Gold holds around $1,060
LONDON - Spot gold held firm on Friday, supported by expectations that further dollar weakness could spur bullion to record highs.
Gold edged up to $1,060.90 (U.S.) an ounce by 0945 GMT, up from New York's notional close of $1,060.00.
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Among other precious metals.
Silver was at $1,366 from $1,365.
Palladium was at $336 from $334.
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Copper climbs to one-year high
LONDON - Copper climbed to a fresh one-year high on Friday, as equities marched higher on improving corporate earnings and analysts warned prices had over run weak fundamentals.
By 0918 GMT, copper for three-month delivery on the London Metal Exchange rose to $6,670 (U.S.) a tonne from $6,585 at the close on Thursday.
The red metal used in power and construction earlier touched $6,679.75 - a level last seen on Sept 29, 2008 - and is on course for its biggest weekly gain since July.
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In other metals.
Aluminum rose $26 to $1,992. LME stocks for the metal, used in transport and packaging, fell 5,275 tonnes to remain near record highs above 4.5 million tonnes.
Analysts are also wary of production restarts, which could ultimately stifle prices should demand outside China fail to pick up.
"The market is also grappling with increased Chinese metal output, which potentially offset the higher demand run rate," said ANZ in a note.
Steel making ingredient nickel traded at $19,530 from $19,200 while battery material lead was at $2,442.50 from $2,405.
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Oil slips below $81, retreating from 2009 high
London - Oil prices slipped below $81 a barrel Thursday, retreating from a 2009 high, as a wobbly U.S. dollar steadied against other currencies.
By midday in Europe, benchmark crude for December delivery fell 84 cents to $80.53 a barrel in electronic trading on the New York Mercantile Exchange.
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|
24 Hour Base Metals |
|
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Gold & PGM Prices |
Oct 23 2009 7:56AM NY Time |
dd |
Change |
Gold |
1060.70 |
+0.08% |
Platinum |
1362.00 |
-0.29% |
Palladium |
334.00 |
-0.30% |
Rhodium |
1700.00 |
+0.00% |
|