Aluminium
Gold drops $22 on stronger dollar
by Elaine Frei
Most metals prices were lower Monday, with gold falling on a stronger dollar and base metals dropping after copper and aluminium stockpiles were up significantly in London.
February gold dropped $21.70 to $857.80 per troy ounce in New York trade and was as low as $843.50 per troy ounce earlier in the session, while March silver [...]
Gold prices lower as other metals see gains
by Elaine Frei
Prices for base metals and most precious metals were higher Friday as investors bet that gains in equities markets mean that demand for metals used in industry will increase.
Gold, which does not have as many industrial uses as other precious metals saw declines in New York trade, where it dropped $4.80 to $879.50 per troy [...]
Copper prices drop in New York, London
by Elaine Frei
The price of copper fell Wednesday on continuing worries that demand will suffer as the global economy worsens.
March copper dropped 5 cents to $1.55 per pound in New York while three-month copper was down $135 to $3,420 per tonne on the London Metal Exchange.
Some analysts are concerned that the price of copper could fall to [...]
Base metals see more price declines
by Elaine Frei
Demand concerns sent base metals prices lower again Thursday.
March copper was down 4 cents to $1.57 per pound in afternoon trade in New York while three-month copper fell $110 to $3,480 per tonne in London on inventories in London Metal Exchange warehouses that have increased by nearly 40,000 tonnes just since the beginning of November.
Aluminium [...]
Copper prices fall on inventories, US housing data
by Elaine Frei
Base metals prices were lower Wednesday.
March copper was down 7 cents to $1.61 in early afternoon trade in New York while three-month copper dropped $160 to $3,590 per tonne in London as inventories rose in London Metal Exchange warehouses.
Also hurting the price of copper was news that US housing starts were down again in October [...]
Copper, aluminium gain after early declines
by Elaine Frei
Most metals prices were higher Tuesday, with copper and aluminium both ending higher in London after seeing declines earlier in the day.
March copper remained about even in New York at $1.67 per pound but it gained $90 to $3,750 per tonne on the London Metal Exchange, while aluminium gained $28 to $1,918 per tonne in [...]
Gold drops half a dollar in New York
by Elaine Frei
Precious metals prices were mostly lower Monday.
December gold was 50 cents lower to $742 per troy ounce in New York as US equities markets rose from earlier lows that had send prices for gold higher.
Also seeing declines were December silver, with a decline of 16 cents to $9.33 per troy ounce and January platinum, which [...]
Copper pares gains on US retail data
by Elaine Frei
Metals prices were mixed Friday as copper saw gains on advances in global equities markets but lost some of those gains after Wall Street declined on the news that US retail sales fell by a record amount in October.
March copper added 9 cents to $1.72 per pound in New York while three-month copper was up [...]
Copper, aluminium inventories continue to climb
by Elaine Frei
Base metals prices were mixed Wednesday as copper and aluminium inventories in London Metal Exchange warehouses advanced again.
Three-month copper added $19 to $3,621 per tonne in London after going as low as $3,570, a three-year low, while December copper added less than a cent to $1.66 per pound in New York.
Inventories for the metal used [...]
Platinum, palladium down on auto sector problems
by Elaine Frei
Precious metals prices were lower around noon in New York on Tuesday as investors worried about demand.
Platinum and palladium were both lower on worries that trouble for automakers will cut demand for the metal, which is used in the manufacture of motor vehicle pollution control devices.
Shares of General Motors (NYSE: GM) were as low as [...]
China’s stimulus plan sends most metals higher
by Elaine Frei
Metals prices were mostly higher Monday after China announced that it will spend 4 trillion yuan ($586 billion) over the next two years on infrastructure development, low-rent housing and rural development.
Three-month copper added $120 to $3,875 per tonne in London and December copper jumped 6 cents to $1.75 per pound in New York on the [...]
Gold prices see slight rise in New York
by Elaine Frei
The price of gold rose slightly in New York Friday as demand for the precious metal increased as a safe place to put money after the US dollar declined and on the news that the unemployment rate rose to its highest level in over 14 years in October.
December gold was $2 higher to $734.20 per [...]
Demand worries send base metals lower
by Elaine Frei
A poor demand outlook continued to send base metals prices lower Thursday.
December copper dropped 9 cents to $1.73 per pound in New York while three-month copper fell $265 to $3,805 per tonne in London after the Bank of England, the European Central Bank and Switzerland’s central bank all cut interest rates during the day.
The fact [...]
Most base metals, gold prices decline
by Elaine Frei
Metals prices were mixed Wednesday, with most base metals prices and gold lower even as silver, platinum and tin saw gains.
Among base metals, December copper dropped 14 cents to $1.82 per pound in New York while three-month copper in London was down $280 to $4,070 per tonne after a gain of 8 percent on Tuesday.
The [...]
Copper prices mixed in New York, London
by Elaine Frei
Metals prices were mixed Monday.
While December copper added a cent to $1.84 per pound in New York, three-month copper in London was down $9 to $4,090 per tonne on concerns about demand for the metal in China after London Metal Exchange stockpiles grew by 7,275 tonnes on the session after hikes of almost that much [...]
Inventory gains send copper, aluminium prices lower
by Elaine Frei
More gains in inventories of copper and aluminium in London Metal Exchange warehouses along with continuing worries about demand sent base metals prices lower Friday.
LME copper stockpiles were up 6,775 tonnes on the session to 230,060 tonnes to their highest level in four and a half years, while aluminium inventories added 1,150 tonnes during the [...]
Copper drops 20 cents per pound in New York trade
by Elaine Frei
Copper prices fell sharply Thursday on a stronger dollar and gains in stockpiles of the metal in London Metal Exchange warehouses.
December copper was down 20 cents to $1.89 per pound in New York while three-month copper dropped $445 to $4,210 per tonne after gaining over 12 percent on Wednesday as LME inventories added 6,575 tonnes [...]
Copper gains on US home sales data
by Elaine Frei
Most base metals saw gains Tuesday after the US dollar strengthened and equities markets were higher after several consecutive sessions of declines.
December copper was up 5 cents to $1.86 per pound while three-month copper added $110 to $4,130 per tonne, helped by new data showing that new home sales in the US were up in [...]
Copper, aluminium prices down on inventories, stronger dollar
by Elaine Frei
Base metals prices were mostly lower again Friday as the US dollar strengthened and fears of recession grew.
December copper was 12 cents lower to $1.69 per pound in New York while three-month copper on the London Metal Exchange fell $265 to $3,775 per tonne, bringing copper’s decline this week to more than 20 percent, while [...]
Gold down on stronger US dollar
by Elaine Frei
Both precious metals and base metals prices were mixed Thursday as the dollar strengthened and investors abandoned their investments in commodities.
December gold was down $20.50 to $714.70 per troy ounce in New York after it earlier fell to $695.20 per troy ounce, its lowest level in over a year as investors sold their holdings in [...]