Gold eases as dollar halts slide

London - Gold was marginally softer on Thursday, weighed as the dollar arrested its fall, but prices held on above key support at $1,000 with investors content to stay sidelined ahead of U.S. manufacturing and housing data.

Spot gold stood at $1,005.30 per ounce at 10:36 GMT, compared with $1,006.70 late in New York on Wednesday.

U.S. gold futures for December delivery fell $2.00 to $1,007.00, after rising 1.5 per cent on Wednesday.

In other precious metals, silver was flat at $16.59, while platinum fell to $1,290.50 from $1,295.50 and palladium eased to $292.50 from $293.50.

Copper steadies above $6,000


LONDON - Copper steadied above $6,000 (U.S.) on Thursday with lingering concerns over a slowdown in Chinese imports capping gains, but with technical momentum supportive following a strong third quarter close on Wednesday.


Copper for three-months delivery on the London Metal Exchange traded at $6,169.50 a tonne at 0921 GMT from a close of $6,155 on Wednesday, when the metal surged nearly 3 per cent on a softer U.S. dollar and end-of-quarter position squaring. Copper posted a 24 per cent gain for the third quarter.


Earlier this session, prices of copper, used in power and construction, hit $6,195, their highest in more than a week, gaining traction from Chinese data showing the manufacturing sector gathered more strength in September.

Among other industrial metals, aluminum was at $1,895.75 a tonne from $1,890, having hit $1,910 earlier, its best level in over a week.


Zinc was at $1,957 from $1,968, having earlier hit a two-week high of $1,970, battery material lead was at $2,270 from $2,284, while steel-making material nickel was at $17,880 from $17,850, having earlier hit a one week high of $18,047.


Tin was at $14,840 from $14,900. The premium for cash tin over the three month price was around $675 a tonne, near a 5 year high, with LME data showing a dominant position controlling over 90 per cent of cash contracts, and 80-90 per cent of warrants.

24 Hour Base Metals