Gold holds below $1,000/oz

LONDON - Gold eased in Europe on Tuesday as the U.S. dollar hit session highs versus the euro after German ZEW data, but held near the $1,000 (U.S.) an ounce mark amid hopes the metal may be consolidating before a further push higher.


Spot gold to $997.10 an ounce at 0940 GMT against $998.65 late in New York on Monday.

Among other precious metals, silver was at $16.47 an ounce against $16.51. Platinum was at $1,303.50 an ounce versus $1,313.50 and palladium at $290 versus $291.

London - Copper climbed more than 1 per cent on Tuesday as investment money betting on a recovery in demand for metals buoyed the market, but rising stockpiles continued to cap the gains.

The U.S. dollar recovered against a basket of currencies and rose against the euro, also putting pressure on metals prices.

Aluminum was at $1,840 a tonne from $1,834 a tonne.

Zinc gained to $1,850 a tonne, versus Monday's $1,831.

Nickel rose to $16,675 from $16,645.

Battery making material lead was firmer at $2,134.25 from $2,105 a tonne.

Oil prices hovered near $69 (U.S.) a barrel Tuesday as investors weighed concerns about weak crude demand against optimism of a global economic recovery.

By midday in Europe, benchmark crude for October delivery was up 16 cents at $69.02 a barrel in electronic trading on the New York Mercantile Exchange. On Monday, the contract fell 43 cents to settle at $68.86.

24 Hour Base Metals