Daily - COMMODITIES - Market & Metal News - Charts
posted on
Nov 06, 2009 07:59AM
LONDON - Gold rose on Friday, boosted by the prospect of central banks buying the precious metal to diversify their reserves and as the market waited for key economic data from the United State.
Spot gold was bid at $1,094.55 (U.S.) a troy ounce at 1031 GMT from $1,089.55 late in New York on Thursday. The precious metal earlier this week hit a record high of $1,097.25 an ounce, a gain of more than 25 per cent this year.
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Silver was at $17.52 from $17.37 late on Thursday.
Platinum at $1,358 from $1,353.50.
Palladium at $329 from $328.50.
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Copper rises ahead of data, inventories cap gains
* Copper inventories jump, demand worries increase
* 175,000 job cuts forecast in October, sharply below Sept
LONDON, Nov 6 (Reuters) - Copper rose around 1 percent on
Friday, as investors awaited key U.S. jobs data for further
clues on the economic recovery but rising inventories amplified
demand concerns to restrict gains.
By 1100 GMT, copper for three-month delivery on the
London Metal Exchange rose to $6,597 a tonne from $6,530 at the
close on Thursday and compared with a session high at $6,620.
LME copper stocks continue to rise however, indicating
demand has yet to recover outside China, the world's largest
metals consumer and driver for metal prices this year.
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Aluminium rose $9 to $1,934. LME stocks in the metal,
used in transport and packaging, eased 3,275 tonnes to 4.54
million tonnes.
For graphics detailing global metals stocks, click:
>http://graphics.thomsonreuters.com/119/GLB_CPRSTK061109.gif
http://graphics.thomsonreuters.com/119/GLB_ZNCSTK061109.gif
Nickel, Steel-making ingredient traded at $18,125 from $17,760.
Battery material lead was at $2,355 from $2,340.
Zinc traded at $2,228 a tonne from $2,219.
Tin edged up to $15,000 from $14,950.
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