Gold rises above $1,030/oz
LONDON - Gold prices rose back above $1,030 (U.S.) an ounce in Europe on Thursday as the dollar gave up gains against the euro ahead of key U.S. economic growth data due later in the session.
Some physical demand is returning to the market as prices plumb three-week lows, dealers said, helping the metal shrug off a further small outflow from the world's largest gold-backed exchange-traded fund.
Spot gold was bid at $1,034.65 an ounce at 1014 GMT, against $1,026.85 late in New York on Wednesday. Earlier it touched a three-week low of $1,025.75 an ounce.
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Among other precious metals.
Spot SILVER was bid at $16.32 an ounce against $16.09, tracking gold higher after the previous session's 3.3 per cent decline.
Platinum was at $1,316.50 an ounce against $1,303.50.
Palladium was at $317 against $313.50.
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Copper firms on weak dollar, capped by economy jitters
* Demand concerns fanned by faltering share markets
* Surprise fall in copper stocks; U.S. GDP data eyed
LONDON, Oct 29 (Reuters) - Copper clawed up from one week
lows on Thursday with prices garnering support from a weaker
dollar, but gains were restrained as fragile equity market
sentiment fanned concern on the strength of economic reovery.
By 1033 GMT, copper for three month delivery on the
London Metal Exchange traded at $6,450 a tonne from $6,430 at
the close on Wednesday. The metal, used in power and
construction, earlier hit a one week low at $6,405.
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Other Metals
Aluminium was flat at $1,912. LME stocks for the
metal, used in transport and packaging, lost 5,450 tonnes to
4.56 million tonnes.
Nickel, Steel making ingredient traded at $17,970 from
$17,800 while battery material lead was at $2,263 from
$2,231.
Zinc traded at $2,191.50 a tonne from $2,190.
Tin edged up to $14,750 from $14,650.
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24 Hour Base Metals |
|
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Gold & PGM Prices |
Oct 29 2009 11:05AM NY Time |
dd |
Change |
Gold |
1040.80 |
+1.27% |
Platinum |
1328.00 |
+1.76% |
Palladium |
322.00 |
+2.55% |
Rhodium |
1800.00 |
+0.00% |
|