LONDON (Reuters) – Gold prices rose on Tuesday as investors spooked by talk of a Greek debt default and contagion to other euro zone countries sought safety while a softer dollar also helped.
Spot gold was bid at $1,543.04 a troy ounce at 1000 GMT (6 a.m. ET) compared with $1,539.95 late in New York on Monday when it touched $1,545.90, its highest since June 9.
LONDON (Reuters) – Gold slipped on Wednesday as a stronger dollar prompted a flurry of sales, but investor buying sparked by sovereign debt concerns and inflationary pressures.
Spot gold was bid at $1,518.29 a troy ounce at 0905 GMT (5:05 a.m. ET) from $1,523.25 an ounce late in New York on Tuesday. The precious metal hit a three-week low of $1,511.11 on Monday.
LONDON (Reuters) – China is likely to return to the copper market and vindicate predictions of a deficit this year, easing current concerns that its absence could fuel a surplus.
The second quarter is when China traditionally buys copper ahead of strong construction and industrial activity in the third quarter. But this year purchases have been deferred, mostly because of record high prices.
LONDON (Reuters) – Gold rallied on Tuesday as the jewelry sector came looking for bargains, the dollar slipped and investors fretted about the Greek debt crisis.
Spot gold was bid at $1,518.64 a troy ounce at 0929 GMT (5:29 a.m. ET) from $1,514.73 an ounce late in New York on Monday when it suffered its biggest one-day loss in a month, touching a three-week low of $1,511.11 an ounce.
LONDON (Reuters) – Pension funds that invest in commodities to diversify portfolios need a different approach that involves understanding fundamentals and targeting certain areas, because the sector as a whole no longer fulfils the role.
Natural resources have historically had a negative correlation with equities. Commodities reflected immediate economic conditions, while the stock market tends to discount expectations for future growth and earnings.
LONDON (Reuters) – Gold held firm on Friday supported by the weaker dollar and a warning from Moody’s that it would consider cutting the United States’ top-notch credit rating if there is no progress on debt talks.
Traders and analysts expect subdued trading ahead of a key monthly jobs report from the United States, the world’s largest economy, which could help determine the future direction of the dollar.
LONDON, May 27 (Reuters) – Bank financing deals that have
tied up large amounts of aluminium in London Metal Exchange
(LME) warehouses have led some suppliers to impose surcharges,
German luxury carmaker BMW (BMWG.DE: Quote, Profile, Research, Stock Buzz) said on Friday.
Metal industry sources estimate these deals have tied up a
hefty 70 percent or 3.3 million tonnes of record high aluminium
stocks at 4.7 million tonnes in LME-registered warehouses.
LONDON (Reuters) – Gold prices climbed on Friday as worries about Greece’s debt crisis triggered buying by investors looking for a safe place to park assets, while the softer dollar also helped underpin sentiment.
Spot gold was bid at $1,525.29 a troy ounce at 1123 GMT from $1,518.10 late in New York on Thursday.
LONDON (Reuters) – Gold hit a three-week high on Wednesday, boosted by fears about the debt crisis in euro zone countries such as Greece while the resulting stronger dollar against the euro undermined sentiment.
Spot gold hit $1,528.40 a troy ounce, its highest since May 4. It was bid at $1,526.79 an ounce at 1120 GMT from $1,525.75 an ounce late in New York on Tuesday.
LONDON (Reuters) – Anti-competition authorities may probe activity by large traders on the London Metal Exchange that also own warehouses, including investment bank JP Morgan, after MPs raised concerns.
A parliamentary committee said in a report it was concerned that the same firms that trade metals were able to hold large amounts of metal stored on the LME, the world’s top metals exchange, and alerted competition authorities.