Friday 2 January 2015

Commodity Market Update (Copper)

Gold gained with silver amid concern that growth may be slowing from China to Europe even as the US recovers, spurring demand for a protection of wealth. Actively Silver surged around 1.5% or 22 cents to trade at 15.815 after having tested a high of 15.905 an ounce while Gold is up only 1.10 points or 0.09% to trade at 1185.20 an ounce. LME Copper headed for a third weekly decline, the longest streak since October, as an official gauge of manufacturing in China fell to the lowest in 18 months. Other base metals also moved lower along with the red metals. 3-month Lead is losing 0.90% or 16.75 points to trade at 1840.00 and Copper is trading at 6264.00, down 20.25 points or 0.32% per metric ton. WTI Crude Oil prices gained in the early morning session and tested a high of 55.11 before settling at 53.39, up 12 cents while Natural Gas climbed around 1.5% or 4 cents to trade at 2.93 per mmbtu.

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