A commodities rally stalled yesterday as a slightly stronger U.S. dollar gave investors an excuse to cash in recent profits. Gold for December delivery settled at $962.90 (U.S.) an ounce in New York, off $3.40.


September crude settled at $71.94 a barrel, off three cents.

Copper's rally faltered on Thursday as investors in a more sombre mood paused to assess whether recent gains were justified given that economic recovery may not be as strong as prices indicated.

Stainless steel ingredient nickel traded at $20,030 a tonne from an 11-month high of $20,450, hit on Wednesday.

Prices have slipped, but market talk that Brazil's Vale Inco has declared force majeure at its Sudbury nickel operations in Canada, Ontario, will help bolster sentiment.

Sudbury produces about 85,000 tonnes of nickel a year - about 7 per cent of global annual consumption estimated by some at around 1.2 million tonnes this year.

"You are talking about an awful lot of production," said Gayle Berry, analyst at Barclays Capital. "Nickel is going to remain well supported."

CLOSING PRICES (SPOT)

Nickel US$/lb 8.86 -0.39

Copper US$/lb 2.73 -0.08

Gold US$/troy ounce 963.55 -1.50

Silver US$/troy ounce 14.58 -0.17

Lead US$/lb 0.83 -0.04

Zinc US$/lb 0.83 -0.03

Aluminum US$/lb 0.89 -0.04

Oil West Texas US$/bbl 71.94 -0.03

Nat Gas Henry Hub US$ mmbtu 3.78 0.17

Nat.Gas AECO C C$/gigajoule 3.18 0.10

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