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Precious metals prices see gains
by Elaine Frei
Precious metals prices were higher Tuesday, but gold retreated after earlier gains posted when the dollar weakened on new data from the US-based National Association of Realtors showing that pending home sales plunged 16 percent in November.
February gold was up 40 cents to $1,118.70 per troy ounce by the end of floor trade in New [...]
Copper prices gain on dollar, data
by Elaine Frei
Copper prices were higher Monday, to their highest level since August 2008 as the US dollar weakened, another strike commenced in Chile and on new data showing growth in US manufacturing in Decmeber.
March copper added 6 cents to $3.41 per pound in New York trade, while three-month copper was up $125 to $7,500 per tonne [...]
Copper up despite gains in London stockpiles
by Elaine Frei
Copper prices were higher Thursday as the US dollar weakened and on concerns that a possible miners’ strike in Chile could tighten supplies.
March copper was up 9 cents to $3.29 per pound in New York trade, while three-month copper contracts in London added $70 to $7,070 per tonne after going as high as $7,130 per [...]
Copper, precious metals gain on weaker USD
by Elaine Frei
Copper prices were higher Wednesday as the US dollar weakened and on concerns about a possible miners’ strike in Chile.
At late afternoon in London, three-month copper had added $89 to $6,970 per tonne, but a gain of another 1,875 tonnes in London Metal Exchange-monitored inventories held back further gains.
In New York, meanwhile, March copper added [...]
Copper prices drop despite new import data from China
by Elaine Frei
Copper prices were lower Tuesday, hurt by a stronger US dollar and London Metal Exchange-monitored inventories which continue to grow.
In New York trade, March copper was 2 cents lower to $3.14 per pound, while in London three-month contracts for the metal used in manufacturing and construction dropped $59 to $6,331 per tonne as inventories added [...]
Copper prices fall most in three weeks on strong dollar
by Elaine Frei
Copper prices were lower Thursday as a stronger dollar, helped by a rise in leading economic indicators in the US in November, reduced its appeal as an alternative place for investors to put their cash and on a jump in unemployment benefits claims last week in the United States.
March copper was down 8 cents, its [...]
Copper gains on interest speculation, construction data
by Elaine Frei
Copper prices were higher Wednesday in New York and London, with gains coming on speculation that interest rates will remain low.
Additionally, a new report from the US Commerce Department said that US housing starts, including both single-family homes and apartments, were up 8.9 percent in November while issuance of new building permits, which indicate upcoming [...]
Gold gains on help for Dubai
by Elaine Frei
Metals prices were higher in New York Monday, gaining on a weaker dollar and news from Dubai about it’s debt crisis.
Dubai said during the day that it was receiving $10 billion from Abu Dhabi to help pay its debts, averting a possible default on a bond that was to mature during the day.
February gold was [...]
Copper gains on higher factory output in China
by Elaine Frei
Most base metals prices were higher Friday, with copper up on positive data from China and the United States, where retail sales were up in November and consumer confidence was reported higher this month.
In China, industrial output was up 19 percent in November from the same month last year, while imports of unwrought copper and [...]
Copper prices drop on recovery concerns
by Elaine Frei
Copper prices fell Wednesday after early gains as investors worried about supply when stalled talks over pay issues moved miners to block a mine entrance in Chile.
The declines came on the news that Standard & Poor’s had cut the outlook on Spain’s credit to “negative”, raising concerns that recovery from the recession could slow, sending [...]
Stronger dollar sends gold prices lower again
by Elaine Frei
Gold prices fell again Tuesday after the US dollar strengthened in relation to the euro after new data revealed that industrial production in Germany fell by 1.8 percent in October against an expected rise of 1 percent.
February gold was down $20.40 to $1,142.80 per troy ounce in New York trade, while gold for immediate delivery [...]
Gold prices drop nearly $50 in New York
by Elaine Frei
The price of gold dropped significantly Friday on a stronger dollar after the US Labor Department issued a report showing that the US unemployment rate dropped to 10 percent in November, from 10.2 percent in October.
February gold dropped $48.80 to $1,169.50 per troy ounce in New York trade, while March silver fell 61 cents to [...]
Gold prices gain as other metals see declines
by Elaine Frei
Gold prices reached another new peak in New York Thursday at $1,227.50 per troy ounce before ending the session below its high but still above Wednesdsay’s close, but other precious metals were lower on the session.
The gains also came after UBS predicted that gold prices could go as high as $1,300 per troy ounce and [...]
Gold sets new price records in London, New York
by Elaine Frei
Metals prices were higher Wednesday, with gold again reaching new highs in both London and New York.
February gold added $12.80 to $1,213 per troy ounce in New York trade after rising as high as $1,216.75 per troy ounce in London and to $1,218.40 per troy ounce earlier in the session in New York.
Among other precious [...]
Gold again reaches record territory
by Elaine Frei
Gold hit a new all-time high price in New York at $1,202.70 per troy ounce for December contracts before falling back to end $18 higher at $1,119.10 per troy ounce for December contracts, while February contracts jumped $17.90 to $1,200.20 per troy ounce.
The gains came on a weaker US dollar as fading fears about Dubai’s [...]
Weaker dollar sends gold higher again
by Elaine Frei
Gold prices were up again Monday as the US dollar weakened yet again with concerns over Dubai’s debt crisis easing somewhat.
The price of gold added 13 percent in November, with only three losing sessions all month, and prices are up 33 percent since the beginning of the year.
December contracts for gold were $6.90 higher to [...]
Gold, silver up as most other metals decline
by Elaine Frei
Gold and silver both saw prices rise Tuesday in New York, but most other metals were lower after the US dollar strengthened, cutting demand for copper and other industrial metals.
March copper was down 2 cents to $3.14 per pound in New York, while three-month contracts for the metal used in manufacturing and construction fell $78.50 [...]
Gold tops $1,170 per troy ounce in new record
by Elaine Frei
The price of gold hit yet another new record high Monday morning as the US dollar weakened after the president of the St. Louis Federal Reserve Bank made comments over the weekend which indicated that low interest rates in the United States could last longer than anticipated.
Gold hit $1,174 per troy ounce in morning trade [...]
Gold, most base metals see price gains
by Elaine Frei
Metals prices were mixed Friday as gold and most base metals were higher, but other precious metals saw declines on the session.
Gold was up as investors bet that the US dollar will decline more than it already has, making gold seem like a better place to put their cash.
Decmeber gold added $4.90 to $1,146.80 per [...]
Gold up slightly; copper down on session
by Elaine Frei
December gold added $1 to $1,142.20 per troy ounce in New York trade Thursday after going lower earlier as the US dollar strengthened.
December silver was also higher at the close of floor trade in New York after declining during the morning session, adding 5 cents to $18.46 per troy ounce, while January platinum fell $8.10 [...]