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Message: Daily - Commodities - Market & Metal News - Charts
Gold steadies after record
London - Gold prices steadied in Europe on Tuesday after hitting record highs in the previous session, as the dollar recovered some lost ground against the euro, relieving upward pressure on the precious metal.
However, the prospect of further weakness in the U.S. currency and the possibility of further gold buying by the official sector are keeping prices near all-time highs.
Spot gold was bid at $1,167.45 an ounce at 1022 GMT, against $1,165.85 late in New York on Monday.
Gold prices have rallied 12 per cent since the beginning of November, when reports emerged that India's central bank had bought 200 tonnes of gold from the IMF. Russia, Sri Lanka and Mauritius have all since also announced gold acquisitions.
London - Gold prices steadied in Europe on Tuesday after hitting record highs in the previous session, as the dollar recovered some lost ground against the euro, relieving upward pressure on the precious metal.
However, the prospect of further weakness in the U.S. currency and the possibility of further gold buying by the official sector are keeping prices near all-time highs.
Spot gold was bid at $1,167.45 an ounce at 1022 GMT, against $1,165.85 late in New York on Monday.
Gold prices have rallied 12 per cent since the beginning of November, when reports emerged that India's central bank had bought 200 tonnes of gold from the IMF. Russia, Sri Lanka and Mauritius have all since also announced gold acquisitions.
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Among other precious metals.
Spot Silver was bid at $18.58 an ounce against $18.59.
Platinum was at $1,451.50 an ounce against $1,454.50.
Palladium was at $370.50 an ounce against $369.
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Copper slips as dollar gains
LONDON — Copper fell on Tuesday as the U.S. dollar gained and copper inventories jumped nearly 5,000 tonnes, highlighting weak physical demand, but traders said there was scope for prices to rise due to robust investor interest.
Traders will watch macroeconomic data from major copper consumer the United States, due later in the day and including U.S. growth figures and consumer confidence.
Copper for three months delivery on the London Metal Exchange fell to $6,874 (U.S.) a tonne by 1011 GMT, versus $6,950 a tonne on Monday, when it rallied to $7,010 a tonne, its highest since September 2008.
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Among other base metals.
Aluminum fell $20 to $2,018 in light trade.
Nickel traded at $16,759 a tonne from $16,905.
Zinc at $2,244 from $2,272.
Lead at $2,360 from $2,410.
Tin was at $15,000 from Friday's last bid at $15,150
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