Gold slips as dollar firms, euro debt worries stay
Euro remains under pressure as crisis worries
U.S. closed negative on friday
Copper is expected to open steady on Monday
U.S. oil prices edged lower
Gold fell on friday as a firmer U.S. dollar dented the metal's appeal as an alternative investment, with a weaker euro also putting additional pressure. The dollar briefly hit a two-month high against the yen on early trade Monday, extending a rise from Friday as an early bounce in the euro following news of a rescue package for Ireland faded and gave the greenback a lift. Copper is expected to open steady on Monday after the European Union agreed on a $115-billion bailout package for Ireland. U.S. oil prices edged lower in light post-holiday trading on Friday, pressured as Europe's debt crisis pushed the euro to a two-month low against the dollar.
U.S Crude steady after jump on cold weather on Monday
Oil was steady near $86 on Tuesday after rising more than 2 percent a day earlier, led by futures of heating fuels including gas oil, as cold weather gripped northern Europe. Spot gold was steady on Tuesday, supported by continued worries about the fiscal health of euro zone nations. Copper is expected to open lower on Tuesday after London futures failed to hold on to gains seen in Asian trading due to pressure from a weak euro amid persistent worries about Europe's debt problems.
The euro fell to its lowest in 11 weeks on Tuesday
U.S. oil falls towards $85 as dollar rises
Copper up on tight supplies
Gold rallied 1.4 percent to a 2-1/2 week peak on Tuesday and euro-priced bullion set a fresh record high as concern over sovereign debt levels in the euro zone fuelled buying of the metal as a safe store of value. Oil fell towards $85 on Tuesday as the dollar hit a 10-week high on concerns about Europe's debt crisis and on worries over demand in China as it looks to brake energy demand growth and cool inflation. Copper rose on Tuesday, supported by persistent concerns about supply tightness and as the euro trimmed losses after U.S. data lifted risk sentiment.
Gold eased back towards $1,380 an ounce on Wednesday as some appetite for risk returned to the European equity, debt and currency markets, but remained firmly underpinned by persistent concerns over euro zone debt levels. Oil rose to above $85 a barrel on Wednesday as positive data from the United States and China, the world's top two oil consumers, boosted investor confidence about economic recovery. Copper rose to its highest level in two weeks on Wednesday due to data that showed growth in top consumer China as well as to a weak dollar.
Oil was steady near 25-month highs on early morning trade of Friday after a slew of upbeat U.S. economic data that boded well for oil consumption by the world's top user, ahead of a jobs report expected to show employment expanded for a second straight month in November. Gold ticked higher on Friday after a volatile trade in the previous session, which saw speculators book profits as the price of the metal failed to breach a key resistance of $1,400 an ounce on waning Europe. Shanghai copper is expected to open stronger on Friday as London futures extended gains to a third day in the previous session to come within striking distance of a record hit last month.
Silver tracked gold higher, trading up 2.7 percent
Copper ends firm despite soft U.S. employment data
U.S. oil prices rose to a 25-month high on Friday, the third straight rise, as a weaker U.S. dollar spurred commodities investment and cold weather in Europe . Gold rose almost 2 percent on Friday, rising above $1,400 an ounce as the dollar tumbled after disappointing jobs data cast doubt on the strength of the U.S. economic recovery. COMEX gold and silver volume was sharply lower than their 30-day average, as investors have completed contract rollover prior to December's first notice day on Tuesday. Copper notched its biggest weekly gain in four months on Friday, ending firm despite below-forecast U.S. employment data that failed to deter demand for the metal as a hedge against inflation. Investor confidence was shaken after data showed U.S. employment increased far less than expected in November and the jobless rate jumped to a seven-month high of 9.8 percent.
The dollar rebounded on Monday to trade nearly 1 percent
Copper inched up on Monday
Oil eased from a 26-month high near $90 on Monday as the dollar strengthened, countering support from higher demand caused by cold weather in Europe and parts of the United States. Gold held near its highest since mid-November on Monday as speculation U.S. authorities will have to further extend monetary easing and concerns over euro zone debt boosted interest in the metal as a haven from risk. Copper inched up on Monday, with economic sentiment supported by the U.S. Federal Reserve chairman saying more quantitative easing was possible.
Oil pared gains on Tuesday after earlier touching a more than two-year high above $90 a barrel as the dollar fell and the freeze in Europe and the United States stoked fuel demand. Gold retreated from record highs on Tuesday as traders cashed in some gains, but the prospect of more U.S. monetary easing and investor nervousness over the European debt crisis still firmly underpinned the market. Copper rallied to a record high on Tuesday above $9,000 a tonne on rising demand expectations for 2011 against a backdrop of tight supply.
Gold was set for its largest one-day fall in a month on Wednesday after initial weakness stemming from a stronger dollar was exacerbated by a flurry of profit-taking a day after the metal reached a record peak. Oil fell on Wednesday to around $88 a barrel as a U.S. government report showed inventories of gasoline and other fuels rose in the world's top consumer, countering lower crude stocks.
