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Gold trades slightly higher in New York
by Elaine Frei
Gold prices were up modestly Thursday as the European Central Bank raised interest rates and its president made comments related to European debt problems, but gains were held back by reports on emplyoment in the United States. August gold added $1.40 to $1,530.60 per troy ounce in New York trade after the ECB raised interest [...]
Copper prices drop on data, weather, strikes
by Elaine Frei
The price of copper was lower in New York and London Wednesday as metals prices were mixed on news and new data. September contracts for copper were down 0.5 cent to $4.33 per pound at the close of floor trade in New York, while three-month contracts were down $19 to $9,521 per tonne on the [...]
Copper prices up as weather, strikes disrupt production
by Elaine Frei
The price of copper was up in New York and London Tuesday after weather and labor issues threatened production in Chile and on expectations that demand will rise in several regions of the globe. September copper was up 4.5 cents to $4.35 per pound in New York trade, while three-month contracts gained $85 to $9,540 [...]
Copper gains as other metals see price declines
by Elaine Frei
Prices for precious metals and most base metals were lower Friday, but copper prices were up on hopes that China will stop raising interest rates after manufacturing growth there slowed in June. September contracts for copper added 2 cents to $4.30 per pound and were up 4.9 percent on the week after the China Federation [...]
Gold prices drop in New York, other metals mixed
by Elaine Frei
The price of gold was lower as metals prices were mixed in New York and London Thursday after Greece’s parliament voted to implement the austerity measures it passed on Wednesday, while safe-haven buying was also reduced by better than expected news on Chicago-area manufacturing activity. August gold was down $7.60 to $1,502.80 per troy ounce [...]
Gold up after Greece passes austerity measures
by Elaine Frei
Metals prices were higher Wednesday after Greece’s parliamnet approved austerity measures in an effort to keep bailout help coming from the European Union and the International Monetary fund, but parliament still has to vote on measures to implement the cuts, with that vote expected Thursday. August contracts for gold were up $10.20 to $1,510.40 per [...]
Gold adds nearly $4 per ounce, to barely above $1,500 per ounce in New York
by Elaine Frei
Prices for precious metals were higher Tuesday as the US dollar weakened and consumer confidence was down in the United States, while there were concerns that the European Central Bank will hike interest rates next week on concerns about inflation. August gold added $3.80 to $1,500.20 per troy ounce in New York trade as the [...]
Gold prices drop below $1,500 per ounce
by Elaine Frei
Precious metals prices were lower Monday on a stronger US dollar and on hopes that the Greek debt crisis will soon be solved. August gold was down $4.50 to $1,496.40 per troy ounce at the close of floor trade in New York, the first time gold has closed below $1,500 per troy ounce since 19 [...]
Gold drops nearly $20 in New York trade
by Elaine Frei
Gold prices fell to near $1,500 per troy ounce Friday at the close of floor trade in New York, falling 1.3 percent after dropping more than 2 percent on Thursday. The declines came after European Union leaders adopted a plan to support Greece contingent on the passage of required austeriaty measures by the debt-troubled nation [...]
Gold prices follow oil lower
by Elaine Frei
Metals prices followed oil lower Thursday, with August gold falling $32.90 to $1,520.50 per troy ounce, a decline of 2.1 percent as the US dollar strengthened. Oil was lower on an announcement from the International Energy Agency that it will release 60 million barrels to world markets from its reserves, 30 million barrels of which [...]
Copper prices lower on stronger dollar, US recovery concerns
by Elaine Frei
Copper prices fell Wednesday in London as the US dollar strengthened, investors worried about the US economy and new data showed a surplus of the metal used in construction and manufacturing in the first four month of the year. September copper held even at $4.11 per pound in New York trade, but three-month contracts dropped [...]
Gold gains on safety buying ahead of Greek confidence vote
by Elaine Frei
Metals prices were higher Tuesday, with August gold up $4.40 to $1,546.40 per troy ounce as investors looked for safe places to put their cash ahead of a confidence vote in Greece and as the US dollar weakened. Most analysts expect that Greek Prime Minister George Papandreou will survive the confidence vote, scheduled for late [...]
Copper prices down on Greece, China concerns
by Elaine Frei
Copper prices fell Monday as investors worried about economic issues in more than one part of the world and on word that an earthquake in a key production area had not interrupted mining activities. July copper was down 3 cents to $4.07 per pound in New York trade, while three-month contracts were down $90 to [...]
Gold advances on concerns over Greek debt
by Elaine Frei
August contracts for gold were up $3.70 to $1,529.90 per troy ounce in New York trade Thursday after going as high as $1.534 per troy ounce earlier in the session on safe-haven buying on concerns about Greece’s debt crisis, with gains limited by a stronger US dollar. There was a general strike and riots in [...]
Gold, other precious and base metals see declines
by Elaine Frei
Metals prices were lower Monday, with August contracts for gold dropping $13.60 to $1,515.60 per troy ounce in New York trade, while silver ended the floor trade session down $1.59 to $34.74 per troy ounce. The declines for gold came as investors worried more about a slowing global economy than they did about inflation, but [...]
Copper prices drop on disappointing import data from China
by Elaine Frei
The price of copper was lower Friday as new import data from China was disappointing, pushing prices down as figures showed that imports of unwrought copper and semi-sinished copper products was down a further 3 percent in May after bigger declines in April, against expectations of gains in May. July copper was down 5 cents [...]
Inflation concerns boost gold prices
by Elaine Frei
Precious metals prices were higher Thurdsay, with August contracts for gold added $4 to $1,542.70 per troy ounce as investors bought the metal as a safe place to protect their cash against inflation. Investors worried about inflation after a statement from European Central Bank President Jean-Claude Trichet that “strong vigilance” is needed to guard against [...]
Stronger dollar drives gold prices lower
by Elaine Frei
Metals prices were lower Wednesday, with August gold down $5.30 to $1,538.70 per troy ounce on a stronger US dollar after comments from US Federal Reserve Chairman Ben Bernanke that called the recovery “uneven” and “slow” but gave no hint that the US could put any new economic stimulus measures in place going forward after [...]
Gold prices drop; other precious metals see gains
by Elaine Frei
Gold prices were lower but other metals prices saw gains Tuesday. August gold was down $3.20 to $1,544 per troy ounce in New York trade after it went as high as $1,551.40 per troy ounce earlier, its highest in about a month, with declines coming even though the US dollar weakened versus the euro. The [...]
Most precious metals prices gain; platinum sees declines
by Elaine Frei
Prices for most precious metals were higher Monday as investors bought gold as a safe place to put their cash and silver was supported by political news from Peru. July silver added 59 cents to $36.78 per troy ounce in New York trade on results from Sunday’s presidential run-off election in Peru as opposition candidate [...]