Aluminium
Copper prices gain on demand hopes, supply concerns
by Elaine Frei
Copper prices were up Monday on expectations that demand will remain healthy in China and after an accident at a main port in Chile interrupted shipments of supplies from the Collahuasi Mine there, causing the mine to declare a force majeure on exports. Gains were limited, however, after the European Central Bank worried out loud [...]
Copper prices fall on economy worries, higher inventories
by Elaine Frei
Copper prices were lower Thursday as inventories in warehouses monitored by the London Metal Exchange continued to rise, and as investors were more reluctant to make risky investments as they continued to worry about debt problems for some European nations. Investors also continued to be concerned that China could still decide to raise interest rates. [...]
Gold gains on drop in Ireland debt rating
by Elaine Frei
Gold prices were up Thursday on a cut in Ireland’s debt rating, but gains were held back by continuing concerns that China will raise interest rates again soon. February gold was up $7.70 to $1,390.80 per troy ounce in early afternoon trade on the Comex in New York after Fitch Ratings cut Ireland’s debt rating [...]
Gold trades in record territory in New York
by Elaine Frei
Gold prices were above record closing high levels in afternoon trade in New York as February contracts added $7.60 to $1,413.80 per troy ounce after going as high as $1,420 per troy ounce earlier in the session. The precious metal last set a record closing high at $1,410.10 on 9 November. The gains for gold [...]
Gold returns to above $1,400 per ounce in New York
by Elaine Frei
Precious metals prices were higher Friday, with gold adding value after the US Labor Department reported that the US economy only added 38,000 jobs in November, far fewer than had been expected, while the unemployment rate rose to 9.8 percent, data which had investors questioning recent optimism that the economy is recovering. The news on [...]
Copper prices see gains on stronger euro, supply concerns
by Elaine Frei
Copper prices were up in New York and London as a stronger euro versus the dollar made that metal and others less expensive for investors making purchases in the euro, while prices were also helped higher by continuing concerns about supplies and after management and the union resumed talks in a miners’ strike in Chile, [...]
Copper prices rise slightly in New York, drop in London
by Elaine Frei
Copper prices were mixed Monday as March copper added half a cent to $3.77 per pound in New York trade on evidence that demand will outstrip copper production in the next few years, but three-month contracts dropped $19 to $8,220 per tonne on the London Metal Exchange even though inventories in LME-monitored warehouses dropped 450 [...]
Gold drops over European debt worries
by Elaine Frei
Precious metals prices were lower in early afternoon trade in New York on concerns over debt problems in Europe which strengthened the US dollar versus the euro as trade remained thin with markets open even as many Americans took an extended break after Thursday’s Thanksgiving Day holiday in the United States. February gold was down [...]
Gold, silver, other precious metals higher in New York trade
by Elaine Frei
Prices for both precious and base metals were higher Thursday, with December contracts for gold adding $16.10 to $1,353 per troy ounce in New York as the US dollar weakened. December silver was up 5.2 percent on the session, adding $1.32 to $26.83 per troy ounce as analysts predicted that silver will trade above $30 [...]
Copper prices see gains
by Elaine Frei
Copper prices were a bit higher Monday but other base metals declined in London trade Monday. In the case of copper, supply worries overcame concerns over the prospect of more tightening of monetary policy in China and early declines that came as the US dollar strengthened versus the euro. Prices for copper were supported as [...]
Gold closes above $1,410 per ounce in New York trade
by Elaine Frei
Precious metals prices were higher in New York Tuesday, with December contracts for gold finding another new record closing high on concerns that US stimulus measures will create inflation and on renewed worries about Europe’s debt problems. December gold added $6.90 to $1,410.10 per troy ounce in New York trade, while December silver was up [...]
Gold closes above $1,400 per tonne in new record
by Elaine Frei
December gold hit yet another record high Monday as it ended the floor trade session on the Comex in New York with a gain of $5.50 to reach $1,403.20 per troy ounce after going even higher during the session, with investors seeking out safe places to put their cash to protect it from the inflation [...]
Gold hits another new record high near $1,400 per ounce
by Elaine Frei
Precious metals prices were higher in New York trade Friday, with gold reaching yet another record high close as it added 2.9 percent for the week as investors put their money in safe places after the US Federal Reserve announced earlier in the week that it will buy $600 billion in Treasury bonds by next [...]
Gold in new record high above $1,380 per ounce in New York
by Elaine Frei
Metals prices were higher Thursday, with gold hitting a new record high in New York as the US dollar weakened after yesterday’s announcement by the Federal Reserve that it will buy $600 billion worth of Treasury bonds in an attempt to stimulate the US economy. December gold added $45.50 to a new record price of [...]
Gold gains on elections, Fed meeting
by Elaine Frei
December gold added $2.40 to $1,353.20 per troy ounce on the Comex on Tuesday as investors awaited the outcome of elections in the United States and were anticipating what the Federal Reserve will do about stimulating the US economy as it meets today and tomorrow. Investors were also waiting for a private report on unemployment [...]
Copper prices jump on China, US factory output
by Elaine Frei
Copper prices were higher Monday on new manufacturing data from the United States and China, although gains were limited when the US dollar strengthened on the factory output figures. In China, the Federation of Logistics & Planning’s purchasing managers index rose from 53.8 in September to 54.7 in October, while in the US the Institute [...]
Gold, copper both gain in New York on weaker dollar
by Elaine Frei
Precious metals prices were higher Thursday in New York trade as a weaker US dollar made them more attractive as investments for those looking for safer places to put their cash. December gold was up $19.40 to $1,342.10 per troy ounce at the close of floor trade, while December silver added 51 cents to $23.91 [...]
Palladium at ten-year high on proposed new emissions rules in US
by Elaine Frei
December contracts for palladium reached a ten-year high Tuesday, closing trade in New York up $16.65 to $625.45 per troy ounce, while January platinum added $7 to $1,704 per troy ounce after the United States government announced more stringent rules on vehicle emissions for trucks, buses and similar heavy vehicles. The rules, which are expected [...]
Gold prices unsettled as G20 finance ministers meet
by Elaine Frei
December gold was down 80 cents to $1,324.70 per troy ounce in afternoon trade on the Comex in New York as investors waited to hear what finance ministers from the G20 nations, in South Korea for a meeting, have to say about global currencies. Gold prices were also pushed lower by a slightly stronger US [...]
Gold prices lower on profit taking, stronger dollar
by Elaine Frei
The price of gold fell Thursday as the US dollar strengthened, as investors took profits after recent gains, and as corporate earnings reports convinced investors to return to equities markets. December gold was $18.60 lower at the close of floor trade to $1,325.60 per troy ounce in New York trade, bringing it to $52 lower [...]