Initial weekly jobless claims fell last week by more than expected
Copper hits record high, supplies in focus
Dollar strengthens, euro hit by Irish uncertainty
Copper fell from an earlier record high on Thursday as investors worried about demand in China ahead of key trade data from the top metals consumer, offsetting bullish signs of market tightness. Gold edged up on Thursday after an upbeat report on the U.S. jobs market encouraged some investor risk appetite, which in turn knocked the dollar in favourof higher-yielding currencies and commodities. U.S. crude oil futures prices turned negative on Thursday, erasing previous gains of as much as $1 after the dollar strengthened and data from Europe showed a build up in oil stocks despite cold weather.
China's crude oil imports jumped 22.1 percent last month
Gold drops as China tightens, down 2 pct on week
Copper near record high after China imports data
Oil prices fell on Friday in choppy trading, finishing with a weekly loss as concerns that China's moves to cool inflation will curb energy demand. Despite reaching a 26-month high of $90.76 on Tuesday, for the week U.S. crude oil futures fell 1.57 percent. Oil rose 6.48 percent last week, its second straight weekly gain. Gold fell on Friday after China raised bank reserve requirements and investors took profits in bullion U.S. data showing rising consumer confidence and a shrinking trade gap. Copper rose near record highs on Friday on concerns about tight supplies and after strong Chinese import data boosted the demand outlook. China's imports of copper rose 28.5 percent to 351,597 tonnes in November, after a slump in October.
Copper hit successive record highs on Monday, boosted by economic prospects for top consumer China, and supply concerns that could propel prices even higher. Oil rose on Monday as strong Chinese economic data lifted commodities even as the country's soaring inflation did not lead to an interest rate hike to cool the economy. Gold extended gains above $1,390 an ounce in Europe on Monday as the dollar surrendered early gains against the euro, and as last week's price dip of more than 2 percent brought physical buyers back to the market.
Copper edged to a new record high on Tuesday, as a weaker dollar and the metal's tight supply and robust demand fundamentals attracted fresh inflow from funds. Gold rallied to its highest in a week on Tuesday, as a dip in the dollar ahead of a U.S. policy setting meeting and ongoing concern about the health of the global economy encouraged investors to buy bullion.
Euro slides as Moody's puts Spain rating on review
Gold fell for the first time in three days on Wednesday
Copper down from record high as dollar gains
Gold fell for the first time in three days on Wednesday as the dollar rose broadly, offsetting any potential boost from investor unease due to ratings agency Moody's issuing a warning on Spain's credit rating. Base metals fell on Wednesday with a stronger dollar pushing copper back from the record high reached the previous session, although the red metal remained underpinned by strong demand prospects. Oil prices rose on Wednesday as investors shrugged off concerns over the health of the global economy following a unexpectedly very large drop in U.S. crude oil inventories.
The euro declined for a second straight week against the dollar
Gold firms as Europe debt fears drive safety play
Copper closed up on Friday
Oil higher as growth hopes offset euro woes
Gold prices turned higher late Friday, moving back to the top of the session range, as some investors returned to the yellow metal as a safe-haven play when the euro fell in response to Moody's downgrade of Ireland's credit rating. Copper closed up on Friday, notching its third consecutive week of gains, as short-term technical momentum and bullish demand prospects from China in the new year kept prices buoyant near all-time record peaks. Oil prices rose on Friday in seesaw trading and posted a weekly gain as supportive U.S. economic data. Stocks of copper in LME warehouses rose for the fifth day in a row. Latest data showed a small increase of 600 tonnes, to 361,400 tonnes. That is little more than seven days of global consumption.
Oil falls despite freeze, Nigeria as dollar rallies
Lead hit multi week high
Gold rose on Monday, overcoming weakness in the euro, after a warning from the European Central Bank on the region's finances and Moody's claim that it may cut the ratings of some Spanish banks boosted safe-haven flows. Copper rose towards record highs again on Monday as inflation expectations, robust Chinese demand and supply kinks ahead attracted fund inflows. Oil fell on Monday ahead of a January futures contract expiry and due to a stronger dollar, after failing to capitalize on support from freezing temperatures in the United States and Europe and a pipeline attack in Nigeria.
Gold prices steadied in Europe on Tuesday in holiday-thinned trade, but fresh strength in the euro and buoyant interest in the metal as a haven amid fears of further borrowing strains in the euro zone lent firm support. Oil prices rose for a third straight session on Tuesday, supported by cold weather. Copper set successive record highs on Tuesday's a force majeure in top producer Chile fanned supply concerns and attracted fresh fund buys .
Copper stayed within reach of record highs on Wednesday as supply concerns persisted, but investor book-squaring undermined prices of base metals. Gold was firmer in Europe on Wednesday, building on three straight sessions of gains, as the dollar extended losses after data showed U.S. growth was slightly stronger than expected in the third quarter. Oil hit a two-year high on Wednesday, coming close to $91 per barrel and boosted by a drop in U.S. oil inventories and cold weather on both sides of the Atlantic.
Gold slipped nearly 1 percent to a session low at $1,372.50 an ounce on Thursday, erasing most of this week's gains, as the dollar held firm against the euro after a raft of U.S. data. U.S. consumer spending rose for a fifth month in November and incomes climbed by more than expected, while a rise in new orders for U.S. manufactured goods excluding transport also beat expectations. Oil prices held above $90 a barrel on Thursday, close to their highest in two years, as cold weather boosted demand and U.S. stockpiles shrank. Copper fell more than 1 percent on Thursday, falling from record highs hit earlier this week and hitting a session low as upbeat U.S. data boosted the dollar versus the euro, but supply concerns supported sentiment.
