Aluminium
Aluminium down on rising inventories, weak demand
by Elaine Frei
Metals prices were lower Wednesday, pushed lower by more declines in the price of crude oil.
Aluminium was $90 lower to $3,125 per tonne and went as low as $3,083 per tonne on rising inventories and on weak demand for carmakers after London Metal Exchange stockpiles added 24,825 tonnes to 1.115 million tonnes.
September copper dropped 5 […]
Gold gains as other metals prices decline
by Elaine Frei
Gold prices were up early on Tuesday, going as high as $989.60 per troy ounce in New York as the US dollar weakened, but prices fell back and August contracts for the metal ended just $5 higher at $978.70 per troy ounce after crude oil prices dropped steeply on economic concerns after Federal Reserve chairman […]
Gold gains on Iran worries
by Elaine Frei
Gold prices were higher Monday on speculation that Israel or the United States are getting ready for an attack on Iran which sent investors looking for a safe place to put their money.
The metal also gained value after the dollar dropped versus the euro following gains early in the session.
August gold was $13.10 higher to […]
Gold, silver see gains
by Elaine Frei
Gold and silver prices were both higher Friday as equities markets and the US dollar declined and as oil prices soared on continuing geopolitical concerns in Africa and the Middle East.
August gold added $18.60 to $960.66 per troy ounce after going as high as $969.10 per troy ounce earlier in the session, while September silver […]
Gold gains, follows oil higher
by Elaine Frei
Gold prices followed crude oil higher Thursday on renewed worries about a possible conflict in the Middle East after Iran carried out more long-range missile tests in the Persian Gulf, while declines in equities markets also pushed metals prices higher.
August gold was up $13.40 to $942 per troy ounce in New York while September silver […]
Aluminium, lead among metals gainers
by Elaine Frei
Most metals prices were higher Wednesday as the US dollar weakened and crude oil prices gained back some of their early-week declines.
Among base metals, aluminium added $45 to $3,190 per tonne in London but was still off Monday’s record of $3,320 per tonne on continuing supply worries due to energy shortages to Chinese smelters.
Lead added […]
Copper prices lower on credit concerns
by Elaine Frei
Copper prices were lower Tuesday on concerns that credit market problems will slow economic growth, which could cut demand for metals.
September copper, which was also hurt by a stronger dollar that made investors worry less about inflation, was down 15 cents to $3.70 per pound in New York while three-month copper dropped $227 to $8,185 […]
Aluminium prices up on China power cuts
by Elaine Frei
Aluminium prices in London were higher Monday on reports of power shortages at smelters in northern China which cut output there.
The cuts, which affect nearly 5 percent of China’s aluminium output, came on government orders so that farmers in the region will have enough power to operate.
In late afternoon trade in London, aluminium was trading […]
Copper prices down on US jobs data
by Elaine Frei
September copper dropped 11 cents to $3.95 per pound in New York on Thursday after the US Labor Department reported that 62,000 non-farm jobs were lost in June and that new jobless claims were up last week.
Prices were also pushed lower by comments from European Central Bank president Jean-Claude Trichet that indicate there will be […]
Copper prices in new highs in New York, London
by Elaine Frei
Copper prices set new records in both New York and London Wednesday as strikes in Peru threatened to spread even though the government said that they were illegal, and even though production has not yet been much affected in the third day of walk-outs.
The weaker US dollar and higher oil prices also pushed prices higher.
In […]
Precious metals prices see gains
by Elaine Frei
Metals prices were higher Tuesday as the US dollar declined slightly in relation to the euro and yen in afternoon trade in New York.
October platinum was $16.70 higher to $2,088.70 per troy ounce on concerns about the effect of a smelter closure in South Africa on supply and on plans for upcoming strikes, also in […]
Platinum gains on smelter closure
by Elaine Frei
Precious metals prices were mixed Monday, with gold and silver down after the US dollar made gains against the euro after being down against the shared currency earlier in the session.
October platinum, however, added $9.60 to $2,072 per troy ounce on the news of a smelter closure in South Africa.
The Lonmin (LSE: LMI; JSE: LOLMI) […]
Gold, copper up on higher oil prices
by Elaine Frei
Most metals prices were higher Friday and gold hit its highest level in at least a month as investors looked for safe places to put their money to protect it from inflation after crude oil prices rose as high as $142.99 per barrel in New York during the session, a new record and the US […]
Gold adds $33 per ounce on interest rate, oil price speculation
by Elaine Frei
Metals prices rose Thursday as the dollar weakened after Wednesday’s decision by the US Federal Reserve to hold interest rates at 2 percent.
Gold had its biggest one-day percentage gain since late February 2007 as it added $33.20, or around 3.5 percent, to $915.50 per troy ounce on sentiment that the Federal Reserve will not be […]
Metals prices follow oil lower
by Elaine Frei
Precious metals prices were lower Wednesday, with gold declining as falling oil prices reduced demand for the metal as a safe haven against inflation.
August gold was down $9.20 to $882..40 per troy ounce, while September silver was 15 cents lower to $16.59 and October platinum dropped $22.50 to $2,009.
In base metals, copper also followed oil […]
Gold adds value on weak dollar
by Elaine Frei
Gold prices were up Tuesday but other precious metals saw declines.
August gold added $4.30 to $891.50 per troy ounce on a weaker dollar and less chance that the Federal Reserve will hike US interest rates anytime soon after new reports showed US consumer confidence down and home prices 15 percent lower in April, having extended […]
Tin bucks falling metals prices trend
by Elaine Frei
Most metals prices were lower on Monday as the US dollar strengthened, although some were up in early trade.
September copper was 2 cents lower to $3.81 per pound in New York while three-month copper was down $35 to $8,400 per tonne in London despite rising to as much as $8,490 earlier in the day.
Aluminium jumped […]
Copper up on dollar, drop in LME stockpiles
by Elaine Frei
The price of copper was up Friday as the dollar weakened and investors looked for safe places to put their money as higher oil prices one again raised the possibility of more inflation.
September copper added 5 cents to $3.83 per pound in New York, while three-month copper on the London Metal Exchange ended $105 higher […]
Gold prices gain as platinum declines
by Elaine Frei
Most precious metals prices rose Thursday while most base metals prices fell on the session.
August gold was up $10.50 to $904 per troy ounce in New York, while July silver added 13 cents to $17.47 per troy ounce but July platinum dropped $36.10 to $2,055.80 per troy ounce.
September copper was up 3 cents to $3.78 […]
Gold gains on rate speculation
by Elaine Frei
Most metals prices were higher Wednesday.
Gold and silver both saw gains on speculation that interest rates will not rise soon in the US due to signs, including continuing job losses and rising foreclosures, that the US economy is still slowing.
At the same time, rising inflation left investors looking for safe places to put their money.
August […]