Aluminium
Copper gains on US data
by Elaine Frei
Copper prices rose Monday, helped by new US manufacturing data as the Institute for Supply Management reported that its manufacturing index was at 58.4 in January, up from 54.9 in December.
March copper added 3 cents to $3.08 per pound in New York trade, while three-month copper on the London Metal Exchange gained $46 to $6,791 [...]
Copper prices lower on China news, US housing starts
by Elaine Frei
Copper prices fell Wednesday on the news that China is moving to limit the amount of credit available in the country in order to make sure that inflation does not spiral out of control.
Despite some analyst predictions that demand for the metal used in construction and manufacturing will remain strong, the new reports have spurred [...]
Gold lower on stronger dollar
by Elaine Frei
The price of gold fell Friday as the US dollar strengthened as more investors bought the greenback in a search for the safest place to put their cash, and on concerns that China’s economy could slow following moves by the Asian nation’s central bank.
February gold was $12.50 lower to $1,130.50 per troy ounce in New [...]
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 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 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 [...]
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 [...]
Gold declines after Bernanke comments
by Elaine Frei
The price of gold was lower again on Monday in New York as the dollar strengthened and Federal Reserve chairman Ben Bernanke said that inflation will remain low.
Bernanke’s remarks, in a speech to a group of economists in Washington, made gold less attractive as investment with buyers seeing less reason to protect their cash.
February gold [...]
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 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 gains after slight declines early
by Elaine Frei
Metals prices were mixed Tuesday as gold gained after falling below $1,100 per troy ounce for a time during the session.
December gold was up $1.10 to $1,102.50 per troy ounce in New York, at least partly on a Goldman Sachs prediction that gold prices could rise to between $1,150 and $1,200 per troy ounce.
But while [...]
Gold prices continue to climb
by Elaine Frei
Metals prices were mostly higher Monday as the US dollar once again weakened, making metals a less expensive, more attractive investment for those making purchases in other currencies.
Gold set another record high price at $1,111.70 per troy ounce in early trade before backing off to a gain of $5.70 on Decmeber contracts in New York, [...]
Gold sets another record high as other metals decline
by Elaine Frei
Most precious metals prices were lower Friday after new data showed that the US unemployment rate rose to 10.2 percent in October, its highest in over 26 years.
Gold prices, however, hit a new record high and went over the $1,100 level for the first time ever at $1,101.90 per troy ounce in morning trade before [...]
Copper prices up; gold reaches another new record
by Elaine Frei
Copper prices were up Wednesday as the US dollar weakened and as investors waited for the US Federal Reserve to release its most recent decision on interest rates, although with sentiment expecting the Fed to hold rates steady again this month they were more interested in any hints for future moves that might come in [...]
Gold prices hit another record above $1,080 per oz
by Elaine Frei
Gold hit a new record high Tuesday in New York trade, with prices boosted by a sale of 200 tonnes of gold to the Reserve Bank of India by the International Monetary Fund and by the possibility that India could purchase even more gold.
December gold was up $30.90 to $1,084.90 per troy ounce in New [...]
Gold gains on weak dollar, news
by Elaine Frei
Gold prices were higher Monday as the US dollar weakened and even though investment demand was down.
Another factor in gold’s gains was the news that CIT Group (NYSE: CIT), which lends to small and medium-sized businesses, filed for Chapter 11 bankruptcy protection in New York over the weekend, an indication that the troubles in the [...]