demand worries
by Elaine Frei
Copper prices were lower Wednesday after Moody’s Investors Service said it is reviewing Spain’s credit rating, currently at Aa1, with the possibility that it could cut the European nation’s rating, spurring concerns that the economic recover might not be on firm footing. Speculation that China might yet hike interest rates in order to attempt to [...]
Gold prices rise on positive retail sales data
by Elaine Frei
Precious metals prices were higher Tuesday on positive data that included gains in retail sales in the United States. The US Commerce Department said that retail sales added 0.8 percent in November, and were up 1.2 percent if car sales, which along with auto parts sales, were down 0.8 percent during the month. The gains [...]
Gold, other metals see gains on news, data from China
by Elaine Frei
Metals prices were higher Monday as China decided not to raise interest rates over the weekend in order to try to control soaring inflation there, as it had been expected to do by many analysts, who worried that if the Asian nation did raise rates, the move could contribute to substantial slowing or economic growth [...]
Gold prices fall on China interest rate concerns
by Elaine Frei
Most precious metals prices were down Friday, with gold dipping lower on concerns that China will issue another interest rate hike over the weekend as government leaders and the heads of state-owned businesses meet for a three-day conference to determine the Asian nation’s economic policy for 2011. Additionally on Friday, China raised reserve requirements for [...]
Gold gains on drop in Ireland debt rating
by Elaine Frei
Gold prices were up Thursday on a cut in Ireland’s debt rating, but gains were held back by continuing concerns that China will raise interest rates again soon. February gold was up $7.70 to $1,390.80 per troy ounce in early afternoon trade on the Comex in New York after Fitch Ratings cut Ireland’s debt rating [...]
Gold, other precious metals see price declines
by Elaine Frei
Precious metals prices were lower in New York Wednesday, led by declines in gold prices. February gold was down $25.80 to $1,383.20 per troy ounce at the close of floor trade on the Comex as investors worried that interest rates are about to go up again in China, on a stronger US dollar, and as [...]
Copper sets new intraday high in London
by Elaine Frei
The price of copper set a new record in London on Tuesday as stockpiles continued to decline and on the possibility that demand for the metal used in construction and manufacturing could rise after US President Barack Obama agreed to extend tax cuts to the wealthiest Americans for two more years in hopes that the [...]
Gold trades in record territory in New York
by Elaine Frei
Gold prices were above record closing high levels in afternoon trade in New York as February contracts added $7.60 to $1,413.80 per troy ounce after going as high as $1,420 per troy ounce earlier in the session. The precious metal last set a record closing high at $1,410.10 on 9 November. The gains for gold [...]
Gold returns to above $1,400 per ounce in New York
by Elaine Frei
Precious metals prices were higher Friday, with gold adding value after the US Labor Department reported that the US economy only added 38,000 jobs in November, far fewer than had been expected, while the unemployment rate rose to 9.8 percent, data which had investors questioning recent optimism that the economy is recovering. The news on [...]
Gold gains on dollar weakness
by Elaine Frei
Metals prices were higher Thursday, with February gold adding $1 to $1,389.60 per troy ounce at the close of floor trade on the Comex after trading as high as $1,399.70 per troy ounce earlier in the session. Gold was helped by a weaker dollar that sent investors looking for other places to put their cash, [...]
Weaker US dollar pushes gold higher
by Elaine Frei
Gold prices were higher Wednesday as the US dollar weakened, but gains were held to modest levels by positive economic data from several regions of the world. New data showed that factory activity expanded in China, the US, the UK and in the Eurozone according to separate reports, including new data from China’s Federation of [...]