Aluminium
Copper lower on decline in US housing starts
by Elaine Frei
Precious metals prices were up Wednesday, but copper declined as the Commerce Department reported that US housing starts dropped by 6.2 percent in August, to the lowest level in over 17 years.
At the same time building permits, which are a gauge of future construction declined even more, dropping 8.9 percent in the month.
The construction industry [...]
Copper prices down on lower China imports
by Elaine Frei
Metals prices were lower again Tuesday.
December copper was down 5 cents to $3.09 per pound in New York after going as low as $3.02 earlier in the session, it’s lowest price in 8 months, while three-month copper dropped $60 to $6,870 per tonne in London.
Prices were down on a gain of 975 tonnes in London [...]
Gold, silver gain as platinum declines
by Elaine Frei
Metals prices were mixed Monday after the bankruptcy of Lehman Brothers (NYSE: LEH) sent global markets into disorder.
Gold and silver saw gains as worried investors sought them out as a safe-haven, but there were worries that gold’s gains could be limited as some speculators could have to sell their gold to raise cash to meet [...]
Precious metals gain on weaker dollar
by Elaine Frei
Metals prices were higher Friday as the US dollar weakened versus the euro, leading investors to look for places to put their money so that it is protected from inflation.
December gold added $19 to $764.50 per troy ounce while December silver was up 24 cents to $10.80 per troy ounce and October platinum jumped $58.30 [...]
Platinum, palladium decline on demand concerns
by Elaine Frei
Precious metals prices were lower Thursday in New York as the dollar strengthened in relation to the euro.
October platinum hit its lowest price in almost two years at $1,121.10 per troy ounce before gaining back some of its declines to trade $39.80 below Wednesday’s close to $1,152.20.
At the same time, palladium reached its lowest level [...]
Copper prices up on Chile earthquake
by Elaine Frei
The price of copper was up in after-hours trade on reports that a magnitude 5.8 earthquake hit near copper-mining regions in Chile, although later reports from at least one mine said that there were no disruptions due to the quake.
Three-month copper added $25 in London to $6,840 per tonne but after the news of the [...]
Copper drops on demand worries, inventories
by Elaine Frei
Metals prices fell Tuesday on cheaper oil, a stronger US dollar and on concerns about demand for base metals.
Copper was down 1 cent to $3.09 per pound in New York while three-month copper dropped $85 to $6,815 per tonne in London after going as low as $6,778 per tonne earlier as inventories in London Metal [...]
Copper falls back from early gains
by Elaine Frei
After being up earlier on the government takeover of US mortgage lenders Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) as investors hoped that the intervention would help the global economy and stimulate growth in home construction, a major consumer of copper, the price of the metal lost its gains to trade even at [...]
Copper losses pull other metals prices lower
by Elaine Frei
Copper prices were lower Friday, triggering a decline in other base metals prices, while most precious metals prices were also down on the session.
December copper was 17 cents lower to $3.10 per pound in New York, while three-month copper was down $326 to $6,900 per tonne in London on demand worries caused by gains in [...]
Palladium gains as other precious metals see declines
by Elaine Frei
Most metals prices were lower Thursday, but October palladium was higher, trading at $1,395 per troy ounce in New York.
December gold was down $5 to trade at $803.20 per troy ounce and has lost more than $30 since 28 August,, while December silver fell to $12.76 per troy ounce and December palladium traded lower at [...]
Aluminium falls amid gains for other base metals
by Elaine Frei
Base metals prices were mixed Wednesday, although aluminium was down $19.50 to $2,675.50 per tonne after London Metal Exchange inventories added 2,650 tonnes to 1.17 million tonnes, the most aluminium in storage in four and a half years.
December copper was up 4 cents to $3.31 per pound in New York in afternoon trade while three-month [...]
Metals drop with crude oil prices
by Elaine Frei
Metals prices followed crude oil prices lower Tuesday as the significant decline in oil prices as Hurricane Gustav passed through the Gulf of Mexico and along the US Gulf Coast without causing much damage to oil facilities there.
The drop in oil prices and a strengthening US dollar both worked to reduce the demand for metals [...]
Copper prices lower on jump in inventories
by Elaine Frei
Most base metals prices were lower Thursday on demand concerns and as inventories of some soared.
December copper added 4 cents to $3.40 per pound in New York while three-month copper was down $120 to $7,535 per tonne after London Metal Exchange inventories added 2,200 tonnes to reach a six-month high and on worries that demand [...]
Most metals higher on oil; silver prices decline
by Elaine Frei
Most metals prices were higher Wednesday as oil prices climbed again and the US dollar weakened in relation to the euro.
A few metals prices, however, fell including December silver, which dropped 11 cents to $13.57 per troy ounce in New York trade, while in London three-month aluminium was down $3 to $2,765 per tonne even [...]
Copper prices drop on growing stockpiles
by Elaine Frei
Base metals prices fell Tuesday as gains in the US dollar strengthened versus the euro and as inventories saw gains.
Copper was down 5 cents to $3.42 per pound in New York, while three-month copper dropped $80 to $7,580 per tonne in London as London Metal Exchange stockpiles added 3,100 tonnes during the session to 166,900 [...]
Gold, silver prices decline in New York
by Elaine Frei
Metals prices were lower on a slow trade day in which the London Metal Exchange was closed for a public holiday.
December gold was $7.70 lower to $825.70 per troy ounce in New York, falling on sentiment that last week’s price gains were too much too quickly. Gold prices are now 1.5 percent lower than they [...]
Copper prices fall on profit-taking
by Elaine Frei
Metals prices were lower Friday as the US dollar strengthened and as crude oil prices also fell.
December copper was down 8 cents to $3.46 per pound in New York while three-month copper dropped $205 to $7,660 per tonne in London as investors took profits after the metal, used in construction, added around 5 percent Thursday.
London [...]
Gold up on weak dollar, oil price gains
by Elaine Frei
Metals prices saw gains Thursday as the US dollar weakened and oil prices rose, trading more than $5 over Wednesday’s close in afternoon trade in New York.
December gold was up $20.40 just before the close of floor trade in New York to trade at $836.70 per troy ounce, while December silver was 67 cents higher [...]
Copper prices fall on low demand from China
by Elaine Frei
Metals prices were mixed Wednesday.
December copper dropped 3 cents to $3.40 per pound in afternoon trade in New York while three-month copper was down $65 to $7,510 per tonne on the London Metal Exchange as demand from China continued to be weak.
Aluminium was $15 lower to $2,762 per tonne on the LME as inventories added [...]
Gold prices rise on interest rate sentiment
by Elaine Frei
Most metals prices were higher Tuesday, with gold gaining on declines in the US dollar after early gains, leading to sentiment that the Federal Reserve might hold interest rates at 2 percent rather than raising them.
Decemeber gold added $11.10 to $816.80 per troy ounce in New York trade, While December silver held steady at $13.22 [...]